Understanding the Aging Workforce Defining a Research Agenda (2022) / Chapter Skim
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1 Introduction
1 Introduction
Pages 9-16
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From page 9... ...
. As members of this cohort have entered conventional retirement ages, they have developed new retirement patterns, with more remaining in or returning to the labor force at older ages, leading to higher rates of labor force participation than in previous generations (U.S.
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The National Academies appointed the Committee on Understanding the Aging Workforce and Employment at Older Ages to carry out this task. Ten prominent scholars representing a broad array of disciplines -- including economics, psychology, organizational psychology, labor relations, sociology, and social work -- were included on the committee.
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From page 11... ...
. Those who work longer in their career job or exit their career job for bridge employment tend to work fewer hours, have a flexible schedule, and receive lower hourly wages (Ameriks et al., 2018)
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. But a host of other policies, addressing retirement savings, paid and unpaid leave to address caregiving responsibilities, subsidies to provide formal care, and retraining may also improve financial resources or opportunities to continue working at older ages.
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Even when considering transitions to retirement, the employment experiences of and opportunities available to workers approaching retirement may differ substantially from those who are well past conventional retirement ages. Thus, in many cases, the relevant definition of "older worker" is dependent on what is meant by "retirement age." Unlike some countries, the United States does not have an officially recognized mandatory retirement age; however, age-based eligibility requirements for older-age programs such as Social Security and Medicare have often served as benchmarks for establishing conventional retirement age (Coile et al., 2019; Gruber and Wise, 1999)
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From page 14... ...
This means that often research on older workers, particularly on those that remain in the labor force beyond traditional retirement ages, is based on population data, such as the HRS, in which the experiences of these well-off adults are well represented but, because less affluent adults are less likely to continue working, those of less affluent workers at these ages are not. This can obscure the work outcomes of less affluent older workers those of whose experiences in the labor force may be substantively different, creating a more positive representation of the effects of work on quality of life that could shift normative expectations about work and retirement at older ages.
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From page 15... ...
It identifies key conclusions that can be drawn from the extant research and proposes a detailed research agenda that, if enacted, would provide a comprehensive understanding of the social and economic role of work at older ages and the barriers older adults face in realizing their preferred work and retirement relationships.
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