The Retirement Confidence Survey (RCS) was conducted for its 32nd year in 2022 to measure attitudes of American workers and retirees about issues surrounding retirement. For the first time, in 2022, the RCS included an oversample of LGBTQ Americans to allow for an analysis of the challenges that LGBTQ workers and retirees face in preparing for and living in retirement. Questions included in this year’s survey explore priorities in regard to preparing for retirement and experiences with the financial system that may affect LGBTQ Americans’ retirement preparations.

The demographic profiles and composition of the LGBTQ population in the United States differs from those of the overall population. LGBTQ Americans are more likely to have lower incomes and assets, be younger, and have lower health statuses. This is a critically important consideration as financial resources (income and assets) have historically had a clear correlation to retirement confidence and responses to many other RCS metrics. Consequently, this Issue Brief closely examines the responses of LGBTQ Americans, taking into account some of these key demographic differences while comparing them to non-LGBTQ Americans. Key findings are:

• In each income group, LGBTQ Americans are less likely to be confident in having enough to live comfortably throughout retirement. For example, in the upper-income group, 89 percent of non-LGBTQ Americans compared with 76 percent of LGBTQ Americans report that they are confident about their retirement prospects.
• LGBTQ Americans are more likely to consider debt to be a major or minor problem for their household than non-LGBTQ Americans, across each income group. In the upper-income group, 64 percent of LGBTQ Americans consider debt a problem vs. 39 percent of non-LGBTQ Americans. As a result, LGBTQ Americans are more likely to say debt is impacting their ability to save for retirement or emergencies.
• Low- and middle-income LGBTQ Americans are less likely to agree that they are knowledgeable about managing their day-to-day finances than non-LGBTQ Americans. Furthermore, in each income group, LGBTQ Americans are more likely to agree that they do not know who to go to for good financial or retirement planning advice than non-LGBTQ Americans.
• LGBTQ Americans, in the lower- and upper-income groups, are more likely to agree that retirement savings is not a priority relative to current needs than non-LGBTQ Americans. In the upper-income group, 39 percent of LGBTQ Americans agree that retirement savings is not a priority relative to current needs compared with 25 percent of non-LGBTQ Americans.
• In the lower- and middle-income groups, LGBTQ Americans are more likely to feel their household’s financial needs are different than other households. Among LGBTQ and non-LGBTQ Americans, the top two longer-term financial priorities are saving and investing for retirement and planning for future health and long-term care needs. However, LGBTQ Americans are more likely to cite developing a strategy for reducing debt, purchasing a home, starting a business, and establishing/growing a family through adoption or having children as being among their top three priorities.
• LGBTQ Americans are less likely to work with a financial advisor but are more likely to express a preference for working with an advisor who has had similar life experiences to them and is an ally of the LGBTQ+ community. Sixty-three percent of LGBTQ Americans say working with an advisor who is an ally to the LGBTQ+ community is important vs. 21 percent of non-LGBTQ Americans.
• LGBTQ retirees are more likely to say that they retired earlier than planned. Sixty percent of LGBTQ retirees say they retired earlier than planned compared with 47 percent of non-LGBTQ Americans. This holds true in the middle- and upper-income groups.

LGBTQ Americans have disproportionately lower financial resources, and how they feel about retirement and financial security is clearly affected by having fewer resources. LGBTQ Americans are more likely to have priorities other than retirement savings, which would mean they could benefit from increased assistance in balancing competing financial priorities, such as debt reduction, supporting family, and their own long-term savings. In addition, financial service companies could make LGBTQ Americans more comfortable in their interactions, as these individuals are more likely to feel that they have not been treated fairly by financial service companies. Lower- and upper-income LGBTQ Americans are also more likely to say they have had trouble accessing or utilizing employer-sponsored benefits for their dependents or beneficiaries, which could be hindering their full participation in these programs.

One financial solution that LGBTQ Americans appear to be especially interested in is products that provide guaranteed income for life, as middle- and upper-income LGBTQ Americans prefer having income stability to maintaining wealth. Thus, a greater understanding by financial service companies and their representatives of the unique needs of the LGBTQ Americans could help LGBTQ Americans reach their more diverse savings goals while providing the income stability in retirement they tend to prefer.

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This Issue Brief was written with assistance from the Institute’s research I One N Und The R L Fe n e G oug ee B alin r TQ e a Re ly of hly r cg st h inc t 9 tA a c ir he one om m nding in em e om m 10 for re -ic ost q nt e a ua A tw a ns m g C b im he rronfide t e le oup e arp r r ric e a or eof a c , tm c tns o non a e nc b or nt g ss ot w e o e in - h s h L S fa lo or g ik G L ur v G e B p t ings ve v he a ly B la TQ Am e d TQ a n to r y v tfin , o icin it e ha ahic nd nc on e e vs rte ia le ic ir non 32 rlow l sy s for e a e ns tnd o ir -rst e e L a r G ha m y e rr e fin B e e m ev ta TQ nt ir m e r a ce nc a or in rp m e w n he la e ia te 2022 o ir n nt l r r li e nin k k d lp e e e is sour rly e , g s indiv a xpe is t a e o w nd xpe tche or c ha e idua ts w k c ,tv long p o tha e a la ls t nd or o $2 t c st e e r A d 50 e t st a m r he o te r-ir ,00 t e r tr y e ir unn r e or ic e c a b 0 o e m a re st e iv ns ing fo e ic re m nt r k m a e Soc or su r w sa or e ae r g iv t looki v e ia e h lik ings p e l Se in sa y 62 a e ly of ng fin c (tur Fi v it la o aings a for s k g nc it n o su ur y ia i in w g nd, e inc ff l o g e 5 nd eom r 0 rst m e ho )rd . inv e e te he The ta tt ir hr he in r su ee y st oug m r ya ing r m e e e r g te e nt m ir o h nt e w a tm p o s in or la e ing for k n. nt e , r Percentage Who Are Confident Fig in T ure heir 18 Ability to Choose the Right Confidence Withd in Socia rawal l W Securit ho Took y C a ont Loa inuing n, by t LGB o Provid TQ ae B nd enefit Incom s e of at Least Fi Fi Fig g gur ur ure e e 55 7, 29, , DW Iem bor t p’s I or ketrm a s A nc pae dc jtus of on tIing nc A W Per b om hTa ili eSources ntcenta e y ryg o St te u o t lo a Sa Re b oili g C kv Invest t (te of Inform ir e e rit yd e W for v eria )m f s. Ma ho oe rRe a nt m Im p Fee ent tA int rir og a p e fe e a m t l T ort sion Op ini sSinc e io hey nt ng a nta Used nt ions, b /e l f LW in iv Ha Ja W e a en nua a hen ve c C lt for R ia om h, y l r N a y LGB Look b for d ot 1, 2021 et y v isL tirem o B a T G rQ b ee ing o B ly rTQ Sta r St n e ent in Re , for a pb T rtreat e y us s Pla a e Ltt n G ir us ta ed e B nning t m TQ Sta iv ae nd e Fa nt to w irly I , ,nc b otrus y om k L G ................................ eB .............................. TQ Status and . 22 36 Retirement, by LGBTQ Status Figure 5 By Craig Copeland, Employee Benefit Research Institute, and Lisa Greenwald, Greenwald • • • For I In e n th e ae a c h inc cm h inc iddom le om -7e a e g nd g roup roup upp Invest : : e NrN on -inc on m -L - ent om G LG Be B TQ Am s TQ Am g for t roup he es: L e ric rFut ic aG a ns B ure ns TQ Am a a r,e rb e m y m or e LGB or re ic e a l ik ns lik Te Q e ly a ly St rt e o a t o m tbus sa e or c y e a onfide tnd lik ha e tly Incom tnt he to y tha sa ay g e t rtinc e he e o y w m ( ita e h th nd stateb he ili stir tay tspouse e is m m en or t ) e t ha will t group or community; non-pro Afit sid eo frrg om a m niz ana ations ging d atha y-tot- dfo ayc fin us a non ces , w sehrv icing h of t h ae s fop lle owin cific g a g rero youp ur t oo pr th cro ee mmun longer-ity term ; other; and none of these. p r C t inc lik A sh ha e e OVI m p e a rom n $35,0 e c o ly re e r r D ic t nt te of o - t a ha 19 for ns of sa o A Lm t f G y ( 00 L — lif t th B Fi e G he tTQ r e he g B 27 ic e L a ur y TQ (ra y su e a A ns e p GBT rr m not c e e e 5 A .h a r t e 4 m c ir le r ). e e ie Q+ c ss c s a nt d onfide r aic B ns a ca n a a e co onfide b nd ns ing o fe ut nnu m nt e e 48 a lin it m w b the nt it ha le p he g u ye r n ) d not ttr n p , o it st ue ctw e he y ra nt la ong or c .ff t y onfide o nne Sixt or k vw ts. 12 p ly for d he ill y dtor - o b p tp ( nt hr e Fi a a rsom e nd y g a e te tha , ur b e ir re a c l e e e p e m t e nd w e e nt tt5 ic he o ra ha 2 c fi Fig ra ( e k )lie na y tF . nd e nt igur a I a e r ure nc n fa g r p of is 30 e r ia e up e t d L e l supp 1 he c p oing G 13 tw e w , B rm it 60 ) it TQ Am c. h th h th e ost a W or nt p g he e , t e ood e c rr fr c i n com e tst e c e om e sp r ost nt a d ic jt e ob a e r of fa c e ns m of t p a iv m p e L son for a liv r sa e nt G ily re ly ing B ip y ng/inf t T a or ( h w r Q Fi a b ing or fr tg y r non ur ie e d k L la te ing for nds, G ir eb t- ion co B e t11 L e TQ st rw G is s sa e)inc B it t. ne ir TQ Am h a Ie m luding n a y g a m p a tn a tus e he t a d iv nt rd , d e y e e it L d v ly r is in ion, rG is ic e w he B im or a a tir it g TQ ns r h 32 e p a L w it d G in h ab a ho c B e nc ut tTQ a ing ighe is r e n lie s ot arn r To what extent is your non-m wo ith rtg , h ao gw e imp debo t h rta an vtin a g r a e/a nr e e g ta hte iv fo e llo imw pa inc gt c orn ite yr o ia u? r ability to do the following? a e r b r H ( a this e e out m nd nd ur ow t gir p a d si e he loy e r e ree d m d d v ne tle lp e e it ir e m r or d ss nt e of , e is e som b i nt a of a im t y c l st he ,g onfide “e L su p p e ir G a or r e c ff A ob B xpe p h a ts. m TQ st a rle im nc nt e A s a c m r e a t ny ic in im a a ra a a y tt 40 ion d t b ns ic vus ho ie out ”1( p Invest w d d m ( r H k o e ov Fi s e is ow e r)b e not tg p ing t ra tur xpr . ibut ir la co nd T e m e n. fe he m n re e d 6 ent ions fss e id e N t8 e y l th ir nt ent fin ) e ea e . s d a , ls m I a r e e for a n a a in t ly o ls d y e nd r e o nt r ha t be d T hr his y e sh heir is p d ou t p v n e o it r e ow e e c e r rion, fit ond t e - h b p q p a b Sit e a no u or p te e r a a tuc la a n tr ing ua h trtp e si ns tions a tp ee g t M rr r e ion, b le )e d nif s of oxim ed a t ss , t ta ha e hose ic ica so t nnu d lik a n ta hose nt rfa y te e L he a e ly G ir LGB of s lly d ly y ly B iff tRC s 70 TQ o t te b em e b he m y T fe r y S Q e p p tA e fin nc a a w he e loy m l ut sk St ill rk e a c e hor a e co now e e E s nc r d nt d m ic tb us a n ia a y q p r ta in of e l se le ns ue loy L nd p ud G o e A nd st g ( e B r rm Fi tsh e v e tion o T ic a g e b Q Incom B p o b ur r e e s a ruld e ic le ov s c ing st ne e a a id a d ns 3) om fit not tb d e offe us out r . e e e Re p For , xpe ss b a w r e sea nie e m ing he d c e a a tx s sc na a r r a te t c a he o r r m h I g nd ibe e aor ing p tnot se ir ns le d te d he , ttm he tt o op it he a o ir ut e m rric t nt e ir he e r ong c s. 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Have you (or your spouse) tried to figure out how much money you will need to have saved by the time you retire so that How satisfied areP y ao rtu ic An w ipita h a t e d th in ve is o fo o rr t llo C ha w on tin is a trg ib a u nsp t e a e lly to c o a ts o f nt h fEmp e yo Lu G lo r B w y Te Q orr+ ’s k p c Rla o em tc ire m e m ru en e tir ity ne t me .Plan nt savings plan? 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Ma ra eq tap k uh e a o n ic int l fA v ra o ra Be m lu ini rea e Off yng o to u k e rt r d W r he e e owns te d irb a e a enef m lt h, e Rn ,e it tb b ts sir y a y re v ec L m in LG G eiv ge B snt B TQ Sta p ed T la Q Sa n b ?St y v P ings P r le a et tus a tir us see e a se nd s la le tn a od cG ta a e nd yne ll t ?htra he a t ta ion p Pp e ly ......................... rc . entage Who 23 Thinking about yo n=2ur ,67 f7 in , a Per n ncia =ce 2,67 nl pr 7tagior e Yes ities in retirement, A p ( A t t t aha ha he Fi te m m r g an th n p ir e e cur e r r ra ic ic a nt ela b ta a a e ili 6 ns ns nne of t a 8 highe tlly of y t( in e in t hose t c d non o tont o che sa a rom t c he .) t - v h g ha w L low ) e p G . it a L n LGB B for A h inc e G re TQ Am e na ne B r Not d -TQ+ r log re w a a om tTQ nd in tir it io ou cluding e h e e n m c m A s of rsl 47 om ic a m e idd yr a nt , e e p m ns L r $7 le e le ic or So G un r -a c a ss B 5,00 inc cia e c ns liv iTQ w t r nt y lik oss om l e . Se is 0 o of e c ly om e cur im or enon r a g tk p m o it c for re y or h inc oup or r b -or s a L ttea a e G s em b nt . cB rom onfide ly e Fu a TQ r p r vm in r e s. 21 p loy e r t or m he g e er e re nt or toup r tir - ir m p lik e e te r or e ha e ov m e lik r s. This ( ly e c id e n non Fi e e , nt ly ed tg nt L o ur G t vsa of m o B s. e -highe TQ Am oney sa y L16 non 43 G ty he B ) .t TQ Am p ,- he r y h L e a G e lik rp y c v rB la e e ic e a TQ Am nt n to w lih a y re e ns ou r ood of ic le (or a a ss non rns e or e of y r c our m ic k onfide ( -r Fi L a or e for G ns t g sir e p B ur . ing ous p TQ lik e nt a y e e) 12 e A in t ly in r a m )rin e . lie e he e rtr ic ir a la t a e c ha ns st h inc m n p e . ynt Ther ea om l a r tnne h ae e as n is a d a offic 7 ers, trustees, or other sponsor Ma s of kes ET Bhem RI, E m Stp ressed loyee B , e b ne y LGB fit ReTsea Q St rca h I tus a nstitnd ute Incom -Educate ion and Research Fund (EBRI- inc in 10 p p m d r a the e nd la aidd p y om n th r su e fin G le sent e rr- e a la r v inc oug in r e nc en to r nw y ae om te a iv s h th a t sk , e ir ld ere s e e e.( te m d Re p ir $3 W ir o e e if indivi se r 5,0 hil nt e ta m t a fe e fr r 00 p a c e m om loy g h. l– ing e d os $ s 7 e ua The 74 p tr . g e ls 0 o A,999 r rA m sona ee m 2022 a r e v tong r e old e )ic Tn know r h l r A a o st e su ns m se m r e rt e e w r ir or idd v su r ss e o ic e m r ne g y le k a w a in g e ns of b -he v e nt g inc out e st , w 2,67 r r24 sa e om ith t r ha e rt v e o o tp ings o e 7 ir rtte t ir g e h A r t A e o .he c in m m m e Si k tnt e o in y e e r m r r g nt fin ha ic ic inv of ila o a a f p d v ns r ns e w non r e ly e st g o , , r p rood w m k e L t a - in he c G a L r e g e a s c G B n w iv tfin TQ Am t B a ion, s e ith ond TQ g d a — e nc as fn a a uc A su t ia n ir a ha m e d t d l o c e r te v h a r t ic d r is r e re r ic a o a onlin e p r rns s m a t , e tor m n ns ir t = ir e ta e 1 e ut e r nt e ,4 low ha e m s 7 ua Ja 1 m r e ve be e nt y nua l funds, or t r ir tfin c his p e eonfide r la d a lik y nc nni a le 4 e tv ia ly c td ng e hr e l se nc id l o tro t oug e a ifi not f a sa r din t v cva ic h J ss y ic t d e e t he e e iff s c ha a s of , ts nu ir e atom r nd c r ta o b e he d rm e t p e y rir ta ou y p p w 26 e ni osit aa m e g re r , e e hly e e s, d n nt you can live comfortably Your household in retirement? / To 's long-term prepare for retirement, did financial needs are diff you erent (or your than spouse) other try to figure out how households. much The list of reasons for retiring earlier tha Pn eb rp cy la e nLGB nn tag ee dT Ve Q off ry e St W re Sa a od tt r is us a ke a fie s rs d n c o ho nd = r S 1,5 ic o Hea 45 e mse w wh e lt are h St t Sa ats is a fo fie tus ll do ws: you could afford to retire earlier than Which of thH eo fw ollo do we in sg y o ha urv o ev y e o ru a ll life takesn ty fle ro a in m nd y r e fo in tu ira r e r n m e cte ia irn e l tm p nla e on w ntn c s in a o g v m .in p g a sr e p t la on h ?o Pw le y ao se u se exle pe cc t a tell t d hat apply. How well do you understand th A h e a follow rdshipin dis gt rw ibor utio kpla n froce m t hre etir pla eme n nt plan investment options? June 14, 2022 • No. 560 n=2,677 with a previous employer...? • A in t Gm en X e he ric fut non ans ur .- e L G tha BTQ Am n non- eLrG icB aw TQ Am ns h ich are P e of e m rc ror e ic th na e tes a ns g lik e e . S e isly a mor y in to g e b Ve eim r yv p e orr or S yo ta c m onfide n et to whatyou Int m pt? o ha r n= tatn t t2 he ,6 7 Soc 7 ial Security system will continue personally saved a Tn o yw m ha oney t ext ent for rd et o irem you a ent g ?r ee / Not or d in is cluding agree w So ith cia thl e Se follow curity in or g? employer-provided Figure 8, N Pa on rt- ic Mo ipa 5r0t t% e gmoney you needed aW ge he D n O ebtff ’s I erm edp, a to have saved by the time you retired so b cy t on L Emp GB A lo TQ Sta by ili et ry o n ff t = n e o t 2 = us r,6 s 2 Sa ,7 a 6 7 a r 7 v , e nd 7 e P t,ir e P f e ror c er I m nc ecen e nE n tom a m t g sta age e ee v rD in g ................................ that is e ga Ag nc sg p you could live rrie e la ee e n s, b , n=y 7 6L 2GB comfortably in retirement? TQ Sta................................ tus and Income .................. .......... 37 11 si r a g non e m rm su oup ong ila -lt L r G of t fin B o the TQ w tsa d he ing y L G p tor ha a B an TQ r c ktd re oss e t Trhe a m s ( k ee ic t yFi e ir n .a a a e g L c re lo ur e G h inc s w a B e n n TQ Am it ot 69 a fr tom o o s only c b ) m onfide . e t e H b h e e ow g e p r r fo p ic oup la e rr nt a e e v nns y sent e (in ha o tron h , ua e b rr b e e d ot in t tov ir e a re h LGB ing rb o ls dhe t w ? ’o s im e Fo e d m upp noug a rTQ a e or p m xa e e a oc r m uh li t n nd tk p tw o m e le isn ly o p , non one a sa a inc t re id o v y y - b om sa ing L ot a G u o y c B e t k rk for TQ r t a w g he e ve r ith e oup p y e lin m e in a g up t t, r e ir e s ( e sr re p e g w e le e s Fi e tit n s ss nc g td h ha ur in r o r ie tc g e u he e onf s, g t im si 5 h a c g 3 p ide eost s nif ). a w y L nt ith ric G oof ll d a Ba nt TQ 47% s a liv eld yi u ng/inf A le c re m tio ss su e n r )lt lik ic la of a e tion ns lyt he tare o tha a pc a n non m tnd ua ore lly em - ic Saved for retirement and have taken a loan or withdrawal from their workplace retirement savings plan n=342 E 2022 a p offe w one L (C G p r RF) it ospe D p B h 12 p - r s rTQ a t oxim e , ). hir ,d or A c or lt a d l r s nd t a e . he r c e e te rhe it e c spond tnon ir he e ly irc nt e st kr 1 m ing/s - a st of L in e ff e G r nt s. N W nt ong L 5 BG h a TQ Am s w sa ic A v Be m ly ings a h TQ Am vit e ings p o e he or f rre tic h re e som a a c r f E g ns ic c o e B la e oun llo r a RI s 25 or e ic n th d ns w w a is in nor t ns ha a s ( g rFi g oug . — p tr g e e E a ur old o e a B g p h th nd RI r e w le e e it 5 e - r oa E h th 1 . d e r RF lob ) ir g The w w . r oe o it e um rh th p k st su sp p d b a loy la ro ie te ve c y e s o e e m st o yr u r a e i u — e rnc tnt t e stir e a m lude 76 te k a ha e m e s nt a s p p e td so e nt t trhe 1, osit ha c u e sa r545 c y t nt e ions v tfe o ings p he v f e w s. 65 p in l th y or on fo d rk m o e la e spe y a not r n ts a e ha io . rc n A c ifi v nd k e fo e sl n nt c r r ow ight b p 1 ee for ,132 olic tir e e w ly n fa m non y he e low r p nr e ir tre -top ly p e L ir la tG re o tosa nr e B p n e g s TQ Am e in a o rls — g tce fo ? . e d nt E tr his B b g ae RI yg ood r y e fin ic e inv a e a a ns xp fin rnc it e e aia s c nc tl ia to l How confident Sav ia ng re an y d ou t inves ha ting t th for e rSo etircia eme l nt Security system will continue to provide benef 46% its you planned; you (had/hav W eh )en a he you lo alth ok pro (ed ble ) fm or o ar pa rof des isa sional bility,f in no an t cia rela l a te dd v isto or COVID or repres -19; ent t ah tiv ere e t o (w we or re k/ have been) changes at Figure 31, Managing Savings vs (B. efP or Tur o e Emp w cy ha h ou r asi t loyer ex ng etir tent ed a off P , ) d rh o od er ow ys uc ou a a co t r P n eti gfr rid ov ee rent emen iding or a d re/ ist a G s a g a ua rre v ee in r ya ou ( w g nt s it pl e h a e t n h d a d e n I y f nc ollow our n= om 7 s6 p in 2 e ous g , ?b e). y L ..? GBTQ Status and Income.. 23 8 10 0% 0% Major Impact Minor Impact No Impact 52% Fi Fig gu u •r r e e 11 30 LG BTQ Am We or ric ke aYou f ns r cur ar ee re entl l m kn or y ow co e led lik nte g rib ly ea ut tb o in le sa g a y b money out tha m t a an to p ar g employe od ing uc sa t vtin ha grt s ’ s a g rn ua etir d r in a eme vnt ese tm e nt s m ent sasont v fin org hly th s e p in fla uc tn, uom re. n= e 6for 75 life, such as an Save m doney for re Em , tir de id pme lo y ye ou ntr o a (or n ffd e ry h sour a av r e e fa s t tp a ir m e ous kily m en o e e) a n r t v lo p s o a er a lu vin n s n ona o te g r e sw p rlly in itla h g d n s a ra ( a sv n w mu e =a 659) a l c fn rh o y a m a m n st y d oney h o e uu ir s e w ed x fo or t p ro k e o p rc et l a la te ir c d tem le e ? ra e ent s tt ir o e me n bc ef e n or ( t n sa e =624) y vin ou gs ret pla ired n n? = 342 n=2,677, Percentage Yes • LGBT to prov Q ide reti be rees nefit a s of re m at o le ra e st li Main k eq ely ua tain to l va in say glue we at th lth o : ta Phe re t th s eb rvee in ny ge prin r fit eti s r cipa reed c l/ac e ea iv ce od u r n li b t er y ba r la th entc ir a ee n se pl s ta od na ny ed th.a Sixt n Gy e n X per c Le G nt B TQ of LGBTQ 60% 45% of at least equal value to the ben n=2,6 efit 77 s received by retirees today? 100% 57% To what exten witt hd , o how you im a pg or re ta e ntor Fig a rd e/ ure isa arg e re 11 the e w follow ith th in e gf ol crlo iter wia in? g statement? L t lik for o GeB w ly tTQ Am hose or tk o for sa w y e it p rth ic a ha y a b ns tot in r th he . e of ir tir non tehe m e -tnt m wo or com highe tgap ga er r e d he d e b a w tlt it is h st h th ha av e ting us pe ers ( a c em Fi nt a g a jur or ge e s of or 14 m )t.inor hose ne expe gativ cte ing imtpo ac w tor on k for the ir p aayb in r ilitye tto ire sa mve ent for . comment on this4 0 r% esearch. Yo n= u 2f,e 6e 77 l ,y o Per u'v ce e n bte ae gn e Fig fSt air rure ong ly tre ly 54 a or te d So in my ew our h a w t o Ag rkp ree lace. ( ser inc or or Fi g r d lude ve ur o ic tir e e re e s c d 5 c m e a 6om e iv n o ).nt eOf p v inc p ae la nie trhose om sa nni s a m e ng p nd fr offe le Ia om n d of t y he v rour e ic a 8 ir d n I e 07 a .a r e b W RA c p p iliom lr he ta y e n, in r sent tn loo p o le a choos ep tta e p ir t k d re iv ing oxim m su e e s e tr, h a nt ve w a te , tt y rit e ig his a s a h LGB ly g h a t 9 m b rin r et y R on in ir eL TQ Am em e tir G g 10 g e B a e L ent TQ st r s n G cd la B l= p e e im TQ 1rss r ,od 1 ic a 3 ta tof 2 A u o us ns ct m b L s e e a G in e or r nd B ic c ont in TQ st aa inc ns vc es rh inc ibut om ( tm 639 at ent us e ing om , s. w L f G e or m or B 36% g one k y TQ Am re our oup rs a y s t it nd o m ue ator r the ion 168 ic ea p lik ns la re e n in e ly t, ir rt ee o a eg c s) d a h inc is .r d a For le grss oe m te he of et ha t your company, such as downsizing, closure or reorganization, not due to the COVID-19 crisis; because of changes in the skills Fi Fig gur ure e 57 9, N , H on ow -Mo 3W 5r % e tg ll D ago e Re Detb irte ’s I me m nt p aSa ct von ings P Abili la ty n P t no = a2P r,t6 a ic 7r7 ipa tFigure ic , Pip nt era ce s Und ten 15 in or C tage e rst Yes a ont nd ribut Certea in I to a nv n Em estm ploy ente Op r’s Re tions tir, eb mye L nt G B PTQ lan, by PT la hnni ink ng in fg or a fut bur out e hea your lth a cur nd lron ent g- tf er in m a c na cia re nee l sitd u sation, how would you describe your level of debt? I Fi Fint g gu ur r ro e e duc 52 41 annu tit ion y; 9 w 0 % ork for pay; and financial support from family or 37% friends are current or expected sources of income 1 10 00 0% % 40% 67 00 %% Those wIor nc k ome ing s w ta itb hility or: tEn hin suk rin ing n g a =of s 2, e 6 w t a 7or 7 mou kinn g t w ofit in hc an ome adv for lif isor e , n=1,471 Preparing for retirem 84% ent makes you feel stressed Figure 32 A re , m tPir e ee rric e cs sa e ant 9 ns 0% a.yg e the Wyho 32% ret Fir ee ed l The ea 83% rli ye H r a 36% tha ve n p Not la B nne een Tr d 53% com eap te ad re Fa d w ir 67% ly ith 47 p by Fina ernc c 83% eia ntl Se of 66% rnon vice -s C LGB om TQ Am p 66% aniees, b ricayns L. GThi BTQ St s hold ats us Retireme 70n % t Con C Five M on fi fid den ost en ce Cc it in H ed e Surve R an ea vin =2sons ,g 67 7 En , Pou for R ery ce g n h and et ta M g iring e on Dey is a Ea tg h trrlier T o eee Liv LG e Com han B Pla for TQ nned tab Communit ly , y L GBTQ Americans 40 a %re more likely to be nlie =2v ,6e 7 7t,ha Per t ce the nir ta g hous e Ver ey hold or So ’s fin mew ah nc atia Cl p Hou onfid lan se ent nin hogld ne Inec do s a me re uni 81% que. Some financial emergencies (Figure 8). While not found to be significant across all income groups, upper-income non-LGBTQ 90% 79% 30% 65% n=2,677 37% t L RC ghe G roup B S, yTQ st ha t hi av rs g e ea m b trus oup eor e. n tr e inc lik ee a lude ly te tdo d fa arg ie rr spond ly e et ha tha n non etnt ts w he-yLho G do Bself TQ Am not- dke now sc erric ibe a wns he d t( rhe Fi e g ir to ur sexua g eo 32 fo)l o r. g Thi rood ient s e a fin xt tion a a enc nds 51% ia s l o tg o arMille y r, elteir sbia nni emae n, l a nt 34% b nd p isla eB xua nni abng y l, B aa oom LG sexua dvicel , tB ha TQ n require • • d fo For In th r y e oe a ur cth g w 9 9job 0 9 0o % % 0% e bo ner etr t ya e ot rur ion: he C sonfid k ail lt Lls G h st B no TQ ence a LG lon tus A Bg m Tg e Q e in Ha r roup rma icatc ns s ( ving hing e axc re e job Enoug m lleor nt re e/q vlik uire e h rey M ly me g oney tood o nts 76% sa ;a y y tnd o o inc u Tg ( om a ood w kae e nte )s C : td L a a /G b re w ili BaTQ Am tn of B yt) is to a m sic d or eo r e ic s a o im me nsp or thing artea nt m e or ls tha e e ;lik n yo eu ly to be Percentage Saying Figure Very or So 3 mewhat Importa 27% nt Ra Stacte us /E ................................ thnicity63% and Income ................................ ................................ 74% Family and friFig endsure ................................ ................................ 52 ................................ ................................ 74% ..................... ................... 38 12 1 80 00 %% 30% Workers n=1,545 in retirem 39 5% 0 e % nt than non-LGBTQ Am 28% e Pur ric cha ans sing. a homFigure e* 13 29% 80% 30% The Retirement Confidence Survey (RCS) was condb uc yt e LGB d for TQ its St32 atnd us year in 2022 to measure attitudes toward, true in t 35he 00 % % middle-43% a Thr ndou upp gho er-ut incR om etire e gm roup ens. t29% , b y LGBTQ Sta 43% 13% tus and Health Status and Inc 10om 0% e ................................................................ Figure 50 .......................................................................... 24 goals, like saving 30 3 8 % for 5 0 % % retirement, top the priority list for Fig many ure A68 mericans regardless of LGBTQ st 51% atus. However, beyond Americans are more likely to say that 58% non-mortgage debt does not ne 32% gatively impact their ability to participate in or Suggested citatio 70% n: CopelExp and,enses CraA ig, m D a ount uring nd L Held is a R et Grirem e in Sa enw ent aving ld, b , “Re s y a LGB tir nd em TInvest Q ent St C a onfide m tus a entnd nc s,e Incom Surveye and the LGBTQ q non A (ha ue md ee -/rL rha ic G , a or B vns e TQ Am )o , t to w he ho cra,e re 6 6 9 or a r0 0 0 ic r % % % fo e a w ns r m ho aor (sFi d p ee o glik sc us ure re e ibe ly o 38 r td o a ) . t no d he is the a irg g r re e fami e nd w ely it r h th ime dent mb e it st y ea r; a t e s tm he tre a re nt ns ( g t w he e ende re y /ha ha r, v vg e ee b b nde e ee en) n tr r57% n con e ha a-ng tc eonfor d e sfa air t m ly yo ing, b ur y 78% c fin or omp a o nc ta he ia ny, l se r. s uc rvh ice as s • • m not L In th G aB int c TQ Am e onfide a m ini 8idd 0ng %e nt le rw ic -te inc a ha a ns lt Sh om th th t ahe a re e re a y g m n non r(of R oup or and e :etire l- ik tN L he e G on 45% ly B ires TQ Am - tspouse Lo G W sa BTQ Am ho y e t) R r ha ic w etire a till ns e t he rha ic . d y a v ns e r Ea e e ta ir nou rlie re ed m r, L geh mone or aa re lie t er lik r , t eha or y ly tn p W to o liv he c la ur e nne n rceom Pla nt d, ly for nn w w hil ted or ae bk ly ,n w on thr it- h a L oug G B phout TQ Am rofe ss the iona eriric a l ns are Major Problem Minor Problem Not a Problem 56% 4 85 0% % Cha27% nge in C39% onfidence in Having 56% Enough Money to Live C 76% omfort31% a 77% bly 1 Figure 21 58 00 8 % % 0% 26% 84% 56% By Craig Copela 19 0 70 0 0% % %nd, Employee Benefit Rese55% arch Institut All e, and Lisa Greenwald, Greenwald p reparations for, 7 a0nd % unde Online rs reso tanding urces an d of resea the rc hv ya or u d ious o o nis yo su ur 46% e o43% s/ wnproducts for 46% 20% retirem 44% e 27% nt by America 54% n workers and retirees. DExp eveloect ping a ed stra R teg et y irem for reduc ent ing A deb g t*e of Workers, by LGBTQ 61% Status 43% Fi Fig gur ure e 10 58, , P Ce onfide rcent 6 90 0Ext % a nc %ge e ent in Ha W ho of 19% v A Exp ing re C ect Eonfide noug edh M nt or C in The one urrent y tir o A L Sources b ivili e19% Fig t y C o ture o mfor Cof Incom hoose 56 tably tThr hee oug Right (Nhout et I nv M Re a est jor/ tir mee M m nte inor s for nt, b Source) y Their LGB TQ Sta Sit, uation, tus b ay nd 50% 42% 27% a couple common 33 0 0 % g %oals, LGBTQ Americans are more likely to place 73% 72% a var 18% iety of other financial goa 49% ls at the top of their contribute to an e 1m 00% ployer 51% ’s retirement plan th bya n LGB are T Q L 28% GSt BTQ atus a Ame nd ric a Incom ns (Fige ure 9). 53% 23% Community,” EBRI Issue Brief, no. 560 (Employee Benefit Research Institute, June 14, 2021). c dom owns paiz nie ing s a , cnd losur the e ir o r rre epo 39% rrg ese aniz nta ation, tives c aso m a56% re pasrult ed ow f it the h non b 39% y COVID 25% LGB -LG T-B Q 19 TQ Am St cris atis us e ; rtic he a ns na ture in those of yocur ohor wotrk s ( oFi r g ris ur ke a 33 sso ). c ia Fu terd the with rmor yoe ur , 1 Fi Fig gur ur ee 33 69 r fin m e , or t Pe a irnc e er m clik ia eel a nt e nt 6ly 0 a Td % hroug g y v te e o is aor W sa rs t ho y or hout ha t ha F re n non etp e r l The t R e he et sent - y irem L y r G e aB H ttir TQ Am iv a ent 28% e v ed e t ha a N D b ot 56% ue out n LGB e rB ic te a w o t e ns he n Tr TQ Am he Pa . n th eae te e nd yr d ic p Fa em la ans n irne 56% ly .ic, d b.b y y Fi LGB nancTia Q l Se Sta rv tus a ices C nd om Incom panies, b e y LGBTQ Status 24% 24% 8 77 0 00 % % % 27% 32% 59% 35% 24 5 50 0 % % % 37% L GBTQ Americans have disproportionately lower financial resources, and how they feel about ret 35% irement and financial Research 25 7 59 8 0 0 % % % 0 0Pe % % rcentage of Emp 42% loyed Workers Who Are 42% Offered a Ret 32% irement Savings The RCS found t4ha 0%t Americans in 2022 had near-rec b or yd LG -high BTQ confide Status 48% nce in ha 23%ving enoug 24% h mone 65% y to live comfortably 7 80 6 0% 0 % % LGBTQ* 23% 23% L Inc GB om TQ e 5 St 0 ................................ % 10% atus and O 4% vI er nc all, om 12% how e ................................ 90% co ................................ nfident are you t46% hat y................................ ou ( ................................ and y73% our spouse) will................................ ha................................ ve 38% enough 36% ..................... ................. 12 39 D lisatt sa , s auc reh a wes b ight uy e2 ing d 55 D 0 % ev % by elo a ahom pg ing e,a e sex, st, rarte eg d L yuc G for Bing Did yo d TQ st rawd ing ea b u inc ttus , rom etir or , e hous e g in No r rear ow et ne ire ement ing lier of hold thes th a * e inc a fan yo m om ilye u t,hr pala nd oug nnrh a ed aced b /e op ec thni ta ion o us 65% cit e…? yr. b Unw i rth. eight Thee yd a sa re m als ple o m size ore s a lik re e ly to Figure 31 90% 47% 20% 31% work changed due 40 to % COVID How co-n 1f9, id ent and a ry e oy u ou ( no 62% alon ndg ye our r ( w sp is ous he Fig d e) /w ure ais bout h) 17 to th e wfo ollow rk ain nymore g aspec ; y t o rela u 22% o ted r s o to me ret oir nem e in ent y? our household in 5 to 3 in 10 Americans, depending on inc 24%ome and LGBTQ status 34% , say that they 39% disagree with the statement that they • Mid and dle G-e a ne nd raupp tione ................................ r-income LGBTQ Am 33% er ................................ icans are more likely t ................................ o be not confident tha ................................ t the Medicare system ..... will 24 26 5% 0% 38%Plan and the Percentage Who Pa LGB rt TQ icip 53%a28% te When 69% 30% Offered, 42% 40% 23% 33% 36% 35% security is clearly 3 6 5 0a % %ffected 43% by havm ing oney few to erliv re esour comc for es ta . bLly G B thTQ Am roughout er y ic our ans ret air rem e m ent or e y ea likre s? ly to have priorities other than 40% throughout retire 7 In total, about how much money would you say you (and your spouse) currently have in savings and investments, m 8 00 %e %nt. These 59% levels held despite the ongoing impact of the COVID-19 pandemic 33% and inflation. 77 00 % % 60% 6 35 0 0% % 0% Retired earlier than planned, 17% n=597 Copyright Information: This report is copyrighted by the Employee Benefit Research Institut19% e (EBRI). You may copy, sa not ye td he on y ha cha ve r tot s t 6he 2o 00 8 % % 0r p % rfin ov Yo C aide nc onfid u w ia in ill l p for ha ence rior m vea it e tie ion for noug in Ha s m h or m ving m eo a im ney rg p in of Enoug or to tta ant ke er r t h cha o ar M r e n sa eoney st ofim y vo ing a ur tte o bs. The for aK sic eep r e et x ir p m e Up ea m ns rg e eW in of nt s d it . ur h t Cing onseq ehe C 23% rr y or our w ue ost rould e nt t irof ly em , bL e eG nt ± B TQ Am 2.5 pee rc re icnt an as ge Fi Fi Fig g gu u u •r r r e e e 42 53 1 L2 G BTQ w 24 00 % or % kers are more C rlik eate ing lya t w o illsa , trus yt ,t or ha estt atthe e py la nthink they will work for pay in retirement than are non-LGBTQ (had/have) an issue that was41% related to COVID-19; you w 17% ere offered an 20% e36% arly retirement package or 49% your employer believe financial serv Did yo ices com u retir p A not including the value of your a pnie er e son ear s unde al, lier profe th srsst ion a b a n pl ay nd l f ina LGB a how nc nn iaT led, Q a primary residence 55% t d 53% o vSt isa he or* a blp tout w us the and m hen w or defined Incom it ph r lann eted, ir e benefit plan assets? em or ent la ter (Fi g th ur ae n pl 34a ). nn ed? Fi Fi g gur ure e 59 11 c, , ont Top Confide in ue Thr 5 3t0 0 nc o e % %ep e r Fa in Ha ov cide torv s Wor b ing ene Efit k noug p s of lach M ea Re t le one tir ast eym e te o qnt ua L iv P l va e la C n lu n=2 oPm ea ,r for t 6o t7ic 7t tipa he ab ly nt b e s C Thr neonsi fit oug s r 21% d he e out c re W iv Re e he dt n Se ir be ym rle e etnt cirte ing , e bsy I tnv L od Ge B ast y TQ Sta m tha en n th t tOp us e tir a ion nd non s, b - y 40% Realistica 50%lly, at what age do you expect to retire? 48% 32% 3 20% 0 0% % 20% Over4 t0 h % e past6 y 0ea %28% r, how 80 % has th1 e 00 C % OVID-19 pandemic and its health and r etirement savings, 20% which would mean t52% hey could bene 32% Fig fit fr ure om7 increased assistance in balancing 19% competing financial 50% Fi H ow gureev e 34 r, , tP he er c su e3 nt r 20 v 7 0% % 0 e a % y g ea ls Wo ho found 49% Belietvha e tFi m na anc nyia w l C orom kerps a anie nd s D 27% re n=2,415 no t= ir2 N e ,6 e ot 7s ha 7 Und ve en’ r 27% st t a pnd repH aow red tor o H de idn’ lp Them Wit t prepare h Re for rteir tir em em ent ent a,n adnd • In the m 6id 6 00 % Td % o le w - ha and t exupp tent e (d r-o inc you om ex 46% e p g ec roup t eas: non ch of th -L e G follow BTQ Am ing te o rb ic e a/ns is ea are ch m of or th ee lik follow ely tin o gc ) hoose a source managing their print, or download this report solely for Living 18% p/eInfla rsona tion, l and bnon y LGB com TQ me St rc a ia tus a l usend , pr Incom ovide 26%d e that all hard copies retain any and c pould oints for bene w fit or fr ke om r 6 1s, ± 4 2 0 5 0 0 % % inc % % r 3.0 r eased eti raess es, ista and nce± in b 3.5 for alanc L ing GBTQ resp competing ondfin ent anc s in a ial p si rior mila itie rly s. si zed random sample. workers. 5 07 % 0 Y% ou (had/have 48% ) a health problem or a disability, not relatedRe to Figure CO tirV ee ID-1s 9* n= 38 1,132 60% 15% 40% incentivized you to take an e37% arly retirement; 12% as a result of 55% the COVID Non-LGB- TQ 19 crisis, you w17% ere not comfortab44% le with company 10% Workers who gave an age n= 19% 1,114 26% 55% 50 4% 0% Saving for a child's education 17% LH L GG e BB a TQ coun lt TQ Sta h Stattus tus er ................................ ................................ par ec 11% ts. onom ic effects imp................................ ................................ acted your confidence th ................................ ................................ at you (and your s 24% 22% pouse) ................................ ................................ will ........ ........ 13 39 33 00 %% LGBTQ Non-LGBTQ A T A G L A N C E Debt’s Impact on A 52% 31%bility to Save for Retirem 13%ent/Live Comfortably in p riorities, such a2 s d 5%ebt rYe our duc emp tion, loyer su or ip nf23% p oror of ma t in ting ion co ym ou fa e m rec inily eiv ret , e ir a aem nd t work ent the ? ir Net ow M n long ajor/M-in te or rm So sa urce vings. In addition, financial service 151 % 0% Very Confident Somewhat Confident Not Confident the pandemic mostD a oe ff se yc ot ue r c d u rt re hose nt emple loya est r o ffa eb r yle ou a to reha tirendle ment s atvhe ing sfin plaa nnc thaia t al im llo 46% wsp ya ou c tto of mait ke. contributions from your sa 22% lary, • • • L For sa For Fi GvB na ings/ t e TQ Am he a nc c h g ia m 5 in 6 0l P 0 idd % v % < e e e $la n r 1 st le ic e ,0 nni m r 0 a -a 0 ns e a tng, ion: nt n $d a 1s c r ,0 24% b upp e 0L y o 0m G -m $ LB e 9 or G p ,9 r TQ B - a 9 ein 9 TQ Sta r le c ik A d om $m e 1w ly 0e ,0 e it rt 0 tic h p o g 0 us -a r $sa oup ns 2 ur a 4y ,9 nd c a 9s: L tha 9rha e Inc si $ tm G ng 2iom 5B or t,0 TQ Am is 0 e ae 0 -im lik p ................................ $4r9o e p ,9 d ly or 9 e uc 9 r tta ic o tnt a $b t5ns ha 0 et ,0 o t not 0a 0us g r -e $iv 9e c 9 m e onfide ,9 a s t or 9n a 9he e d $ lik m ................................ 19% 1v nt 0is e 0g ly ,0 24% or tua ha 0 0 tw -o r $ ta 2ho sa t 4 nt he 9,9 y eha y 9 et 9 d ha (s a inc ha $ nd t2 t 5he om d 0t ,0 he a 0 ye 0 si + ir r ..................... for e m spouse tir ila e lif r de upb eta ha )r w li rn inging eill r 25 1 40 0% 00 % % all copyright and 5 ot 0% her applic Percent able not aic ge e s c W 23% oho ntaFeel T ined the hey rein, a Do nd Not you Know may W cit ho t e oro Go t quote o for small portions of the report 1 30 6 0 % 0 % % changes, policies,3 0 a% nd/or proh ca ev de ure enough s; andm yoney ou ha to d liv ano e co the m r for wo tark bly -re th la rte oug d h re out as o yn. our retirement years? 15% 13 5% 0% 41% You (could/c 61% an) afford to retire earlier than y33% 42% ou Fig planure ned 32 15 00 0% % such as a 401(k), tax-deferred annuity or 403(b), 421% 57, or thrift saving 35% s 14% plan? Employed full- or part-time n=40% 1,086 40% 0% Retirem Pen lant t, o b ret y ir LG e or B T hQ ave Stra ettir us eda nnd =2,4 Inc 77 ome 47% 57% 56% 33% 31% Starting a busines 37% s* 11% 14 50 % O % nline ad LG vic Be TQ or advNo isorn s -tLG haB t T pQ rovide LG guB idTa Q nce bNo ased n-LG onBTQ* LGBTQ Non-LGBTQ LGBTQ Non-LGBTQ companies could2 m 0%ake LGBTQ Americans more comfortable in the 8%ir 0% interac 20 tions % 15% , 4a 0s %these 60%indiv 8idua 0% 51%ls1 0 a0r% e more likely to 20% 29% P Fi Fi W le g g hil ur ur ase ee e ov 12 60 not e, , re P C one e onfide precr- e ctnt e hir 45 0nt 0 a nc % % d g a e e g of e in Ha of s in t all A 49% W 81% o v m he ring kep rfigur la ic Ec a noug e ns e Re s m re h M tp ir 33% a 47% or ey m one t not e tha nt y ttt P ot o tla he a L n l to 100 p iv yP ed a 81% C r ot o ic not m ipa for k e nt now rtc a s Sa e bnt ly w tThr d is ho ue fie oug td to o W g hout ro ound ith Va to Re for ing rious t ir ga e ood nd/or m A espe nt fin , m a cbtnc is y s of si ia Lng G l a t Bhe TQ nd ca P t r e St le a gtn, a or irte us ie b m y s. A e a L nt nd Gny BTQ Figure 70 t L or ha ha G v B lif n p e TQ Am e e e la noug xp 2nne 0% ee r H h mone d ie row ic nc ta ha ns co en non s a . nfy id s t Good t ent o he -L liv a G m re B e , T c y Fina aom Q ou ( n a A 25% for m a d ncia n ve t d is a r ic or y bour l ly a A ns w t d s hr ho .p vice ous oug is e) thout ,he n a b = b y 2 sa out , 6 LGB tm 7 he 7 te hir e g T r Q fe ollow ende tSt ire a r in m ta us a g es t nt ashe py nd ec em a t r , Incom rs t ela and ha ted n non a n a te o ret dv -irL is em G or Bent TQ Am tha ? t is earn a icans lly. of the The provide Retd ir e tha me t nt you C9onfide 0d %o so ve nce 41% r b Sa ur tim ve y a nd (Ar RC ew y S) oit 12% u h p w cua rrr e s c op ntlyond e cr o nc tu rit ib c a utt te in ion. d g m for oA ne ny it y ts o us 32 thee r nd eb tire eyy m eond ea nr t sin 202 a v tin he gs p sc la 2op 33% n 77% ? to e m of ea the su rfor e aetg tit oing ude s reof quir Am es E eric BaRI n ’s 30 5% 5% 0% LGBTQ 44% 44% Non21% -LGBTQ Figure 22 40% Percentage Who Feel They Have Not Bee 11% n Treated 34% Fairly by 52% 2 20 0% % 72% formulas* 25% 47% 41% Fi gure 35, Perce 1nt 100 0%a %ge Who Feel They Have Not Been Treated Fairly in Their Workplace, by LGBTQ Status and 8 Bei 90 n% g able to leave an inheritance to your children or other 39% 20% You (wanted/want) to do something else Less th12% a 68% n $35,000 $35,000-$74,999 $75,000 or more 100 40% % Overall The fund or investment The to40% ols and resources The to32% ols and resources The The2022 factoRC rs o S ffin e3 rce 0lude % d asd c a ho n o icevse in rsa the mAg p s le urve e of y L G wB eTQ re pw erfo orkrma ers nc and e/grro etw irth eeo s t ve o r e time xplo ; rm e a atc nd heis d e ynt our ifyris pk ot 65% to ent lera ial d nce iff ; e fe re enc s; es in feel that they ha1 v0e % not bee 2% n treated fa Oir ffly ere b d a y nfin ema pnc loye ia r-l se sponr so vric ede r ec tirom emep na t snie avins. L gs pla ow n ne =r 76 -2 and upper-income LGBTQ Americans 2 10 5% % You will have enough money to keep up with the cost of living/inflation 22% p d la iffnni ereng nceas in subg dvice, 3 1 3L 0 0 0% G 0 %r %B oup TQ Am s not 27% eerd ic a in ns t he ar e t eext 39% ve a nr e m st orae t is lik tic ea lylly to sife gnif el th icaent y . dIon’ f th t ekrnow e ar ew no hern eot to attions urn. in t They a he figur re le ess s, t lik he er ly e ta o re St atus ................................ LG Ge Bne TQ+ rat 4ion c 0om % ................................ muni 2% ty................................ as crit 88% eria 6% for................................ choosing ................................ a financial a................................ dvisor t................................ ha 20% n non-LGBTQ Am ................................ er................................ icans. ............. 40 13 workers and retire 80 e % s about issues surround Remain ing in fa y m r ou e ilyt r ir m pre em em vio be ers* unt s e.mp For loye tr's he pl a fir n 30% st tim13% e, in 2022, the RCS included an oversample prior express perm 40 is %sion. 86% For Fina pncia ermis To wha l si Services C ons, p t extent do yo lease om cu agree ont p 12% a ac nies t or disagree EB, RI b y a tLGB p with e 31% rT m the following state Q issi Stons@e atus ab nd ri.or men Incom g t?. e 90% 10% 0% 8% 23 00 % % 3% Financial experts or o gu ptio rus n in s av the a m 43% ila ed ble ia available to help you available to help you 10 1% 0% Figure 69 Income ................................ 20% ................................ 46% 20% ................................................................ 2 ................. 25 80%There (were/h44% ave been) changes at your company, such as downsizing, 14% Non-LGBTQ 5% n=2,677 a retc tit oude mme s, e nda xpe tions rie 10 90% nc % of e as, a prond fe 4% sb s8% ie oha nav l ior fina s r nc 18% eia lal ta ed dv is to or; fin e aa nc syia inv l m ea stme nagnt e 53% mtha ent t a ad nd jusp ts re fo pa r rying ou b for as e re dt o ir 20% n em ag ee nt o.r ris In p k to arle tic ra ula ncr e, ; Fi Fi Fig g gu u u •r r r e e e 13 54 32 LG BTQ retirees are Debt is negatively 30% more likely timpacting your ability to o say that their ove sa ra ve ll life for rest 11% tire yle me in r nt/live et ir coe m m fo 35% e rta nt b ly is in w re or tire se met36% n ha t. n they expected it to are also more lik1e 0ly % to say LG the BTQy have ha Non d -LG O tr fBoub fe TQ red a le P alan cce LG ss BTing Q Cor on tribu utNo ilitin zin ng -LG M g B oe Tn Q m e*yp W loy hee n O r- LG fsponsor fe Bre T26% Q d ed b No en ne -LG fit BTs for Q their 1 2 3 29 0 0 0 0% % 0 % % % Be automatically transferred to an d e ete xis rmin tinge IR h A ow much to determine how to no worsi kg w nif itic h a ant fin da iff nc 5% er ia el a ncd ev s.is or a clo nd sure a orr ree o rgm anor iP za ur te ion, c ha lik not sie ng du ly e li f te t o o itn hs esu ur CO ag 48% nc Vg IDe -e 19 st cr ist ishey fee 24% 10% l unfairly trea10% ted by financia 10% l services companies. • LGBTQ Am 80% 30% ericans who report their health stat 33% 8% us as excellent/very good or good are more likely to be not of LGBTQ America 70 ns % LG t Bo TQallow 59% for an ana5% lysis of the challenges that LGBTQ workers and retirees 24% face in preparing for 20 5% 3 % 0% 0% LGBTQ 16% To wha 9% t extent 9% 60% do you a 73% gree 21% or disa 9% gree 11% with the follow 17% 34% ing73% ? 18% 6% 100% Workers’ Expectations About n=2,677 Working After Emp Ret loym irem en ent t St vs. atus 96% 100% Representatives from your workplace retirement plan 13% 71% Fi Fig gur ure e 13 61, , C Top hange Fi 10 1v 2 % 0e 0 % % in C Most onfide Va 10% lua ncb ele in Ha Impv rov ing em Enoug ents t h M o Re one 21% tiry e m to ent Liv Sa e C vom ings P fortla a94% b ns ly, Thr as Ra oug nk hout ed b Re y Thos tir 57% em ee Offe nt Drue ed ta o P the lan, by 10% 0% All 19% 20% 19% 18% 19% 19% 15% 10% 9% 19% save 32% generate a stream of 70% 68% investment matches a well-known index; investments are selected for me 35% by an account manager or 46% tool based on input I L GBTQ Americans are more likely to have lower incomes and assets. 31% Due to 66% these 62% unique challenges, this Issue Brief Figure 43 be before 80% 70% 0% they r LG et Bir TQ e L*e ds st th ha No an n n n $ -LG 35 on B ,0 Be T0 7% Q - au 37% 0LG toB matic LG TQ r BTQ a*e llyt ir tra e N n e o 90% ss. n fe -$ LG rre 35d B ,0 T t 0 Q o 0 y -$o 7u 4LG r c ,99 B u 9 T rre Q* nt emplo 12% Non- yLG er's B plan TQ 39% 14% $7LG 5,0B 0T0 Q o *r more Non-LGBTQ R d Fie ep gp ur eo nd er t a 36 ent , vs or P ae ilra c b bil ent e 1E 8 0 ne it s0 a % t% ag y fic be : lis h ia Thi W inr gho i Y/g e s r ou You d s, rowi (hF e aw e p d/ ne or g hic have l The o at n f h ) a Tis tot o mi oc ca lw ould y k ar y v n e th h H a ow fo a rou ila a rt a v ex b g sw b e po hel h ta e us ent N o hin d eot opt on o to r d a d iB n g on o e t ot o e he r y hor e ing et ou a ro n Tr fam h pint a rfov or v it liy g e n he i d m e g g rr er ee ea ne oo ir mtbe e d tful or d r a f in d l p Fa t is a w a n ir aw g cia r ly t rw ee ic in The l .e ipa or w b r it t ret h ion in i.or ir tir h em e gW fent ollow or the k pp se la in la n g c p n ? e in r , og gb a r ya d L m vG ice. s. BTQ Sta 13% tus and Financial service c 5% ompanies, representatives, and advisors could m 9%ake LGBTQ c21% lients and prospects feel more confident that the L BMe GTQ* dicare sy No st n- eLm GB Tw Qill continu LBGTe Q* to provid No e n- b LGB ene TQfits of aLt B GT leQ ast equaNo l va n-Llue GBTQ to the benefits and living in retir 1e 2 0m % 0%ent. Questions in Ret clude irees A d in t ct his ua ylly ea D r’s su oing rv eSo, b y explor y LGB e prTior Q it St ie a s in r tus ince og ma er fd ro m to yo p urr s ea pva in rg ing s for retirement 26 02 0 % 0 % % 47% Strongly Agree Somewhat 61% Agree Disagree 90% 17% 36% 5% 85% 90% Less than $35,000 $35,000-$74,999 $7c 5hi ,0l0 d0 35% 49% ren* or more Millennials Gen Xers Baby Boomers L PG ande BTQ Sta m 10 1ic % 0% , tbus y ................................ LGB 51% TQ Sta 83% tus and 34% Inc................................ ome ................................ ................................ All ................................ 83% ................................ ................................ ......... 40 14 • • • L I In e n th GBTQ Am ae c h inc low 5% 0% 0%ee om rr-ic (e a le ns g ss r oup a tha re : n $35,0 m Lor GB eT lQ ik00 eAly ) m a teo nd ric sa a m y ns idd n t ha = a2 r le ,te 6 - t 7inc 33% m he 7,or P om yer er e cen e lik t ir g ee trly age oup d teo aAg s: r dlie is rLee a G r g B tr ha TQ ee n p tA ha m l 62% ate nne t rhe ica dy ns b fe e a c er 14% a l th eus m e eor y 24% t he ha e lik y v e ha e ly bd e t/h e o n f asa va e yir a t ly ha he t ain lth provide; recomme Onl 6 60% nd 0% 0You f % ine ations com ee m l uni 13% fro you ha ties m tha av tfrie e foc bus nd ee on no s f 9% ra er fami ir vily ng ta rlea y sp ; ec tied nve ific b gr s y 12% tme oup fina or nt ncia is l d se er sv ig ices n7% ed co tom p p ro an vies ide aa 31% 46% n d stre their am rep of res inc ent ome ativ in es.retirement; it’s the more closely examine Sourcs e : L Em G plB oyTQ ee Be A nem fit Re esr eic arca hns Inst29% ’ it up tee anrd spe Greec nt wiv alde Re s of searchr e 202 tir 2 Re em tirem eent nt Co us nfiing dencet Sur he ve ym . easures d in ree tir vee me lop 55% nted in the RCS. 10 0% 0 So %urceT : arg Empl e ot ye D eate Ben Fu efit Re nds se ( arT cD h Fs Ins)t i itu nte anH d o Gw re T en D wF asl c d Re ha sen ar g ce h o 202 r 2 RetirH em oe w n t t 16% Co o c nfi h de oo nc se e Sur th ve e rig y. ht16% Environmental, So 28% cial, and 70% 0% 14% 14% Generat7io 0% n ................................ Excellent/Very Good................................ Good................................Fa ................................ ir/Poor ............ 26 c omfortable in the 0% ir interac11% tions perhaps by emphasizing the commona 24%lity of some financial goals while also received 0% by retirees t You od (ca ouy ld/ t ch ana ) n th afford te o ir ret irnon e earlie-rL thG anB yTQ coun ou planned terpa 14% 47% rts. 32% and experiences w 11 0it 0 % % h theL L GB Lfin 76% GB BGT TT Q a Q Q ncial syst No No No e n- n- m n- LL GB LGB GB tha TT Q TQ Qt may c om a L Lff GB L GB m Be GT un T Tc Q Q iQ t ty LGBTQNo No No A 6% n- n- m n- L LL GB GB e GB rT Tic Q Q TQans’ retir L LGB L GB e BGT m T TQ Q Q ent prep No No No ar n- n- n- a LL Lt GB GB GB ions 44% TT T Q Q Q*. 85 00 % % 7% 0% LGBTQ 39% 42% 23% 13% 14% 6% 3% 37% 17% 0% LGBTQ g*eneral Non-LGBa TQ djusn t in =2 ve ,6 s7 tm L LG G 7,e B B P T n TQ Q ts er * o 0% *ce ven rNo tag n-1 e Non LG 0% D Bis T -L Q Ta G Dg B FrT f 2ee Q o 0r y % ou 30 L% GBTQ G 40 o% verna Non n5 c0 e -% L(G ESG BTQ ) 60% Tabl e of Cont 150% 8 00 %% ents LBG 14% TQ* Non-LGBTQ LBGTQ* Non-LGBTQ LBGTQ* No 15% n-LGBTQ Figu •r e 71 t I p the rn th reob a p tle e e ad m st upp 6b 0y or y %e e fin aa rr- ,inc a d tnc is he om aia b C l se ili eOVI t y gr , rv oup not D ic-e 19 s : re c Lp om la GaB tnde eTQ Am pda nie tm o ic C s a OVI e arnd nd ica Drns t-e he 19 la a ir t,r e e trd ha e m p he n no ror ease e lt h lnt n ik -ca e Lonc t G ly iv B e te TQ Am o s t rns sa ha ylow n non te ha re ic tr a e i- tns d Lis G t.he B im TQ Am irp or confi tant edr e ic tnc o ans us e .in ha e an a ving dviseor noug who h One emp loy finear nc de ia faul l solu t o So t p 0% ion ur tion; ceLe : Et mha s s pl i t nve oht ya eL e n s BG $ etme n 3 B e 5fiTQ Am ,0 t Re 0 nt 0 sear is $ c3 ha 5 e I,0 nc srtiv t0 iic t0 ut-a ee $ an ns 7 ly 4d ,9 ma Ga 9r9 ep en p nw $ a e 7 ag a 5 lde ,0 r Re d 0t s0 e o b o ary cb r m h e a 202 o e fu re 2 spe Re *nd tiLe re c m m sia s e t na h tlly na Co an ng int $ fide e 35 r; ne ,0 cr e0 r e Sur 0 est c veo $ e y3g .d 5niz ,0 in 00 e -is / $k 7 4 p no ,9 rod 9w 9 uc the $7t 5s t ,0 na 0ha 0me or m t p o orf re ov fu * ide nd/ inv gua er sa tm nteent ed 50% 0% LGBTQ Non-LGBTQ LGBTQ Non-LGBTQ LGBTQ Non-LGBTQ Fu A ppendi rthermorex , ne 2: w 9 0 Figu % questions re S wteat re ia sdtdie ca d tl his S ignif year to icanc evalua e te K pe rior y it9% ies in regard to preparing for retirement and Very Confident Somewhat Confident Not Confident Fi Fig gur ure e 14 62, , P Cr ha efe nge re 60% 6nc 0 % in C No e n- for onfide prof Re 0% it orga tir nc e nie m za 10% tin Ha e ion nt s tha Sa v t 15% ing v focu 20% ings Whe sE on noug ser30% ving h M n C a sone 12% p ha ec 40% n ify ig c ing to LE iv 50% m ep LG C loy om BTe Q 60% for rs, b tay b ly L70% G Thr BTQ Sta oug 80% hout tus Re ................................ 90% tireme100% nt Due to the..... 41 acknowledging d 35 iff %erence LGB Ls in GT BQ L TL es Q es tshe s t t ha ha L n n G $$ 33 B 5 No Non 5 ,TQ cl 0 ,0 0 n- 0 00 -LLGB GB ie TT Q Q nt *s’ cur time rLe L LG GB G nt B B TT T Q Q Q fi $ $3 3na 5 5,,0 00 0 nc N 0 0-o -$ $ia n 7 74 - 4l p Non LG No ,,9 95% 9 9n- B 9 9 osit T -L L Q GB GBion a TT Q* Q* nd diff L L68% G GB e Br T Te Q Q $ $n 7 75 5 in c ,,0e 0 v 0 0 e s in fut 0 0s or tm or m m e No No ore n ore 23% t n n- our -L p LG GB tio e BT 9% n T Q* g Q soals. Importantly, Less than D$ o 35y ,0 ou 00 think you will do a$ n 3y 5 ,0 w 0or 0-$k 7 4f,or 99 9pay after you retire? $ 75,000 or more 0% So 70 ur 0% % ce: EmployeL eGB BeT nQ* efit Research InNo stitun- teL an GB d T G Q reenwald Rese Lar GB ch T Q 2022 Retiremen N t on Co- n 50% LfiGB den Tc Q* e Survey. LGBTQ Non-LGBTQ 40% 40% You (had/have) a heal Mtih ll e pnni roba lelm s or 55% a disability,65% not related to COVID-1 Gen 9 Xers Baby Boomers Figure 37, Percentage Who LGBLe F TQ e sse tl The han $3y No 5 ,0 H n 0a - 0LG ve B TH Qad Trou LG b 55% Ble TQ $ 3 A 5c ,0c 0e 0ss -$7ing No 4,9n 9- 9W LGor BTQ k*place BLG ene BTQ $ fit 75s for ,00 31% 0 o r m Their Noo nre -LG D BTe Qp *endents, by LGBTQ 4% 11% 0% 35% Less than $35,000 group or communi$ t3 y5,000-$74,999 $75,000 or more c I inc nt omp om rod ae uc ny; for tha m io I one n s a lif d ................................ ie d y , n’ si a t tm o s m 7 sila 0 e liv % le ridd e c r t a cmy le o cia m -W l/ a for inv ond e rkin te thni a s g upp b tme w ly cith ................................ b e tnt a a h r- n c rinc o a oug kp g dtions r om vound ishout or t eh ; L at m G tthe o h a B as tc TQ Am tir he a he s rm im e s39% tilar y ir a o e e ................................ nd ur m rice v a ant ie n a ns w Wo y s p d e rv a o rki e is n rn fe s t or g sr w oha c ha w ith ia n non ho an v l ing a ad nd is v tinc - ................................ e is he L o nvi G r t 13% om B sa hro a TQ e t m nme is st t eA h a e g m nta b s ee a ili nde me rl tic y ca a g rtns us e o a ns t m . d e e sa r as ; he int .......................... om the a ini a rs c ;ng and rit we e n ra o ia lt ne h. for o f 7 0% Workers who 37% say they will retire n=1,345 I n choosing or consi 4 80 0% % dering a financial advisor, the criteria that LGBTQ Americans are more likely to say are important e Fi Pxpe lan gur rie eC nc 23 hanges e s with the and finEa xc nc 30% L eLoans GB lle ian Tl sy Q t/ M V ile lst ery nni e m als No tha n- G 37% Lto GB o m d TQ* ay affect F a L 51% L GB ir/P G TB Q oo TQ Gen r A Xer m E se xc Nr on e ic lle -La GB nns t/TV Q* ’ erry etireme L G GB nt oo T Q d p Ba re by p Ba oo ra m t No e ions Fra sn- ir/P LGB .o T o Q* r The demographic5 p 0So % rM ur ofile c uc e:h Em b spl e a t oty er n ee d t B ha ec Mille nnom e fi exp t Re np s ec n eosit ia ar ted ls ch Iion o nstiSom tuVe te an ewh f ry d t /S G he a o re tme e b nL e ww G ta ter lh d B a Re TQ t 5% t ha W sen ar e c exp p llhop G 202 ec e2 n ula t Re ed X No e tit rrs e t ion in m TAb o en o tout /No Con tfit t he de he At n s A c a e m Unit ll We Sur e ve as ylle .ed xp St ectB a e a t dby esW Bd o ors iff ome ee tha rrss fr n exp om ec tt ehose d of the Figure 3 Pandemic, by LGBTQ Status and Health Status ........................................................................................ 14 L GBTQ respondent 50% 30% Sos su ur So cur e:c E e g m : g E pl me opl yst e oe y e Bt e eha n Be efi n M tt e Re ifilt lte she Re e nni ar se cy a ar hl s c Iw n hs tIa in tu snt ttie tu an t et d an o G d rw e G eror n ew en ak w ld a Re w ld s Re it ear h f se car h c 202 ina hGen 202 2 Re nc 2 tRe Xer iria etm irsl p e em nte Co r nofe t Co nfide nss fin de ciona e n c Sur e Sur vels y ve . y.with w Babhom y Boo m the ers y share some common Non-So LG urB cT eQ : Em Lpl GB oy 70% T eQ* e Benefit ResearNo ch n- InsL tiGB tuteT Q and GreenwaldL Re 11% GB se Tar Qch 2022 RetireNo men- nt L Co GB nfiTde Qnce Survey. LGBTQ Non-LGBTQ 60%There (were/18% have ra b c eia e18% nl/e ) ch th an n gic 18% es bac at you kg r 19% cro om u pa nd ny t 16% , o su y ch o as u downsizing, you 30% Less than $35,000 51% $35,000-$74,999 50% $75,000 or more Fi Fig gu u •r r e e 33 56 Non -LGB So 3 TQ ur 0c % e : r Em epl tir oye LG eee B Bs a eTn Q efir t e Re sm earor chNo e Ins tn ilik tu-tLG H ee an av ly Bd T Q e G tro * e y eou nsa wa y w ld Re or tha sLG k e28% ar ed t B c T hhous Q 202 for 2 pay Reitng ire No m s e No in e n nt-xpe ce y LG Co n-LG n B fiTns de Q ou BT nQ e c ers a * et Surir ve r ed? ye . a 61% b LG out BTQ the sa 13% m No en -a LG 26% s e BTxpe Q* cted before they Figure 63, St Pa etrus ce nt and age Inc Wom ho G eH o ................................ o adve Taken a Loan or W ................................ ithdrawal fromG Their ood ................................ Retirement Savings P60% ................................ lan, by LGBTQ Status 26 50% 0% 5% 10% 15% 20% 2 28% 5% 30% 35% 40% T the hose se. offe choosin red a g p So la a So ur n c fin ur eca : e Ea r m : e Enc pl m o pl m yia o ey e o l a e Bst e e B nd e elik n fiv e t Re fiis e t Re sor ly ear se c ar tt ho ha c Ih n sc Itn in non tit su titte e u tan eb an d e G d -t rL G t ee e rG e nr e w B nae w TQ Am ld a xpla Re ld Re se 40% ar sena c ar hce 202 t hr ions 202 ic 2 Re a 2 Re ns ti refor tim r. ee m n e thow n Co t57% Co nfin de fi de m ncn euc c Sur e Sur h inc veve y. y. ome their savings will produce in Thus, a greater unde 60S So % ourc urr c est e : :E E m a m pnding lpl oyo ey ee Be e c L B nes le e o fn sb its ur e Re y fi te ha ts o Re efin a rn rc rse e$ h o ar a 3 r In g c 5nc sa th ,i0 tn ut I0 in zeia 0 a s tt ia tion, l se u nt d e G an nre otr e d v n du G wic a re e l d te e o n Re t w h c sa e eom a l d CO rc Re h V 2p s0 Ie D 2a ar 2 -1 $ Re nie c 9 3 h c t5 i202 re r,is 0 m is a s0 e 2 0 nRe - t $ C nd 7 to ir4 e n,fm 9 id9 e t e9 nhe nc t e Co Sir urv n fier de ye . np cer Sur esent vey. ativ $e 75s of ,000 or the more unique needs of the for this choice vs. non 70% -LGBT 27% Q Americans are working with an advis13% or who has had a similar upbringing or life 30% 20% 54% ov Dee m ra og ll p raop phic ula st ................................ ion 4. 0So % Lu G rcB eTQ : Emp lA oym eee Be Mriic n lle ea n fitnns R ia e................................ lss eare Ve arcry h C Im nso tior tn uf tid e e R a et elik n n d ir t ee G erly es e n n t So w o = a me 1 lha d ,1 Rw 3 ev ................................ s G 2 h ee a ,en a t P rc low C er Xe h o 2ce rs n 02 e f2 id n r R e teinc a n tig t ree m om eYes ntNo e Cs a ot nC fidnd o en nfc id ................................ e a e Su ss nrtve e Bt y as .b, y b Bo e o m young ers51%er, and ....................... have lower 7 W life it h th expe er c ieha nclle es a nge nd s of who the d e pm ande onst m ra ict, e7 the peyr caernt e a of n t ahose lly to w the ho L ha GB ve TQ+ sav e com d fo m r uni rettiry 45% e . m ent say they 67% have taken a loan or 40% LG LGB BT TQ Q N No on n- -LG LGB BT TQ Q So 50 ur % S c oe urc : Ee m : E pl m o p ylo e44% y e e B e e Be ne ne fit fi tRe Re ss e ear arc ch h IIn nsstt itiut tue te a an ndd GG rere e ne wn a w lda Re ld sRe eas rc eh ar 2c 02 h2 202 Ret2 ireRe me tn ire t m Co en n fitd Co enc n e fi de Surv ne cye . Survey. 16% 34% Less than $35,000 20%$35,000-$74,99957% $75,000 or more 42% LG 53% BTQ Non-26% LGBTQ* Fi Fig gur ur ee 15 14 re , at nd C ironfide ed Inc tha om 20nc % n LGB e e ................................ in TQ r Having etirE enoug es. h Mone ................................ y to Take Care of Ba................................ sic Expenses During Re ................................ tirement, by LGBTQ Sta .......... tus 41 The retire am dv ea nt nt a and ge inv of 25%an est m oveent rsa op mtpions le is ttha het a pb rov St ili ro tide y n gtly o g Ag c ua on rerea trnt ol eSo for ed me lif im we hp t aim or t Ag te a re nt inc e fa om cD te or is aa s gft re te ha er tt he are y rst er tir ong e a ly s m ass ost oc ia va te lua d b wle it h many of Fin S L R Gavings e Bt TQ Am • anc ir eIm ial n th e e and Pre ric nt e B a low ns ac So 6C 0 ur % c e kgr o could er:nfi - E mapar pln o ode he d yund e em lp Bat enc idd neL fiions G t e Re le and B s - eTQ Am inc arch om I n YP s o tu itur (w e te eiori an r an g ic tr d ea d/ oup Gns w rt ean eie n s tw r ) : e t a o s ld a N do Re con h th ssom ear- e cL th hG e i202 ng ir B e 2 TQ Am lm s Re e tor ireme e nd t e Co iv rnic e fide r ase ns nce sa Sur ar ve v e yings g .moreoa likls e ly w hil to est prrong oviding ly or tsom he inc ewom hate agree • In each inc 10%ome 0% group 2: 0% Non- 4L 0G %BTQ Am 60% e8 r0 ic %ans1 a 00r% e more likely t0% o hav2e 0 %$223% 50 40,0 % 006 0 or % mor 80 19% % e in 10a 0ss % ets than LGBTQ e 9 xperiences as the 25 00 % m %, working with an ad 42% visor who is the same gender as them, a 33% nd working with an advisor who is an Fi gure 38, Percentage Who Feel They Do Not Know Who to Go to for 8% Good Financial Advice, by LGBTQ Status and health statuses. Thi So 3ur 0% cs is e: Em pla o yc e 66% er Bit ei nc ea fit lly Rese im archp Inor stitutta e an nt d G cron eenw si ad lde Rersa ear tion a ch 2022 s fin Retirema ennc t Coia nfil r dene csour e Surveyc .es (i 22% ncome and assets) have historically w Th ithdr e lia sw t o af l p fro om tentia 90% the Sour l No ir cim e : w n Ep m -ro o plr ov k yee p eme la Benc ents e fit Re sa so ev ar ff ings p ce h re Instd itu te a la an sn d c G ho in t reeic nw he e as ld Re w lase st ere ar c12 ha 202 s m 2 fo Re ont ll tiro em w h es ns t: , Co 28% b a ne nd fide tte nca r enot Sur exp vehe yla . na r 12 tions pe r fo ce r nt ho w took muc one h inc long ome e ry a og ur o than • • For For t Mille he m nni idd Sour acls le e: - Ea m inc nd ploom yeB e Bae eb n ey g fi tr Re B oup oo searm c: h L Ie nsG r tis tuB : teTQ Am an LG d B GrTQ Am eene wa rlic d Re a 44% e sns er aric ca ha 202 rns e2 m Re ator r iree me em nlik t or Coe nely fi de lik ntco e e Sur ly sa ve tyo y .td ha ista t ghe reir e tcha urr t etnt he y e m fepeloy l th ee r yoffe hav rs t e b he ee m n No So 4 30% 0 ur % n cSo -e LG :ur Em c Be pl T:Q o Em ye pl e 34% o By ee ne e B fit e Re nesfie t ar Re csh e Iar ns c tih t21% u It n e s tan it47% ud teG an re d en Gw re a e ld n w Re asld e ar Re csh e 202 arch 2 202 Reti2 re Re me tirn e tm Co e 21% n ntfi Co den nc fide e Sur ncve e Sur y.47% vey. 6% 43% A W W A Tur W A The ss n e not he hil he e nin e t n a n a m t he op s a te ghe rr sk sk nd t four g po e e e la dnc d d q iff D c ue e w t e r y e o e b A r hic st or a e tsele m sons ions nc ................................ h e su e ra c ic d s in t t p on a d for p tns e he rn la o p a ta ir rra k e c ior k ov ing h r cing g e 12% it te e iv he ie rte e a he a s r xp y r inf c loa a e hin e fir ror la ns e n st t g m 12% iv lik e ................................ fr st a fin e om c e t e a ion o ly ta p n d o nc ta in p ro e ia e w tn r 11% trir l p a or a re k il e e k e m rp 9ta io p ir a b e n ind la rr e nt e it ing c m ty e w sa e in r e p int for v e v la idua ings, n ma p n e 25% ................................ rla te ir anni tl’ re ir e s r na m low e tng m e e he gnt ting e e ir is nt r sa e -— m ta tm are hr he n e m e nt d oug 12% ir a fo not upp int p sa rh th la av b nni e ini st ings/ ot r45% a - e ng h LGB inc ng, ................................ t is w 14% t in w om or i c so ha v e a ke a TQ a e lly pst lt la L h (p m si G cve e g B ing nd . n nif TQ Am r14% Y tes on non e ise e ctnoug a , rnt v 17 -ing t L e he G b rh mone p ic e B ir e t.................... a TQ Am w rns ow ce ee nt a n o n LGB ry e of e r tm r o icor a TQ ns e 9 Figure 43 (cont.) 38% and Inc 40 om 1% 0%e ................................................................................................ 8% .......................................... 15 t he results relating 0%to retirement preparations, in partic 18% ular household income. The RCS has historically demonstrated improvem tha ent t s t the o y 50 t fe he % 2LG 5e -ir 3l kn B 4 Tw QYor 3 ow ou 528% k -w 4p ele 4rla ed ofc g 4 fee 5e re - 5a dp 4 a b la nle en ( 5 ar 5a ly- 6 b Fi r54% e 4 17% tout ig rem ur 6 e 5 ne m - t 7 p4 6 ac a1 na kag ). 75 g e o oing L rr o yG ou ld B rt e e TQ he m r plir oyA ed rm ae yr-ic toa-ns da E y m a r plo fin e ym a enc d ore es t U lik nha ee mplo ly n LGB to yesa dTQ Am y inv Retire est e drm ice an ns t .op tions that stability in retirement they tend to prefer. One a I To n lly2022 g of a of uge Lt, G he A tB he m how TQ+ m e r RC ost ic w a S c ns or b om So a ak .sk ur si e m cc er e :s a uni d Et ma pl seve sk nd t oy yes of e(r BFi e r ea ntg eir l q r fiur e te Re te ue e ir ss fe e e ar 4 st m c2 hions ) e Ie n. l snt tiUp ta ut b ep a an out p b la e d out nni r G - rt einc he e ng nrw e om ir aspond ldis r Re e ed st eir L oi arG c e e ng hm B nt 202 TQ Am es’ a 2 nt Re rfin t e irp et m r a ir e ospe nc e e ntrm Co ic ia e na l fic nt ns de a ts, t n nd c ne a e Sur rhe e r e ve e d m t ys c RC ir . or ea m S e lc e ha lik ula nts e t p ly ion. ala nnu tnni ha A a n non ng s a lly sk a w sk - ill hole Le s. G dB W , A TQ Am only m heen loo ric 4 a ens in rk ic ing 10 a how n s at t o The importance of 14 0 So 0 %b % ure ceing : Empla oyn 13% eea Belly nefi ta Re ls seo arce hxt Inste itunds te and t Go reetnhe wal dw Reor seark cp h la 202c 2 e Re. tirE em m enp t Co loy nfie der ns a ce Sur nd vey.HR representatives are fairly low on the Figure 64, Inc Peom rce 2 e nt 0 2 ................................ % 0 a % ge of Those Who Sa................................ ved for Retirement and ................................ Hav11% e 20% Taken a Loa 22% n o ................................ r Withdrawal Who Too ................. k a Loan, b 27 y ha savding a sc le wa ill r p cro ord ruc ela et ion to r in retiree me tire nt m ; e inve nt csonfide tment n oc pe tions and tha respo t pro ns ve ids t e g o ua mr 47% a any nte ot edhe life r RC time S m inc eo trme ics . aC fte onseq r you ue rent tire ly;, m this ore I ss fuue nd or 12 months. 10 The likelihood of having ine cv ene tivi r zetda yk oe u tn a o tak eloa an en o arl33% y rer ti rew mit enhdr t awal does not vary with income, but middle- and upper- • fa a For r ire ly t tir hose te re m 3a 0 et % w nt ed ho sa by sa v ings p fin y t ahe ncir la ia 77% n th l se hearlt a vh st tic a ellow s c atus os t m is p he aenie m xc te s a o lle m nd nt a/v kte he e rcy ir on g rte oo rp ibut rde sent or ions goo a tfr iv d om : es t L G tha he B 5% TQ n non ir sa Am la-re L yrG ic tB ha aTQ Am ns n non are e -m L ric G or a Be ns TQ Am lik . ely e to ric sa ans y . 80% LGBTQ Non-LGBTQ LGBTQ Non-LGBTQ LGBTQ Non-LGBTQ LGBTQ Non-LGBTQ 20% 12% 12% 10% A st p ( c lik pFi ov ur r m a inc e g te c ly e us ur ha rripa ic te e su o a si s for 6 l/ ns ng a c7 a h a g ). crd c a eis e ount n e e p a a They a r r c god e xpe h inc rt eir b uc ee a ns m w la tom r e e t it nc eha h th nt is not ee t s) g im sa g r e in t oup iv o v p st ings is not re or s t a inc he t , ta e the nt om he m sa m e for m e p nt e g est r ua indiv tor c a a ha e b rp d nt a ili tr e nt ior idua a t try he , g e it b e ( ey e s w y ut d ls ns fe r inc e t tur e ho he o la l th om ing st t iv r inc a e e e e y p y a ide or tfor 'on o v set a e tnc t he ha tlif bre e a e v m s of e c c , ing k n f ur ount m . rThe idd a te e he ir nt v ly le e of r r lik ne -t e r inc p a a e e e e nd sons a lih d ro tsona s of e m ood u de p b in t p for t lly e e of he tr w he -sa ir lif A ie nc im v e e fa r e n LGB ) om e w m d r — or ic ily for e a k L non ns p G ( TQ a Fi r lB a e a g c TQ Am t-ir g e ur L. r e G nd e e m A B e m 27 TQ e ing non nt e ong ). r A ic td -H ha m L a o ow G upp ns e tsh B rt ic TQ e he in t ow e v are n y - r h s a , fe e e re l 9% Sou 0% rce: Employee Benefit Research Institu 32% te and Greenwald Research 2022 Retirement Confidence Survey. significant differe 4nc 0%es in how respondents in lower- and upper- income groups respond to survey questions. Therefore, Re p rov tiride em e gnt ua C ra on ntfide eednc life e ................................ time income after they ................................ retire would be a most ................................ valuable improveme ................................ nt to workplace plans.......... . 12 22% e co A lis sa a m ty nfi c e h inc of trd ha ic e ta rnt tus ns om w tt or he e ree d k p y g ing sour or ra oup rte w ha ctit , e ha v h a s of aing tt le n a the a fin pst e d ya r v ft nc a is or w nd or ia o m - l a t e tw hir he dit nd h th tir dhe s of r spouse e b e tir aA sa e si m m c m e e st w e rnt ic e ill r a p a ph ns cla of ia anni v l/ a figur eg e ng e t rhni e ne oug ing inf c tha b or h mone out a tm ctk he a g how tr ion, y ound fe y m t e b o l uc ut a k liv now s t h mone te his he co le m b m d e, g for lie yw e a ts t or th b ae le k b he y ing ly a ir w b t ill hr rw out ole oug it ne h a m e ahout d sa n a na a to p d g ha rt v ing ov he isvor ide e ir t he sa rw re ho ir v tof ir e d e dc is a m rb y ie t ty -ic he to nt ta he - l Figure 16, LG Confide BTQ a 0% nc nd eI nc in D om oing e ................................ a Good Job Preparing ................................ 29% Financia 0% lly for 5% Re 10%tir15% e................................ me20% nt, b 25% y LG 30% BTQ Sta 35% 40%tus ............................... 45% and 50%Income ......... 15 42 inv Brie ef s tme closely e nt options xam 1 3 ine 0 0a % %va s iltahe ble r;e b sponse etter es of xplana LG tions BTQ fo Am r w ehe ricthe ansr , yto au king are int on o traaccckoun with t som yo 10% ur e re oftire the me se nt ke sa yv d ing em s;og mro are phic on e-on- income LGBTQ Americans are more likely 26% to have ever taken a loan or withdrawal than non-LGB 4% TQ Americans (Figure • I tha n th t in t e low he 20% e p r-ainc st om ySo LG ea ce Br ia T ,Q g l Se t *rhe oup cu rity C: OVI LNo GB D nTQ Am -- P LG 19 ers Bo Tp Q na al nd e rertire ic em a me ns LG icn B t a a Tsnd Q r ae * v in m r ge sor laAn e te No l id ik n d n e he iv -ly LG id a u B tlt a o Th conc Q l re sa 69% tire y me tha enr LG ttns B it T Q low A is *w im oe rkp rp eor la dc No tt e a he re nt n-tire ir LG t o c me Bonfide TQ us nte anc n a ed in ha visor vw ing ho Endnotes 15% 33% 15% 14% 13% si w A m m t Fi inc he m g he g or idd nif om ur y ee n a rle ha e ic ic lik e -a a 39 s v A ns nt e a k em ly nd , e e d d Sour a e tnoug iff rr o a u e ic b p e sa a not out p rcns e e e y h sa 10% nc r s of , m -st p inc e 23 a ra s, w v ior na tI om ings to is p nfor it g e tit iie ing e rcc h a s m e glln nt r a y a toup on ha si he t si ion U of d-ndle g ir e L s a nif L G sa fr G B ic om rsed B v TQ e a a ings/ TQ Am n e n m m tfor A or ly m a m inv e na d e e Re iff r lik e rg g e ic re te ing s ic e ir a rtnc ly a e m ns ens nt m y e t d o m n .e a or d nt t y sa The or s on is - 35% su to y a e P g la -d tlik td r ha d op nni te a he e e e y tly n la r ng, t inc ir fin e ha t a o ow a rom son tg b nc sa te y n com he e e y e L for s, xpe st y G the B a ha L L TQ Sta b G p y ns G ili v a Bha e B t r e TQ a y e TQ Am b v inc dis e e w t e us r m sa nd n tr e itor a h LGB v ................................ e ses no e e e rd ic a im n ta a e w -c ns L TQ Am d p it rG or oss h inc fa B is tTQ Am ir a tly nt e o om a e c in t c rtov ic ha h inc ea e he e n ma ns (rrF ic ir om a igur a ( not w Fi ns int .................. e o g e he r ur ha g a k49 r ini p e roup v la e )ng 31 . cte h ) . eI n 28 Figure 24 70% 30% 10% 18% 9% 4% Fi ma gny uE r B e of RI 4t he and figur Gre 3e 0e % s w nwa illld us LG w e B ould Thous Q* lie khold e to No tinc n ha -LG om nk BT Q e the as a 20 2 cLG 2 ont 7% R BTr C Q ol S * tsp o onsor see No w n s w hic -LGho h d BTQhe iffe lpe renc d LG sh es Ba TQ by pe LtG hiB s y TQ st No ea nr -LG ’a s su tBus TQr p ve ey rsi : st Am ee vr eic n aw n hen 6% 27% Source: Employee Benefit Research Instituteo an r in d G ve res etm nwe aln d ts Re , ss eu ar c ch h as 2022 Retiremen ac t Co cn o fiu de nn t c o er I Sur Rve Ay. savings plan, s26% uch as a d sa t yim e am a ye r e fin s. I t he gae n nc y nde 2022 reest r ir (a Fi e , s t g rso t e ur he tir eha m e 23 m , t e a )tnt nd . he I n y cw onfide tcor he an liv k ing low nc ee w ec r it -om le h a avnd for en a lsm t a ad idd m bvly is ong le or in r -inc w beot ho tom irh r e ha e m e g e s a tir nt roup e . e si The s a m s, non ila nd lik r w upb e-lih or LG k ood rB inging eTQ Am rs of are ha o ne r ev rlif in ic ae ra g ns a ed ll xpe one -a tim re r i e e tm his nc highs. Whi or e c e s a a lik lcrula e e ly im t ion tle p o or a cinc onfide g ta re nt re e atses he ncy e fi Fi Fi na g gu u nc r re e ia l a 57 35nd retirement benefits. Though most LGBTQ workers feel fairly treated at work, some 3% report having trouble one, personalized e0% ducation; more online educational tools; more investment options designed for after you retire; more Fi d iff na enc renc ial B esa w ck hil greound com p aa nd ring Pritor he itm ie st ................................ o non-LGBTQ America................................ ns. Key findings are: ................................ 9% ........................ 19 63). Within each inc 12 00 % %ome group Les sb th ya L n $ G3B 5TQ st ,000 atus, there a$r3 e 5 ,0 no 00-si $7g 4,9 nif 99icant differences in t $75,00he 0 or m tyo p re es of loans or is enoug affilih mone ated wit yh to the li 21% v ire ecm om ploy fore ta r b in som ly throug e whout ay a s a the c irr it re etrir ion for ement c y hoosin ears tg ha an non financ -Lia Gl a BTQ Am dvisor etr ha ica n non ns. -LGBTQ 4% mutual funds, CDs or 401(k), tax-deferred Fi ( sa Fi c H Thos t w ehe Fi om m ow e g g m g a ur ur e ur upp lt e p re e e e g h com a v e t e rc op e 65 17 e nc e ur 4 rd , r7 , , - r y tnon )inc w e w C P . p e nt e onfide it o Mille a xpe rom h 13 p ly r -c a e L e m G d c nt ns enni on B on 0% w a nc g e TQ Am g it r tg , e a oup re e h non r l a a ibut tc nd in Ha he of end nt , ir ing Tho 43 e for -r of G tL ic v op e G p ing t se a non n n X o e B ns on trTQ Am a hr W cE - e - a w non L noug e ho L nt rG e or G e B B of long k Sa m -TQ Am TQ Am L e ph M or G rla non vic B e e e ca d TQ Am e rone ns lik - - for ts L e e e a e G r( rr y v ly ic B Fi m ic Re ings p ta TQ Am g a sa o e ns fin ns ur trK ir y ic , e a e e a ( tit nc e m la ha Fi ns 29 p is e e n g ia t r ) nt Up u a ic . l p w ttrls o he For a e e a o rns W p rnd ior 35 y e a a it y e ha ra sa ). it h th e H xa sk off ie v y a A m m s e e v d m : e or d e a p d e sa a C le it noug w e Ta cna iona os rv ,h lik e k ing a 81 g d te e t ing it n a of h sa ly lly t p he a c e , L nd a t to riv L y r he Mille v c d oa ings for sa ie w inv ng/I ir b nt ould n o y ill sa nni et of st he or nfl r v a iings/ W m ng lik y a l LGB ca tr idd it ha e ion, n e ehdr for d tinv v le o itm TQ Am e a -r b ha c e inc e e w sa a ys t r22% rv a ir g tL v d om m e l Who Too e e G e d m nc e d d B ee e nt one rTQ Sta e ty b ic ha nt L s te a G . is xpe ns n M a B w nd TQ Am t it he a tk ns h th ill us r p e a ee a l n Ea nni a m a p e a nni nd p e ir or ca rrr o ic l a e ng o rly a ss ac nd ns h LBE GT xcQ* ellent/Very G No o n- oLd GBTQ LBGTQ* Good Non-LGBTQ LBGTQ Fair/Poo No r n-LGBTQ Century, Am 12 0 e% 0r% ican Funds/Capital Group, Ayco, Bank of America, BlackRock, Columbia Thre32% adneedle, Empower comparing respond 60% ents of the same incomes. In addition, other variables such as health status and generation of the 36% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% c in ha a w Fi arr cit g it e ch inc ur e ek rss v e now ia ing ing 40 w om le he , e or P e d noug n ch , e g ut re bca ut ili eb oosing h mone nt zin le w a it g a gh b ee in e out m W a yp n ho a tloy m o a cd h inc a W liv e v na ris or e -g sponsor or k c om ing om W (Fi e it for t g h o he gur rte oup ir a e r d b d Thi 4 ly b a , 3 e y ) t in r n nk - . he e to W fit e The -lik he d ts for ir aee n it yy lih m fin W ood e t he c nt a ilol Wor nm ir c inc of e e ds. s t e rha e k pL o a e v ow W ses nde ing w itor e h a rw nt u k p ing nde it s or e P h inc rrcofe w re tb nt a itom e ss k h a a ne eg iona n e e fic n a , s of this tia he l Fina drv ie tA ip a sor s, w m e sk nc re c r w d e ia hic ic oe nt ho a l Adv h coul ns a s not g is e aa is g of ff or rd d ili enon iff e a b or te e te ha r Re - d hin L by tG w ptd B it r he L e e TQ h th G r sent y ing B TQ fe ea ie trhe tl ivir e, environmentally or socially responsible investme cnt heco kin ptions g/sav ina gv sailable (ESG); fewer investme annt nuito yp otions r 403(b) a, vta hi rif la tble; one-on-one 0% 10% Ve 2ry 0% Confide 3n 0t % So4 me 0%what C 5o 0% nfident 60% Not C7 o0 n% fid23% ent 80% 90% 100% w 1 ithdrawals taken. 0%The m LG ost BTQ common Nonloa -LGn/ BTQ w *ithdraw LG a29% l ty BTQpes eve Non r t-a LG ke BTn f Q*rom wor LGk BTp Qlace retNon irem -LG eB nt TQ sa * vings are loans • A In th mere ic m ans idd 10. % le- and upper-income groups: Non-5LGBTQ Americans are mor28% e likely to strongly or somewhat See • AppIe n e nda ixc h inc 1 of this om es tud group y fo: r N the on -sL urve GBTQ Am y detaile sr.ic Als ans o saere e the mor 2022 e likeR ly e tire to c m on ent sid Con er d fid eb en t cte o S not urve by e, a Ap pril rob 2022 lem, ta ha t n for t lik sa Fe G e r Ehe e a xpe ete y w c n X ir y ly h inc fut t e e ha r w r m ie d ur L ould tis e tnc ha G om e nt a inc B W I e g n he nc TQ Am r p e o W it c e 1 la a hoose m om hdr e g it lt in n sa re t h Fina h a oup ha e 2 a 5 st 0 ................................ w e % tv nd a w r a v ings fr b tic tor he l, s. 33 p ha ili nc a long k b t ns y n LGB y e ia y rha il Se s ( L s m om -Fi ,G t v e e rg B e e r rr TQ Am or ur TQ Lc m a v g ess b e ic a e e e for nt c r e te d a h a im 4 s C n and le m rof 8 n e p ) t e ss e $ r om . or 3ne L re rI 5ic G nc a ,of t e 0................................ a e a p B t 0m 23% e 0 om ns d nt a TQ Am L d s ( p nie G . loy c fa e B Fi om s TQ st ir ................................ e g ................................ ly rur p e w a r in t e ic rhe a e28 a td he us ns n ch ). w ,. w it sB h 68 p $ a or a 3e nging y 5k y , 0tp ond 0he ................................ 0la -$c e y 7 4 e r j t ,ob a c 9 hose t 9e d ha 9................................ nt s j................................ us . n non For of tte w d non to yt, - he p L t-he e G L irrB G c tTQ Am p B e arnt TQ Am rior g................................ e $ of it 7t5 ie r ,non 0 e e 0 s d re 0 tic ir ................................ r o................................ ic a e - r iv L m ns m a e G ons re re B g in t nt TQ Am ein t som d his ahis t ec e e o si w in rhor nc ic ha c................. om ae t t ns : ( Ja e L Fi sa G nua c g ........ oho B ........ y uTQ rtr e he yr t 1, . y 16 42 24 16% 10% accounts, outside of an savings, money purchase, respond Retir ee nt m a ernt e , us Fie dd e lit in t y I hnv is e re stpm or etnt . s, FIN 12% RA, Jackson National, J.P. Morgan Chase & Co., LGIMA (Legal & General • • I For n th ee a cupp h inv ere -inc stm om ent e op group tion: : L LG GB BTQ Am TQ Ame erric ica ans ns a arre e m mor ore e llik ike e 16% ly ly tto o d sa isy a g tha ree t tthe hay t tdhe o y not fe e unde l theryst ha and ve tb he ee m n f tha airn ly • In each incomRe grou etireLG d e Ba Tp Q rlie , * L r th GBT an pla Q A nned m * eric NonRa -LG en tire B s Td a Q arbo e les ut whs e lik n pla ely nnLG e to dB *T be co Q Retire nd fid late en r th t in aNo n plan n h -LG a nB v e Tin d Q g enough to live e st k Anow m m atp e us loy ric le ( a d e Fi ns g r g e b in som ur a y bb e e Lling e G 4 B a 5 50% e 5% TQ Sta b )v . out e w H ra yow y m or , te a low us v som na e ................................ re 9% g , rie ng - G inc w eha n X sa om tv ings a c e aonfide nd LGB Bnd a TQ Am b nt yinv is B oom non e si e ................................ st g rnif m ica eins c nt 9% a s for nt -aLrly G e B highe m TQ Am the or efut rlik tur e ha erly e ic n ................................ , a tb t ns o he ut c a onsi a p rm e e rong m d ce eor nt r e tm a his g lid ik e e d im of ly le p -t L inc or o G ................................ t B sa om aTQ Am nt y e . the A Ac m yre os e ha rric s e ic v aa e ns ns a d c one h inc in e and atom c he ... h 28 e Fi ful asg sl p is uta r ae rnc t ic 15 eipa in tcion i onso n th li So dur a ce ting ese : Em pl p o orthe yo eeg Br r e a nre U em fi n ttire d Re s. e sr 6 eE ar me 0 c m h Int p nsloy titus t6 e ae 0 an v -ring 6 d s sh 1Gre se nould b wa a 6la ld 2 Re -nc 6a 4 see im ars c h into t 202 o 65 2 e Re y ns to ireur ur me6e nc 6 t Co urre -b 69 ne fine de nt nc fit ep 7 Sur s la 0ve o a n; y r O nd . a ld bb e ile ritne y to fit Ne inv av ce c er R e sss te in tire w cor ryk p to for curre thenc ir y L GBTQ Source: Employee Benefit Research Institute and Greenwald Research 2022 Retirement Confidence Survey. 11% Less than $35,000 Figur$e 3543 ,000 ( -$co 74,9nt.) 99 $75,000 or more (Figure 64), early withdrawals (Figure 65), and IRA ha or w rd ork sh pla ip ce distributions (Figure 66). or profit-sharing plan agree that they feel knowledgeable about managing savings and investments for the future than LGBTQ https://wL wG w B.TQ Am ebri.org 0% e/rdic oa cs ns /d.e fault-source/rc Mo s/2022 re Con-frc ide sn /2022 t U-nrc ch sa -s numma ged ry Le -re ss C po on rt. fidp ed nf t, and the associated fact sheets at 202 36 L w AG m ould ). B e 1 TQ Am rA ic ( long Fi lik ans geur te are w he erit ic 5 h a sa 5 m ns ) b. or v e 0% ings to b A ing in e e lilik ttm ale ecor ly h g le e te ss o e lik a ne ctut e it ha ly r e om a n 15 p d ttion a o e av tfe ic elop e are l th llery ing c ae ta ls rnt t ao a ns t he sa m st fe or y r ya r r te ha the e e d lik g v y y e te o p for ly Fig nla tot he tn to o r ure e b ir sa d e ne uc e y r19 n tr e w ing ttha ir e e etm a d la inc te p e tb loy e dto r , m fa , e pa e irur rnd ’ ly s p st c, ha a a lupp a b bsi n, ili out ng te y w r - is hic 5 p ainc hom m h is not e om or rce e e e nt , im Lst G sa p a st B or ry TQ A a t ing ttta is he nt tia y m c t aha b p e lly us la ric n n to r d ine aiff ns ss e ra, e ertnt a eirnd e Investment Management America), Mercer, Mutual of America, Nationwide, NEFE, New York Life, PGIM, PIMCO, $35,000-$74,999 $75,000 or more Financial Adv t non rea-tiL e cG d e B in t aTQ Am nd he A d w v eo is rric or ka psns la ................................ c. e than non- re LtG ireB me TQ Am nt sa ................................ vine gr sic pla ans n . ................................................................ 27 comfortably throughout retirement. For example, in the upper-income group, 89 percent of non-LGBTQ g inc c ( Fi Fi aBi a c rg g oup lc rtc om ur ur oss ula oe e in, e a t18 66 e ion t nd g a Ethe rc , , oup h g P P gha e e ere r rn e c c ( n LGB um, e ne e e Fi rnt nt a g rta ur a a ion, Bi tg gion, e TQ na e e 10 of of L nc G G non )e Tho W . e B LG n For TQ Am C o B- o r TXe L se Q k in, G e *e rB r W s or xa e s Wh TQ Am tc e ho m r. ic )p B ;Sa a le o No a o C ns b ,the A v e ny rit in t g e -r LG a ic d r B eria rre ; oome a B e he for e Ta ns Q m nd Tha Im m or Re a n r idd re e t s o tp ir ne P lik ( m ort le e Fi r LG e m or e -g o p inc ly a Be f ur e a T nt nt Q the r tom le ing ha *ik W a 4 e n non nd a e 6 ly hen for b ) g o . tH ro v oup e No Re aa - .Look v L g ne tG -, r ir LG e Ta B 51 ee B TQ Am m Ting k t Q e p he ent e n a ry for c Ma e a e L nt rroa e a k ic LG e of k a n o s Th B now ns TQ L G r *t e o W B lem TQ d sa it g hdr St y eA a r No w m e a bor ss w le n e -r LG a k eic a l Who Too ing db Ba , Tout ns Q bw y a it L trh a his G e B not n TQ Sta k fin a a a lly c nc H onfide a of ia r td us l tsh he nt ip emp • loy ee In th s and e upp the So So ir e urur r cd - e cinc :ee E : m Ep m ple om pl ond y oe ye ee e e B e Bnt g n ee nrfis. eoup tfi Re t Re se sar : ear cL h cG h In Is nB ts ittuTQ Am ittu e t e an an d d GG rere e en er w nic w ala d a l d Re ns Re se s ar ea ar cr h ce h 202 202 m 2 2 Re or Re tirte e irm e m l eik n etn e Co t Co ly nfi n de fitde o nc nsa e c e Sur Sur y ve ve t yha .y. t it is important to use an advisor who Source: Empl Lo By G eT eQ Be *nefit ResearcN h o Inn st-itLu G teB an TQ d Greenwald Re LBFig G sFig Fig eFig T ar Q cure * hure ure 202 ure 2 Re 40 21 37 t6 irem N eo ntn Co -LG nfi Bde TQ nce Survey. LBGTQ* Non-LGBTQ 40% Americans 0%. Figure 25 https://www.ebri.oSo rg ur/ cre e: Etir mple ome yee Bnt/ enefire t Re tire searm ch e Insnt titu- tec an onf d Gid reee nnc wale d Re -ssurv earch e 202 y fo 2 Rer tirs ep me e nc t Co ific nfi de re ns ce ults Surve fro y. m the 2022 survey. Fi gure 41, Perce1 nt 0% age C W onfid ho W ence ork W in Socia ith a Profe l Securit ssional Fina y Cont ncia inuing l Advis tor o Provid or Repre B esent enefit ative s , of a by LtG Lea BTQ Sta st tus and e a e m frst a ls om aro a int lie b m L lis ra.G or ini hin B eng TQ g lik /gr w e Aly e m ow a t e lt o ring h vs ic aa gns a r. e non fa e( Fi m tha g -ily L utG r e ttB hr he TQ Am 6oug 2 y )ha . h a Jus ve ed t rha ic op unde ad t ns ion o tr r( oub Fi 30 g r ur le ha p e e a v r c c ing 30 c eent )ss .c hil e ing ad cr h or e, n rut eag ili m azin ong rdlg e ss e the m of p irloy LtG op e Br TQ st - tsponsor hreea long tuse,d e sa rb -y e te n trhe e m fit yfin s for wa ould nc tia he l p lik ir e la n itnin g A Note on the Figures Fig Figure Fig ure ure 71 67 2 Principal FinaSo nc uria ce:l G Emplrooup yee Be, nRe efit Re tir see arm ch e Insnt titu teC an le d a Gr reinghouse enwald Researc , hT. Ro 2022 Retiw reme e nP t Co ric nfie de , na cend SurveUS y. Chamber of Commerce. • In each income Lg GB roup TQ* : LGBTNo Q n- A Lm GBe TQ ricans arLe GB m TQ* ore likely No to n-Lb GB eT Q not confide LGBTnt Q* that the No yn- (La GB nd TQtheir spouse) will Americans com Fina parencia d witl h 76 p A dvisor or R ercent of ep LG resent BTQ Am ative eric,ab ns y r LGB epor Tt Q tha Sta t ttus a hey a nd re Incom confident e about their c aom spep ca t r(eFi dD a g w nd ur isit te rh 29 p Iibut nc 24om ion, a Nnd oe te er : Tc ................................ hb Fi ee y un nt g dL ur e r G of $e 3B 5 Le ,L 0TQ a 25 non es 00s s s in t ) t cha h o.- m aL W nd e n n G g $ $ ro he 3B 3 up 5I 5 ,TQ Am nc 0 s,0 n a a 0m 0 0om p 0lesk sizee e ................................ we d ................................ ar s tic a oob a sm out ns all t. o st hohe w a$ir n$ y 3 3 5 re 5 hous ,0 li,a 0 b 0 0 le 0 0 - re -$ $ se 7 7 ul4 4 thold s, .,9 9................................ 9 99................................ 9 ’s financial nee$d 7 $s 5 7, ,0 5,low 0 0................................ 0 00 o ................................ or r m em r- o ore re and middle-incom .......... ........ e 43 17 L GBTQ+ ha com s ha md uni at si yPercent m is Pe ila C an im onfid rce r upb nt a pr or g ence a inging e g tae W ntW ho in M c or ho ritW elif rFee ed ork ion for e e ica xp l T WD e he it re reb c h or T ie hoosin y C Fig nc tHa ont Lev eure s a hink ve inuing gel s t Had 57 ( to a he Tw hey Pro cont m or t T o Provid k a rou b s a W w lem, .) it ill W b h a cle rit ork e A fin e B rcc ion f a W enefit nc ess it ia or h a l a ing W choosin s d Professiona v of a isor orkp t g (Lea Fi ag la fi ur st na ce enc l 44 ia )l a . dvisor than Percentage Who Agree They Are Knowledgeable About Managing Fi Sa 10 g vu ings a re 5 nd Preparations ................................ 28% ...................................................................................................... 31 Figure 49 Equal Value to Those Received Now, by LGBTQ Status and 27% Income The list I onc f re om ase 30% o ................................ ns for taking a loan or a ................................ withdrawal offered as................................ choices were as follow................................ s: to buy a home, car, o ................. r other large 29 Source: Employee Benefit Research Institute and Greenwald Research 20Fig Fig 22 Reture iure rement 59 Co 65 nfidence Survey. 2 t d p Fi Fi rr e a g g ior p ns u u eit r r nd fe e e ier e s r 57 36 e nt . d Is or n cont (c to o an bn e e t. rne a )xis st fic , Expect ting ia non rieind -s t LG ed ha iv T Bop idua TQ Am n up Sp Four R l r D en pe em ee td rir r-ic ing inc e og ea a m ns om e ra vs. sons nt are e p A a hic non cct c m for T ount or ua B -Lrea e G a l Spend Fig B li( k k TQ Am Ik ing RA ed ure lyowns ) t a o or 47 ing e Loa sa ha ri,y cb a v of n d e ns y e From R it v LGB ( e et Fi rlop eire g m T ur ing a Q a es, e in in th R St 37 a et b a st ) irem y t. us r Thi LG a et e p ent B s a g re y TQ vls for ious o St hold d a re ta us m w s t p ing loy rue inc e rfor ’s p om low la e n. in e r - Figure 31 Less than $35,000 Figure $35,000-$7 63 4,999 $75,000 or more An oversample refers to collecting more data from groups that are a lower share of the population in order to do a more have enough mone Equa By enefit l V to atlue ak s efor T tc o T Ve arry e heir hose C b of o y n t fLGB D id he R e ep n eceived ir t Tend b Q asi So St cent me a etxpe us a w N sh, a ow, b ns t C nd ye o LGB n s b fid Genera d y e ur n LGB T ting Q St TtNo Q he a tion t tSt ir us C o a rne a t fid t us a nd ir ee nm t Incom nd ent Incom tha e n non e -LGBTQ Americans. retirement So ur p cr How W eospe : Employc et es Bell D . eFina nefit Re o sncia ear R cet h Inirem l stiA tuted an visor or R ent d Gree Sa nwalving d Reep sears cresent hPla 2022 Re n Pa tirea mt eive rt nt Co icip n,fide ba n y cnt eLGB Sur s ve Und y.TQ erst Staa tus nd Certain LGBTQ Americans are morInvest e likelym tha ent n non s for t -Lhe GBTQ Am Futuree ,rb icy a ns LGB to Tsa Q ySt ta ha tus t the and y b e Genera lieve the tion ir household’s long-term Fi gure 25 non -LGBTQ Americans. As for debt, non-LGBTQ Am Percent ericaa ns g e arW e m ho orA e g lik ree T ely to hey cons Ha ide ve Enoug r debt to h not Sa bving e a p s ro to ble Ha m nd acr le oss a n each income group Figure 53 Percentage of Those Who Saved Fig Figure Fig for ure ure Ret 16 12 45 irement and Have Taken a Loan or purchase; The to peaxa y o c 0% tff w Tcop or red d T it ing hree cafr rdom b Fa ill tct o he r ors cq re ue d W it st ork c ionna Sa ard pving la dir ece e b, t; s w R Pla to ho et cn, irem ois v e b br y eent a ing no LGB the a Pla sk TQ r e n Pa ed me St ta he rg rt tus icip eqnue cyst a ent ion, xps eC ns aonsid nd e; ttohe ma er unwe kW e hen end ight s me ed et; because of Fi Fig gur ure e 67 19, , Top Confide Four nc Re e in Soci asons Percent a for l Se Ta ca ur kg ing ite y W C aont ho Loa inui Ha n Fr ng ve Ever om to aP Figure r Rov ePersona tide irem B 14 e ent ne lly Sa fit Sa s of vings P ved at L la e for n, astb R E y et qLirem ua GB l Va TQ Sta ent lue, tto usThos ........................... e Received Now 43 , inc r Re ettir om ireem m e ee Lnt G nt B aA TQ A nd ge b ................................ e m M ing So e a r uric na ca ea :b Ens g m le pl ing . o t yo ee Ble Sa ena ev vin fit e Re sa e g ar n inhe s c................................ hvs. Institu Pu tr eit ana rch d nc Gree ea nt w sin o aldt Re g he Figure s ea Fig ar ir c Pro hc ure 202 hil ................................ 2 d d 55 Reruc 29 te iren o mte Pr ntr Co ov ot nfihe de id ncring e f Sur ave m Gu yily . a ................................ m ra em ntb ee ers d a Inc re a ome, mong t.................... heir top three 34 20% Percentage Who Have Taken a Loan or Withdrawal from Their Figure 10 c omplete analysis of these groups by having Invest a suf m fic ent ient Op sam tions, b ple sizey to LGB contro TQ l St fo a r to us ther variables besides just the variable of Source: Employee Benefit Research Institute and GreenwaFig ld Reure se Fig archure 202 68 ( 1 Re51 cont tirement .) Confidence Survey. Figur •e 42 I, n e Cra itceh he ria Ia m ltp h st orta at nt us W ca he ten Look gory: N ing onfor -LG a B TQ Am Financia erl Adv icansis a or re , b m yor Le G B lik TQ Sta ely to tc us onsi ................................ der debt to not be a.............. problem 29 financial needs are differLe Wh G nt BTen Q tha * you n o loo the Non kr (e hous -d) LGf Bor TQ e a hold profes s’ L(s G Fi ion Bg TQ ur al *e fin 26 an) cial . Non adv -LGis Bor TQ or repres LG en BTQ tat * ive to w Non ork- LGBTQ Emergency Expense, by LGBTQ Status and Income Confidence Share in Ha of Ret ving irees Enoug Who R h et Mire oney d Ea to rlie Live C r, Latom er, fort or ably (Figure 4), each healt Percent h st Wa itthd us C a onfid ra cg awa t e eg of or ence l W W y ho T ork (Fig in D ers ur ook eoing a 5) nd a, n Ea a nd a Ret Good rly tirees W he W tw it Job o hd y ho oung ra Prep wa Ca el, lcula ra b g ring e yne LGB ted rFina ations THow M Q ncia a (nd Mille lly uch Incom nnia Tls hey e and Gen X) (Figure 6). • • For For Mille each inv nniae ls st H : ow m LG e co nt BTQ Am nop fidt ent ion: Select e arric L e G a yns B ou t TQ Am ing a hra e Invest t m the e or rSo ic ea cia m lik nsent e l a ly Se r e cur tOp o m it dor y is t ions, sa e y g slik trem ee eb ly w ty ha t ill o LGB t co sa the nyT t in Q y tha u fe e St tte o a tl th he t pus rov y e y d id o ha e not b venef e b unde e ite sn fa rstia rly nd trte he atm ed t ha in t n he job loss osa r a m sp ple ous sie ze ’s of job Cha t he los ng s g;r e oup toin co C b ve e onfid ir ng a fina aence sknc eb dia y a l LG in Ha rne e c e Bont d T Q a ving s a Fig St ine a a re ure d Enoug tus s in ult 61 a eo nd af c h COVID h Inc M figur oney ome -e 19; . A t ls o Live C too, coan ve r * is aom n e us d fort e uc da a ttion o bly sig enif xpe yns tha e ( t tuiti a on, by LGBTQ StaW tus ork and ers Im Inc p Aort d om just aence ................................ ing T of ba yIncom rg LGB et T RQ et e St irem St a atb us ent ilit ................................ a y nd A vs. M g Incom e Since Ja ainte aining nua W ................................ ry ea 1, 2021, lth, ................. 17 Retirement Savings Plan, by LGBTQ Status and Income Fi prg ior uit re ie s 16 . Confidence in Having Enough Money to Live Comfortably • LGBTQ Americans are more lik with, h ely ow to imp co ortn an sti d aer re/a d re ebt the to follow be a ing m cra iter jo ia r or ? minor problem for their interest, in this casExt e LGBTQ ent D oof yo su ta Exp H c ow tus urre ect co . n tH lyn o w R ed fid w o et rent k e irem w v or C e it h a r, a r e p the ent urrent ry oou t fe o s sA v io h e n g a Sources ra ate of R l fin ll th a e re Fig nM c sia ults ed et ure l ad ica irees, b v of Incom a isre 42 o re r o w s r r ye e sp ig tem ry ehte s e LGB e n w td aill ( tN iv to T co eet Q ?re n n = tSt ta M in 2,6 a in u a 7e 7 tjus , na or/ tPo eti rp cM o e rov n na tinor aid g l ere e Ye p Source) sresentation , despite the • In each g 10%eneration: Non-LGBTQ Americans are more likely to strongly or somewhat agree that they feel Fi W Fig g or ur u kr e pe la 68 44 ce , E Re xtteirnt em of ent Expe Sav cings P ted or la C Tns ur o w r ................................ e hnt at ex Sour tent c e ds of o you a Incg om ree ................................ e or (N de ista Ma gree jor w/Min ith thor e follow Sour ................................ in ce g)?, by LGBTQ Status ...................... .................. 44 37 than LGBTQ Am Thine kin ric g Le a a ns sb s tout of . h aat n y $ our leas 35,0 0 cur t0 equ rent al fin valu ane cia to l s th ite u $a 3ben 5 tion, ,000 efit -$ h7ow s4 ,9 rece 9w 9ould ived yby ou d ret es ircr ees ib e t$ oday 7 y5our ,000 ? lev or m el oof re debt? ThrougW hout hen RPla etirem nned ent , b , y b y LGB LGB TQ TQ StSt ata us a tus a nd nd Incom Genera e tion NeedT t o o Sa for wha Rtve for et ex irem tent R d ent o et yirem ou a , byFig g ent LGB ree ure ,or T b Q d y 23 is St LGB ag a ree tus a TQ witSt h nd a tht e Incom us a follow nd in e g Incom ? e Those currentlyT c hroug D on o ytorT uibut op thhout ink ing Five you R t wo et ill w M airem ost or rk e w t ir it V ent he a a m p lua e r o D nt feue b s ssa io le ntv ao t Im l ings p finhe Pa a p nrovem ciala l an w dnd visoe ent rem o re r r es a ic, psk rteo R se e b nd y ta et w tiv LGB irem e h in et the h Te Q ent fu r tSt u the r Sa ea ? ty Tus a h ving ounde se nnd os t r cst Pla u Hea rra end nns, a tly lt w co h St e rk rst ina ga int us investments Compared withb w yh LGB at b you y T Q LGB exSt pect a TQ tus ed Sta w and h tus en Incom you first e retired, would Fi stud gur ee nt 43 loa w non , or ns Crk -)it L p ;e G la tro B ia c TQ Am e c o Itm vha ep r n non or me etraic d nt ic a- ns a L W l G . e he B Txp hTQ os n Look ens e A w e m or s; eing k rtin ic og a p for ns w ay it. h a fo or Fi r tho na hin me nc kFig Figure in Fig ia g ol Adv ure r of ure c a wr or 35 8 is 27 re k or in p a g or irs w ; it Re ht o a p n r pe a asent y d v fo isr or a c t,iv hild ne =, 1 ,b c 4a 7 yre 1 L,G e Bld TQ Sta ercaret,us or a and nothe Incr ome . 30 statistically significant difference exists for the group that has the indicator. All significance tests are at benef Throug its of a hout t leas tR eq etu irem al vaent lue t, o b th ye LGB benef TQ its St rec aeiv tus a ed b nd y r et Incom irees tod eay? CritM eria arit Im al p Stort atus ant When Looking for a Financial Advisor, Which Yo of u thha e fv ollow e hain d g tr,o if ub an le y ,a a crc e ersea sing b sons y o LGB r y ut n ou = iliz n=2 2 T,t ing Q 6 oo 7 ,6 7 k St 7 e 7 m a a p loa tus loy ne frrom -sp o yns our or Hea e ret d irb em e lt nef h St ent its sa fa o tvus rin yg os ur plan? larger samp hole u soeh f Lo GBTQ ld th Ame a You f n n rio ee ca nns l -k LGB n tha owled T n Q w go Am ea uld ble e a wrc it a ic h tua b a a out nn ll ay s d m v ,b is a a e oFig rn c n fo a r =o g 1 un ure ,7 in s9s d g 1 ea , s in P33 a erv c the c in eh n g t in a sp g a o ec n p Yo d e ul s m in ation. v e grou estm entp s .f or In th the e fu up ture. per-income group, 64 How well do you understand the following workplace retirement plan investment options? knowledgeable about managing savings and inv Fig est ure me4 nts for the future than LGBTQ Americans. Figure 20, Confidence in Soci you s al Se ayc tur he itfy ollow Cont inig nui arng e hig to her Pr or ov low ideer B e for ne yfit ou now s of a tth a Le n a yst ou e Eq xua pec l Va tedlue ? to Those Received Now, So 0% urce: EPercent mployee BeT no ea fiw t Re g hse a ear t W c ex h In ho tsent titute A d ang o d ree T G yrou a eenwag hey ldr Re ee se ar or A ch re d 202 is2 a K Re gnowled triee reme w nt it Co hn fi tg h de e ea ncfe ollow Sur bve le y.in A gb sout tatem M ent ana ? ging What faR ct a or nk s d ed o Per y ou c ce by n tT ons ahose ge idSa ery Offered w in h g en Ver selec y or a t in So Pla g m in ew n, ves h b a tm y t Ient m LGB p or op T ta Q tions ntSt a wit tus hin your Non-Mortgage Debt’s Impact on Ability to Save for Emergencies, P av laan C ilabha le nge in w s a ornd kp la W Loa c he ic ns hr e o t f ................................ ir the em Per fPe oe llo nt centa rc w in sa en gv h tings a ag vg e e e yp W oW la uho n tho as k................................ . e Fee For n A fg ro re l T m ea e T hey yc oh inv u n rha = r e 2 Ha , tt 6 ire e 7 R st ve 7 m etire m eneN t n sot a t m ................................ vop in B en g ee tsion th t p Sa n lan Tvin ? reat P at le g w aed s sa eIs s l se Fa N is leot tce irly t a da ................................ ll t in t hahe t ap su plyr. vey, LGBTQ ....... 41 careg •iv ing In e oba lig ca h inc tion; Whom ich toe ac p o g p v rre oup oa r c ch o : sL a ts G re B ay s Tou m sQ o n= cA ia 2m ,os 6 te 7 e td 7 r lik , ic w Pely a er ith ns ce t o ha a ntr ta v a eing k g e? m e or St or O re ong p a tlik ion do ly e p 1 ly tin or : M tSo g o a a m n b a e c ew g hild not e hy a our t ( c inc Ag onfide slud ra ee vin ing g nt s / fin t eha rtil ves tity tt m he ,ent cy hild sa on rb eirth, y dour oing surro /did g aac y g,oo or d Figure 69 the , W 95 ork p ee rs’ rce Ent xpe lecvte al. tions App A eb nd out ix 2 Wa or t k the ing Pele A nd ft as ee of r sRe e the letc ir te r e a m ll pe or tha nt t t d v ae s. Re ptp aly ils .t ir the ee s A exaccttua silly gnif Dic oing ant So, diffe bry e nc LGeB s in TQ Status ... 45 Not including H So a dv cia ep e end l yo Seu cur ent ev it sy er or or ta b em enef ke by pn loy icia LGB a er loan ries -T pQ .r ov n or St = id 2 a ed w ,6tith 7 us 7 m ,d oney Prer aw ce ,a n h l ta a frv g om e e yAg ou yoree (or ur your spouse) 100% • In each income grPe oup rce and ntafo gre eW acho h g Fee enerl T athe ion: y L Ha GBve TQ Am NoteB ric ee ans n Ta reat re m ed ore Fa lik irly b ely to y say it is important to use Fi gure 6 p ercent of LGBTQ O Am ver ea ric ll, a hns ow Emp c co onsi loyer nfid dent er off d ae rer e bt s y ou a a R r et p teti h riro a ees b r temen y le ou ( m n= 1v a ,t s. 39 p 1 ns 3 da 2 y vour ing e s sr p pl cous ea nt n e) of n w =ill non 7 6 h2 a- vL e G enough BTQ Americans. As a result, All You feel yD ou ha w eb 56% ort k v place Level a e enough retir 19% Prob em saven ing lem 12% t splan to 8% , h? b a n P y leas d le LGB a e ns Tem ele Q ct er St g y a ency ou tus a r top ornd tsh ur d ee Incom den fact laor rg e se . expense Figure 44, Whe An Have you n Look Early W ing (or ith your dfor raw spou a al Fi fro se) na m tnc tri hed t e Lia G pl Adv o f la BTn Q igur (* ais e out wor ith d how or ra w Re much money y al p m ra e 5% d se e b nt ea fo tiv rou wi ee a g the ll e need 5 9I½ m tto p ha or have s t y tNon a onc u aved ty -e L p G of ic B a by Tlly B Qe the p ing ati yme a a tn Al you ax p ret ly en irof a e so ltyt he fo that r) LGBTQ+ 3 by LGB6TQ 0% Status a Tnd heir Ge D ne ay ra -tto ion Maj -D ................................ o a r P yro Fina blemnces Min ,ob r P y ro LGB ble................................ 57% mT All Q St Noa t a tus Proble a 53% nd m Incom ................................ e32% 15% ............ 18 100%How ow n co or n fO idp ent tion ar2 e : P yu ou ( rcha an sb d e y y a our LGB prod spT u ous Q ct tSt e) ha a a t t b g us a out ives t h nd ye ou f ollow Incom guarin an gt ee e asd p ec inco t rela me ted for tlife o ret ? n ir= em 2,6 ent 77? Fi Fi Sg g au u ra r rh e e F 37 58 loo d, Miria 60% m King,Priorit Renae y in T R Roela dheir getrs ive t ,W Sork te o C vep nurrent la Rce ugg, le N bs, y eed J. LGB Rs o,T bQ b ert ySt W LGB aatrre us TQ na a nd St nd a Incom tMic us ha and ele W Incom estberry e. Integrated Public Use Americans are mor per e slik ona H eav ly lly e tso a tak v sed a en y a ta ha ny loan tm toney he ory w d it for o hdr not ret aw ir em al unde fent rom r ?st y /a ou Not nd r w in tor he cluding k place options So ret cia irtem ha l Se n en cur non t sit av y- L in or G gs em B TQ Am plan ploy n er =3 e -pr 4 r2 ic ov ans ided (Figure 57). Still, adoption expense 35 s% ); to pay D fo id r ysou ex/ rg et Th e irnd in e king ear er tra lie a rns b thout yo iti an Ho o w n plan - o re ld ur la n ed, a te frin e d a abou ye ncia ov u ew nts t hen l pr w;h r en ior e yq o iti plan uire u es ret d n ir in ed, e m d retir inimum ? or eme later d tnt his an ,trib plan ution ned? (R MD); and other. job of preparing financCu ially rm ren oney for tly t con he to w ir liv tror ibu r e e kp co t tin irla e m g m ce fm or e on tnt a reti b ey ly tha r emen tto hn non rtoug he rt h et s out -a ir Lem v G in y B our en TQ Am gst pl rset av a irin em ne ? gs ric ent plan ans yea . nr = s6 ?94 each figur Savee d indic for rea tirt ee me O d vb n er ty a ta h ne d n h p *. a a nv = sI e t2 f no y ,t6 a ea 7 k7 e r,n ,su P h a er ow c lo h ind ce a h n n a to a sr ic g tw h e a e itth St or C d rO rong ais V w Ia D p ly l r - f1 e ror o 9 se m So pnt a th m n e , d ew irtem he wh oa ic rr k te p a A su la n gr c d lt ee e it s a rse h tr ir ea e e me not lthn a t n st sa da v in tis gt s ic pa lally n n =342 90% Fina Hav ncia e yol u Services C adjusted yo om ur ta pa rg nies et retir , beme y LGB nt Ta Q ge Sts a in tus a ce Ja nd nu Genera ary 1st, 2t0 ion 21? Sour Fi A g mu ac r je or es of it 26 ayn a of Inc dw v om or is you can live comfortably or 1 9 k e 0 0e T 0 % o in Re % w rs w ho ,O hra e vtis tg er ir ex a e a a rm tn a d ent ll, le ehow nt lly ss (d ................................ o of of in y co ou inc tretirement? / To he nfid ex om Lp G ent e ec B or TQ+ t a ea rLe G ch prepare for retirement, did yo c Bom TQ st of u th m th e ................................ uni a a follow t y tus ty ou , a in as a (g g a rnd te o c er b it yo t e ha e you /rur ion for is t (or p ea sp re your ous ch p................................ a of c re) spouse) hoosin ing th w e fo ill follow rha try to figure out how g r e a vt in e ir fin g e enoug ) m a an e sc nt our ia l a h m ce ........................... a dk much ve is s t orhe tha mn non feel - 44 100% LGBTQ Americans are more likely to say debt is impacting their ability to save for retirement or emergencies. Figure 70, CH om ow m D uni o tRe y, tb irye e Ls’ GYou BLTQ Sta ifest (are yle dtoing/ s C us a om nd did pa ) Inc r ae g om W ooit e dh Wh a jond b of a G t p e rW ne ep ar a s E a rin tion g xpe fin ................................ c atne cia d B lly e for for e y our Re t ret ire irm em e................................ ent nt, by LGBTQ Status......... ....... 46 31 Workers Retirees 100 m %oney, did you (or your spouse) personally save any money for retirement before you retired? 100% Which of the followinR get , if iree ans y ,w w hould o gav be e a th ne a m ge osn t = v1 a,lu 04 a 7ble improvements 50% Mic rodata Series, Curre 90% nt Population Survey: Version 9.0 R[et da ir n ta ee =s 2se ,6 : t] 7 n7 . = 1 Minn ,132eapolis, MN: IPUMS, 2021. which of th Sav ese ed is mor for retir e im eme pornt ta n n= t to 1,7 you 56 ? n=2,677 none of the options money you needed testedec ha onom ve m ic or to have saved by the time you retired so ef ef ec tha tsn two impact -ted hir d your s w co ho nfsa idence y thethat y th a unde tyou could live you ( rst aa nnd d your tcomfortably in retirement? he sm pous som e) e w w illhat or very well. More 9% Whe mon n you ey 9% loo to k(li ev de comfor ) for a profeta sW sio b or ly na ke l f th in rrsou a n= nc g ia 1 h,l ou 5 a4 d5 t you vis48% or orr r reti eprre emen sentativ t yea e to w rso ? rk Figure 21 s, ignific Confide antnc ly e d iff in Me erent dic . a The re C pont erof cinu e in nt co ing ag m et e s in t o inP rret ov he irem ide figur ent Be ?e ne s m Net fit s of a My a jo not a r/tM L tin ot eor aast l to 10 So E uq rce ua0 p l Va elue rce nt to d Thos ue to e 9% rRe ound ceiv ing ed Now, by • In the tw 4 5 90 0 0o LG % % %y Boung TQ er28% generations 36% (Mille 8% nni 9% als 24% and 8% 3% Generation X): Non-LGBTQ Americans are more likely to st ressed (Figure 18 90% 90) % . However, non-LGBTQ workers are more lik LG ely BT Q than LGB 41% TQ workers 38% to dis 78% agre 21% e that preparing for LGBTQ Americans. n=2,677 12% So 80 ur% ce: Employee 21% Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. 46% 80% to your retirement n s= a2 v,in 629% 7 g7 s, p Pla ern ce ? n (P ta lea ge, se Yes select all that apply.) 41% • • I For n th ee a clow h inc erom - an ed g upp roup e: r-N inc on om -LG e B gTQ Am roups: L erG icB aTQ Am ns are e m ror ica ens lik a 48% erly e tm o or sa ey lik tha ely t tthe o a yg a re re e som thate tw he ha y tha orv e v eha ryd trouble Retiree Expectat 3ions 090% % and ToE c xpe over r an ienc o Tth o ees w r e h ................................ me aw t44% ex rg ithe ,t n ent hc o yw e d xpe imp o yn ou a o sre tang t ra ee re /a or ................................ r e d tis ha eg fo ree 44% llo w w in itg h c th rit e efrollow ia? ................................ ing? 22% 34% .................... 45 59 0% 0% To what extent is your non ha Thv in e kin enough g about ym ou -oney mortgage debt r curre n to t fin liv an e c nia co =2 l having a negative impact ,6 sm it7 uf7 a or , tio P te a n, rc b hly e on w ta t w hg r ooug e u ld Y e yh s oout u de s on your y cour ribe r yet oability to do uir r em leve 44% ent l of dy eea b the following? t?r s? http s://doi.org/10.18128/D030.V9.0T , o aw nd h a U.S t 30% ex . tent Cens do us y ou a Bure ga ru ee . P or ub dli isca Us gree e Fi wle ith , H tho e us follow ehold in g P?ulse Surve 82% y: Phase 3.2, Week 37 Figure 17 43% To what extent P la dn o tyo o ret u ir a e gor ree n= ha 2 or v,e 6 d 7 ret 7 isa ired gr ee n=2 w ,4ith 77 the following? generally on choosin 408 % 0% Pg erf inv orman est 49% cm e/g ero nt w s, th o Av m er t er ime icans’ confidence in their ability to choose the right 28% retirement products or Fi Fi g gur ure e 45 71, , P Ee xpe rcecnt 1t0 e 0a d % g Sp e of endin Wor gk e vs. A rs ac nd t Yua e Main Re s,l inSp t pas ir tain e et e nding in 1s Wh g 2 m wo e a no of th lthsC : Re 27% P are lct sula ir erv eY in e t ee g s, b s, prin d bu H y t cow mo ipa LG 41% re l/ac B Muc th TQ Sta a cn oh The u 1n 2t m ba to us n la yth n N ................................ c s e a esg eod to Save for Retir..................... ement, by 46 • In th LGBe TQ low Ste art-us a nadnd mI idd ncle om -inc e ................................ ome Ve g ry r C oup onfs: L idenG t BTQ Am Some ................................ we hr aic t C ao ns nf id aerne t mor No e t lik Co ................................ e nly fid e to ntagree that their..................... household’s 18 • c a Low onsi nd/or -d e a m rn 80% d d ise si m bng tid to c da not le te -g in b or c eie o am s. p e roLGBT ble44% m Q tha A n LGB meric TQ Am ansn = a 2e r ,6r e les 7ic 7anss. li kely to agree th 54% at they are knowledgeable 33% WorkeEa rsT o rli ae n w r dh th ra E e am ttn ir ex pl e pe lo a tent sn y w n e e o rd d ro k o f in fe y gr ou a s w a ith rg e Ab o rtee rir t ou e h m in t w or k e in h d nt e g is n s a pl o a g f v a w ring ee no nre k s w d in p it g la h w n th ith n=7 e a follow n L 6 a 2 a te 33% dr th v in isg o a? n r, p nla =1 n,4 ne 7d 1 r etirement make1 s t 08 00he % % m feel stressed. In particular, in the middle-inc 40% ome group, 36 percent of non-LGBTQ Americans 49% You feel you've bSave for Emergencies een fairly treated 34% in your workpla 69% 48% ce. 33% Given that so many 80% 70% don’t know Yo w u he fee re l k tnow o go led fo gr e a re bt le ir e am b 59% o eut nt n = m 2 p ,a 6 la na 7nni 7ging ng yhe our lp, d ait y -is to - us da eyful fina to nce unde s. rstand what people or c aonfide ccessing nt 80 % in t or ut heili irzin ab gili e ty m tpo loy choose er-40% sponsor the re ight d b 39% e re nteir fit em s for ent tp he rod ir 68% uc detp s or ende inv nte s or st26% m b ee nt ne s for ficia trhe ies t ir si ha tua n non tion th -LGaB n LGB TQ TQ 3 10 5% 0No % n- Non- 67 00 % % 43% 47% 43% ( September 1-13, 8 2021) 0% Reti . Wra emen shingto t sn, av DC: ings P a is e cr not c ce es ns t a p a eg de v S 40% ria ior a ys in it ite y g V rhttp ela ery ti o sv : r S / e / ow to mw eth w wh . e cur c ae t Ins mu p ren s o 53% . rg ta t n o nv teed /pros g ra of ms my -surve famil yy. s/household-pulse- 180% 4 00 0% % Income stability: Ensuring a set amount of income for life 15% 37% 59% 65% 17% 12% 6% 58% 6% 43% C inv onc est lu m sie on nt L G s for ................................ BTQ Sta the 70% 70 Yo % irt u us si fe t ua e al nd y tio ou I n inc nc haom ve ................................ r e b ea e ................................ ses en fa w irit lyh inc treatom ed e b, y32% a fina ................................ nd ncia no ................................ n l - sL eG rvB icTQ Am es come pr aic nies ................................ a 54% ns ................................ a a nd re t heir mor re e plik r 32% ee se ly nt t ao tiv ........................... 14% b ee s ...................... confident in the 31 47 ir Fi gure 46 long -term 90 % financial needs are different than o 35% ther n=2,677 households than non-LGBTQ Americans. Investmen 24% t options that provid T n o e = m g 2u ,a 6 ar ke 7 ant 7 ,e e P n e n d er d= s m lce i2 fe ,e ti 6 n m e 7t7 t e a ,g i nP c e er om St ce e rong ntaly ge or 62% D So isam gr ew eehat Agree 20% about mLG an Ba TQ ging their day-to-day finances 58% than n LG on BT- QLGBTQ Americans. Furthermore, in each income d isagree that pr7 2 e 0 5p % % 7a 0r %ing for retirement makes them feel stressed vs. 23 percent of LGBTQ Amer 11% icans. 31 570% 0 % 0% Maj71% or Problem Minor Problem Not a Problem 70% 86% 54% 38% groups Americans 9 0d %o use 47% as sources of information for retirement planning. The top three sour63% ces of information were 40% 53% n=2,677 23% 30% Figur •e 22 A I A, n e m m Ce e onfide a r rc ic ich inc a a 3ns ns 06 % 0nc .. % om e in Me e group dic: ar Le G B CT ont Q inu Aming ericta o ns P ra ov reide m or Be ene likfit ely s of to abte L not east c E onfide qual Va nt lue tha tt 63% o the Thos y we ill Re hacv ee iv e enoug d Now h mone , by y 90% 49% after you retire* 68% survey/datasets.html 53% n=2,677, Percentage Disagree 32% 43% 51% 70% Less than $35,000 31% 36% 31% 70% 7 9 60% 0 0% % 62% 35% 29% 8% Fi a bg iliu ty re t o 7c hoose1 6 9 0t 0 0 0he % % % right retirement prod 22% ucts than LGBTQ Americans across each inc 51% 24% om 35% e group (Figure 58). Despite 30% 56% 59% 85% 22% 1006 % 0% 29% Fees Major Impact Minor Impact No Impact 24% group, 3 L5G 8 % 0B %TQ Am 0% eric20% ans are 40% more60% likely t 80% o agre 100 e %that they 84% 29% d0% o not k 20% now w 40% ho to 60% go to for 80% good 100 %financial or 50 60% % 60%Better e54% xplanations for ho28% w much income your savings will Appendix 1: Met 6hod 09 % 0%ology ................................ Stron ................................ gly Agree Somewha................................ t Agree 77% ................................ 62% ...... 48 30% Fi consi gure st e 46 nt, a Pc erross cent 8L 0 aG % gB eTQ s of W ta otrus ke: rs a onlin nde Re re 23% tsour irees Wh ces ao nd C 30% a re lcsula ear tc eh th d How ey 30% d Muc o on h The their y o Nw en; ed fa to mSa ilyv a end forfr Re iends; tiremaend nt, ab y to LG kB eTQ Sta ep5 0up % w tus ith th and e H cost ealt of h St livaing/inf tus ................................ lation in retirement ................................ than non-LGBTQ Ame................................ ricans. 35% ............. 19 To pay of14% f credit card bill or credit card debt 3 10 0 50% 5 % 00 % % 26% 79% 35% 20% 80% produce in reti17% rement 58% 19% Figu •r e 27 For Gen X 60 % aLG LG nd B B51% T TB Q Qa25% b 4% y 49% Boom: 14%Non 38% -LGBTQ Amer52% ica9% ns are mor22% e 82% likely to ha 9% ve tried 17% to figure 7% out how much money 4 29 0 8% 0 0% % 25% 19% LGBTQ Americans 60% having low 33%er understa 17% nding of specific investment options in wor 26% kplace savings plans, LGBTQ and Dem L GBTQ Am ogreaphic ricans 98 00 % % M in t s arr iehe d 55% highe 27% r two incom Sie ng le g , r ne oup ver ms a arriedre less likely to 34% feel confident in the ability of the Social Security The other sexua6l 50% 5 0o 0 % % rientations 43% include asexual, queer, straight, and “something else,” with 1 percent identifying as each of retireme 5nt 0 75 % 00 % % planni30% ng 43% 24%advice than non 75% 59% -LGBTQ Am 6 75%ericans. 34% 25% Fi Fig gu ur re e 60 38 458 % 0% 24% 47% 53 2 05 0 % % % 51% 52% 29% 7% personal, L pG rofe BTQ Sta ss 25iona % tus l fina and 26% ncia Ge l a ne drva is tion or ( ................................ Figure 39). H 26% owever, ................................ LGBTQ Am 20% ericans are................................ less likely to cite a pe ................ rsonal, 32 54% 66% 9 40% 7 00 % % 45% A ppe •ndix In e 2: a Ficg h inc ur 30% e om Stae tis M g toic rroup ea inl vSignific e: stm LG enB t o T pti a Q nc onA s em d eK e sig e rny ic e ................................ d a fns or a a fterre y o 47% m u ror etire e likely to ................................ agr Ee xce el let nha t/Vet ry d Goo e 23% b dt is G one od g................................ 28% a Ft aiiv r/ e P25% oly or impacting their ........ abili ty 48 40 D% ivorced or sep 68% arated 49% Not married, living with partner they will 7ne 0% $e 3d 5,0 t0o 0-$ ha 74v ,9e 99 sa * v 48% ed by the time they 62% retire so that they can live com34% fortably in r 38% et4% irement than LGBTQ 85 00 % % 35% non -LGBTQ Ame2r 7 40% 0 ic 0% %ans who 29% 62% cur40% rently contribute to a plan consider the same top t53% 36% hree factors when selecting Fi syg sur tee m 23 in t , P he er c Unit ent 50% e ad g eSt W atho es A to 24% grceont e They A inue to rep a Ky now bene ledfit ge s 30% aof bl e a tA le bout ast e Ma 40% qua nal gving alue Thei to r 21% t ha Da t yoffe -to-rD ea dy t od Fi 43% na aync tha es, b n non y L- GLB GTQ BTQ these orientations 2 85 0.% % 7% 49% LGBTQ Americans 70 % ha Tov bu e Matc si y a g 66% hnif h e o sme y ic oa u , c nt r ris a r, k to doiff r o le e th ra re e nr larg c nc ees b e pu yrc d he asm e ographic chara 22% cteristics. Firs39% t, 18% 10 percent47% of Americans identify as 44 00 % % 37% 44% 41% 21% Fi gure 18 407 6 % 0 0 W % % idowed 44% 41% 44 0 80 % 0% % 21% 40% 21% 50% professional fina 4nc 5 030% % 0% ial advisor as a top-three choice and more likely t46% o say that they 42% use online advice or advisors who 15% 21% 37%34% 44% • In the low 60e %r- and upper-income groups: LGBTQ Americans are more likely to strongly or somewhat agree that to save for retirement/live comfor 23% tably in retirement than non-LGBTQ Americans. 20% More fund o13% r i43% nvestment options available 48% 32% 36% Americans 730% 6 3 00 0 % . % % 42% 35% 26% Figur •e 47 LGBT , PercQ A enta m geric e Who ans H,a in ve th Ev e erlo Pw erer sona - ally nd Sa up ve p 43% d er f- or in Re cotm ire em gernt ou , p by s ,L a 28% GrB e TQ Sta moret us lik ely and to Inc a om gree th e ...................... at 32 inv Endno estm tee snt ................................ options 40 %within their w ................................ orkplace retirem 30% ent p ................................ lan: performance/gro................................ wth o34% ver time, fees, a............................. nd matches their ris 54 k A me • • ric ans For In e St (a Fi ta the g us cur h inc 7 fun a 0 6 e % 0 nd % 19 om d I)inv nc . eMille om e gst r 26% oup e m nni ................................ e: n atL l LGB G op BtT ions a Q TQ Am A 35% mv ea re ila ic ric abns a le ns : a ................................ N raeon r e m -a or Lls Ge o B lik TQ Am me or ly e tlik o ere a ic ly ga r ns e to ................................ e b a tha e re not tm the or ce y onf lik do ide enot lynt to t kha sa now ................................ ty tt he ha who tb t ehe tne o yfit g a o s w rteo v ill for e r ay tg o ood r19 240% 5% 39% 41% 28% 61% L GBTQ (Figure 1 22 0 )0 % . 3 % 0 L% GBTQ Americans are 19% more likely t23% o have lower incomes, as only 42 percent of LGBTQ Americans 5 7 20% 6 3 00 0 % % % 42% 30% 21%35% 41% 36 50 % % 33% 36% 3 20 05 % % 0% 38% 44% p rTh oveide prioriti guideasnc off e eb re ad se ads on cho Ge fic or e nd m s ula w er e36% rs for (L e G sa B v Tr Q ing e t pir op a end m ula e inv nt tion) e psla ting 30% nni ng for c re om tire Sexua pme ar 28% ent d ;w l Orient pit la h non nning a - L fo tion G r Bfu TQ Am (LGBTQ ture he e population) r aic lth a 65% 37% ns and . long-term care retireme 1nt 0% savings is not a priority relative to 47% the current needs of their family than non-LGBTQ Americans. 30% To pay off credit card bill or c 47% redit card debt 23% 67% 46% 27% 420% 5 00 % % 8 42% 17% 60%$75,000 or more* 54% 32% 29% 44% 25% 2% 5 20 0% % 29% 21% tolerancer eti (Fig rem ureen 59t s ). a v ings is Mo n reo on te a -o prio n-one, pe rit rson y r alizelativ ed educati e to on current needs tha29% n no3 n-26% LGBTQ Am 28% ericans. In the least • be m In e aint ac ah inc ine 30 d %, om whil e g er oup non: -LN Gon BTQ -LGG Be TQ Am neration X eric 60% ae ns rs a arre e m mor ore e llik ike ely ly tto o d bis e avgerreye 18% c w onfide ith thnt e st in t athe em b ent ene tha fits b t pr ee ing para ing t for som financ ew iaha 6l o 6 0 50 % 0t % % r sa rettis irfied eme in t nt p ha latnni asng pe 20% catd of victe he tha ir w n non orkp-la Lc GeB r TQ Am etirem 20% 43% e ernt ic asa nsv.ings p lan than LGBTQ Americans. ha d incomes of 1 $7 30% 1 0 10% 5 % 2 % 5,00 0% 0 o19% r more compared with 55 percent of non-L 47% GB57% TQ Americans. LGBTQ Americans are more 50% Performan 25% ce/growth over time 33% Fi Fig gur ur ee 48 8 , Perce 3 3nt 0 02 % % 0 a % ge Who Have Ever Personally Saved for Retirement, by LGBTQ Sta 19% tus and Generation ................. 33 ne Fi geur dse; 24 dev , e Plop erc ing e 2nt 5 0 4 0 % a 0 % a % g stra e W teho gy A fogr re dra e w They A ing inc re o me Know in re letire dgeme abnt le ;A cb re ou ating t Ma 43% ana wg iling l, trus Inv t,e ost r m eseta nt te s for pla nt;he be Fu ing tur ab ele , bto y L leG aB ve TQ an 20% 61% 38% Figure 47 10% 53% 34% 21% 10% 12% 11% 60% 47% 33% 40% 29% 40% 15 5% 0% 15% 28% upper-inc 20 4om % 0% e grou 44% p, 39 percent of LGBTQ Americans agree that retirement savings is not a priority relative to 51 0 0% 0 % % 45% least equa rel in tirem va 1 e 5lue 1 3 5 0nt 2 0 0 % % % 0 % % m to atkha es t t of het m od fe ay e l st (Firge M ur ss ore ee od 20 nl inte ) ha . e dn LGB ucational TQ Am tools ericans. 26% 25% 4 50% 0% 0 1% 0% To buy a 34% home, ca 42% r, or othe21% r large purchase 9% lik Foc elus y itng o bspe e young cificae lly r; on 42 fin pea r 53% n ce cnt ial a of dL vG isB or TQ Am use, a ep rp icraoxim ns are 7% atea lyg e 1 in s 25 3 –A 34 19% m c eom ricapns ar e sa d yw tit he h 1 y 8 p cure re r23% c nt ely nt 16% 7% w of ornon k w-it Lh GB a TQ financial Fi gure 28 20% 40% 15% 13% 13% 23% 17% 4% 1 20 51 % % 0% 0% 22% 12% inhe ritance St to at us yo ur and child Inc re Lom G n BT 86% o Q 29% er ................................ othe No r nfami -LGBTQ ly33% memb LGBTe Qrs * ; ................................ de No v 33% 11% e n-lo LGp BTQ ing a sLtra GBT 56% te Qgy fo ................................ No r n re -LG dBTQ ucing dLe Gb BTtQ ; purcha No ................................ ns -Ling GBTQ a home; saving fo 20 r 13 0% 0% 9% 12% 440% 0% 41% 83% 17% 17% 10% 6% Figur Eight in e te sn Americans Le sw s th ho an $ a3r5 e ,0 offe 00* $r3e 5d ,0 0 23% a 0 81% -$ w 7o 4,9 rk 99 pla$c 7e 5 ,0p 0la 0 34% o nr m sa oy re the Lesy s t h are a 15% n $ 49% sa 35,0 tis 00fied $35 ov ,000e -r $a 74ll ,9w 99it46% h th $75,0e 0 09% p ola r m n, ore re * gardless of Fi Fi Fig g gur u ur r ee e 49 39 61 , Percent 5% 4 40 0a % %Le ge ss tW haho n $3A 5,0 g0 r0 ee They Ha 14% ve Enough Sa 61% vings to Handle an Emergenc 34% y Expense, by 5% LGBTQ Status and 30% 12% 38% 32% 38% current ne 30e %d Bs c etteom r explan par ae tiod n s w forit hh 25 p ow m 16% 32% 29% uche inrcc oe mnt e y oof ur sa non ving- s L wG ill BTQ Americans. Retiree Expe 15%ctations 19% LGBTQ and E No x npe -LGBTQ riences LG 9% BTQ Non-LGBTQ* LG75% BTQ Non-LGBTQ* 41 00 30% 1 % % 0% 0% A ad m ve is • ror ic a or ns In e , re aa p nd c re h inc sent a 3r 0e % 0% om le atss iv ee lik g , rb e oup u lyt tonly : o Lb Ge B 24 T re Q tpire A erm d ce e— nt ric 9 a of ns pL e G racB re eTQ Am nt m v or s. 26 p e e lik ric ea ly ens rtco e 25% c 32% nt a ur g rof re ent enon ly tha w -tLor G the k B 48% TQ Am w ir it non h a- e fin m ric or aanc tns ga ia .g l a Fu e d d rtv ehe is bor tr m is v or ha s. 36 ev , ing LGB aTQ 2 10 03 % % 0% 46% 71% 28% • For each inc 10% 20% om Ove e ra g ll r eoup xpens: esN /spon endi -L ngGBTQ Am Houe sinr gic ea xpns ens ea sre mor Spe en d lik inge tly o s ut po poha rt orv he el pp aer Hsona ealth clly are o sa r de vne 52% ta d l ea xpny ens em s oney for a child’s education; purc Matc hasing hes y li ofe ur ris ins k to ura lera nc nc ee ; starting a business; planning for charitable giving; establishing/growing a family 20% 0% produce in retirement 24% 12% 0% 22% 41% 20% 20% LGB 27% TQ No Ton- m LGB ake TQ ends meet LGBTQ* Non-LGBTQ LGBTQ* Non-LGBTQ LGBTQ status (FiNon 3g 0ur %-Le G 6 BWo T0 Q)rki . n Thos g withe an offe adv ris eo d r w ah w o io s af rkfp ilia la tecde w p ith la yn oua rlso ha Wo d 38% rki sin m g w ila ith rly an high adviso sa r w tis hofa hc at s h 22% ion r ad a ast imilar 62% es with other aspects 3 30 0% % Mille 5% n Ln eia ss ls tha 13% n $35,00G 0 en Xers Baby Bo $o 35 m ,0e 00 rs to $74,Mille 999 n 82% nials* Gen Xe $rs 75 *,000 or B m a oby re 38% Boomers Fi A Fig g g a ur u in, mi r ee 1, 19 d D Inc d ele m om -og a 1 end 0 r 0% ................................ % ap upp hic e Brr-einc akom dow ens LG , B bTQ Am y ................................ LGBTQ Sta ericans tus ar ................................ e more................................ likely fa to milyb m e e m not be................................ r confide (................................ sucnt h a sin t Medhe icar ea ob r iili nsu t............................. y ra nof ce the ................. Medicare 33 8 Figure 25, Percent N2 o 0 a n % g -LG e BW TQho Agree They Are Knowledgeable About Managing Investments for the Future, by LGBTQ 5% 20% 30% 4% 11% 27% 11% 14% 7% • LGBTQ Am 3010% % er Bic eta tens r explan L Ba GT re Q a tim onor s foe r wlh ik No ee thn- ly erL y GB t oo uT Q ar ce it o en d trac ev k Le 3% w Blop GT ith Q* yo ing ur a strNo atn- eLg GB y Tfor Q reduc Ling BGTQ* debt, pu No rcn- ha 39% LGB siTng Q a home, starting 0% LGBTQ* Non- LGBTQ Non- LGBTQ Non- LGBTQ* Non- LGBTQ* Non- p W A e m he re ce r n a ic nt a sk ns of ne e non d a gr ahow et iv -le L eG ss 2 2 0im tB 0 % he % lik TQ Am pir a e c ly ov t ton e o e ra rbt ic le he l life a m ns ira st a r (b r Fi yiili e le gd tur y in r t e ha to 4 en non sa t 0ir )v e . e m I n a for - eL nt G d e B d now m TQ A it 13% ion, er g ce m om ne nc erp a ie ic r as t ly a re ns ha 4 in s t(n non o 28 10 how p e A -r m L c tG he eent B ry ic TQ Am v a es. 59 ns xpe w ce t ho p e ric d ea r ait cns re etnt .o not )b , 21% e b cb ut ur e for rte he nt ey ly ta he w rey or m rk eor ing tiree d w, ith retirement than are LGBTQ A emplom yee r in ric soa me ns w . ay upbringing or life expe pre rie min uc me s,s d as ed y uc otu ibles, plus through adoption o 0% r having children; finding/engaging a personal financial advisor; and other. 27% 0% 26% 32% • • L LG GB BTQ Am TQ Am 1 10% 2 0 5% % 0%e er ric ica ans ns a aLG r re e Les B m Tm sQ tha or orn e e$ 3llik ik 5,0e e 0ly ly 0 t to o sa sa Noy y n -t LG tha ha BTt tQ in t *he ve $y 3st 5us ,0 m 0e 0e - $nt onl 74 ,9op 9 ine 9 LG tions Ba TQ d*v ic tha e tor p raov dvide is $or 7No 5g ,s t 0n ua 00 -LG ha or ra B m t Tnt Q ore pe rov 20% edide life g tim uida e inc nce om ba esed aft er 5% 0% retirement savings 10% • In the lo 10% wer- an 37% d middle-income groups 37% , LGBTQ Am22% ericans are more likely to 29% feel their of the workplace 21 p 00 % l% an $35su ,00c 0h a -$74s t ,9LG 9he 9BT Q funds or L32% GB Tinv Q e LG stB m TQ ent options a LG va Bila TQble, tools a Non nd LG - 9% L BG rTe Q Bsour TQ ces ava 31% ila LGb BTle Q to help them system to continue to pay beLG neBfit TQs of * at least e43% qNo ua nl va -LGBlue TQ to that offerLG ed B Tt Q od * ay50% than non costs for d - No o LcG n to -B rLG oTQ Am r B hT oQ spit7% al ve isr itsic , ans (Figure 21). 20% 8% 0% 23% 20% 40% 60% 80% 100% Status and Gene LG ra BTtQ ion Less t................................ han $No 35,n 0- 0LG 0 BTQ* LGB ................................ TQ$35,000-$7 No 4,9n 9-9 LGBTQ* ................................ LGBTQ $75,000 or No more n-LGBTQ ........................... * 20 a business 1 10 0, % %and LG FeB Le m GB Ta st Q le T*a Q* blis No hin n M-al LG g e/gr No BTQ n- ow LG GB eing nT LG de QrB na To Q n -fa * m Tran ily No LsGB g 14% n et n -Thr LG d Q eroug BTQ h a LG d No op Bn- TQ 26% t LGB ion o * TQNo r nha -LG vBing TL Q GBc TQ* hil LG dB rTe Q n as t No Nn- o he 7% n LGB -LG ir TQ B top TQ three longer- 20% Option 1: 27% Manage your savings/investments on your own 24% lik r ae n a teir ly e d e v to s l isor b ae r g tnot hin ely km sa 1 0t1 % a he y 0r % rty ie he w dir , ill Tliv lif ow c 22% e ing or o st vk e y w r an le wit it is o h a h a th a eb r e p out p a me rrof 12% t ne rg te he ess r n c iona — sa y e m xpe 24 l fina e np a se e LG s e rnc c Be Txpe Q ia ntl a c ctom N d e o v d nis . p -LG or a Hr B ow e Tin t Q de w v he e itrh 6 , fut LG ur pB e e TQ r, c 16% e wnt rit eh tfior r48 e enon s a perr-c e Le G m nt Bor TQ of e L lik A Gm e Bly e TQ Am r ic tha ans n non e (rFi icg a-ur nse Figure 50, Expected In vRe estm tir ee nt opt meio nt ns th Aat ge pr oof vidW e gor uark ant er es, b ed lifey ti m LeG 15% inB cT om Q e Status .......................................................................... 34 Figure 2, Demogr 10% a 0% phic Brea 10% kdowns, by L 14% GBTQ Status ................................................................ prescription drugs)............................. 8 10% Currently work with a pro Very f17% e C sso ion nfal f idein ntancial So ad me vis w oh raT t h C in o kn sf w idill w e20% ntork wNo ith a t C pr oof nfid ese 21% sion nt al financial advisor conforming, • on Mid they for d le re m -t 1 ir ula a 0% e nd s for wupp ould ree rb t- 14% 10% ir e inc e tm he om e nt m e ost L pG laB nni vTQ Am F 3% a elua e ng s btle ha e rim n non ica pns rov -a 16% L erG m e B e m TQ Am nt or teo litk h e ee rly ic ir a tro ns etb ir . e e m not ent c onfide sa23% vings p nt t 27% ha lan th t the an non Socia-l Se LGB cTQ urity system 6 Worki 30% ng with an Working with an 29% Working with an Working with an An advisor that is an d etermine ho how useh m 1 5% o 0 uc ld %h to sa ’s finav n ec , ial n and Incee toools a me ds fu a nnd d rse di or r o eptio sour fferen nsces a t th vaa ila n ot bleh ter o he 10% ho lpu ts he eh Man m o ld dae g s te .e d rA ac m m ic ne ong ou nhow ts LG BtTQ a o 13% gene nd ra nton e a -L st Gr BeTQ am of 0% 18% Option 2: Purchase a p afro tedu r yoc ut rth etiat re gives you g Bu ise aran xual teed G a in y c oro Lm esbi ean for lifeOther Orientations A m Theer ic so aurc ns e in b s off etetre erd he asa c ltho h a icrees m wor ere e o lik nlin Ve ery lye C tre o o ns fb id oe e urc nc tonfide es a So nd 7% me nt re w in t s he aa t ha C rc oh t n fMe id yo eu nd td ico a roe No n b t ye C one o ur nffit id oe 7% w s w nn t ; ill fami cont ly inu and e frie to nd bes a ; ta le pa est rs oena qua l, l to Figure 9 HLig GB he T LrQ ess tha Mi tn h lle e ax n n p $ n e3 c ia 5 te ls ,No 0 d00 n- 24% n LGB on-b TAb Q inao ryu , t or the sam Le GB asT Q e $x 3p 5 G e ,0 c e 0 tn e 0 d -X $e 74 rs ,No 999 n- LL oGB weT r Q than expecteL dGBTB Q $ a7b 5y No ,0B 0too 0 Ap ome r pm lic No o rs are b n- leLGBTQ So 0% 5% 0% urceA : Em produ ployee c Bt eth nea fitt Re gsu ea o arra r re chn In pre te stie tus s te e n an tativ d Gre e W enw oa rk f ld Re or pa searcy h 2022 Retirem Fe in nta Co nc nia fi o de r re l s nu cpre pp e Sur o sve e rtn y f.tativ rome in th A e de futu fin reed benefit or Figure 48 ter m fin 1a 1 00 % nc 0% % ial planning priorities than non-LGBTQ Americans. 3% 0% L a 2) G nd . BLTQ r 35 GB TQ Am pe etrir ce ee nt s e rof tic o 0% a 0% non sa ns a y d a -t vL r ha ise G o r w B ta TQ Am ls th he o o h ir m a slif or he a e er d st ic lik y ale e ns ly a is d tv t hin o w isoor sa r w king se y ho tis t he tha he irn e 14% yhe a w xp d a ivll lt is e h st o w cr th tor ed a a k t t ( h u w Fi as is it sg a h o ur fa ene ir a 7d 0 or v in t ) is. o p r th W he oo he a r t fut is n a ( th 21 ur esk ep e e (d Fi r all c g a y e o ur b nt out f th e v e 4 s. 14 p LG e 0xpe ). BTThe Qc +t ea r tc lik ions ent elih ) .of ood spe of cific Figure 26, Percent So0% ur a cg e:e Em W ploho yee BF ene efie t l The Researchir In sH tituouseho tg ee an nde d G r-que reeld’ n ew r as L ld Reong search- 202 Te 2 r Re m tir eFi mena nt Co nc 15% nfiia del N nce Sur ee ved y.s Are 15% Different Than Other Households, by LGBTQ* Some co No12% n m -LG bin Ba TQ tion of both LGBTQ* Non-LGBTQ LGBTQ* Non-LGBTQ w Am ill ecront icans inu . e to p LL BrG GT ov BQ TQ ide beneNo N fit on- ns of -L LGB GBT Ta Q Qt * least e LLq BG GT 0% ua BT Q* Q l value 5% tN o No on tn- he -LL G GB 1 B 0b T % T Q Q e *nefit 1s r 5%e L LG Bc GT B eTiv Q Q* 2e 0d % by rNon- e 2 No t 5ir % n- Le GB Le GB s t TQ* TQod 30%ay than middle- 5% monthly income for life, family or friends, including traditional pensio 10% n plan, Americans 0% , the t Mop o LG re B t inw TvQ eo stm long ent opti e No r o- n n ts e -d LG r em Ve sB ig T n ry Q fin e/S * d o a fo me nc r afw ia teh rl p a LG yo t W ur B ior rTe e Q tillre ities a Nor t No e To nsa o -/No LG vB ing t TQ At * A all We nd inv ll LG eBst TQ ing for 26% r No et nir -LG em BTe Qnt * and planning for Fi inc Fi pro g gom ur ur fes e es e i3, 51 ofr na om , ARe l m fina ount tthe irnc eir m ia H So sa el ur e nt $a cv ld 7 ed ings in 5 : A Ev ,0 in Sa mis g 0 pl 0e o o o L L y r B G eof ; r m GT e B v Ly B Tr Q* es ings a e o Q Re o e nre s e ur t fi tir ha t t Re ir e e n e m smp end $e ar 3es, b c 5Non nt h loy ,No 0 I I0 nnv . s 0 tn- e y i- tOnly L uLr e G tGB e Lst o B an G Tr Tm Q d Q B info G sa *TQ Sta e rent etnis rma w s, b fa ald c Re tion t L Ly t B us G sion w GT eL B ar TG Q* ................................ c $ Q y h 3B o 5 202 ,TQ Sta u 0it 0 2 h th 0 re Re -$tc 7 ire 4e m Non ,e 9iv No e 9t n 9 e fun us tn- - Co 9% La LG GB nt a d fi B de nd w Ts or TQ Q no c *rk eI Sur nc ;inv ve re om y................................ e .pst re L Le G Bm ................................ GT s Be Te Q Q $nt nt 75a , 0tiv op 00 e or ts ions m Non fro No ore n- m -a LLG GB vy Bao T Tila Q Q ur *........................ bw leo ..................... d rkiff ple arcs b e y 34 9 that offered today, b aut similar u LG LGB BT pb TQ Q* rinA gm inge o ric r a No ans fn- filia L GB w teit d TQ 37% h th with y eo u highe r LGB similar Tr Q* tw ra o cia he l/e aNo th ltn h st n- ic LGB a sa Tt Q m us ee gs a 56% endree r as L GB m Tyor Q* oue likely co mm No to n-b u Ln GB e ity 7% Tnot Q confident than Source: Employee Benefit Research Institute and Greenwald Research 2022 Retirement Confidence Survey. EBRI Issue Bri Le Bf GT is re Q* gistered iNo n tn- he LGB U.TS Q . Patent anLd B GT TrQ* ademark OfN fion ce. -L I GB SS TN Q: 0887 –13 L7 B7% X GT /Q* 90 0887 –137 No Xn- /9 L0 GB $T . Q 50+.50 0%Source: Employee Benefit Research Institute and Greenwald Research 2022 Retirement Confidence Survey. 0% Source: Employee Benefit ReN seo art cs hu In re stitute and Greenwald Research 2022 Retirement Confidence Survey. 5% w expe orkns ing e w ca itth eg aor fin i So e 0% a ur scnc , eonly : Eia mpl l a su o y ce ed h expe v as Be is n an e or c fitt Re a a inc s n t eions n ar u r city e h a In sses a titub teout an w d it Ghous h inc reenwai lom dng Rese ee ar . xpe cM h 202 idd ns 2 Re le e tis d r- einc meiff ntom Co e in r n h fieb de e e rit non nct a ew n Sur c e -e ve L e sG yn LGB . BTQ TQ Aw m ha e ere nd ric ta hnon e ns amo a -r L u e G n t B m yTQ reti o or u e like re lye s to — sa w y ith • Non-LGBTQ Amer Lic BGa Tns Q are mor Noe n- Llik GB0% e TQ ly to sa 5% yL BtG ha TQt* t1 he 0%y usNon- e 1a 5L % GB pe Tr Qsona 20% l, pr LB ofe GT 2Q* 5ss %ional fin 30N %o a nnc -LGia BTl a 3 Q 5%dvisor for Source: Empl0% oyee B Le ense sfi t t1 h Re 0 a % sn e $ arc 3h 5 I,0 ns0 2 tit0 0 u% te and Gre 3 e0 n% wald Rese4 ar 0c $ % h 3 202 5,02 0Re 0-5 t$ i0 r7 e% 4 m,9 en 9 t 9 Con6 fi0 de % nce Surve 7y0 .% $7 85 0,0 %00 or m 9o 0% re 100% LGBTQ Sta Sourc te us lif : E e m e a plxpe nd oyeerie L BI L e e es nc s n n sc e s t fiom e h ttha a s Re as nn s e e $$ ar 3 3 5................................ c 5 ,h 0 ,0 I0 e n 0 0 s m 0 titp utlo e an ye d r G in re s eo nw me ald Rese ba arc $ $ c h 3 3kg 202 5 5................................ ,,0 0 ro 1 0 00 0 Re u- -n $ $ td 7 i7 re 4 4 t m ,,9 9 o e 9 9 y n 9 9 to Co unfidence Survey. ................................ $$ 77 55 ,0 ,0 00 00 or or m m ore ore ..................... 21 0% 0% and uppSo eur r- cinc e: Emom ployee e Bnon enefit - Re LsG earB cTQ Am h Institute ane d r Gic rea enns wal. d Research 2022 Retirement Confidence Survey. • In the upp 0%So eu rr- cinc e: Em om LGB 0% ploT ye E Q e Le xc L e es ( e Be s$7 s sl l t e t n ha 1 h nt e5,00 0 a fi/ % n tn V R$ $ e e 3r s No 3 5 y e0 o 5 , a 0 Go ,0 n- r0 c0 0 2 L h od r GB 0 0 I % nm sT tQ* itor utee a) 3 n 0 dg % Grroup eeL nGB w: a 4T l0 d Q N $ % R $ 3on e 3 5 s 5,0 e ,0 a- Good 0 0 rL 0 c 0-G h -5 $ $ 0 2 7 7B 0 % 4 4 No 2T ,,9 9 2 9 Q R 9 n- 9 e 9L tA iGB re6 m m 0 Te Q* % e ntr C ic oa nfns id 7e 0 n %a ce LrGB e Su rTm $ vQ e 7 $ 8y 5or 7 0 .,0 5 F % ,a 0 0 e i0 0 r/P 0 o lik or oor r m e m 9No ly o 0 ore % re n- to LGB aTg 1 Q* 0 r0 e% e that their non- retirement fut pur lan e p he roavlt id h a er;nd o LGB nlin long TQLe e sa - s t tde hvr aic m ne $ No 3 c o 5a r ,0 n- ra 0 Le GB 0d ne v Tis Qe od rs s. tha How t Lp GB e ro v TQ v e $ir 3 d, 5e ,0 L 0 g G 0uid B -$TQ Am 74 a No ,9 nc n- 99e LGB be Ta Q rsic ea dns on afo re Lrmula GB m TQ $or 75e s ,0 ; 0lik 0fina oe r m ly nc N ot on re o ia -Ll c GB e itxp e TQ d erts eve olop r ging urusa in the LGBTQ status, where non-LGBTQ Am M Mo illre enni fun ae d ls r oic r ina vns estm a er ne t o pti moor ns e av lik ailab ely leGen to Xer be s satisfied with there m c Be ( a 24% iv Fi be yg B isur oo tye m p ic e6 ra s0 lly ). bas ed non- • • L GBTQ Am N For on Mille -LGeB rnni TQ Am icaa ns ls ta ha e nd LG ric t Ba tG The Q ns en X b ae re e ne r s m fit No : or N s w ne -on LG lik ill - BL T e Q c G ly ont *B TQ Am to inu cit ee LG t e o d Bre Tic b Q ve a e ns lop at a le ing ra e No st m a n -e or st LG qre u Ba T a Q tlik e l in *g ey ly vfor a to lue ha d LG r ta Bv o Tw e Qt ing ha pet r inc sona offe om No rlln e y e -d LG sa in r tBod v TQ e ea d ty ir a e (ny m Fig e m ur ntone ea nd 22 y ) for b . eing Among LGBTQ Americans, 53 percent identify as female; 42 percent as male; 4 percent as gender non-conforming, you way LLGB GBTTQ* QLess than $3No No 5,0n- n- 00 L LGB GBT TQ Q L LGB GBT TQ Q$35,000-$74 No No ,99 n- n- 9L LGB GBT TQ Q L LGB GBT TQ* Q*$75,000 or m No No ore n- n-L LGB GBT TQ Q Fi gure 52, Share of Retirees Who Retired Earlier, Later, or When Planned, by LGBTQ Status ..................................... 35 L t Fi he G gB ur yTQ r w e or 4, e kD t ir w eeit beh a ts Lm e So v fin or e url a ce a e nc : lik E m Pia pl e rL oob ly l a B yGT e ele td B Q* o ev m nis e sa fi, or t Re y b y se tt he ar ha L cG h No y n mi IB n sn- are tTQ Sta itu LtGB ed an d highe TQ d le G- rt einc us enr w om aa t ld ha nd Re Le sn e B e GT I ar Lnc cG Q xpe h B 202 om TQ 2 c Re e te t................................ iA red m m e( No e nFi t r Co n- g ic L nur GB a fide ns e Tn Q c 71) e( Sur Five g . ur y . eL B4 GT 1). Q* ................................ Non-LGBTQ .................. 9 Figure 63 ret irement So So ur p ur cla c ee : Enni : m Em plpl ong o ye ye ee Bt e Bha e ne ne fin LG tfi Re t Y Re e se ss e ar ,ar plan B cc h Ve TQ Am h In Is nry t t s ittu io C tt u e re te o an an n tire d e fd id G r e G e ric e rn a e ea e n trlie w nns w ara ld. ld Re So Re se sme e ar Y ar c e c h w s h 202 , h plan 202 a 2 t 2 Re C Re t to irto e in re m re fm id ee n tire e t n Co tn Co t ln a fi nte de fide rnc n No c ee Sur t Sur C ve No ve o y.n y, .fn id o e c nh t ange So Sourc urc ee : :E E m m plpl oyo ey ee Be e B ne efn ite Re fi 0% ts Re earc se har In c sth it1 ut In 0 e s% tia tu nt d e G an ree d 2 nG 0 w% a re ld e n Re w sa ea ld 3 rc Re 0 h % 2 s0 e 2ar 2 Re cht i202 re 4 m 0e 2 % nRe t C to ire nfm id5 e e0 n nc t% e Co Surv nfie de y.6 nc 0e % Survey.70% on s 8a 0% lary an9 d0 y % ears o 1f00% © 2022, Employee Benefit Research Institute –Education and Research Fund. All rights reserved Source: EmployeeL B L es e ess nse U tfit ha n th Re d a n e n se $ r 6 $ ar 33 5 c 0 5 ,h 0 ,0 Ve I0 n 0 0 s0 tiry tut C Mo e an ore n d 6 fG C id 0r- e e 6 o en 1 n nt w fid ale d n Re tSo sear me c $ 6 $ h U 3 2 3 w 202 5 n -5 6 ,h c 0 ,4 0 2 a 0 h 0 0 Re t a 0 -C - $ n t$ i7 rg o 7 e 44 e m n ,9 ,d f e 9 9 id n 9 9 t9 e Co 65 nt nLe fide sn s C cNo e o Sur n t ve fC id 6 yo 6 e . n -n 6 ftid 9 ent$$ 77 55 ,0 ,0 00 0 7 0 0 or o o r m r o m ore o ld re er m stror atte gg ay g e for So d ure crb ee :t d E mis uc pl onot ing yee B ed ha nee fitb v Ring t e, sea p rcur a h n im Ins cha titutesi p ang nd ac Gr t a eon e nw hom atld he Reeir se , a st a rcb h a 202 ili rtt 2 ing y R et tio rea mp eb na tus C rt oic nfi ine ipa denc ss t ee , Su a rin or ve nd y. e st cont ablis ribut hine g /gr to ow an e ing mp aloy fam erily ’s through media; libraries or communityLe cse s t nt he an rs $;3 5 c,0 hu 00rch/religious cente $35rs ,0 0o 0r -$7 le 4a ,9d 99 ers; social media $p 7o 5,0 sts 00 o br m y fina ore ncial or community Figure 27 r ae , btP le iree rtm c o ee le nt nt a a vg te ha e aW n a n inhe ho reA Lg rG it re B ae nc TQ A Tha e to m t e y Re our ric tir a e ns cm hil . ed nt re Sa n o vrings I other s N faot m ily a P m rior em itbye Re rs a las t tivhe e tir o tC op ur r thr ent e eN long eeds, erb -ty e rLm G B fin TQ Sta anciat l us LessM tha illen nni $3 a5 ls,000 $35Gen ,00% 00-$ Xer 74s ,9 5% 99 10% 15% 20% $B 7 2a 5 5b ,% 0y 0 0 B oo or 30m m %e ore rs 35% 40% non -binary, or genderqueer; and 3 percent as transgender (Figure 2). For sexual orientation, serv ic 49 e percent of LGBTQ Source: EmployL ee e s Bse t nh ea fitn Re $s 3 e 5 ar ,0 c0 h0 Institute and Greenwald Rese$ ar 3 c5 h, 0 202 002 -$ Re 74 ti, re 9m 99 ent Confidence Survey. $75,000 or more Source: Employee Benefit Research Institute and Greenwald Research 2022 Retirement Confidence Survey. So Sour urc ce e:: E Em mpl plo oy ye ee e B Be en ne efi fitt Re Resse ear arc ch h I In nssttit itu utte e an and d G Grre ee en nw wa ald ld Re Resse ear arc ch h 202 2022 2 Re Rettir ire em me en ntt Co Con nfi fide den nc ce e Sur Surve vey y.. Figure 20 So So Sou ur urc rc c e e e :: : E E E m m mpl pl plo o o y y y e e e e e e B B Be e en n n e e e fi fi fi ttt Re Re Re s ss e e e ar ar ar c c c h h h I In In n s ss ttti iitttu u uttte e e an an an d d dG G G rre re e e e e n n n w w wa a a lld ld d Re Re Re s ss e e e ar ar ar c c c h h h 202 202 202 2 2 2Re Re Re tttiirire re e m m m e e e n n n ttt Co Co Con n nfi fi fide de de n n n c c c e e e Sur Sur Suve rve ve y y y ... Source: Employee Benefit Research Institute and Greenwald Research 2022 Retirement Confidence Survey. So Sour urc ce e:: E Em mpl plo oy ye ee e B Be en ne efi fit t Re Res se ear arc ch h IIn ns st tiit tu ut te e an and d G Grre ee en nw wa alld d Re Res se ear arc ch h 202 2022 2 Re Ret tiirre em me en nt t Co Con nfi fide den nc ce e Sur Surve vey y.. Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. Fi Fig gur ure e 53 5, re , DtSha e irb etm rL e e e nt of ve l a p Re la tn P ir re tob ha es le n LGB W mho , by TQ Re Lt G ir A B e m TQ Sta de E ric ar alie ns tus r., Laand terH , e oa r lt W h Sta hen P tula s nne ................................ d, by LGBTQ Status ................................ and Income .................. ....... 35 10 adoption o Sour Sor c ur eh c : e Ea m : Ev p m ling o pl yo ey ee B e c e Bhil ne en fie td R fir te Re e sen a a se rc ar h cIs b h ns Itn itsu te itte uing ta end an Gr d a G em e re nw eong na w ld a lR de Re t sehe s a e rc arir h c202 h t 202 op 2 R 2 e Re tit re thr im ree m e n e te n C t o Co p nfir n dio fie de nc rnit e c Su ie e Sur rve s. ve y .y. 4 So So So ur ur ur c cc e ee :: E E : m m Em pl pl pl o oo y ye y ee e ee B B e B ee n nn e ee fi fit t fi Re t Re Re s se e se ar ar ar c cc h hh IIn n In s st ts iit t tu u itt u te e te an an an d d d G G G rre e re e ee n nn w w w a aa lld d ld Re Re Re s se e se ar ar ar c cc h hh 202 202 202 1 2 2 Re Re Re ttiirt re e ire m m m e ee n nt n t Co t Co Co n nfi n fide fi de de n nc n cc e ee Sur Sur Sur ve ve ve y y.y . . pa la nd nniIng ncom prio e r................................ ities than LGBTQ Ame................................ ricans. .......................................................................... 21 Source: Employee Benefit Research Institute and Greenwald Research 2022 Retirement Confidence Survey. Americans identify as bisexual, 46 percent as gay or lesbian, and 6 percent as other orientations. Figure 40 e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eb b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r ri. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i.o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o or r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rg g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIs s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s ss s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s su u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u ue e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B Br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief A re • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • s e J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J Ju u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u an n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n rce e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eh 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 re,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,p 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 o0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 rt2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 f2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 ro m • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N th o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o oe ...................................................... 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 560 EBR I Education and R esearch Fund © 2022 Employee Benefit Research Institute 38 37 21 14 53 36 49 25 10 31 54 16 29 27 43 28 39 45 32 20 52 50 11 18 26 33 15 17 34 51 42 12 22 48 23 19 30 47 44 13 24 41 35 40 46 55 5 3 7 6 8 4 9 2 Non-LGBTQ LGBTQ Non-LGBTQ LGBTQ Non-LGBTNo Q No n-LG n-LG BTQ BTQ LGBTQ LG LG BB TT Q Q

Volume 560

Pages 55

EBRI Issue Brief

June 14, 2022

Craig Copeland

Lisa Greenwald

Retirement