Women Workers Less Likely to Have Secure Retirement

Women Workers Less Likely to Have Secure Retirement

by James Parks, May 18, 2009      

Women workers are less likely than men to have enough money to retire comfortably because they generally live longer than men and earn less on the job, according to a new report. It will take a three-pronged approach to help women have a secure retirement, the report says: traditional pensions, supplemental 401(k)-type savings and Social Security.

“Shattering the Retirement Glass Ceiling: Women Need a Three-Legged Stool,” released  this month by the non-profit research group National Institute on Retirement Security (NIRS), found that because of her longer life expectancy, a woman with an annual income of $50,000 would need to save $1,000 more toward retirement every year than her male counterpart to have an equal retirement experience