If there were a real City of Cibola—with streets paved with gold—women would need to go there, because they have—and get—less of it.
Women still haven't reached pay parity with men, earning just 79 cents for every dollar a man makes. They spend longer periods out of the workforce, due to raising children and providing care to other family members. And to top it off, they face the prospect of needing more money in retirement than their male counterparts.
But women are running behind in retirement savings, too. They save only 7.5 percent of their salaries, compared with men who save 8.7 percent of larger salaries. They have smaller balances than men; in 2015, women had an average plan balance of $71,060, compared to men's $119,150, according to an Aon Hewitt study.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
