Why Do Boomers Plan to Work Longer
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TLDR
Given the continued erosion in employer-sponsored retiree health benefits and defined benefit pension plans, boomers will likely remain at work longer than members of the previous generation.Abstract:
Objectives. Recent changes in retirement trends and patterns have raised questions about the likely retirement behavior of baby boomers, the large cohort born between 1946 and 1964. This study examined recent changes in retirement expectations and the factors that drove them. Methods. Using data from the Health and Retirement Study, the analysis compared self-reported probabilities of working full time past ages 62 and 65 among workers aged 51 to 56 in 1992 and 2004. The study modeled retirement expectations for both generations and used the estimated regression coefficients to identify the forces that accounted for generational differences. Results. Between 1992 and 2004, the mean self-reported probability of working full time past age 65 among workers aged 51 to 56 increased from 27% to 33%. Lower rates of retiree health insurance offers from employers, higher levels of educational attainment, and lower rates of defined benefit pension coverage accounted for most of the growth. Discussion. Given the continued erosion in employer-sponsored retiree health benefits and defined benefit pension plans, boomers will likely remain at work longer than members of the previous generation. Lengthier careers will likely promote economic growth, increase government revenue, and improve individual financial security at older ages.read more
Citations
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Cohort Profile: the Health and Retirement Study (HRS).
Amanda Sonnega,Jessica D. Faul,Mary Beth Ofstedal,Kenneth M. Langa,John W.R. Phillips,David R. Weir +5 more
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Psychological Research on Retirement
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Trajectories of Cognitive Function in Late Life in the United States: Demographic and Socioeconomic Predictors
Arun S. Karlamangla,Dana Miller-Martinez,Carol S. Aneshensel,Teresa E. Seeman,Richard G. Wight,Joshua Chodosh +5 more
TL;DR: The authors concluded that ethnic and socioeconomic disparities in cognitive function in older Americans arise primarily from differences in peak cognitive performance achieved earlier in the life course and less from declines in later life.
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Retirement Timing: A Review and Recommendations for Future Research
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Frontiers of Research on Work and Retirement
TL;DR: 4 areas of retirement research deserve special attention in the present historical circumstance: studies of the form and timing of retirement exits, the labor market for older workers, the quality of pensions, and the experience of retired life.
References
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TL;DR: In this article, the authors estimate the average extent of discrimination against female workers in the United States and provide a quantitative assessment of the sources of male-female wage differentials in the same occupation.
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Health and Retirement Do Changes in Health Affect Retirement Expectations
TL;DR: In this article, a measure of labor force attachment, the subjective probability of continued work, was used to examine the role of health and changes in health status in the relationship between health and early retirement.