3/07/2014 – Shift from DB to DC plans has hurt single women most (BenefitsPro)

Mar 10, 2014 No Comments by

The shift away from defined benefit pension plans to defined contribution plans has affected the types of retirement benefits available to most households, but has negatively impacted women the most, particularly those who are not married, according to a report by the Government Accountability Office.

Since the 1960s, the percentage of unmarried, single-parent families has risen dramatically, especially among low-income, less-educated individuals and some minorities, the report found. At the same time, the number of women in the labor force has increased. Both of these events have affected the types of Social Security benefits households receive, with fewer women receiving spousal benefits today than in the past.

Read the full article at BenefitsPro.com.

Financial Landing 2014

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