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Published: Aug 25, 2021 3 min read
Collage of a hand putting a one hundred dollar bill into a velvet coin purse
Money; Getty Images

The tax breaks in retirement accounts like 401(k)s and IRAs are making racial inequities worse in the U.S., according to a new analysis.

The gap between white and Black and Hispanic families' average retirement account balances widened significantly over the last 30 years, partly because of the tax breaks, according to an analysis by the nonpartisan Tax Policy Center of the Federal Reserve's most recent Survey of Consumer Finances.