Tag: labor force activity
The brief’s key findings are: Labor force activity among older Americans began rising in the mid-1980s due to: changing Social Security incentives; the shift to 401(k) plans; and improving health, longevity, and education. Updated data, however, suggest that these factors may have played themselves out. As a result, the average retirement age has increased only…
Abstract That older people will need to work longer in order to ensure a secure retirement is undeniable. Social Security, the backbone of the retirement system, will not replace as much pre-retirement income in the future as it does today. Employer-sponsored pensions also involve considerably more uncertainty given the shift from defined benefit to 401(k)…
