Women are closing the gap in saving rates for retirement compared to their male counterparts, according to fourth quarter 2012 data for defined contribution plans administered by MassMutual.

Since the third quarter of 2010, when the average account balance among female participants trailed that of men by 40.49%, the gap has been gradually closing. The average account balance among females was 38.25% in the fourth quarter, behind their male counterparts, an improvement of 5.6%.

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