Retirement, Timing of

“When asked the age at which they consider a person to be ‘too old’ to work, more than half of workers* (54%) say ‘it depends on the person.’ Across generations, Baby Boomers are most likely to say it depends on the person (69%), followed by Generation X (54%) and Millennials (44%). Among those who provided a specific age, workers say age 75 (median) is “too old” to work,” according to an analysis of date from the 2017 Transamerica Retirement Survey. (p. 15)

* Full-time or part-time workers aged 18+ in a for-profit company employing 5 or more people

Among workers* aged 18+ participating in the 2017 Transamerica Retirement Survey, “3 in ten workers (30%) dream of doing some form of work in retirement, including “pursuing an encore career” (13%), “starting a business” (13%) and/or “continuing to work in the same field” (11%).“  (p. 10)

* Full-time or part-time workers in a for-profit company employing 5 or more people

Among currently employed* Baby Boomers (born 1946 to 1964), “54% plan to continue working after they retire”; however, “only 42% are proactively keeping their skills up to date so they can continue working past 65 or in retirement, if needed. Only 28% have a backup plan for retirement income if unable to work prior to their planned retirement,” according to a 2017 analysis of data from the Transamerica Retirement Survey. (p. 9)

* Full-time or part-time workers in a for-profit company employing 5 or more people

“39% of employed individuals age 65 and older say that they had retired at some point previously…that is, they reentered the labor force at some point after initiating a retirement transition,” according to a 2017 analysis of data from a RAND survey.  (p. 12 and fig. 3.2)

  Among workers aged 55 and older who participated in the Health and Retirement Survey from 1992-2010, “by age 62, 57% are no longer in the labor force, 26% are still in their ‘career’ occupation (that is, longest held occupation), and 17% have changed from their career occupation to another occupation, potentially indicating bridge employment or unretirement,” according to a 2016 analysis of data from the Health and Retirement Survey.  By age 66, 73% are not in the labor force, while about 13% are in the same occupation and 13% are in different occupations. (p. 12 and Table 4)

According to a 2017 survey conducted for AICPA by Harris Poll, “non-retired Americans are more likely than those who are currently retired to plan on making at least one financial sacrifice in retirement (92% vs. 72%). In fact, non-retired Americans are more likely to anticipate a sacrifice in every category, including:

Working full-time longer than expected (45% non-retired vs. 11% retired);
Working a part time job (43% non-retired vs. 17% retired);
Moving to a less expensive city or town (40% non-retired vs. 22% retired);
Forgoing medical care or treatment (28% non-retired vs. 14% retired).”

 “Almost two in three (64%) retirees aged 65+ reported that personal circumstances — ranging from health issues to a desire for more leisure time — were quite or extremely important to their retirement decision,” according to a 2016 survey by Willis Towers Watson. “More than half (56%) of retirees cited employer retirement plans and other employer incentives as key factors in their decision to retire,” while 23% gave reasons related to their working environment, such as “feeling disengaged from their employer, their job or both,” and 14% mentioned capability to do the job due to health or other reasons. (Fig. 1)

*With an average household income of $81,907, these respondents had higher incomes than the typical U.S. retiree (the national averages are $53,500 for those over 65 and $63,900 for those between 65 and 74) Moreover, these retirees enjoyed employer-based retiree medical insurance, which most U.S. retirees do not.

“The percentage of workers planning to work for pay in retirement now stands at 79%, compared with just 29% of retirees who report they have worked for pay in retirement, according to the EBRI 2017 Retirement Confidence Survey.  (Fig. 28)

According to the EBRI 2017 Retirement Confidence Survey, "nearly 4 in 10 (38%) of workers expect to retire at 70 or beyond, while only 4% of retirees report this was the case. Just 9% of workers say they plan to retire before age 60, compared with 39% of retirees who report they retired that early. 17% of workers say they plan to retire between the ages of 60 and 64, although 38% of retirees say they retired in that age range." (p. 19, fig.26)

“Half of women (50%) plan to work after they retire, including 11% who plan to work full-time and 39% who plan to work part-time. Similarly, 52% of men plan to work after they retire, including 15% full-time and 37% part-time,” according to a 2017 report on the Transamerica retirement survey of over 4000 adult workers age 18+. (p. 6)

According to a 2017 report from Transamerica based on the global Aegon Retirement Readiness Survey,  almost 70% of self-employed workers envision a flexible transition to retirement. Among those, 46% expect to transition to working part-time or on temporary contracts, while 23% expect to continue working as they currently do. In contrast, 32% of self-employed workers expect to stop working completely and enter full retirement. (Chart 4, p. 10)

According to a 2016 analysis of data from the Bureau of Labor Statistics, labor force "participation fell substantially when individuals reach age 62 (the age they first become eligible for Social Security benefits) and again at age 65 (the age they become eligible for full Social Security benefits). In 2015, the rate for women fell by 4.6 percentage points at age 62 and by 4.8 percentage points at age 65. For men, the decreases at age 62 and age 65 were 7.3 percentage points and 6.5 percentage points, respectively." (See table 4.)

According to the 2016 Aegon Retirement Readiness Survey conducted in 15 countries, "regarding the possibility of raising the retirement age [for full entitlements] to offset the costs of people living longer, 39% of respondents say that the retirement age should remain unchanged, almost double the proportion who think it should increase in line with life expectancy (20%),"  while 18% say that the retirement age should increase except for those in dangerous jobs or for manual workers, according to the 2016 Aegon Retirement Readiness Survey conducted in 15 countries*. (p. 13 and chart 7)

According to the 2016 Transamerica retirement survey, “78% of employers agree that they are supportive of their employees working past age 65 and delaying retirement, including 31% who “strongly agree” and 47% who “somewhat agree.” On the other hand, workers are less likely to believe that their employers are indeed supportive, with 71% agreeing that their employers are supportive, of whom 23% “strongly agree” and 48% “somewhat agree.” (p. 37)

According to the 2015 Retirement Confidence Survey, "16% of workers in the 2015 RCS say the age at which they expect to retire has changed in the past year, and of those, the large majority (81%) report their expected retirement age has increased." However, the overall percentage of workers reporting that they expect to retire later than originally planned has "decreased from 22% in 2013 to 15 percent in 2014 and 13% in 2015." (p. 23, fig 31)

According to a 2016 analysis of Current Population Survey data, during the 10 years between 2004 and 2014
"the percentage who cited illness or disability as the main reason [for not being in the labor force] increased from 5.5 % to 6.5%. The proportion citing home responsibilities declined from 6.0% in 2004 to 5.4% in 2014.

According to the 2015 Retirement Confidence Survey, "statistically, there are no differences in the age at which workers plan to retire by gender; both groups have median expected retirement age of 65 (page 3 and Figure 5)

According to a 2015 Transamerica survey, among retirees who were asked to self-identify as either fully retired or semi-retired, "91% of retirees say they are fully retired and they retired at age 62 (median). 61% retired before the age of 65. As for the other 9% of retirees who self-identify as semi-retired, they expect to stop working altogether and fully retire at age 70 (median)." (p. 8)

According to a 2015 Transamerica survey, among retirees who were asked to self-identify as either fully retired or semi-retired, "91% of retirees say they are fully retired and they retired at age 62 (median). 61% retired before the age of 65. As for the other 9% of retirees who self-identify as semi-retired, they expect to stop working altogether and fully retire at age 70 (median)." (p. 8)

According to a 2015 Transamerica survey, "The majority of retirees (60 percent) retired sooner than planned. Seven percent retired later than planned and 33 percent retired when they had planned. Among retirees who retired sooner than planned, 66 percent did so for employment-related reasons such as organizational changes, job loss, unhappiness with job/career or received a buyout. Twenty-seven percent did so due to health reasons and 11 percent for family responsibilities (e.g., becoming a caregiver). Only 16 percent retired because they found they had saved enough or received a windfall. (p. 9)

According to a 2015 Transamerica survey, "among retirees who retired later than planned, most (61 percent) did so for financial reasons or the need for benefits. Forty-four percent say they delayed retirement for reasons of enjoyment."

According to a 2015 Transamerica survey, among persons identifying themselves as retired or semi-retired, "fewer than five percent are either pursuing an encore career, working in their current field, or starting a business.  Retirees say that they are spending more time with family and friends (53 percent), pursuing hobbies (40 percent), traveling (33 percent), and doing volunteer work (24 percent). Eleven percent are taking care of their grandchildren and seven percent are caregiving. (p. 10)

According to a 2015 AARP survey of full-time workers aged 50-64, "the most popular age for [projected] retirement falls between 65-69 (45%). The balance of respondents are split between retiring early, before the age of 65 (23%), or late, at 70+ (26%). Very few (6%) have no plans to retire. (p. 4)

According to a 2015 AARP survey of full-time workers aged 50-64, "nearly 7 in 10 (68%) say they plan to retire at or after the age of 65. Over one third of respondents think they would pursue paid work if they decided to retire from their current job today." (p. 7)

According to the 2015 EBRI Retirement Confidence Survey of workers and retirees age 25+, a large percentage of retirees leave the work force earlier than planned (50 percent in 2015). Many retirees who retired earlier than planned cite hardships for leaving the work force when they did, including health problems or disability (60 percent), changes at their company, such as downsizing or closure (27 percent), and having to care for a spouse or another family member (22 percent). Others say changes in the skills required for their job (10 percent) or other work-related reasons (22 percent) played a role. Of course, some retirees mention positive reasons for retiring early, such as being able to afford an earlier retirement (31 percent) or wanting to do something else (17 percent)." (p. 26-27)

According to the 2015 EBRI Retirement Confidence Survey, the age at which workers plan to retire has crept upward over time. In particular, the percentage of workers who expect to retire after age 65 has increased, from 11 percent in 1991, to 19 percent in 2000, 24 percent in 2005, 33 percent in 2010, and 36 percent in the 2015 RCS. Additionally, 1 in 10 in the 2015 RCS (10 percent) say they never plan to retire. Nevertheless, the median (midpoint) age at which workers expect to retire has remained stable at 65 for most of this time." (p. 25)

According to the 2015 EBRI Retirement Confidence Survey of workers and retirees age 25+, "in 1991, only 8 percent of retirees said they retired after age 65. This percentage is 14 percent in 2015 . The median (midpoint) age at which retirees report they retired has remained at age 62 throughout this time." (p. 25)

According to the 2015 EBRI Retirement Confidence Survey of workers and retirees age 25+, "just 9 percent of workers say they plan to retire before age 60, compared with 36 percent of retirees who report they retired that early. Sixteen percent of workers plan to retire between the ages of 60-64, although 29 percent of retirees retired in that age range. On the other hand, 26 percent of workers plan to wait (compared with 6 percent of retirees who actually waited) at least until age 70 to retire and 10 percent of workers indicate they will never retire. (p. 25)

According to a 2015 survey by Transamerica, among employed adults age 18+, "eighty-two percent either plan to or are already working past age 65 -- or they do not plan to retire. Half are planning to continue working in retirement, at least part-time, and mostly for reasons of income and health benefits. Forty-two percent are envisioning a phased transition into retirement. Seventy-three percent believe their transition, phased or otherwise, will take place at their current employer. (p. 8)

According to a 2015 survey by Transamerica, among employed adults age 18+, "fifty-eight percent of workers plan to work past age 65 or do not plan to retire, but expectations differ across age ranges. Sixty-one percent of workers in their Forties, 59 percent of workers in their Fifties, and 82 percent of workers in their Sixties and older plan to work past age 65 or do not plan to retire. In contrast, half of workers in their Twenties and Thirties expect to retire at age 65 or sooner." (p. 10)

According to a 2015 survey by Transamerica, among employed adults age 18+, "about half (51 percent) of workers plan to work after they retire, including 39 percent who plan to work part-time and 12 percent full-time. Expectations of working in retirement are generally similar across age ranges." (p. 10)

According to a 2015 survey of middle-income boomers, "nearly one-third (28%) of retired Boomers indicate that they are either currently employed or have been employed for pay in retirement. Of retired Boomers who are not currently employed, half (48%) would like to work but are unable to work, most often because of health reasons." (p. 4)

According to a 2015 survey of middle-income boomers, "half (49%) of employed middle-income Boomer retirees expect to work beyond age 70 or as long as their health will allow." (p. 4)

According to a 2015 analysis of CPS labor force participation data, the average retirement age* in 2013 "was about 64 for men and about 62 for women", about the same as a decade ago. (p. 1, 3, fig. 5)

*Average retirement age is defined as the age at which the labor force participation rate drops below 50 percent.

According to the 2015 CareerBuilder's annual retirement survey, "54% of senior workers (age 60+) say they'll work after retiring from their current career -- up from 45%  last year. Of this group, 81% say they'll most likely work part-time, while 19% plan to continue working full-time. Customer service, retail and consulting are the three most common jobs these workers plan to pursue."

According to the 2015 CareerBuilder's annual retirement survey, "the number of workers age 60 or older currently delaying retirement reached a post-recession low of 53%. This number is down from 58% last year and 66% in 2010."

According to a 2014 SHRM survey of HR professionals, "about one-half of responding organizations reported they track the percentage of workers in their organization eligible to retire in the next 1-2 years (50%) and 3-5 years (45%). Of responding organizations, 10% of their employees will be eligible for retirement in the next 1-2 years; another 14% will be eligible in the next 3-5 years." (p. 5)

According to a 2014 AARP survey, "a majority of 50+ workers (57%) plan to work past the age of 65, including roughtly two in ten (18%) who say they will never retire. In addition, many (43%) say they began saving too late for retirement." (p. 4)

According to a 2014 MetLife report based on their 2013 US Employee Benefit Trends study, 39% of older boomers and 41% of younger boomers strongly agree that they expect to postpone retirement due to their financial situation. (p. 4)

According to a 2014 analysis of Health and Retirement Study data, when respondants aged 50-61 were asked to estimate the probability of working full-time at ages 62 and 65, "on average, 48 percent expect to work full-time at age 62 and 28 percent at age 65.9." (p. 2)

According to a 2013 Merrill Lynch survey, "half of pre-retirees age 50+ say they would make major sacrifices that could impact their retirement to help family members. Among these pre-retirees, three in five say they would retire later, four in ten would return to work after retirement, and more than one-third say they would accept a less comfortable retirement lifestyle to help family financially." (fig. 4, p. 7)

According to a 2014 survey by Encore.org, among respondants who are active in encore careers today, 44 percent transitioned into new roles between 45 and 54, and 44 percent in the next decade, from 55 to 64."

Acording to a 2006 survey from Merrill Lynch, "the ideal retirement for 71% of adults surveyed is to work in some capacity, and almost half of those U.S. adults who plan to work in retirement (45%) say they don't plan to stop working -- ever. On average, people expect to retire at age 61, but they see themselves working an average of nine years in retirement. The average age at which they will stop working completely is over 70."

According to the 2013 Merrill Lynch retirement survey, "seven out of ten (71%) pre-retirees say they would ideally like to include some work in their retirement years. Most are seeking flexible work arrangements, such as part-time work (39%) or going back and forth between periods of work and leisure (24%)." 8% indicated that they will work full-time. (fig. 1, p. 5)

According to the 2013 Merrill Lynch retirement survey, "among pre-retirees who would like to include some work in their retirement years, about half (51%) half saying they would like to pursue a different line of work, while 49% plan on continuing the same line of work they did in their pre-retirement years." (fig. 3, p. 6)

According to the 2013 Merrill Lynch retirement survey, "52% of respondents say that money and financial security are the most important motivations for working in retirement, almost half (48%) say continued 'stimulation and satisfaction' are the main reasons they want to work in retirement. Among the more affluent respondents, 68% say that continued stimulation and satisfaction are the primary reason, compared to 32% for money and financial security." (fig. 4, p. 6)

According to the 2013 Merrill Lynch retirement survey, "nearly three out of five retirees say they retired earlier than they expected -- 58% of women, 56% of men. Health problems are actually the top reason for early retirement, with 34% reporting this, compared to 27% having sufficient financial resources to retire. 24% report losing their jobs as the reason for early retirement, while 16% want to spend more time with family, and 10% needing to look after a family member." (FIG 10, p. 8).

According to a 2014 Transamerica retirement readiness survey, "fifty-eight percent of workers who plan to work in retirement and/or past age 65 cite reasons related to income and health benefits. Baby Boomers and Generation X (both 62 percent) plan to do so for those reasons, a higher response rate than that of Millennials (49 percent)." (p. 34)

According to a 2014 Transamerica retirement readiness survey, "many workers (52 percent) plan to continue working after they retire, including 40 percent who plan to work part-time and 12 percent full-time. Only 27 percent of workers do not plan to work after they retire, and 21 percent are not sure. Baby Boomers, Generation X, and Millennials are strikingly similar in their expectations." (p. 33)

According to a 2014 Transamerica retirement readiness survey, "the majority of workers (55 percent) plan to work past age 65 or do not plan to retire. However, expectations are quite different among generations. Sixty-five percent of Baby Boomer workers plan to continue working past age 65 or do not plan to retire. Many of Generation X (54 percent) also plan to do so. In contrast, the majority of Millennials (60 percent) plan to retire at 65 or sooner." (p. 31)

According to a 2014 analysis of data from a survey by Merrill Lynch, "five years before retiring, 37% of pre-retirees who want to work in retirement will have taken some substantial steps to prepare for continued work. Preparing to work in retirement then intensifies in the two years prior -- at which point, 54% of pre-retirees who want to work in retirement will significantly prepare to do so." (p. 9)

According to a 2014 analysis of data from a survey by Merrill Lynch, "about half (52%) of working retirees say they took a break from working when they first retired. The average Career Intermission is roughly two and a half years (or 29 months)." (p. 10)

According to a 2014 analysis of data from a survey by Merrill Lynch, "nearly half (47%) of today's retirees say they either have worked, [are currently working] or plan to work during their retirement years ...72% of pre-retirees age 50+ now saying that their ideal retirement includes work in some capacity." (p. 1)

According to a 2014 Gallup report, "the average age at which U.S. retirees report retiring is 62...while the average age at which non-retired Americans expect to retire [is] 66."

According to a 2014 Gallup report, "the majority of all age groups expect to retire at age 65 or older. This includes 62% of 18- to 29-year-olds, 62% of 30- to 49-year-olds, and 58% of 50- to 64-year-olds."

According to a 2014 Gallup report, "the average age at which non-retired Americans expect to retire has increased over time, from 60 in 1995 to 66 this year [2014]. Furthermore, in 1995, more non-retired Americans expected to retire younger -- 15% expected to retire before age 55, compared with 4% in 2014."

According to a 2014 Gallup report, "Americans' average self-reported age of retirement has slowly moved upward...the average retirement age was 57 in both 1991 and 1993. From 2002 through 2012, the average hovered around 60. Over the past two years, the average age at which Americans report retiring has increased to 62."

According to a 2013 Towers Watson survey of over 4000 retirement plan participants working full-time, "in 2009, 31% of workers planned on retiring before age 65 and 41% planned on retiring after 65. In 2013, only 25% of workers planned on retiring before 65 and half expected to retire after 65." (fig. 15)

According to a 2013 Towers Watson survey of over 4000 retirement plan participants working full-time, among those employees who report that they plan to delay their retirement, 57% report that they are in poor health and 59% report high stress levels. (Fig. 13)

According to a 2013 Towers Watson survey of over 4000 retirement plan participants working full-time, 43% plan on retiring later than previously planned [43%], while 45% report no change and 12% plan to retire earlier. "A large majority of these employees expect to delay retirement by 3 or more years, and 44% plan on a delay of 5 years or more". (Fig. 13 and 14)

According to the AARP 2013 career study on older workers (ages 45-74), "more than 7 in 10 say they plan to work in retirement; this includes 29% who will work part-time for enjoyment and 23% who will work part-time for income". Additionally, 13% say they plan to work for themselves or start their own business while 5% plan to work full-time in a new career. About one quarter (26%) do not plan to work for pay at all.  (Fig. 2, p 24)

According to a 2013 report by AARP on employment issues, among workers aged 45+ who had not yet retired, only 12% indicated that they had postponed plans to retire in 2013. (p. 1) Comparing the current survey results to data from 2009, "more respondents said they had not postponed their plans to retire (67% in 2013 vs 56% in 2009)." (p. 6)

According to a 2013 report by AARP on employment issues, confidence in job stability has increased with "approximately 3/4 of those ages 45+" saying that "it is not very or not at all likely that their job could be eliminated within the next year". This response was given by 49% of those surveyed in 2013 vs. 39% in 2009. (p. 7)

According to a 2013 report by AARP on employment issues, of the 1,019 adults age 45+ surveyed, among those who retired in the past year only 6% of respondents reported that they returned to work after retiring. (p. 7)

According to a 2013 analysis of data from the Social Security Administration, "the full retirement rate is consistently higher for workers with lower earnings...about 50 percent of 60 year olds in the bottom earnings quintile are fully retired by age 60." (p. 11)

According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research, "more individuals who say their health is an important factor in their decision about when to retire expect to work during retirement than do those who do not consider their health an important factor (38% vs. 15%). Similarly, those who consider their ability to do their jobs an important factor in their decision about when to retire expect to work during retirement more often than those who do not (38% vs. 19%)". (p.3)

According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research, among Americans age 50 and older "who are working and not yet retired, 47% say it is very likely that they will do some work for pay during their retirement and another 35% say it is somewhat likely". (p.2)

According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research, "among those who are retired, a third (33%) report that they did not feel they had a choice except to retire. Feeling like retirement was not by choice is more common among younger retirees, with 54% of retirees under age 65 feeling they had no choice but to retire compared with 23% of retirees 65 or over". (p.2)

According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research, of those who report that financial need is not an important factor in their retirement plans, "58% say it is unlikely they will work after retirement compared with 28% of those who do consider financial need a factor in their retirement decision. Similarly, 46% of individuals who say that employer-sponsored benefits are not an important factor in their decision on when to retire report that they are unlikely to work during retirement, compared with 29% for whom employer benefits are an important factor in their retirement decision". (p.2)

According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research, "57% of retirees under age 65 report feeling they had no choice to retire compared with 23% of retirees 65 or over". (p.3)

According to a 2013 survey by the Associated Press-NORC Center for Public Affairs Research, "74% of Americans age 50 and older state that they have given their retirement years some or a great deal of thought. Financial need is the most commonly cited factor in deciding when to retire (69%). Majorities also cite their health (65%), the need for benefits through an employer such as health insurance (61%), ability to do the job (58%), and job satisfaction (54%) as extremely or very important factors in their decision. Wanting more free time and the retirement plans of spouses and partners are viewed as less important factors (with 38 and 37% respectively designated as very or extremely important)." (p.7)

According to a 2013 analysis of data from EBRI's Retirement Confidence survey, "One in three workers expect to retire at age 70 or never retire; 7 in 10 retirees retired before age 65" (p. 30). "Three in 10 workers report their expected retirement age has changed in the past year; among these workers, the large majority expect to retire later." (p. 31)

According to a 2013 MetLife study, the average Generation X member (Americans born 1965 to 1976) "wants to retire by about age 62, but they doubt they will be able to retire until they are 67." (p.5)

According to a 2013 Gallup survey, "37% of nonretired Americans say they expect to retire after age 65, 26% at age 65, and 26% before age 65. The most notable change over time is the increase in those expecting to work past age 65 -- the 37% this year is up from 22% a decade ago and 14% in 1995. Meanwhile, the percentage of nonretirees who say they expect to retire before age 65 has declined to 26% from 49% in 1995."

According to a 2013 Gallup survey, "the average age that current U.S. retirees said they retired is now 61, compared with 59 in 2003 and 57 in 1993. "

According to a 2013 MetLife survey of the oldest baby boomers (those born in 1946), among the oldest boomers, 52% are fully retired... 21% are working fulltime and just 12% are retired but working part-time or seasonally. Very few (2%) of the oldest Boomers are employed part-time. (p. 7)

According to a 2013 MetLife survey of the oldest baby boomers (those born in 1946), "nearly a quarter of retired oldest Boomers left the workforce between the ages of 56 and 60. Nearly 20% retired at age 65. The average age of retirement is 59.5." (p. 8)

According to a 2013 MetLife survey of the oldest baby boomers (those born in 1946), "when asked why retired oldest Boomers left the workforce, nearly four in 10 cited the fact that they reached retirement age and they just wanted to retire as the primary reason. Just 17% reported health as the main incentive for retirement. Significantly more gave being laid off or unable to find work as the basis for their retirement in 2012 (10%) than in 2011 (6%)." (p. 9)

According to a 2013 MetLife survey of the oldest baby boomers (those born in 1946), "of currently retired oldest Boomers, more than half (54%) left the workforce earlier than planned. Of those who retired earlier than expected, more did so for negative reasons than positive incentives. Health was the biggest motivation (32%) and a quarter left the workforce early due to the loss of a job. Fewer than one in 10 retired early because they had adequate retirement resources or other reasons." (p.10)

According to a 2013 MetLife survey of the oldest baby boomers (those born in 1946), "few reported actually retiring later than expected (8%). The primary push to work longer for those who retired later than planned was the need for the salary (30%). Yet just over a quarter (26%) did keep working because they enjoyed it and wanted to stay active." (p. 10)

According to the 2012 CareerBuilder survey of workers aged 60-plus, "when asked how soon they think they can retire from their current job, more than one-in-ten (12 %) respondents said they don't think they'll ever be able to retire." About one quarter (27%) expect to retire in 1-2 years, one fifth (20%) expect to do to in 3-4 years, and another quarter with 5-6 years (27%).

According to the 2012 CareerBuilder survey, "60 percent of workers age 60-plus surveyed said they would look for a new job after retiring from their current company, up from 57 percent last year."

According to a 2012 Conference Board survey, "almost one fifth of respondents say that between 31 and 50 percent of their workers are within five years of their organization's average retirement age. Another 34 percent put the figure at between 16 and 30 percent. Additionally, almost another third of the respondents say that between 5 and 15 percent of their workforce is already over the organization's average retirement age." (p. 1)

According to a 2012 AARP analysis of BLS and CPS data, "most older people who are out of the labor force say that they do not want a job (97 percent in December, 2012, a figure that has shown little fluctuation since the recession began)." (p. 6)

According to a 2013 analysis of Social Security data, "about half of the increase in the share of people age 62 or older who participated in the labor force during the 2000s can be attributed to the increase in the FRA [Social Security Full Retirement Age]."

According to a 2013 analysis of data from the Health and Retirement Study,"individuals without access to retiree health insurance at work are 7.5 percentage points more likely to retire soon after their 65th birthdays and are 5.8 percentage points less likely to delay retirement until the [Social Security] Full Retirement Age than those with that insurance." (p. 1)

According to a 2012 analysis of data from the Health and Retirement Study,"long-distance relocations were uncommon following full-time career employment, as less than one in twenty career workers moved to a new Census Division. Moves that involved a change in area or change in residence, however, were much more common, with a frequency at the time of transition from career employment of about 9 percent and 15 percent, respectively. The frequency of moves was similar for those who took bridge jobs and those who exited directly." (p. 19)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "while few (8%) retired later than planned, the main reason for this was the need for salary to pay for day-to-day expenses (27%), followed by the desire to remain active/enjoy working (13%), and the need to save more toward retirement (11%)." (p. 8)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "of those who have already retired, half (51%) report they retired earlier than they had expected. Another 8% said they retired later than planned. The remaining retired as planned. More women than men reported an earlier retirement (57% versus 43% respectively). The reason most retirees gave for why they decided to retire early was health-related (37%), followed by a loss of job (16%). Four in ten retirees said they retired early for 'other' reasons." (p. 8)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, among those still working, 61% report that the age they plan to retire has not changed from that of their planned age one year ago... A third (32%), however, have changed their plans to a later date. This is primarily due to the need to continue receiving a salary to pay for day-to-day expenses, as reported by 27% of respondents. Another 24% report that they enjoy working or want to stay active. Of the few (7%) who now plan to retire earlier than they did one year ago, 23% attribute this to health reasons." (p. 7)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "almost half (46%) retired within the past few years, when they were age 62 or older. Just over a quarter (27%) retired between the ages of 56 and 61. Twenty percent retired at age 62. Just over a third (36%) of retirees say the reason they retired was because they reached retirement age and wanted to. Another 18% cited health reasons." (p. 7)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "among those currently working, just over half anticipate being able to retire before they turn 70 years old. In fact, 37% believe they will be able to retire within the next year (2012). On average, these respondents believe they will be able to retire by age 68.5. Between 2008 and 2011, the average planned retirement age among those still working increased by more than two years from 66.3 in 2008." (p. 6)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "almost four in 10 respondents (37%) who retired earlier than they had planned cite health-related reasons for doing so, while another 16% cite loss of a job or job opportunities. Those who retired later than they had planned mention needing a salary to pay for day-to-day expenses (27%) and a desire to stay active (13%) as the reasons for delaying retirement." (p. 3)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "of those who have not yet retired, 61% plan to retire at the same time as they planned one year ago. On average, Boomers who have not yet retired plan to do so by age 68.5." (p. 3)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "almost one-half (45%) of 65-year-old Boomers are now fully retired (up from 19% in 2008), with another 14% reporting that they are retired but working part-time or seasonally." (p. 3)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, "of those still working, over one-third anticipated that they will retire within the coming year, when they turn 66 and are eligible for full Social Security retirement benefits." (p. 2)

According to a 2012 survey of Baby Boomers born in 1946 who turned 65 in 2011, among those "who stated that they were fully retired, the average age at retirement for these Boomers was 59.7 for men and 57.2 for women." (p. 2)

According to a 2012 Metlife report on a survey of Baby Boomers born in 1946 who turned 65 in 2011, "almost twice as many...stated that they were fully retired as were working full-time at age 65 (45% versus 24% respectively)." (p. 2)

According to a 2012 Metlife report, "more than one in three (35%) Boomers say that as a result of current economic conditions they plan to postpone retirement. For many employees, concerns about outliving their retirement money (50%), and needing to continue to work through retirement years (46%), combined with doubts about the long-term viability of Social Security and Medicare (75%), leads to significant worries about having enough steady income in retirement to meet expenses (52%)...One in four Older Boomers is now significantly behind in saving for retirement." (p. 48)

According to a 2012 global workforce survey of 32,000 workers worldwide, among full-time employees in large and mid-size organizations, "thirty-nine percent expect to retire somewhat or much later than planned." (p. 2)

Among U.S. respondents to a 2012 global survey of workers and retirees, “whereas a majority (54%) of the current generation of retirees moved straight from working life into full retirement, the majority of current employees (60%) expect to keep working in some manner beyond their retirement age.  US employees are leading this trend, with only 18% expecting to stop working immediately when they reach retirement age.”  Among the US retirees in this survey, "63% stopped working completely at retirement age." (p. 4, 15)

(p. 15)

According to a 2010 analysis of Health and Retirement Study data, "men born 1933 to 1937 retired much earlier, on average, than those born 20 years earlier. The trend reversed 10 years later. The median retirement age for men was about one-half year higher in the 1943-47 birth cohort than in the 1933-37 cohort (62 vs. 61.5), but differences were more pronounced at older ages. By age 65, for example, 40 percent of early boomer men had not yet retired, compared with only 20 percent of Silent Generation men."

According to a 2010 analysis of Health and Retirement Study data, "age-65 retirements have become much less common over the past 30 years, especially for men. The probability of retiring at age 65 among men working at age 64 fell from 56 percent for the 1913-17 birth cohort, to 26 percent for the 1933-37 cohort, to 7 percent for the 1943-47 cohort.

According to a 2010 analysis of Health and Retirement Study data, "among workers born 1913 to 1917 and not yet retired (fully or partially) at age 49, about one-half of men (51.1 percent) and two-fifths of women (60.1 percent) followed the'traditional' route into retirement, moving from full-time or nearly full-time work directly out of the labor force and never returning to work.This share fell to about one-third (34.3 percent of men and 37.4 percent of women) for workers born 20 years later (between 1933 and 1937).

According to a 2010 analysis of Health and Retirement Study data, "about 26 percent of men and 29 percent of women born 1933 to 1937 returned to full-time or nearly full-time employment after fully or partially retiring." (p. 27)

According to a 2010 analysis of Health and Retirement Study data, "62 is now the most common retirement age by far. More than one-fifth of men born 1943 to 47 working at age 61 retired at age 62.While average retirement ages have been creeping up recently and labor force participation rates have surged after age 62, the share of adults retired by age 62 had not fallen much, especially among men.

According to a 2012 report on the Transamerica Retirement Survey, "the majority of workers in their Fifties and Sixties plan to work after they retire, with 52% reporting that they plan to work part-time and about 9% reporting that they plan to work full-time. Fewer than one in five workers (19 percent) do not plan to work after they retire." (p. 21)

According to a 2012 report on the Transamerica Retirement Survey, among workers in their fifties who plan to work after aged 65, 8% say they need health benefits, while 44% say the can't afford to retire and 17% say they need the income. Other reasons including wanting to stay involved (18%) and enjoying what they do (10%). Among workers in their sixties, a somewhat higher proportion report wanting to keep working for enjoyment reasons: 26% say they enjoy what they do while 14% say they want to stay involved. (p. 22)

According to a 2012 analysis of BLS statistics, "most older people who are out of the labor force say that they do not want a job (97 percent in March, a figure that has remained essentially unchanged since the start of the recession). At the start of the recession, 826,000 older non-labor force participants reported wanting a job; by the recession's end in June 2009, that number had risen to 1.2 million.

According to the 2011 Sun-Life Unretirement Index, "as of September 2011, almost two-thirds (61%) of working Americans plan to delay retirement three years or more due to economic factors, a significant rise from the 43% who planned such a delay in December 2008."

According to the 2011 Sun-Life Unretirement Index, when asked at what age they plan to stop working, 20% of American workers stated "never. I think I'll always work in some capacity."

According to a 2012 analysis of data from the Health and Retirement Survey, among workers over the age of 50, "in 2006 (just before the recent recession), 11.2 percent expected to retire at age 70, and by 2010 (after it had officially ended) that had increased to 14.8 percent." (p. 1)

According to a 2012 analysis of data from the Health and Retirement Survey, "in 2008, during the recession, 22.4 percent of the workers age 50 or over said they plan to never retire. That declined to 16.3 percent in 2010 after the recession. Over the 2006-2010 period (before, during, and after the recession), another 14-18 percent of workers said they don't know when they will retire." (p. 1)

According to a 2012 analysis of data from the Health and Retirement Survey, "a declining percentage of Americans are expecting to retire at 62 and 65. In 2006, 7.4 percent of people [over the age of 50] said they plan to stop working at 62, but by 2010 it had dropped to 4.9 percent. In 2006, 16.1 percent people expected to retire at 65, but in 2010, 14.6 percent planned to do so. Conversely, expected retirement at 66 has increased from 2.9 percent in 2006 to 4 percent in 2010." (p. 2)

According to a 2011 survey of 400 "boomers" with incomes of at least $50,000, "67% of survey respondents who are not yet retired said they are likely to consider working at least part-time during retirement. Almost half of them said they plan to work 16 to 25 hours per week, and about one-third plan to work 5 to 15 hours per week." (p. 2)

According to a 2011 survey of 400 "boomers" with incomes of at least $50,000, 68% of survey respondents said they plan to work [during retirement] because they want to 'stay busy.' Running a close second is the wish to 'stay intellectually engaged' which was cited by 66% of respondents. Almost half of Boomers said they 'want the sense of fulfillment' they get from working. One in five want to 'keep the community aspect of the workplace.'"(p. 3)

A 2011 analysis of employee retirement data found that when employers offer retirement health insurance, the probability of early retirement increases. "Retiree health coverage has its strongest effects at ages 62 and 63, resulting in a 3.7 percentage point (21.2 percent) increase in the probability of turnover at age 62 and a 5.1 percentage point (32.2 percent) increase in the probability of turnover at age 63; it has a more modest effects for individuals under the age of 62." (p. 1)

According to a 2011 report on retirement trends, "continued employment in something other than the career job...rises to a maximum of 32 percent of the men and 37 percent of the women when the HRS respondents are aged 59 to 69, but still remains significant (more than 20 percent of the sample) even among those aged 67 to 77." (p. 8)

According to a 2011 survey of retirees and pre-retirees conducted by the Harvard School of Public Health, "60% of pre-retirees expect to retire at age 65 or older while 26% of retirees did retire at age 65 or older. Further, more pre-retirees now plan to retire later than they expected to during their 40s as compared to retirees who actually retired later than they expected to during their 40s (39% vs. 12%). There is also a smaller, but still notable, minority of those who have not retired yet who say they never will retire fully (15%)."

According to a 2011 AARP survey of over 1000 working and retired boomers, "working boomers are split between those who can't wait to retire (43%) and those who won't want to stop working (41%); these percentages have been stable for the last 13 years" [since 1998]. (p. 4)

According to a 2011 AARP survey of over 1000 working and retired boomers, "most retired boomers (69%) went directly from full time work to full time retirement. " (p. 7) while 6% worked part-time mainly for the needed income and 11% worked part-time for interest or enjoyment, and 4% started their own business. (p. 47)

According to a 2011 analysis of national health data, workers and famers, "approximately 47% of blue-collar workers aged 65 years and older had arthritis, 58% of service workers, 67% of farm workers, and 51% of white-collar workers had arthritis... Blue-collar workers appeared to be much more likely to retire if they developed arthritis."

According to a 2011 Forbes global survey of executives of 321 large corporations, 16% of companies mentioned redefinement of the retirement age as a priority issue in their diversity/inclusion efforts; 22% foresee this as a concern 3 years from now. (fig. 9, p. 13)

According to a 2011 poll of adults aged 55 and older, "30% of respondents say that they would prefer not to work for pay in retirement, while 65% of respondents say they want to work in some manner during retirement, and 4% are not sure. "(p. 6)

According to a 2011 poll of adults aged 55 and older, "almost two-thirds (65%) say they would ideally like to include some work in retirement. Those age 55-64 are even more likely than those 65+ to say the ideal retirement includes work (77% versus 56%). However, "only 4% say they want full-time work in retirement. A quarter want part-time work, but the biggest response (36%) came from people who want to go back and forth between periods of work and leisure to suit their new lifestyle needs." (p. 6)

According to a 2011 poll of adults aged 55 and older, "nearly half of today's retirees retired earlier than planned, and of those who did, 41% did so because of unexpected health problems and 19% due to loss of employment. 37% retired earlier than planned because they had sufficient financianl resources to retire. Other reason include wanting to spend more time with family (28%), having tolook after a family member or friend (13%), wnating to have more fun (20%) and wanting to pursue a different type of work (5%). " (p. 14)

According to a 2011 MetLife survey of adults ages 50-70, "more than one in four (27%) survey respondents report an off-schedule retirement, that is, they find themselves retiring earlier or later than planned, due to unexpected, and often quite costly, circumstances." (p. 16)

According to a 2011 MetLife survey of adults ages 50-70, among those who are delaying retirement, the length of time varies, but the average anticipated length is over 3.5 years....The top reasons include making up for financial losses (58%), and riding out the current economic situation (53%)." (p. 16)

According to a 2011 MetLife survey of adults ages 50-70, among those who retired earlier than planned, the top reasons were "health reasons (23%) or job stress (19%)...layoffs (22%) or attractive incentive packages (18%). The average number of years-earlier respondents plan to retire is four years. (p. 16)

According to a 2011 survey of over 4000 adults aged 18+, "39 percent of workers plan to work past age 70 or do not plan to retire, 54 percent of workers expect to plan to continue working when they retire, and 40 percent now expect to work longer and retire at an older age since the recession." (p. 9)

According to a 2011 survey of over 4000 adults aged 18+, "over half of workers (54 percent) expect to retire between age 60 and 69. However, more than one-third plan to work past age 70 or never retire. In the last 12 months, 40 percent of workers said they now expect to retire later." (p. 14)

According to a 2011 survey of over 4000 adults aged 18+, half (54%) of workers plan to work after they retire, with 9% planning to work full-time and 44% planning to work in part-time jobs. More than 4 out of 10 (44%) of those workers report that they will work in retirement out of necessity, either because of not having saved enough or can't afford to (34%) or needing health benefits (9%). (p 15)

According to a 2011 survey of over 4000 adults aged 18+, 35% of workers report that that they plan to work after retirement age for non-financial reasons, including wanting to stay involved (19%), enjoying their work (16%), and wanting the income (18%). (p. 15)

According to the 2011 EBRI Retirement Confidence Survey, "the percentage of workers who expect to retire after age 65 has increased over time, from 11 percent in 1991 and 1996 to 20 percent in 2001, 25 percent in 2006, and 36 percent in 2011." (p. 1)

According to the 2011 EBRI Retirement Confidence Survey, twenty-three percent of workers ...say the age at which they expect to retire has changed in the past year. Of those, the vast majority (89 percent) report that their expected retirement age has increased. This means that 20 percent of all workers planned to postpone their retirement in 2011 (down from 25 percent in 2009 and 24 percent in 2010)." (p. 28)

According to the 2011 EBRI Retirement Confidence Survey, "10 percent of workers changing their retirement age in the past year (2 percent of all workers) report they will retire sooner than they had planned, primarily due to poor health or disability." (p. 29)

According to the 2011 EBRI Retirement Confidence Survey, "a large percentage of retirees leave the work force earlier than planned (45 percent in 2011). Many retirees who retired earlier than planned cite negative reasons for leaving the work force before they expected, including health problems or disability (63 percent), changes at their company, such as downsizing or closure (23 percent), and having to care for a spouse or another family member (18 percent). Others say changes in the skills required for their job (8 percent) or other work-related reasons (20 percent) played a role. Some retirees mention positive reasons for retiring early, such as wanting to do something else (25 percent) or being able to afford an early retirement (22 percent), but just 6 percent of the total offer only positive reasons." (p. 29-30)

According to the 2011 EBRI Retirement Confidence Survey, among retirees who have not already worked for pay in retirement ..."just 2 percent say it is very likely they will work for pay some time in the future, and only 8 percent say it is somewhat likely. Instead, virtually all say a return to paid employment is not too (19 percent) or not at all (68 percent) likely. " (p. 31)

According to a 2011 survey of business executives and benefit administrators, 84% of employers surveyed anticipate that their older employees will work longer to extend the benefits of their 401(k) plan. (p. 9)

According to a 2011 global survey of business executives, "executives are overwhelmingly interested in working as long as they can, provided their work is flexible. Around eight out of ten (79%) of executives polled are willing to do so, suggesting a striking appetite for appropriate policies...Just 19% of respondents have no desire to work past their official retirement age." (p. 4)

According to a 2010 analysis of retirement survey data, when workers were asked how they might respond to the economic downturn, about 32 percent of respondents reported that they plan to work longer, while 10 percent reported that they have increased or intend to increase their savings [contributions to retirement plans]; 8 percent reported that they will take both actions, and 50% plan to do neither of those actions. (fig. 1, p. 1)

According to the 2010 Towers Watson retirement attitudes survey,health care coverage and costs are the most-cited reasons for delayed retirement, expecially among older workers. Over two-thirds (68%) of older workers cite keeping their health care coverage as a reason to delay retirement, while 62% cite the higher cost of health care. (fig. 11, p. 6)

According to the 2010 Towers Watson retirement attitudes survey, comparing the findings from 2009 to 2010, "the number of employees who are planning to retire later has grown by six percentage points. This change is consistent acress all age groups." (fig. 8, p. 5)

According to a 2010 Careerbuilder survey of 500 workers aged 60+ , 65 percent said they are "putting off retirement because they can't afford to retire financially; down from 72 percent who said the same last year."

According to a 2010 Careerbuilder survey of 500 workers aged 60+, "More than one-in-four (28 percent) mature workers age 60 plus plan to retire within the next two years, while 27 percent are planning to retire in three to four years, and 18 percent in the next five to six years. Sixteen percent estimate it will be seven years or more before they can stop working, while one-in-ten workers (10 percent) don't think they'll ever be able to retire."

According to a 2010 Careerbuilder survey of 500 workers aged 60+, "the primary drivers for postponing retirement are financial restraints, as indicated by 65 percent of respondents, and the need for health insurance and other benefits, as indicated by 58 percent of respondents. However, mature workers are staying on board at their companies for a variety of other reasons, including: enjoy their job (39 percent); enjoy where they work (36 percent); fear retirement may just be boring (26 percent); enjoy feeling needed (14 percent)."

According to a 2010 study of unemployed adults who were looking for work, "older workers (73%) say they have changed how they envision their near future as a result of the recession. More than one-quarter (27%) will retire early because of their unemployment experience, thus showing who will be involuntarily unemployed because of the economic situation. Forty-six percent of panelists age 50 and above say that their unemployment experience during the Great Recession has caused them to think about retiring later than they had originally planned. About the same number (41%) intend to take their Social Security benefits as soon as they are eligible." (p. 14)

According to a 2010 analysis of data from the Health and Retirement Study, "at age 50 men can expect to spend half of their remaining lives working for pay, while women can expect to spend just one-third. Half of all men and women have left the labor force by ages 63 and 61, respectively. Although the majority of retirement exits are final,... about a third of men's and women's exits are reversed." (p. 893)

According to a 2010 AARP survey of adults who will turn 65 in 2011, "over half (54%) are already retired. Among the 31% who are employed full or part time, over one-third (35%) say thay have retired from a previous career. Almost half of those still remployed say they intend to quite work as soon as they can, while 40% to not plan to stop working....29% of respondants who were currently working at age 65 say that they expect to retire at age 70."(p. 12)

According to the 2010 MetLife report on emplyee benefit trends, "59% of employees surveyed now say they plan to work past age 65, up from 53% a year ago.Younger Boomers have made the biggest change to their plans with 60% saying that they now expect to work past age 65, compared with 49% who thought this a year ago." (p. 55-56)

According to a 2010 analysis of data from the National Study of the Changing Workforce, "fully three quarters (75%) of respondents who are 50 or older and who have never retired indicate that they expect to work during retirement, i.e., after they retire from their main job, career or line of work."

According to a 2010 Gallup poll, "more than a third [34%]of nonretirees today say... they will retire after age 65, compared with 12% in 1995." The percentage saying they will retire before age 65 is now 29%, while 27% say they will retire at 65.

According to the 2010 MetLife Retirement Readiness Index, "there is a fairly even split between those who plan to retire at the same time as planned/expected (47%) and those who plan to retire later than planned/expected (46%). As expected, the older the respondent the fewer years there are before anticipated retirement. However, this trend slightly increases for the 65- to 70-year-olds who are still employed, indicating that those continuing to work past traditional retirement age plan to continue to do so for some time. Of those who already retired, 64% reported they retired earlier than expected, while 33% retired at the same time as expected. Three percent reported they retired later than expected." (p. 4)

According to the 2010 MetLife Retirement Readiness Index, "over half (54%) of the respondents formulated ideas about how much they would like to work in retirement, and decided whether to fully retire, or to work part-time in retirement (53%). Three in 10 (31%) of respondents have explored what employment possibilities are available if they want to keep working full- or part-time in retirement. Similarly, one-third (34%) have looked into alternate career or part-time work opportunities for themselves in retirement." (p. 10)

According to the 2010 MetLife Retirement Readiness Index, "over half (54%) of the respondents have determined the proper balance between work and leisure time if forced to choose between the two. Similarly, the majority (51%) also say that they have identified their personal goals in retirement." (p. 13)

According to the 2010 MetLife Retirement Readiness Index, "forty-six percent have considered the importance of relationships with co-workers in making the decision to retire, and 45% have considered how various aspects of their retirement might positively or negatively affect the relationships with family and friends." (p. 15)

According to a 2008 survey of recent retirees, "retirees are most likely to say that being able to work seasonally or on a contract basis (38 percent) or to work part time instead of full time (36 percent) would have been extremely or very effective in encouraging them to delay their retirement. Thirty percent each feel that being able to take time off for extended periods and being able to work a compressed work week would have been effective, and almost as many believe a telecommuting option (28 percent) and receiving additional paid time off (27 percent) would have been successful. Fewer think that being able to shift their work hours from week to week (20 percent) or being able to take a paid sabbatical (19 percent) would have encouraged them to delay their retirement." (fig. 10, p. 13)

According to a 2010 survey by The Hartford and ComPsych, "more than 80 percent of Baby Boomers said they feel moderate to high levels of stress related to the care or support they are giving to children, spouses and/or parents...In addition, nearly half of young Baby Boomers surveyed (46.6 percent) reported feeling worried about how caregiving is impacting their job. It was their No. 1 concern, while older Baby Boomers, who are 55 and older, were most concerned about postponing retirement as a result of their role as caregiver."

According to a 2010 report from the Economic Policy Institute, "the official U.S. retirement age, which was 65.8 years [in 2007], was significantly higher than the OECD averages of 63.5 years for men and 62.3 years for women. ... Twenty-six of the 30 OECD countries have official retirement ages of 65 or younger. Only Ireland, with an official retirement age of 66, and Iceland and Norway, at 67, ranked slightly above the U.S. at the time these data were collected."

According to a 2010 report from MetLife and the American Society on Aging, although "more than half (51%) of the comparison group and 45% of the LGBT respondents saying they would like to retire before age 65....only 23% of the general population and 22% of the LGBT population expect to retire before age 65, and 40% (general population) to 48% (LGBT sample) think they would be at least 70 before they can retire." (p. 6)

According to a 2010 report from the Center for Retirement Research, "about 40 percent [of over 1300 survey respondents] expect to retire later than they had before the downturn, with most of those who intend to work longer delaying retirement by four or more years." (p. 3)

According to the 2010 Retirement Confidence Survey, "the percentage of workers who expect to retire after age 65 has increased over time, from 11 percent in 1991 to 14 percent in 1995, 19 percent in 2000, 24 percent in 2005, and 33 percent in 2010." (p. 1)

According to a 2010 CareerBuilder survey of over 2700 human resource professionals, "30 percent of employers report they have received requests from workers approaching retirement age to stay on with their company, up from 22 percent last year."

According to a 2009 MetLife survey of 240 large employers, "one-third of employers (35%) have considered, but rejected, offering financial incentives for employees to encourage them to delay retirement. One-third (35%) have also considered, but rejected, providing financial incentives to help employees retire at a younger age than the traditional retirement age." (p. 18)

According to a 2009 MetLife survey of 240 large employers, "nearly four in ten (38%) companies offer post-retirement benefits... Among those companies that offer post-retirement benefits, more than one-third (38%) say they have no impact on employees' retirement decisions, 30% believe they encourage older employees to delay retirement, and 32% believe they encourage older employees to retire. At the same time, four in ten (42%) employers concerned about the knowledge drain -- and 38% of all employers who offer post-retirement benefits -- see no connection between post-retirement benefits and an older employee's decision when to retire." (p. 22)

According to a 2009 MetLife survey of 240 large employers, "seven in ten employers (71%) concerned primarily with employees remaining in the workforce -- whether today or in three-to-five years -- say that delayed retirement has a moderate or major negative impact on the bottom line. Employers concerned primarily about the knowledge drain -- whether today or in the next three-to-five years -- agree (71%). (p. 11)

According to a 2009 MetLife survey of 240 large employers, "87% of employers who are concerned about the impact of delayed retirement say employees are primarily working longer to rebuild their retirement nest eggs in light of the recent economic downturn. Other reasons employers cited for why their workers are working beyond traditional retirement include: wanting to work long enough to qualify for Social Security benefits (67%), needing income to meet their day-to-day expenses/pay their bills (63%) and wanting to maintain medical coverage until they qualify for Medicare (41%). Only 41% of employers believe their employees stay in the workforce for social reasons -- i.e., 24% of employers believe their employees enjoy the mental stimulation of work, 12% believe they want to maintain social contact and only 5% say their workers appreciate feeling needed for an assignment." (p. 22)

According to a 2009 MetLife survey of 240 large employers, "of employers who offer post-retiree benefits, almost four in ten (38%) believe that employee benefits have no role in older employees' decisions as to when to retire, 30% believe they encourage older employees to delay retirement, and 32% believe they encourage older employees to retire." (p. 5)

According to a 2009 MetLife survey of 240 large employers, "63% of employers say workers have retired at the age anticipated over the past year -- and 69% believe that workers will retire at older ages going forward. In fact, by 2014, most employers believe that their older workers will, on average, retire four years later -- at 67 years old, versus the average of 63 years old today." (p. 8)

According to a 2009 analysis of data from the Current Population Survey, "among individuals with total income in the highest 25% among all persons aged 65 and older--those with 2008 income of more than $33,677--38% of total income came from earnings, 23% of income came from pensions, 17% of income came from assets, 20% of income came from Social Security, less than 1% of income came from public assistance, and 2% came from other sources. Thus, among elderly individuals in the highest income quartile, 78% of total income came from earnings, pensions, and assets." (p. 6)

According to a 2008 report on a survey from the Society of Actuaries, among the respondents who were retired, "half retired before age 60 (52%), while only one in ten of the respondents who were pre-retirees currently in the workforce expect to retire prior to age 60 (10%). The largest share of pre-retirees in the workforce report they plan to retire at or after age 65 (36%). Among those in the workforce, nearly three in ten pre-retirees say retirement does not apply to them--in other words, they expect to never retire (28%)." (p. 14)

According to a 2008 report on a survey from the Society of Actuaries, respondents who were "pre-retirees are more likely than retirees to respond that a three-year delay in retirement would make their retirement finances a lot more or a little more secure (68% vs. 45% of retirees). Half of retirees feel delayed retirement would have made them no more secure (51%), while three in ten pre-retirees feel the same (30%)." (p. 12)

According to a 2009 study conducted by the Sloan Center on Aging and Work, "approximately three-fourths of all employers surveyed (77%) stated that they have not analyzed projections about the retirement rates of their employees (either "not at all" or "to a limited extent")." (fig. 3, p. 8)

According to a 2009 study conducted by the Sloan Center on Aging and Work, "organizations in the two groups of employers who anticipated that the aging of the workforce will have a high negative impact on their organizations (the age pressured group and age/economically pressured group) were more likely to have projected the retirement rates "to a moderate/great extent" than organizations anticipating limited negative impact of the aging of the workforce". (fig. 5, p. 9)

According to the 2009 Sun-Life Unretirement Index, the most popular reason for continuing to work past the age of 67 is "to earn enough money to live well," cited by 84 percent of respondents. Subsequent reasons remain "staying mentally engaged" (81%), "I love my career" (65%), and "for health care benefits" (63%). In addition, 58 percent of respondents are planning to work past age 67 because they don't believe social security will be available - an 11 percent increase in the last year. (p. 2)

According to the 2009 Sun-Life Unretirement Index, "65 percent of American workers will delay their retirement by at least one year -- an 11 percent increase since the end of 2008. The Index also indicates 27 percent of Americans now believe they will need to work at least five years longer than expected because of the current economic environment." (p. 1)

According to the 2009 Sun-Life Unretirement Index, "fifty-five percent of those surveyed say they will work full- or part-time at 67, and another new high of 28 percent of US workers across all age groups are planning to work full time past the age of 67." (p. 1)

According to a 2009 Metlife survey of workers and job seekers aged 55-70, "fifty percent of the respondents say that within the past two years they have changed their minds about when they will retire--and now it is later than originally expected. Forty-four percent, however, have not changed their retirement expectations, while only 6% plan to retire earlier than expected. (p. 5)

According to a 2009 Metlife survey of workers and job seekers aged 55-70, "Among those who expect to stop working for pay later than expected, two-thirds (67%) say they need to do so to recover/rebuild financial resources for retirement and slightly more than four in 10 (44%) expect to stop working three to five years later than originally planned. (p. 5)

According to a 2009 report from the U.S. Census Bureau, "Nationally, 37.8 percent of 65-and-older workers worked full-time, year-round in 2008." (p. 2)

In a 2009 Watson Wyatt survey of HR executives, "79% of respondents expect to see a large permanent increase in employees working past their desired retirement age." (p. 2)

In a 2009 survey of 2000 job seekers over age 55, "four-out-of-ten older workers surveyed (45 percent) planned to be retired by this time in their lives; 38 percent had retired but now they need to go back to work. Ninety-two percent see themselves continuing to work in the next five years because they need the money and/or they like to stay active. Only eight percent see themselves being retired for good within the next five years." (p. 3)

According to a 2009 analysis of US Current Population Survey data, "68% of men and 73% of women who began receiving Social Security retired-worker benefits in 2007 applied for benefits before age 65." (p. 11)

In a 2009 report comparing responses of HR managers in US state agencies to those of private for-profit and non-profit organizations, "30.6% of the agencies stated that they had adopted strategies to encourage late-career employees to work past the normal retirement age to a "moderate" or "great" extent. The private sector was more likely to report both having no strategy to encourage late-career employees to work past retirement and having adopted such strategies to a great extent." (fig. 11, p. 24)

According to a 2009 Pew survey, among the respondents "nearing retirement age--ages 50 to 61--a 63% majority think they might have to delay retirement because of the recession.Women in this retirement "threshold generation" have been most affected by the ailing economy. Fully 72% fear they will have to postpone their retirement plans, compared with 54% of men in this age group." (p. 20)

According to a 2009 Pew survey, "only about half (51%) of all current retirees say they retired because they wanted to. About a third (32%) say they had to retire for health or other reasons, and about one-in-ten (9%) say their employer forced them to retire." (p. 5)

In a 2009 multigenerational survey of retirement plans, "on average, pre-retirees say they now intend to postpone their retirement by 4.2 years, triggered by today's economic crisis," with boomers reporting 3.6 years postponement, gen X'ers 5.0 years, and Millenials 4.7 years. Silent generation respondents expect to postpone retirement by 1.9 years. (fig. 7. p. 6)

According to a 2009 Pew survey, "a majority of working adults 65 and older are uncertain about when--if at all--they will retire. About a third (33%) say they plan to retire someday, and these working older Americans say, on average, they plan to retire when they are 73. But an additional 31% plan to never stop working, and 27% say they aren't sure when, if ever, they will retire." (p. 90)

According to a 2009 Pew survey, "the likelihood that a person is retired and out of the labor force increases substantially with age. Overall, about two-thirds of adults ages 65-74 say they are retired and not working, compared with 85% of those ages 75 and older. Similarly, adults ages 65-74 are more than twice as likely to be employed, either part time or full time, as are those 75 and older (33% vs. 15%)." (p. 88)

According to a 2009 Pew survey, "some 11% of all adults ages 65 and older say they are not retired. As a group, nearly four-in-ten of these non-retirees (or 4% of the total population that is 65 and older) report that they are working full time; 23% say they have part-time jobs; and 37% say they are job hunting....Nearly one-in-four older adults remains in the workforce after turning 65." (p. 87)

According to a 2009 Pew survey, "83% of all adults 65 and older say they are retired--a group that includes some who work at least part time--while 5% describe themselves as semi-retired. The typical retiree is 75 years old and retired at the age of 62. Among those who say they have retired, more than six-in-ten (62%) retired by age 65. Older adults who have not yet retired but expect to do so someday are, on average, 70 years old and plan to retire in three years." (p. 89)

According to a 2009 Pew survey, "among adults 65 and older, nearly identical proportions of men (75%) and women (76%) are retired and not working. About three-quarters of whites (76%) and an identical proportion of blacks are fully retired, while roughly equal proportions of each group are working. When it comes to having a full-time job, men are slightly more likely than women to be employed (9% vs. 4%). Women, meanwhile, are slightly more likely to say they are not retired but are looking for work (6% vs. 3%). (p. 88)

According to a 2009 survey of 1000 U.S. adults, "Boomers showed the most pronounced increase in their level of worry about the future -- more than two-thirds (67 percent) describe themselves as being concerned about having enough money for retirement. This marks a 16 percent increase from 2008...and a 38 percent increase in the number of Boomers who think they will never be able to fully retire." (p. 4)

According to a 2009 survey of employees and retirees, "among the reasons for postponing retirement, 76% of workers aged 50-64 say the decline in the value of their 401(k) plans is a key reason. Other reasons include: the high cost of health care (63%), higher prices for basic necessities (62%), need to keep health care coverage (56%), and desire to work as long as physically able (40%). (p. 6)

According to a 2009 survey of 1000 U.S. adults, "fewer than one in three Americans expect to be able to fully retire, according to the study. This number represents a decline, from 39 percent in 2008 to 32 percent this year -- a decrease of 18 percent. The number has declined from 41 percent in 2007 -- for an overall decrease of 22 percent." (p. 3)

According to a 2009 survey of employees and retirees, "fifty-four percent of workers aged 50 to 64 who plan to postpone retirement say they will work at least three years longer than expected." (p. 2)

According to a 2009 AARP survey of adults ages 45 and older, "seventeen percent of those surveyed said they had postponed plans to retire. Twenty-seven percent of those in the age group approaching retirement age (i.e. those between 55-64) reported postponing plans to retire and about one-fifth (19%) of this age group reported already being retired." (p. 1)

According to a 2009 telephone survey of almost 3000 adults, "working adults who are closer to the traditional retirement age of 65 are even more likely than younger members of the Threshold Generation to have considered delaying their retirement. Some 68% of those ages 57 to 64 say they have thought about delaying retirement, compared with 44% of those ages 50 to 56."

According to a 2009 telephone survey of almost 3000 adults, "just over half of all working adults ages 50 to 64 say they may delay their retirement -- and another 16% say they never expect to stop working."

According to a 2009 telephone survey of almost 3000 adults, "37% of full-time employed adults of all ages say they have thought in the past year about postponing their eventual retirement. This proportion swells to 52% among fulltime workers ages 50 to 64. Members of this so-called "Threshold Generation" are twice as likely as younger workers to say they never plan to retire (16% vs. 8%)."

According to a 2009 telephone survey of almost 3000 adults, among adults ages 50 to 64 who are employed fulltime, "six-in-ten women working full-time in this age group say they have reconsidered when they will retire, compared with slightly less than half of all men (61% vs. 45%)."

In a 2009 survey of adults aged 45 or older, "over 31% of respondents favor raising the earnings cap on wages subject to payroll taxes. More than 27% support expanding funding sources to include federal income and estate taxes. Fewer than 14% favor raising the retirement age, and only 5.5% support reducing benefits for future retirees."

According to a 2009 Pew survey, three-quarters (75%) of adults ages 50-64 say that the nation's current economic problems will make it more difficult for them to afford retirement (harder to meet retirement needs). Two-thirds (67%) of younger adults aged 18-49 and 56% of older 65 and older adults share the same concern. (p. 1)

According to a 2009 Pew survey, among the 'Threshold Generation' -- Americans ages 50 to 64 who are at or near the peak of their earnings potential and net worth -- "nearly half (46%) of 50 to 64 year olds who are not yet retired say that in the past year they've considered delaying their eventual retirement," a higher share than says the same within any other age group." (p. 10)

According to a 2009 analysis of HRS data, "less than half (46 percent) of workers employed fulltime at ages 51 to 55 ever cite retirement as the principal reason for leaving a job by ages 65-69." (p. 12)

According to a 2008 AARP survey, "if the economy does not improve significantly, over six in ten workers at least 45 years old say it is likely they will spend less in retirement (69%), as well as delay retirement and work longer (65%). Far fewer (37%) say it is likely they will save more for retirement." (p. i)

According to a 2009 analysis of HRS data, "one in four adults ages 51 to 55 who left their 1992 jobs said they were retiring. More than 3 in 10 retirees took new jobs and nearly two-thirds of these job changers moved into new occupations." (p. x)

According to the 2009 Retirement Confidence Survey, "the percentage of workers planning to work after they retire has increased to 72 percent in 2009 (up from 66 percent in 2007 and 63 percent in 2008). This compares with 34 percent of retirees who report they actually worked for pay at some time during their retirement." (p. 2)

According to the 2009 Retirement Confidence Survey, "twenty-eight percent of workers say the age at which they expect to retire has changed in the past year. Of those, the vast majority (89 percent) say that they have postponed retirement with the intention of increasing their financial security. Nevertheless, the median (mid-point) worker expects to retire at age 65, with 21 percent planning to push on into their 70s. The median retiree actually retired at age 62, and 47 percent of retirees say they retired sooner than planned." (p. 2)

A 2008 analysis of CPS data by the Center for Retirement Research found that "in 1982, when 63 was the average retirement age (as it is today), 70 percent of male workers aged 58 to 62 had been working full-time for the same employer since age 50. Only 24 percent were working full-time for a new employer. In 2004, in contrast, just 44 percent of men in that age range had been working full-time for the same employer since age 50, while 48 percent were working full-time for a new employer." (Fig. 7, p. 13)

According to a 2009 analysis of BLS data, "older adults are already working longer than they used to. Between 1998 and 2008, the share of men age 65 to 69 in the labor force jumped from 28 percent to 36 percent. The share of women age 65 to 69 in the workforce went up from 18 percent to 26 percent over the same period." (p. 1)

According to the results of a 2007 survey on retirement, "nearly one in four (24%) respondents ages 55 to 75 went back to work after their retirement. Three-fourths (76%) stayed retired and did not re-enter the workforce. A third of those who started working again after retirement have stayed in the workforce, while the majority (65%) have now stopped working." (p. 7)

According to a 2007 analysis of HRS data, "the self-employed report a higher likelihood that they will be working at age 62 or 65, compared with their wage and salary counterparts (58 percent versus 47 percent at age 62 and 42 percent versus 24 percent at age 65)." (p. 25)

According to a 2008 analysis of data from the Survey of Income and Program Participation, "Workers could increase their annual income by an average of 5 percent from age 50 onward for one additional year of work and 25 percent for five additional years of work. The additional net wealth from one more year of work, if annuitized at retirement, could increase consumption by 9 percent per year. Five additional years of work could increase annual consumption at retirement by 56 percent per year. Workers in the bottom lifetime earnings quintile could increase annual consumption at retirement by 16 percent with one additional year of work and by 98 percent with five additional years of work." (p. 2)

According to a 2008 AARP survey of older workers, "more older African American workers (79%) than white workers (68%) intend to work for pay during retirement. Among older Hispanic workers, 75% have such expectations." (p. 107)

According to a 2008 analysis of CPS data, men 65 to 69 were about six percentage points less likely to be retired in 2004 than in 1992. " (p. 4)

According to a 2008 analysis of HRS data, "between 1998 and 2004, the fraction of 65 to 67 year old men who were completely retired (working less than 99 hours per year) declined by 3.1 percentage points." The fraction of men aged 65-67 who reported that they are not retired (working 1250 hours per year or more) increased by 3.0 percentage points during the same period.(Table 2, p. 4)

In a 2008 report of a survey of over 9000 Austrailian workers aged 45-64 years, 3010 were not in the labour force. Of these, 1373 (45.6%) had retired prematurely because of a chronic health condition, most commonly a back problem (10.4%), or arthritis and related disorders (8.6%).

In a 2008 telephone interview survey, almost half (48%) of the respondents reported that they plan to be working at least part-time at the age of 67. Of those, 29% plan to be working part-time and 19% plan to be working full-time. (p. 4)

According to a 2008 survey of recent retirees, "three-quarters of retirees (76 percent) report that their ability to afford retirement was an extremely or very important factor in their decision to retire. Two other factors are also mentioned by a majority of retirees as reasons for retiring: their job satisfaction (63 percent extremely or very important) and a desire for more personal or family time (60 percent) . Nearly half (46 percent) say that their own health was an extremely or very important reason for their retirement." (p. 5)

According to a 2008 survey of recent retirees, "many retirees report they would have been open to an approach from their employer asking them to stay longer with the company. Sixty-one percent say they would have viewed the experience positively. Just 10 percent indicate they would have reacted negatively to an approach asking them to delay their retirement." (p. 3)

According to a 2008 survey of recent retirees, "in general, workers begin thinking seriously about retirement not long before they actually retire. Twenty-two percent of the surveyed retirees first began thinking seriously about retiring only six months before they left the company, while another 22 percent began thinking seriously about a year beforehand. Twenty-eight percent started thinking about it 18 months (10 percent) or two years (18 percent) before." (p. 3)

According to a 2008 Pew Research Center survey, the anticipated retirement age among those ages 50 and older is an average of 63.7 compared with 58.8 among those currently ages 18 to 29.

According to a 2008 survey of recent retirees, "while a majority (54 percent) was either extremely, very, or somewhat satisfied with their job at the time they made their decision to retire, a sizable minority (46 percent) indicate they were not too or not at all satisfied." (p. 4)

According to a 2008 survey of recent retirees, "thirty-eight percent report that being able to work seasonally or on a contract basis would have been effective in encouraging them to delay retirement. Among those rating this as one of the top two incentives, more than three-quarters (77 percent) say it might have prompted them to stay two years or more with the company." (p. 3)

According to a 2008 Pew Research Center survey, "the average worker expects to retire at age 61, while the average retiree actually retired at 57.8. (p. 1)

According to a 2008 Gallup survey, "only 11% of small-business owners say they plan to retire and stop working in their businesses in the long run. 40% say "they will continue to work as long as their health allows them to do so...Another 47% say they eventually plan to cut back on the work they do but maintain their involvement in their businesses."

Based on a 2008 analysis of data from the Health and Retirement Study, less than 10% of male wage-and-salary workers making less than $10/hour switched to self-employment, while 18% of workers making $20-$50/hour did so. The trend was the same for female workers, although the difference was not as large. (Fig. 7, p. 6)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, 17% of female full-time career (FTC) workers in self-employment positions in 1992 were still in that position in 2004. 27% of those workers transitioned to a self-employment bridge job, 32% moved to a wage-and-salary job, and 24% left the labor force directly from that FTC job. (Fig. 4, p. 4)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, 11% of male full-time career (FTC) workers in wage-and-salary positions in 1992 were still in that position in 2004. 10% of those workers transitioned to self-employment, 32% moved to a different wage-and-salary job, and 47% left the labor force directly from that FTC job. (Fig. 4, p. 4)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, approximately 19% of male wage-and-salary workers in white-collar, highly-skilled positions transitioned to self-employment, while 5% of workers in blue-collar, not highly-skilled positions did the same. 16% of workers in white collar, not highly-skilled positions transitioned to self-employment, as did 10% of blue collar, high-skilled workers. (Fig. 8, p. 7)

Based on a 2008 analysis of data from the Health and Retirement Study, male and female wage-and-salary workers are less likely to become self-employed if they describe their health as "fair/poor" as opposed to "good" or "excellent." (Fig. 5, p. 5)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, 17% of female full-time career (FTC) workers in wage-and-salary positions in 1992 were still in that position in 2004. 27% of those workers transitioned to self-employment, 32% moved to a different wage-and-salary job, and 24% left the labor force directly from that FTC job. (Fig. 4, p. 4)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, 18% of men and 14% of women in full-time career positions who received inheritances (particularly, large ones) decided to transition to self-employment. The number of men and women without inheritances who transitions to self-employment were 12% and 10%, respectively. (Fig. 9, p. 8)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, "transitions into self employment were relatively common among college-educated men, where 22% who had left a FTC wage-and-salary job transitioned to self employment. Conversely, among wage-and-salary men with less than a college degree, only 10% moved to self employment when they left their FTC job.15% of female wage-and-salary workers with a college degree transitioned to self-employment, while only 9% of non-college-educated women did the same." (Fig. 6, p. 6)

Based on a 2008 analysis of data gathered from the Health and Retirement Study, 23% of male full-time career (FTC) workers in self-employment positions in 1992 were still in that position in 2004. 23% of those workers transitioned to a self-employment bridge job, 32% moved to a wage-and-salary job, and 22% left the labor force directly from that FTC job. (Fig. 4, p. 4)

According to a 2008 analysis of Health and Retirement Study data from 1992-2004, workers aged 63-73 were more likely to be male or female self-employed full-time career (FTC) workers than male or female wage-and-salary workers. More than 60% of self-employed FTC men and women were still working while aged 63-73, while less than 50% of wage-and-salary male and female workers were still working at the same age. (Fig. 2, p. 3)

According to a 2008 report on the impact of a slowing economy by AARP, postponing of plans to retire was reported by 24% of workers aged 45-54, 19% of workers aged 55-64, and 5% of workers 65+ . (Table 2, p. 7)

According to a 2006 MetLife report on caregiving costs, "at least 6 out of 10 employed caregivers reported that they had made some work-related adjustments as a result of their caregiving responsibilities. An estimated 9% of the caregivers who were employed left the workplace as a result of their caregiving responsibilities; 3% took early retirement and 6% left work entirely. An additional 10% of the employed caregivers reduced their hours from full-time to part-time. (p. 5)

According to a 2008 survey of small business owners, "21% of small business owners said at least 5 percent of their workers are ages 60 to 64...compared to 16% last year. And more businesses this year said older workers are delaying retirement; 37% versus 18% in 2007. Only 4% said that some workers would retire before age 65."

In a 2006 survey of more than 3,000 US retirees and preretirees, while "almost half of all respondents expect to work past age 65, only 13 percent of current retirees have done so. Preretirees expect, on average, to work full time until age 67, but the average actual age at retirement is only 59." (paragraph 2)

In a 2006 survey of more than 3,000 US retirees and preretirees, a full 40 percent were forced to stop working earlier than they had planned, largely because of health problems (their own or a family member's) or the loss of a job (Exhibit 1).

In a 2006 survey of more than 3,000 US retirees and preretirees, reasons for unplanned early retirement "vary by wealth level. More than half of the respondents with less than $250,000 in investable assets, for example, cited health problems as the cause of their forced retirement. By contrast, more than two-thirds of the respondents with upward of $1 million in assets identified the loss of a job--through downsizing, for example--as the reason they had to stop working." (Exhibit 2)

According to a 2008 survey of small business, "nearly 37% of those surveyed said their workers ages 60-64 are waiting until later to retire; and their leading reason is they enjoy working, even though they could afford to retire."

According to the 2007 EBRI Retirement Confidence Survey "approximately 4 in 10 retirees leave the work force earlier than planned (37 percent in 2007). Reasons for leaving the workforce earlier than expected include health problems or disability (28 percent), changes at their company, such as downsizing or closure (28 percent), having to care for a spouse or other family member (25 percent), work-related reasons (18 percent) or obsolete skills (13 percent)." (p. 13)

According to the 2007 EBRI Retirement Confidence Survey, "about 4 in 10 workers plan to retire before reaching age 65, 17 percent say they will retire before age 60, and 21 percent plan to retire between the ages of 60 and 64. More than one-quarter of workers say they will retire at age 65 (27 percent), while one-quarter intend to retire at age 66 or even later (24 percent)." (p. 12)

According to a 2002 survey conducted by The Conference Board, approximately one-third of older workers indicated that having access to a telework option would delay their transition into retirement,

A 2008 report of a study evaluating the relationship between health, work environment, and retirement-related job lock finds that "86% of respondents over the age of 55 [who experienced a workplace injury] felt as though they could still keep up with their work and that their health would not prevent them from working." (p. 10)

A 2008 report of a study evaluating the relationship between health, work environment, and retirement-related job lock finds that "over half of all respondents over the age of 55 [who experienced a workplace injury] reported that they would like to leave work altogether but could not due to financial or health benefits constraints (job lock)." (p. 8)

A 2007 analysis of data from the Health and Retirement Survey showed that nearly 50 percent of retirees follow a nontraditional retirement path that involves partial retirement or unretirement, and that 26 percent of retirees later unretire, most commonly about two years after retirement. The unretirement rate is even higher among younger retirees (as high as 35 percent among those retiring at ages 53-54). (p. 28)

In a 2007 study using data from the Health and Retirement study, it was found that retirees in their early 50s are about 20 percent more likely than older retirees to have retired involuntarily.

In a 2005 survey of workers aged 55 or older who experienced a workplace injury and lost at least one day of work, 11% reported intent to retire earlier due to their injury. (p. 291)

Respondents in a 2007 national study of employers reported that "the average retirement age at their company is 59.8 years, and that they expect 10.8% of their employees will retire over the next four years (by 2010)." (p. 4)

A 2007 study based on data from the Health and Retirement study found that 55 percent of older workers (born between 1931and 1941) had accurate expectations about post-retirement work [i.e., expected to work and did work after retirement], compared to 37 percent who expected to work but did not and 8 percent who did not expect to work but did. (Table 3)

According to a 2006 Urban Institute report, "close to 50 percent of workers age 60-64 either want to stop working or change their current work, compared with 30 percent of workers 65-69 and only 15 percent of workers age 70 and older." (p.3)

A 2003 AARP study found that when asked what they plan to do in retirement, nearly 70% of 50-70 years olds who have not yet retired reported that they planned to work in their retirement years or never retire, and almost half indicate they envisioned working into their 70s or beyond. (p.4)

According to a 2007 analysis of the National Study of Business Strategy and Workforce Development, just over a third of the employers (37.0%) stated that they had adopted strategies to encourage late-career employees to work past the normal retirement age to a "moderate" or "great" extent. (p. 17)

According to a 2006 report, "Delayed retirement and work during retirement have become more and more crucial to the income picture of those over 65, with earnings rising from a low of 17 percent in 1988 to 27 percent in 2004." (p.6)

According to a 2005 Congressional Research Service report, "there is a rapid decline of labor force activity as workers reach their late 50s (55-59)--the approximate age when many buy-outs and some private pension plans allow for early retirement. This is reflected in a pronounced drop in labor force participation of just under 9 percentage points (from 80.2% to 71.3%) from what was reported for workers in their early 50s. This drop is followed by a subsequent 10 precentage point drop as workers enter their early 60s, when widow(er)s' Social Security benefits become available. For the age group who are eligible for early retirement (ages 62-64), their is another large decline in labor force participation of over 16 percentage points." (p.5)

"For the purposes of this report, the term worker refers to all participants in the labor market." (p.6)

A study by Moen, Kim, and Hofmeister (2001) found that of their respondents, "Almost one-fifth (17.6%) of married respondents…are currently in jobs subsequent to their primary career job; this fact indicates that the retirement exit is becoming increasingly blurred." (p.60)

A study by Moen and Smith (2004) found that "a female retiree is more than five times more likely to report being satisfied when she reported that her husband was not influential in the retirement decision; conversely, retired husbands who perceived their wives as influential are more likely to report being satisfied [in retirement." (p. 274)

A study by Smith and Moen (2004) found that "when retired husbands perceive their wives as influential, the odds of the husbands reporting retirement satisfaction are more than two times greater than retired husbands with noninfluential wives." (p. 276)

In 2005, 2.2% of the workforce aged 45-54 was retired. In 2005, 20.7% of the workforce aged 55-64 was retired. In 2005, 69.8% of the workforce aged 65-74 was retired. In 2005, 86.5% of the workforce aged 75-84 was retired. In 2005, 90.8% of the workforce aged 85-94 was retired. In 2005, 12.0% of the workforce was retired.

According to a 2001 RAND report, 25 percent of people retiring between ages 50 and 58 cited poor health as an important reason for their retirement decisions, compared with 35 percent of those retiring between ages 59 to 61. (p.35, Table 12)

In a 2005 AARP survey of Americans age 50 and older, 38% expressed interest in the concept phased retirement. In addition, 78% of those surveyed interested in phased retirement stated the availability of such programs would encourage them to work beyond their anticipated retirement age. (p.3)

According to a 2003 AARP report, 53% of the workers aged 50-70 surveyed expect to continue working until the age of 70, and 27% of workers surveyed expect to continue until the age of 80. (p.59)

According to a 2005 AARP survey of adults aged 50 and older, "nearly half (46%) reported that they would like to start phased retirement between 60 and 64. Another 29% would like to start before the age of 60, while 25% would like to start at the age of 65 or later." (p.12)

In a 2003 AARP survey, "63 percent [pre-retirees] state that they plan to work at least part-time in retirement, and an additional 5 percent say that they never expected to retire, suggesting that a full 68% percent of pre-retirees plan to work during a time traditionally reserved for activities other than work." (p.5)

According to a 2005 survey conducted by the AARP, "three in four (75%) [workers 50-65 who plan to work beyond age 65] are working for someone other than themselves, and approximately one-quarter (24%) are either self-employed or an owner or partner in a small business or farm." (p.6)

According to a 2005 AARP survey of adults aged 50 and older, "...one-third (33%) of retirees indicated that they would have remained in the workforce longer if such a phased retirement plan had been offered to them."

According to the 2005 Work-Filled Retirement" survey, "forty-four percent of workers under 35 believe they will be able to leave the full-time labor force by age 60, compared with 31% of those between 35 and 44, 24% of those between 45 and 54, and only 16% of those 55 and up. Slightly more than 15% of workers over the age of 35 believe they will never be able to retire, while the number for those under 35 is 7%." (p.8)

According to the 2005 Work-Filled Retirement survey, "in 2000, 37% of workers said they would choose to retire before age 50 if their finances permitted it. By 2005, this number had dropped to 20%. Most workers still desire to retire from their primary jobs by age 65 (86% in 2000, 89% in 2005), but have a different concept of how close they want to get this cutoff before bowing out of the workforce." (p.7)

According to a 2006 MetLife study, "among older workers, the Working Retired represent 16% of 60-65 year olds and 19% of 66-70 year olds. When we add this segment of workers (i.e., the Working Retired) to those who never left the workforce, the percentage of Americans age 66-70 working or looking for work stands at approximately 37%, compared with nearly 60% of Americans age 60-65 and 78% age 55-59." (p.9)

According to a 2006 MetLife study of adults aged 55-70, "the number one reason for taking retirement benefits cited by workers age 60-65 was 'wanted to try something new and different' (20%). This option was chosen much less frequently by 55-59 year-olds (12%) and by 66-70 year-olds (7%), suggesting that workers in their early 60s, who may be in a transitional period between full-time work and retirement, are particularly eager to seek out new experiences and challenges." (p.10)

According to a 2005 Merrill Lynch survey, “when probed about their ideal work arrangement in retirement, the most common choice among boomers would be to repeatedly “cycle” between periods of work and leisure (42%), followed by part-time work (16%), start their own business (13%) and full-time work (6%). Only 17% hope to never work for pay again.”

According to a 2002 analysis of data from The Conference Board, 28 percent of the older workers who responded said that their desire to 'contribute to society' was a factor in their decision to retire. (p.33)

The 2000 Cornell Retirement and Well-Being Study found that a majority of older Americans (70 percent of men and 69 percent of women) state that the reason they have retired is to 'do other things.' (p.5)

A 2006 analysis of data from the National Study of the Changing Workforce, conducted by the Families and Work Institute, indicates that workers in the 55-64 age group - older workers who are often at a critical point in their lives for making decisions about retirement - are less likely than those over 65 years to feel that options for reducing their work hours are available to them.

A 2000 study by the Cornell Careers Center found that "The most common reason for retiring but continuing to work after retirement is that respondents want a work schedule that allows them the flexibility to do other things, such as travel, or develop other interests (71% gave this reason)." (p.16)

A 2004 Watson Wyatt Worldwide survey of older workers (50-70 years old) found that one-third of the respondents said they would postpone retirement if they were offered phased retirement. (p.1)

According to a 2002 report on data from The Conference Board, nearly half of the respondents to its recent survey stated that "more flexibility in working hours would prevent them from retiring." (p.22).

In a 2005 poll conducted for FORTUNE by TheLadders.com-- a job site for executives earning $100,000-plus a year-- "51% say they plan to keep on working after they retire from their current careers. By contrast, only 16% aspire to the more traditional ideal of dropping out of the workforce entirely."

A 2002 report indicates that only two percent of the respondents to The Conference Board survey listed their caregiving responsibilities as a reason for retiring. (p.21)

According to a 2002 report on a Conference Board survey, Two-thirds (69%) of the older workers responding to the survey who said that they plan to continue to work for at least five years reported that their financial needs strongly affect their decisions about continuing to work. (

p.30)

According to a 2004 analysis by Mulvey, "... the existence of a phased retirement program increases the average retirement age among women by 21 months.  For men, phasing increased average retirement age by about 5 months."(p.16)

According to a 2002 report, the Health Confidence Survey (HCS) found that "...60 percent of workers who expect to receive both retiree benefits and to retire before age 65 would not retire before becoming eligible for Medicare if their former employer or union did not provide retiree health benefits."(p. 2)