Social Security A Good Deal for African Americans

Social Security is a good deal for African Americans according to a report from the Center on Budget and Policy Priorities (CBPP). Here is what their press release says:

"African Americans have only about a third as much money in pension and retirement savings as whites do, on average, so they rely on Social Security for a larger share of their income in retirement,” said William Spriggs, Chairman of the Economics Department at Howard University and the report’s co-author (along with Center Senior Fellow and NYU Visiting Scholar Jason Furman). “In addition, African Americans benefit more than other groups from some of Social Security’s key features, such as the survivors benefits it provides to the families of workers who die before retirement and the disability benefits it provides to disabled workers and their families. African Americans thus have more to lose if Social Security is partially replaced by private accounts.”