Changes in accumulated retirement savings, particularly in employer-sponsored defined contribution (DC) plan balances, differ by worker’s earnings levels. Earnings shocks, portfolio diversification, and employer contributions to worker’s DC plans affect retirement savings for lower earners...

We use data from the US Health and Retirement Study to examine the relationship between individual portfolio decisions and perceived discrimination, with a focus on racial-discrimination. We show that sensing racial discrimination has a much bigger association with shaping portfolio decisions...