In FocusCrisis Amplifies Concerns About Retirement Gap for Women

Crisis Amplifies Concerns About Retirement Gap for Women

-

- Advertisment -sslate

The pandemic has disrupted plans for a secure financial retirement for many Americans, and financial experts say women face a more difficult recovery than men.

Daniel Doonan, executive director of the National Institute on Retirement Security, said because women often work part-time, they’re less likely to have a workplace retirement plan.

And women often leave jobs to have children or care for family members, a role that’s getting renewed attention during the crisis.

Doonan said those factors, combined with the gender pay gap, limit a woman’s ability to comfortably retire.

“The pay gap that exists in the workplace tends to follow women into retirement as well,” said Doonan. “And that’s true, I think, whether it’s a savings plan or whether it’s a pension that’s more built on your pay over time.”

Doonan said he encourages women who have a retirement plan at work to participate to the fullest extent, saving as much – and as early – as possible.

retirement

In Iowa, women make 78 cents compared to every dollar earned by men. That’s below the national average of 82 cents to the dollar.

Melissa Peterson, government relations specialist at the Iowa State Education Association, said the gender pay gap and ripple effect on retirement is especially burdensome for women of color.

She said the state does have a strong public pension system that helps narrow such gaps. But Peterson said she knows not all women have these protections, including those in the hospitality sector.

“Those kinds of professions, that are dominated by women, and many of those positions were cut during the pandemic,” said Peterson.

She said she’d like to see all of Iowa’s congressional delegation support equal-pay and paid-leave proposals that have surfaced in Washington.

Advocacy groups have also said states like Iowa should take preventive steps, such as creating an advisory committee on pay equity.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Why is sociology on the chopping block in Florida?

Florida's education system is a proposal to drop sociology, the study of social life and the causes and consequences of human behavior

Marriott Homes and Villas vs. Apartments by Marriott: A Comprehensive Comparison

Marriott International, a global hospitality leader, offers two distinct vacation rental programs: Marriott Homes and Villas and Apartments by Marriott

Unlocking the Ultimate NFL Experience: Why StubHub Reigns Supreme for Season Tickets

When it comes to purchasing NFL season tickets, one platform stands out among the rest: StubHub.

Nurturing Ideas, Shaping Policy: The Vital Role of Think Tanks and Research Institutions in the USA

This article explores the crucial role that think tanks and research institutions play in the USA, delving into their functions, impact, and the challenges they face.
- Advertisement -

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

Florida Student groups defend Palestinian rights with lawsuits against state officials

The Students for Justice in Palestine chapters at the University of Florida and the University of South Florida are filing lawsuits against the deactivation orders
edealo.com
- Advertisement -sslate
transformerscon

Must read

Nurturing Ideas, Shaping Policy: The Vital Role of Think Tanks and Research Institutions in the USA

This article explores the crucial role that think tanks and research institutions play in the USA, delving into their functions, impact, and the challenges they face.

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you