Report: Women lag way behind in retirement savings
A new study uncovered an alarming difference between what men and women have socked away for retirement.
Women’s average defined contribution (401(k), 403(b), etc.) plan balances are only around 60% of what men’s DC balances are, according to The Gender Matters: Retirement Savings of Working Men and Women report by LIMRA.
Specifically, working women 50 years and older have nearly $63,000 less saved for retirement than men of the same age and same employment status.
These findings are very troubling when you consider women have a longer average lifespan than men and will therefore need more money retirement.
The study also found that only 14% of women considered themselves knowledgeable when it came financial products and services, compared to 29% of men.
- Share on
Free Training & Resources
White Papers
Provided by UJET
Further Reading
Here’s a common scenario: An individual leaves one employer for another. The previous employer offered a 401(k) plan. The individu...
The IRS has explained how to handle taxes if a retirement plan participant doesn’t cash a distribution check and another check is issued....
Americans use more healthcare services than any other people. So we pay more as a result — and the cost is going up every year. 2025 ...
On Aug. 7, 2025, President Trump signed an executive order expanding 401(k) plans’ ability to include alternative investments – such as...
Employees may not understand lifestyle spending accounts (LSAs) as well as you think. That can lead to questions or just confusion. Thi...
Environmental, social and governance (ESG) ratings of companies was never as popular as many in the media made it out to be. And the more t...
