New research from Prudential finds that women are experiencing the national retirement crisis more acutely then men, and that they face daunting challenges in achieving a secure retirement. On average, the retirement account balances of female employees are one-third lower than those of their male counterparts. Lower account balances, coupled with lower average Social Security benefits and longer life expectancies, mean that women are projected to have lower income to sustain them throughout retirement than men. Plan sponsors can help close this retirement income gender gap through customized plan design, participant engagement programs, and holistic education that focuses on participants’ financial wellness.

Prudential: Closing the Retirement Income Gender Gap – The Opportunity is Now