SAN FRANCISCO — Only a week after an election signaling a rollback in public-employee retirement benefits, new Federal Reserve data show a sharp decline in family wealth. The effect is especially acute for non-whites and Hispanic households.

The compounding factors of deep losses in U.S. family wealth, sharp declines in pensions and calls in Washington to reduce Social Security could tarnish Americans’ golden years for generations to come, particularly for economically vulnerable groups of older women and ethnic elders.

Recession Cuts Retirement Savings

The Fed’s new Survey of Consumer Finances for 2010 reveals that while white non-Hispanic families saw a