Employer Survey: 1 of 4 Boomers Won’t Retire Because They Can’t

Alicia H. MunnellJean-Pierre Aubry Steven A. Sass

WOB#6

Introduction

The Baby Boom generation is now on the cusp of retirement, with the oldest Boomers 60 years old. As this huge generation makes its way out of the labor force, it will do so on much different terms than those offered workers over the past quarter century. The share of earnings replaced at any given age by Social Security and employer plans will be less. And that income stream will also be less secure. Many observers are thus concerned that Boomers will be unprepared for retirement. However, if Boomers can delay retirement, they can raise their retirement income far more than could workers in the past. Working longer has thus emerged as an important option for improving retirement income security…