By 2015, workers over the age of 55 will constitute 20 percent – or one out of every five workers – of the total workforce.
Today, millions of Baby Boomers nearing retirement are facing diminished 401(k)s and rising health costs – and realizing that they will need to keep working much longer than expected. Most people over the age of 45 indicate that they will need to work at least part time in retirement for financial reasons. Others indicate that they want to keep working past retirement age in order to remain active and engaged. But older workers – and particularly those dealing with chronic health conditions or caregiving requirements of their own – may not be able to maintain a standard full-time, full-year schedule.
Workplace flexibility is a critical tool for older workers who want to or need to remain active in the workforce.
Workplace Flexibility 2010 Resources:
- Older Workers and the Need for Workplace Flexibility – Fact Sheet
- Senate Aging Committee Testimony - Chai Feldblum
- ERISA Advisory Council Testimony on Phased Retirement - Chai Feldblum
- A Timeline of the Evolution of Retirement in the United States
- Phased Retirement Data Sheet
- Benefits, Rights and Features: Nondiscrimination Testing and Phased Retirement Programs
- Phased Retirement and the Age Discrimination in Employment Act
- Early Retirement Incentive Plans and the Age Discrimination in Employment Act
- Phased Retirement and Final Full Retirement Calculations: Open Issues
- Dear Colleague Letter for July 2005 Briefing on Older Workers and Workplace Flexibility (Signed by Senators Herb Kohl and Gordon Smith)
- Legal and Research Summary Sheet: Phased Retirement