AARP Reports that Unemployment for Older Workers Not Improving as Recession Peaks

AARP has been tracking how older workers fare as the United States comes out of the recession. Looking at the November 2009 numbers, it found that while unemployment make have peaked, older job seekers saw their unemployment rate, duration of unemployment, involuntary part-time employment rate, and job-seeking discouragement rise. Further, looking at the December 2009 numbers, AARP reported that overall unemployment did not increase, 29,000 more persons aged 55 and over were unemployed in December than in November, bringing the total unemployment rate for this group up to 7.2% from 7.1%.

Sources: AARP Public Policy Institute Fact Sheet (December 2009), Fact Sheet (January 2010)

AARP Issues Report on Job Training for Older Workers in Alabamat

According to AARP, over the past five years, 59% of Alabama workers age 40 and over have participated in job-related skills training or education programs offered to them by an employer, and 86% of them indicate they personally have not had to pay for that training. These are some of the results of a survey commissioned by AARP to gain a deeper understanding of the perspective, skills, and needs of older workers in the state to better provide them with focused, targeted information and resources.

The full report "Job Skills Training and Opportunities: Opinions and Perceptions of Alabama Workers Age 40+", authored by Jennifer H. Sauer and Cassandra Burton, also finds that 86% of older workers are satisfied with the work-related training opportunities offered through their employers, with 60% saying they are extremely or very satisfied, and another 26% indicating they are somewhat satisfied. Looking forward, 51% said they were extremely or very likely to engage in any job training through their employer over the next five years, but 31% said they were not likely to do so. In addition, 52% did not think that additional job training would help them advance in their job or help get a better job.

On worker attitudes towards employment as they get older, the survey reports that, among all Alabama workers and those looking for work, 40% plan to continue working at their current job either full or part-time when they reach retirement age. "For the majority of respondents, needing or wanting additional income (84%), enjoying work (84%), building up a personal savings (79%), and maintaining health coverage for themselves or their families (72%) are major/minor factors in deciding to work beyond retirement."

Source: AARP Knowledge Management Survey Report (October 2009)

AARP Announces 2009 Best Employers for Workers over 50

AARP has announced its annual list of the 50 best employers in the United States for workers 50 and over, and, for the first time one employer--Cornell University--has repeasted as the top finisher.

“AARP is delighted that Cornell has placed first for the second year in a row in the Best Employers program,” said Deborah Russell, AARP’s Director of Workforce Issues. “The university is famed for its creative academic policies and its approach to 50 and over workers is no different. It has continued to innovate with new programs in the past year.”

Among the programs offered by Cornell, noted AARP, are a formal phased retirement program for faculty and staff, telecommuting and compressed work weeks, a retiree health and prescription drug plan heavily subsidized by the university, paid time off for care giving, and access for retirees to continued university education at no charge.

At AARP's Best Employers site, AARP has published its list of the top 10 innovative international employers and, for the first time, a separate hospitals and health care best employers honor roll.

Source: AARP Press Release (September 9, 2009)

Research: Second Careers for Older Workers

AARP's Public Policy Institute has published a research report examining the characteristics of workers who change careers in late life, finding, among other things that later-life career change seems to be an important part of the retirement process. According to "Older Workers on the Move: Recareering in Later Life", authored by Richard W. Johnson, Janette Kawachi, and Eric K. Lewis of The Urban Institute, nearly two-thirds of workers who change jobs (and 27% of all older workers) switch occupations.

Called such career changes "recareering," the study reports that workers who change careers typically move into jobs that pay less and offer fewer benefits. However, the new careers tend to offer more flexible work arrangements, less stressful working conditions, and fewer managerial responsibilities. For workers interested in delaying retirement after long careers, such jobs may be just what they are looking for. In addition, the study finds that late-life occupational change is more common among men because women are less likely to continue working if they leave an employer in their fifties.

The research concludes that later-life career change seems to be an important part of the retirement process. Many changers later in life appear to be pushed into new lines of work involuntarily following job layoffs or business closings. Others, however, appear to place a high premium on leaving 9-5 work and moving into more flexible positions, even at less pay. Some older workers may change careers in hopes of finding more meaningful jobs that give added purpose to their lives.

Source: AARP Public Policy Institute Research Report (May 2009)

AARP Research Report Explores New Means for Transitioning to Retirement

An AARP research report has been published exploring the concern that policies being explored to extend working lives—-and delay the claiming of Social Security benefits—-as a means to ensure workers' retirement security and Social Security's finances may inflict real hardship on some older workers who retire earlier because of health and related problems. Accordingly, in "Employment Support for the Transition to Retirement: Can a New Program Help Older Workers Continue to Work and Protect Those Who Cannot?", David Stapleton of Mathematica Policy Research, Inc., proposes a new program--Employment Support for the Transition to Retirement (ESTR)--that could help “break the deadlock” that stymies efforts to adopt policies that encourage later retirement.

Stapleton's vision of ESTR is that it would provide assistance to workers who experience large involuntary earnings losses as they approach age 62. It would provide a wide range of benefits, tailored to individual need—including wage subsidies and other work supports, health insurance subsidies, disability benefits, extended unemployment benefits, and employment counseling. While not individually new, what is new is the idea of a substantial and coordinated expansion of these elements in the context of retirement policy reform.

Source: AARP Research Report In Brief (April 2009)

Research Study Pushes for Cultural Changes To Increase Workplace Flexibility for Older Workers

An AARP Public Policy Institute Insight on the Issues report focuses on the availability of and barriers to flexible work options, with a particular focus on older workers and phased retirement. According to the Making Work More Flexible: Opportunities and Evidence, prepared by Melissa A. Hardy of The Pennsylvania State University, many employers remain skeptical of flexible work options, despite growing evidence that they can benefit both employers and employees. Among other things, these employers fear that labor costs, output, or administrative efficiency will be unfavorably affected.

Among other things, the report looks at phased retirement, finding that while older workers express considerable interest in scaling back their work hours prior to full retirement, and many analysts and older worker advocates contend that such work options could prolong working life, relatively few workers have access to formal phased retirement options.

Source: AARP Research Report (November 2008)

AARP Study Reports Most Older Works Intend To Work into "Retirement" Years

An AARP survey has found that 70 percent of mature workers plan to work into what they view as their retirement years. Updating a 2002 survey, "Staying Ahead of the Curve 2007: The AARP Work and Career Study" reports that 27% of the 45-75 year olds questioned cited a need for money as the reason for continuing to work, while 21% attributed their decision to work in retirement to the fact that they enjoy working.

The study also reported that 51% of those interviewed said they plan to work part-time in retirement, while 29% do not plan to work. Another 11% plan to start their own business or work for themselves, while 6% plan to work full-time.

Included in the final report is a "Blueprint For Change" section that focuses on creative policies utilized by progressive employers. Among other things, these best practices include flexible schedules and work arrangements, cCompetitive health and other benefits, restructuring jobs or workplaces to accommodate employees’ unique needs later in life, recharging late-career workers with updated training, and utilizing knowledge retention strategies.

Source: AARP Press Release (October 20, 2008)

AARP Announces 2008 Best Employers for Workers Over 50

Cornell University heads the list of AARP's 2008 best employers for workers over 50. According to AARP CEO Bill Novelli, a "diverse group of corporations and not-for-profits are increasingly recognizing the importance of innovative policies as employers seek to retain and recruit experienced workers." In particular, Novelli pointed out that, in the face of rising health care costs, many of the top 50 employers are adopting practices such as health screenings and other wellness programs that will pay off for both the employee and the employer.

With respect to Cornell, the University offers a variety of health-related programs through the year, including health screenings in office buildings on campus, and computerized and in-person health counseling for those enrolled in its Health Program for Healthy Living. Among other things, its wellness program provides access to five fitness centers on campus, an ice skating rink and several swimming pools, along with group fitness and nutrition classes. Other policies include flexible arrangements such as flextime, compressed work weeks and telecommuting; a formal phased retirement program for faculty; a robust retiree health and prescription drug plan heavily subsidized by the university; temporary work assignments for non-faculty retirees; paid time off for care giving, and access for retirees to continued university education at no charge.

In announcing the list of the top 50 employers, AARP also issued a compilation of employer strategies for addressing the issues of an aging workforce. AARP has grouped these best practices exhibited by one or more of its top 50 employers according to recruiting, training, phased retirement, retiree relations, and caregiving programs.

In addition, AARP has identified its top 10 international innovative employers.

Source: AARP Press Release (September 23, 2008)

AARP Survey Explores Plans and Motivations for Michigan Seniors Working Past Retirement.

A survey of AARP residents in Michigan finds that retiring comfortably at age 62 is not a reality for many who expect to work well past the traditional retirement age due to increased longevity and rising health care costs. In particular, 36% work full-time and 9% part-time, and 49% consider it extremely (27%) or very (22%) likely that they will continue working beyond retirement. The most common reasons for continuing to work cited were;

• health insurance coverage (54%);
• enjoy working (45%);
• need for extra income (44%); and
• paying for prescription drugs (41%).

The survey also reports that 50% plan to work part-time and pursue hobbies when they reach the retirement age, while 37% intend to work at their current jobs as long as possible. With respect to when they will retire, 23% think they will retire at age 60-64, 37% at 65-69, and 20% at age 70 or older.

Sources: AARP Research Report (July 2008); Battle Creek (MI) Enquirer "Work at 50-Plus: New age of possibility and purpose" (July 1, 2008)

AARP Adds Federal Agencies as It Expands Its "National Employer Team"

AARP has announced that it has expanded its program connecting 50+ workers with employers who recognize the value of their experience and skills. In growing its "National Employer Team" to 38, AARP added the Internal Revenue Service, the U.S. Small Business Administration Office of Disaster Assistance, and the Peace Corps, becoming the first federal agencies to join the team.

National Employment Team employers undertake a detailed application process to demonstrate their interest in hiring mature workers. AARP’s website provides information on the employers and the positions they have posted on their websites, along with links to each employer’s AARP career page.

Source: AARP News Release (January 17, 2008)

Internet Radio Podcast Series Launced for Jobseekers Age 50 and Over Who Need to Remain Employed

"Job Security 50+ How To Be Employable for Life"--a radio pilot program aimed at jobseekers over the age of 50--has been launched by Jackstreet Media and AARP. The program, cohosted by AARP's Director of Employment Security Deborah Russell and author Anthony Burnham, is designed to serve the needs of mature workers who either want or need to work beyond the traditional age of retirement. The program aims to help older workers stay on top of the skills, insights, and new resources needed to get and keep a good job at 50 and beyond.

Programs are streamed over the computer or can be downloaded to an mp3 player. and may be streamed via computer or downloaded to an mp3 player. Currently, there are monthly programs of around 10 minutes each. For example, the November 1 program was almost 13 minutes long on the topic "Thew New Face of Work in America" and featured James O'Toole, who served as Chairman of the National Task Force on Work in America.

Source: News Release (December 6, 2007)

AARP Creates Workfore Assessment Tool

AARP has announced the creation of a new online tool to help employers assess their current and future workforce needs and the impact of an aging workforce. The AARP Workfore Assessment Tool is available free to employers and requires the use of Adobe Reader. The tool automatically generate a report that can help an employer:

• Assess any potential impact the aging workforce will have on the organization;
• Map out current employer practices and identify areas for improvement;
• Provide recommendations on how to maximize the experience of an organization's older workforce; and
• Provide an inventory of workplace strengths that can be used to enhance the employer's brand.

Source: Casa Grande Valley Newspaper "Assessment tool helps employers prepare for aging workforce" (November 20, 2007)

AARP Announces 2007 Best Employers for Workers Over 50

In introducing its picks for the 2007 AARP Best Employers for Workers Over 50, AARP highlighted the number of major multi-national corporations demonstrating that enlightened policies toward 50+ employees make good business sense. Thus, for its top position, AARP named SC Johnson, a company based in Racine, Wisconsin, with operations in more than 70 countries, which, among other forward-looking practices, offers a range of flexible work arrangements that enable workers to balance their professional and personal lives--including an on-site medical center and various wellness, fitness and recreation programs; an on-site education program that provides lifelong learning and college credits; and paid sabbaticals to experienced employees.

Announcing that selection, along with the Principal Financial Group, its 9th selection, and Michelin North Americam, its 44th, AARP CEO Bill Novelli said that "[i]nternational companies that take a world class approach in their policies toward 50 and over workers understand that the result is more productive employees."

AARP alsp announced the winners of its annual Bernard E. Nash Awards for Innovation. Chosen from all applicants for the Best Employers honor, AARP singled out Mercy Health System of Janesville, Wisconsin, for flexible work options; Intuitive Research and Technology Corporation of Huntsville, Alabama, for retiree work opportunities; and Blue Cross Blue Shield Association of Chicago, Illinois, for training and development opportunities.

Source: AARP News Release (September 25, 2007)

Survey: Talent Gap Widens as Workforce Ages in G7 Countries

According to a study conducted by Towers-Perrin on behalf of AARP, as the number of workers reaching traditional retirement years increase in the G7 countries, the marketplace is experiencing a decline in the number of skilled younger workers available to fill in the ranks of those retiring. Thus, suggests AARP, employers must end age discrimination in the workplace if countries and employers are to be best positioned to thrive in the global economy tomorrow.

The study--International Profit from Experience--was released in advance of a conference on the same sponsored by AARP, in partnership with the European Commission, the Business Council for the United Nations and Nikkei. Among the survey's key findings:

• Age discrimination is the single largest barrier for those 50+ who want to continue working past their anticipated retirement age, with at least 60% of employees 50+ in each G7 country viewing age discrimination as the primary barrier to securing new jobs;
• Older workers in the G7 countries want to continue to work on average an additional 5 years;
• Surges of immigration and productivity that might offset the anticipated decline in skilled workers are unlikely to occur; and
• Allowing employees to continue working past their traditional retirement age will not only allow older workers to remain in their careers and stay active, but will have a positive impact on an employer’s bottom line.

Line Vreven, Director of AARP International, says that “While the survey clearly identifies the talent gaps emerging within G7 countries, the responses by employers do not sufficiently address this challenge.” In addition, those "nations working to actively retain older workers and are providing incentives, rather than deterrents, to their continued employment, will reap economic gain in the long-run.”

An executive summary of the full 124-page report is also available.

Source: AARP Press Release (September 25, 2007)

Survey: AARP Finds Many Michigan Members Working Past Traditional Retirement Age

A mail survey of 3,000 Michigan AARP members age 50 to 62 finds that retiring comfortably at age 62 is not a reality for many of them who expect to work well past the traditional retirement age due to increased longevity and rising health care costs. In the research report written by Erica L. Dinger, J.D., AARP Knowledge Management--"What Retirement? Working and Learning for AARP Members in Michigan", of the 832 members currently working or looking for work:

• 36% work full-time and 9% part-time;
• 49% consider it extremely (27%) or very (22%) likely that they will continue working beyond retirement;
• 54% say health insurance coverage is a major factor in their decision to continue working, while 45% enjoy working, 44% need extra income, and 41% need income to pay for prescription drugs;
• 37% intend to work at their current jobs as long as possible;
• 23% think they will retire at age 60-64 and 37% at 65-69; 20% estimate retiring at age 70 or older.

Source: AARP Policy & Research (September 2007)

Survey: AARP on Georgia's Aging Workforce

A report developed by AARP in cooperation with the Georgia Budget and Policy Institute and the Georgia Department of Labor shows that between 2005 and 2025, fewer people will be entering the job market even as the demand for workers increases because of two trends: Georgia’s age 65+ population will be increasing considerably while its under-age-24 segment will be shrinking and, at the same time, the state’s economy will be expanding.

The report--White Collar, Blue Collar, Gray Hair: The Changing Composition Of Georgia's Workforce--written by Anita Stowell-Ritter concludes that if employers in Georgia are to maintain their competitive edge, they "will need to reach out to mature workers. Doing so may necessitate employers embracing a new vision of how work is done." The report provides a guide to the shifting landscape of work in Georgia with a compilation of employment projections, specific occupational profiles, and job trend indicators.

"We're going to have to change the culture of work because older workers are going to be the workers for the next 20 years," said Alan Essig, executive director of the Georgia Budget and Policy Institute, which also worked on the report. "The business community's going to have to figure out ways to reach older workers, or they're not going to be able to compete."

Source: AARP Research Report (May 2007)

Additional Source: Atlanta Journal-Constitution "Help wanted from older workers" (May 23, 2007)

Survey: AARP Explores Employer Readiness for Boomer Retirements in New York

According to an AARP survey conducted in late 2006, New York businesses understand the value of the knowledge and experience employees gain while working for an organization, particularly over long periods of time. Furthermore, most place a high level of importance on retaining departing employees’ wisdom and recommendations—however less than a third have an organizational process in place to preserve such institutional knowledge.

The survey--Preparing for an Aging Workforce: A Focus on New York Businesses--written by Katherine Bridges and David Cicero finds that, among other things, while 62% of employers believe their business is likely to face a shortage of qualified workers within the next five years, only 23% have taken steps to prepare for potential worker shortages due to baby boomer retirements. In addition:

• 11% say they are offering incentives to encourage their employees to delay retirement
• 72% say it is extremely or very important to retain institutional knowledge that might be lost when employees retire or otherwise leave (although only 34% have a formal process in place enabling employees to pass on their knowledge and experience before they leave
  
• 39% offer reduced work schedules for those considering retirement, mostly on an informal, case-by-case basis, but only 6% of those offering this option have a formal phased-retirement program

Source: AARP Research Report (May 2007)

Survey: AARP Finds High Interest in Nevada in Working after Retirement Age

According to an AARP membership survey in Nevada, 32% say they are extremely (21%) or very likely (11%) to work beyond retirement, but slightly more (36%) say that for them it's not at all likely. The report was prepared by Jennifer H. Sauer, M.A., AARP Knowledge Management, for AARP Policy & Research.

In the "AARP Nevada Survey of Members: Work and Retirement", needing extra income was a major factor in the decision of those likely to continue working beyond retirement, but having health insurance coverage, building up a savings, enjoying work or the job, and paying for other health related costs are also factors influencing members to delay retirement or work again after retirement.

Employers interested in retaining or recruiting mature workers should note that AARP members in Nevada who are likely to continue working through traditional retirement indicate that flexible work schedules and incentive pay are highly influential factors in their decision to keep working. Additionally, two-thirds of those likely to keep working say a that a job allowing them to use their skills and expertise is extremely or very important to them, and half say that a job suited to family and personal life is also extremely or very important to them when thinking about working beyond retirement.

Source: Research Reports "Survey of AARP Nevada Members" (February 2007)

Survey: Alabama Firms Not Prepared for Retirement

According to a survey of 348 Alabama employers conducted for the AARP, while 95% percent say it is no less than “very important” for their organization to retain skilled employees, only 11% report having taken actions to prepare for the retirement of baby boom workers.

The report--Alabama Survey of Employers’ Practices for Managing An Aging Workforce--found that in order to accommodate workers interested in working beyond normal retirement age, employers were were planning or considering: (1) enabling employees to ease into retirement by reducing their work schedules (49%); (2) hiring retired employees (47%); (3) providing part-time work arrangements without continuation of benefits (45%); and (4) upgrading training (43%).

Source: AARP Policy & Research Research Report (August 2006)

Other Sources: The Huntsville Times "Too few firms in state are planning for retirement" (December 3, 2006); The Montgomery Advertiser Survey: Firms not ready for boomers' exit (December 5, 2006); The Birmingham News "Baby boomers reaching point of mass retirement" (December 1, 2006)

AARP Announces 2006 Best Employers for Workers Over 50

In releasing its list of the 2006 AARP Best Employers for Workers Over 50, AARP says that enlightened employers are making strategic business decisions in addressing the needs of an aging workforce by increasingly providing flexible work arrangements that accommodate the schedules of the employees and their families.

The top finisher was Mercy Health System of Janesville, Wisconsin, which offers "numerous flexible options, including weekend-only work, nursing "float" options (work at different facilities and or departments), work-at-home opportunities, 'seasonal work' programs that allow staffers to go on leave for extended periods while maintaining benefit eligibility, and on-call assignments that involve a limited number of hours per month that can be expanded and/or contracted based on the employee's availability."

The well-known employers in the top 50 include Volkswagen of America, Inc., Hoffmann-La Roche Inc., Principal Financial Group, and Busch Entertainment Corporation. Their offerings include full and part-time employees flex time, compressed work schedules, job sharing and telecommuting, phasing into retirement with part-time work, and retiree work opportunities, inclduing offering temporary work assignments, consulting work, and telecommuting.

Source: AARP Press Release (August 30, 2006)

Additional Resources: "Healthy look at retaining older workers" Chicago Tribune article on Mercy Health System (August 31, 2006)

First AARP "2020 Vision Forum" Focuses on How the Aging of the Boomers Impacts the Workforce

The AARP launched its opinion leader "2020 Vision Forum" Series with a "Boomers and the Workplace Revolution" forum designed to stimulate debate with key workforce stakeholders on the demographic shifts and trends of the 50+ workforce. At this forum, business, academic and community leaders heard how boomers are reshaping the American workplace. An interactive discussion examined how we as a society can best go about ensuring that suitable work opportunities are available to retain an older workforce as the pool of younger workers shrinks while encouraging employers to expand employment opportunities, training and flexible or "phased" retirement options to retain their boomer workers.

AARP CEO Bill Novelli hosted a panel discussion of leaders in business and education, moderated by CNBC's Maria Bartiromo. Panelists included Ramani Ayer, Chairman and CEO of The Hartford, Jane Friedman, President and CEO of HarperCollins, Daniel Pink, Wired magazine contributor and author of Free Agent Nation, and Dr. Shirley Pippins, President of Suffolk County Community College.

A recorded webcast of the forum is available for viewing.

Source: News Release AARP (April 19, 2006)

For a news story from the forum, see New York Daily News.

AARP Campaigns To Repeal Social Security Offset Provision in State Unemployment Laws

According to an article by Diane E. Lewis in The Boston Globe, AARP has launched a campaign to encourage Massachusetts and eight other states to end state laws that deduct a portion of older workers' weekly Social Security payments from their unemployment benefits. According to AARP, laws in theses states, which include Rhode Island, Maine, Colorado, Ohio, Utah, Illinois, Louisiana, Minnesota, and South Dakota, cause such workers to forfeit $7.5 million per year.

"Two legislative proposals in Massachusetts could lead to a repeal. One, filed by House Minority Leader Bradley H. Jones Jr., a North Reading Republican, would provide enhanced jobless benefits to laid-off older workers. A second bill, filed by Senate Minority Leader Brian Lees, a Republican representing the First Hampden and Hampshire district, would eliminate the Social Security unemployment insurance offset."

Source: "AARP hits law that cuts elders' jobless benefits" The Boston Globe (January 10, 2006)

AARP Study Debunks Myths, Shows 50+ Workers as a Solid Investment

The AARP has released a study prepared by Towers Perrin for AARP that challenges myths about workers 50 and older and shows that those employees often have productive advantages that make them far more cost-effective than is generally believed. According to the report--"The Business Case for Workers Age 50+: Planning for Tomorrow's Talent Needs in Today's Competitive Environment", there is a common business perception that 50+ workers "cost more" than younger workers, but that "the extra per-employee total compensation cost of retaining or attracting more 50+ workers ranges from negligible to three percent in key industries" and "older workers are more motivated to exceed expectations on the job than younger workers." Furthermore, in the case of hiring more older workers, "average age-based total compensation cost differences are negligible and hover around one percent per year for the four positions examined."

Source: News Release AARP (December 21, 2005)

AARP Expands Featured Employers Program

The AARP has expanded its "Featured Employers" program by collaborating with 11 additional major companies to help Americans aged 50 and over remain in the workforce as desired. In announcing the expansion, AARP CEO Bill Novelli said that "[a]s more and more workers reach traditional retirement age, there are not enough new workers to replace them. We are working with forward-thinking companies who value older workers to offset labor and knowledge gaps. This is a winning strategy for American business, for the older workers themselves and for our national economy."

Source: News Release AARP November 17, 2005

AARP Pushes for Fairness to Unemployed Older Workers

After the Pennsylvania House Labor Relations voted in favor of House Bill 163, a measure to allow qualified unemployed workers who are receiving Social Security benefits to get full unemployment compensation, AARP Pennsylvania recognized the action to end the state's practice of discriminating against unemployed older workers. According to AARP, Pennsylvania currently penalizes these unemployed workers by forcing them to forfeit $1 of unemployment compensation for every $2 they receive in Social Security benefits. "This is an unfair situation for older workers," said J. Shane Creamer, AARP Pennsylvania State President. "These workers and their employers contribute to the unemployment compensation system just like any worker. Yet should they lose their job, they are denied their full unemployment compensation payment." Thirteen other states penalize older workers in this manner, and West Virginia and Hawaii enacted legislation earlier this year to enable older workers in those states to collect full unemployment benefits.

Source: News Release PR Newswire (May 12, 2005)

AARP Releases Research on Interest in Phased Retirement

Nearly 40% of age 50+ workers would be interested in participating in phased retirement according to research by AARP Knowledge Management. According to S. Kathi Brown, the report-- "Attitudes of Individuals 50 and Older Toward Phased Retirement"--the opportunity to work a reduced schedule prior to full retirement while simultaneously collecting pension benefits has significant appeal. "Of workers who expressed interest in phased retirement, nearly four in five expect that the availability of such a plan would encourage them to work past their expected retirement age. Although respondents value the ability to work a reduced schedule while collecting some of their pension, they are wary of the possibility that phased retirement might reduce their final pension benefit."

Source: Research Report AARP Knowledge Management (March 2005)

AARP Unveils "Worforce Initiative" for Mature Job Seekers

The AARP Foundation and 13 major companies announced a major new program called the "Workforce Initiative" to help Americans aged 50 and over to stay in the workforce. This will include highlighting "Featured Employers"-–"companies that have committed to an aggressive program of recruiting, hiring, and retaining mature workers." According to AARP, the first group of Featured Employers includes major names in business: Adecco, AlliedBarton Security Services, Borders Group, Inc., Express Personnel Services, Johns Hopkins Health System, Kelly Services, Manpower Inc., MetLife Inc., Pitney Bowes, Principal Financial Group, The Home Depot, Universal Health Services and Walgreens. The overall goal of the Workforce Initiative is to connect mature workers with job opportunities.

First, it will help 50+ workers prepare for remaining in the workforce by linking them with skills assessment tools and training resources. Next, it will provide connections for those who may want full or part-time jobs or new careers with companies who value their experience. Finally, it will be a resource to large and small companies, to help them understand the needs and interests of a mature workforce. The strength of this program involves commitment on the state and local level working with both the public and private workforce sectors to provide connections for mature workers seeking employment.

Source: News Release AARP (February 28, 2005)

AARP Foundation Names Pitney Bowes "Featured Employer"

Pitney Bowes and 12 other national companies were named “Featured Employers” by the AARP Foundation for being forward-looking companies in regard to the impact of an aging workforce on employers, employees and on the economy. AARP named the companies as part of its launch of the Workforce Initiative. The Workforce Initiative is designed to help job seekers remain in the workforce, as they desire, by seeking to help mature jobseekers and workers close the existing gap of opportunities by offering employment connections, skills assessment and access to training. According to Pitney Bowes,

Pitney Bowes was recognized for giving equal consideration to mature job seekers as it does for applicants from all other groups. The company also provides programs to support their employees’ health, education, preparation for retirement, care giving to elderly parents and other family members, among others.

Source: Press Release Pitney Bowes (February 28, 2005)