This is especially problematic for women of color, who are less likely to have employer-provided pension plans than either white men, white women, or nonwhite men. Women earn less than men. The average woman college graduate earns little more than the average male high school graduate. Women earn 74 cents for every dollar men earn. Women are less likely to work full-time.
Women are more likely to spend time out of the paid labor force.
Many of these women are mothers of young children. Women are more likely to live alone in their retirement years. Women spend more retirement years living alone, receiving just one Social Security benefit, either their own or a spousal benefit. Unlike private individual accounts, Social Security benefits are safe, reliable, and guaranteed for life. This protection is especially important for women because of their longer life span.