Filed Under:Annuities, Variable

Women behind men in retirement saving

A recent report from Aon Hewitt found women have weaker savings and are more at risk for DC plan leakage

Women are contributing less to their employer-sponsored defined contribution (DC) plans than their male counterparts, just 6.9 percent of their pay compared to 7.6 percent for men, according to a new report from Aon Hewitt (Aon).

The difference, though not monumental, is not marginal, either. In addition to devoting 0.7 percent less of their pay to their DC plans, the report found nearly one-third of women contribute below the company match threshold compared to one-quarter of men. These two factors render women, across all salary ranges, with significantly less in their retirement plan balances than men  $59,300 for women, $100,000 for men.

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Nichole Morford

Nichole Morford
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