Women versus men in DC plans

May 2, 2019

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Are women and men different when it comes to retirement plan savings? A new Vanguard research paper shows that women are more likely to participate in these plans, and that when they participate, they save more. However, men have higher wages and higher account balances. Controlling for income, women save more in defined contribution plans and have higher balances.

The increasing adoption of automatic enrollment is mitigating the differences in participation and saving rates between men and women. Lower-wage individuals see the largest improvement in retirement savings from automatic enrollment, and a higher proportion of women than men have lower wages.

Read white paper