Women twice as likely to retire in poverty

April 14 marked Equal Pay Day and stirred plenty of conversation about gender discrimination in pay, to the tune of 78 cents earned by women for every dollar earned by men, and the Paycheck Fairness Act as a step toward leveling the retirement playing field for American women.

A recent poll by the National Institute of Retirement Security found that 86 percent of Americans believe the nation is facing a retirement crisis, while 75 percent are concerned about their ability to achieve a secure retirement.

Women make up 48 percent of the nation’s public sector and 59.5 percent of positions in state and local governments, according to CNNMoney.

A December report conducted by the Employee Benefit Research Institute found the current median of 401(k) savings accounts is a little more than $18,000. According to the U.S. Government Accountability Office, the median retirement income for women in 2010 was only 59 percent that of men.

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