92: 3 Ways To Close the Gender Retirement Gap

Women are falling behind when financially preparing for their futures. Anne Ackerley, Head of BlackRock's Retirement Group, and Karen Andres, Project Director for Aspen Institute's Retirement Savings Initiative break down the challenges facing women and retirement and how the industry can change to be more inclusive.

Sources

1 U.S. Government Accountability Office, “The Gender Pay Gap and Its Effect on Women’s Retirement Savings”, March 24, 2021 (https://www.gao.gov/blog/gender-pay-gap-and-its-effect-womens-retirement-savings#:~:text=We%20found%20that%20women%20reported,30%25%20lower%20than%20men's%20contributions)

2 National Women’s Law Center, “Another 275,000 Women Left The Labor Force In January”, February 5, 2021 (https://nwlc.org/resource/january-jobs-day-2021/)

3 U.S. Department of Health and Human Services, “Week 41 Household Pulse Survey: December 29, 2021 – January 10, 2022”, (https://www.census.gov/data/tables/2021/demo/hhp/hhp41.html#tables)

4 BlackRock, “2021 BlackRock DC Pulse”, (https://www.blackrock.com/institutions/en-us/insights/defined-contribution/dc-pulse-survey-2021#form)

5 Education Data Initiative, "Student Loan Debt by Gender", December 16, 2021 (https://educationdata.org/student-loan-debt-by-gender#:~:text=Women%20hold%2058%25%20of%20all,to%20pay%20off%20student%20loans.)

6 National Community Reinvestment Coalition, "Racial Wealth Snapshot: Women, Men, And Racial Wealth Divide", March 3, 2022 (https://ncrc.org/racial-wealth-snapshot-women-men-and-racial-wealth-divide/)

7 AARP, "Voters Overwhelmingly Support Workplace Retirement Savings Plans", October, 20,2021 (https://www.aarp.org/retirement/planning-for-retirement/info-2021/poll-results-workplace-savings-plans.html#:~:text=AARP%20research%20shows%20that%20Americans,their%20workplace%20savings%20is%20automatic.)

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