Women are catching up with men when it comes to what they havesaved up in their retirement plans and the rate at which they'resetting money aside.
According to fourth quarter 2012 data for defined contributionplans administered by MassMutual, the average deferral rate forwomen participants was 5.38%, an increase of 1.6% for the quarter.Men deferred an average of 5.81%, which was an increase of 1.2%from the third quarter of 2012.
According to MassMutual, the gap between what men and women saveis gradually and consistently closing. Since the third quarter of2010, when the average account balance among women participantstrailed that of men by 40.49%, the gap has been gradually closing.During the fourth quarter last year, the average account balanceamong women was 38.25% behind their male counterparts, animprovement of 2.49 percentage points, or 5.6%.
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