Maryland, California, Virginia and other states are recruiting retirees to work in public schools as volunteers and salaried employees, offering boomers what they say they want — meaningful second careers.
From the summary:
The economic burden of an aging population depends partly on older adults’ employment rates, which in turn depend partly on employers’ willingness to hire and retain them. This report reviews the literature on managerial attitudes toward older workers. Although the available evidence is incomplete and sometimes inconsistent, many firms appear to have serious reservations about older workers. Employment prospects may be especially bleak for rank-and-file workers and those with limited skills. Managerial attitudes toward older workers may improve in the future, however, as the population and workforce age.
Source: Patricia Neuman, Michelle Kitchman Strollo, Stuart Guterman, William H. Rogers, Angela Li, Angie Mae C. Rodday, and Dana Gelb Safran, Health Affairs, Vol. 26, no. 5, published online 21 August 2007
A national survey in 2006 found that Part D secured drug coverage for most seniors who were without it in 2005, prior to the Medicare drug benefit. Seniors without drug coverage in 2006 generally fell into two groups: those in relatively good health and those potentially difficult to reach. Compared with seniors covered through employer plans or the Department of Veterans Affairs, Part D enrollees had higher out-of-pocket spending and greater cost-related nonadherence. Low-income subsidies offered protection against high out-of-pocket spending; without them, one-third of Part D enrollees at or below 150 percent of poverty paid more than $100 a month for their medications.
From press release:
As an increasing percentage of older Americans are in the labor force, the trend toward more full-time, full-year work among older workers occurs across virtually every demographic group, according to an article published today by the nonpartisan Employee Benefit Research Institute (EBRI).
These trends mark a significant change in behavior for individuals age 55 and older, the article says, and are likely driven by their need to obtain affordable employment-based health insurance (as opposed to unaffordable or unavailable coverage in the individual market) and the need to continue to accumulate savings in employment-based defined contribution retirement plans.
There is no question that the aging of America will have a profound impact on individuals, families, and U.S. society. The Health and Retirement Study (HRS), sponsored by the National Institute on Aging under a cooperative agreement with the University of Michigan, follows more than 20,000 men and women over 50, offering insight into the changing lives of the older U.S. population. Launched in 1992, this multidisciplinary, longitudinal study has become known as the Nation’s leading resource for data on the combined health and economic conditions of older Americans.
Growing Older in America: The Health & Retirement Study describes the breadth and depth of the HRS to help familiarize a broad range of researchers; policymakers; media; and organizations concerned with health, economics, and aging with this data resource. Published in 2007, this colorful data book describes the HRS’s development and features and offers a snapshot of research findings based on analyses of the Study’s data. Sections of the report look at older adults’ health, work and retirement, income and wealth, and family characteristics and intergenerational transfers. More than 65 figures and tables illustrate the text.
From the intro:
As the baby boom generation anticipates retirement, a growing proportion of older Americans are in fact remaining in the workforce. Labor force participation rates for older women have increased significantly since the mid-1980s, and for older men, since the mid-1990s, according to an updated report from the government’s Federal Forum on Aging-Related Statistics. The labor force statistics are among several updated facts and figures in the Forum’s databook series on aging.
The Forum is comprised of 13 federal departments and agencies which collect, provide, and use data on aging. It produces periodic chartbooks with key statistical indicators about older Americans, presenting data on the overall status of the U.S. population age 65 and over and monitoring changes in these indicators over time. The report is designed to serve policymakers, the media, and the public with an interest in information on the well-being of older Americans.
These newest entries are part of Older Americans Update 2006: Key Indicators of Well-Being and provide updated information on a variety of topics, including labor force participation, leading causes of death, health care use, and other important areas.