Retirement
Is Early Retirement Ending?
Research Report
Sophie Korczyk, Ph.D
October 2004
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Are reports of the "end of early retirement" premature?
The trend toward ever earlier retirement may have come to an end, but early retirement remains the norm. Only a minority of workers remain in the labor force after the normal retirement age, although that figure is rising. Older worker surveys and public opinion polls find that 70 to 80 percent of workers expect to work at least part time in retirement.
In 2008, the leading edge of the baby boom will turn 62, the earliest age at which Social Security retirement benefits are available. If the behavior of prior generations is any guide, most will probably claim their benefits before they reach age 65.
While people living longer and generally healthier lives represent major social accomplishments, the combination of early retirement and longer life places strains on the Social Security and employer pension systems. In this AARP Public Policy Institute Issue Paper, Sophie M. Korczyk of Analytical Services reviews recent trends in the labor force participation of - and Social Security benefit receipt by - older persons in the United States and examines a number of policy options designed to encourage prolonged worklives and delayed receipt of Social Security benefits. (61 pages)
Pub ID: 2004-10