By Sarah O’Brien
Despite the economic and professional gains made by women over the last 50 years, gender gaps persist — and not just in rate of pay.
Retirement readiness and financial know-how are key areas with notable gaps, according to two studies recently released by the TIAA Institute. For example, among workers in TIAA’s system, men contributed a median $8,271 to their workplace retirement plan in 2020, compared with $5,994 for women. While that 27% gap is less than the 34% difference in 2012, it remains significant.
“There are still considerable gaps in retirement readiness between men and women, but there has been noticeable progress over the last 50 years due largely to advances women have made in the workforce,” said Anne Ollen, who oversees the TIAA Institute’s programs and operations.