Summary

Individual account (IA) retirement plans are the dominant source of financial assets for many private-sector workers and retirees, and are gaining importance among those currently or previously employed in the public sector. These plans include employment-based retirement savings plans financed by employer and employee contributions, Keogh plans for the self-employed, and individual retirement accounts for savings outside of the workplace. Using the Federal Reserve's Survey of Consumer Finances, this week’s Fast Fact examines the ownership of and amount held in IA retirement plans by families with heads of different races and ethnicities.