A lower percentage of female employees had retirement savings of at least $100,000 compared with men, according to the recently released annual Transamerica Retirement Survey of Workers conducted in September and October. One-third of female workers had $100,000 or more saved for retirement vs. 47% of men. At the other end of the spectrum, 25% of women’s retirement savings totaled less than $10,000 compared with 17% of men.
Female workers’ retirement savings lags behind male employees across generations — Transamerica
Among female Generation Z employees, 1 in 5 had $100,000 or more in retirement savings, with the portion increasing with each prior generation. A large percentage of each generation, ranging from 23% of baby boomers and Generation X to 29% of Generation Z, had savings of less than $10,000.
A higher percentage of male workers across generations had savings of $100,000 or more compared with female employees. More than one-third, 36%, of male Generation Z employees, reached that threshold, going up to 62% of baby boomers.
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