Race inequities in men's retirement.

Abstract

A multistate life table model is used to identify how labor force experiences and mortality determine the labor force participation rates (LFPRs) and the qualities of the retirement life cycle of Black and White older men. LFPRs and the life cycle measures are compared to assess inequities of retirement access for the racial groups. The results show that Blacks' lower LFPRs are a function of disability. Despite lower LFPRs than Whites, however, Blacks spend a greater portion of their lives both working and disabled, reducing the retirement period. Race differences in the retirement life cycle also are highly sensitive to mortality. Reducing Black mortality to that of Whites would substantially narrow the life cycle differences. The combination of higher disability and mortality rates among Blacks suggests that health is a key determinant of retirement inequity.