You and I are among a relatively small group of older women who enjoy decent pensions. Many women of our generation do not qualify for retirement benefits because they took time away from the workplace, or worked part time, to raise children or tend to aging parents. As a result, the majority over 70 rely on Social Security for most of their income, with an average monthly check of around $1,300.
For most women reaching retirement age today, however, their situation is still generally worse than that of their male counterparts.
Women are 80 percent more likely than men to be impoverished at age 65 and older, while women between the ages of 75 and 79 are three times more likely than men to be living in poverty.
Given the evaporation of traditional pensions and the stagnation of wages, the next generation of women to reach retirement age is likely to spend more time working. Increasing numbers of women over 55 are working full or part time, and the Bureau of Labor Statistics projects that by the end of this decade, about 20 percent of the women over 65 will be in the labor force.
Because there are many in the state legislature along with Governor Ducey who wish to change and weaken the ASRS it is time to un-elect them in order that we protect the system for all of us.
Taken from: For Many Women, Adequate Pensions Are Still a Far Reach By ELIZABETH OLSON Read full article here