MassMutual’s fourth-quarter retirement savings plan data suggests that women are catching up to men when it comes to saving for their retirements.
According to the data, the company’s female account holders on average deferred 5.38 percent of their paychecks into a retirement plan during the fourth quarter, which represents a 1.6 percent increase from their average deferment rate for the third quarter of 2012. The company’s male account holders had an average deferment rate of 7.8 percent during the fourth quarter, which is a 1.2 percent increase from their third-quarter rate.
Based out of Springfield, Mass., MassMutual has offered retirement savings plans for more than 65 years and currently serves 3 million plan holders.