Retirement Industry Highlights Women’s Retirement Security Day
July 14 marks the first Women’s Retirement Security Day, established by the American Association of Retired Persons (ARA) to help women savers prepare for retirement.
The day will be celebrated on the second Tuesday of July each year, when politicians, organisations, employers and community leaders will share resources to help improve women’s retirement.
These resources include a set of educational materials, social media content, discussion guides, shareable graphics and participant-focused features designed to engage savers and promote further discussion, ARA said. At st ARA websitethe organization included handouts that covered beneficiary selection, how members can access their retirement savings accounts, and activity ideas to encourage engagement.
Research has long shown a disproportionate gap in women’s retirement savings caused by barriers such as the gender pay gap, greater debt and career interruptions due to caregiving responsibilities. A T. Rowe Price study from 2023 found that women contribute 43% less annually to retirement accounts and their average account balance is 65% lower than men, at $21,638 compared to $62,040.
Meanwhile, a The Standard’s 2026 study showed that women are more likely than men to carry health care debt due to the costs associated with having a child and an overall lower average income.
Incorporating voluntary benefits and disability benefits into the workplace, along with engaging employees in financial conversations and improving financial wellness programs, can drive savings, said Melissa Oliver-Jagnac, vice president of Total Rewards and M&A strategy at The Standard. “Getting to know women where they’re interested in workplace benefits means that portfolio offerings need to have enough range and flexibility to meet the different financial goals of all employees,” she said at the time.
On opening day, the list of partners grew to include 401(k) Marketing, AARP, Employee Fiduciary, LLC, Transamerica Center for Retirement Studies and WIPN, among others.
The retirement plan industry took to social media on Tuesday to show their support for the event, with many highlighting its impact on female savers.
“Women often face unique financial challenges, such as career breaks, increased life expectancy, and lower lifetime earnings, but these challenges do not determine the outcome,” wrote Jessica Porter and Hayley Porter, financial professionals at BPG Wealth Management and founders Girls 401k. “That’s a big part of why we started The 401(k) Girls…not because women can’t understand money, but because too many women haven’t even been invited into the conversation.”
“As someone who has spent my career helping employers, advisors and plan sponsors navigate retirement plans, I’ve seen firsthand that women often face unique challenges as they prepare for retirement.” stated Dina Hamad, Vice President of Corporate Development and Strategic Communications at Definiti LLC. “Career interruptions, caregiving responsibilities, longer life expectancy and the pay gap can contribute to a gap in retirement savings that deserves our attention.
“At WIPN, our mission has always been to advance women in the retirement industry while helping to shape a stronger future for the people we serve.” wrote Kim Watters Ryan, current president of the WIPN board and a major client of My Corporate Ally. “Women’s Retirement Security Day is a powerful reminder that the work we do matters and that together we can help ensure greater financial security for women across generations.”
