Authors: Urban Institute
December 3, 2002
Urban Institute
This is a transcript of a an Urban Institute First Tuesdays forum, which focused on the ways in which private and public policy create institutional and legal impediments that encourage older workers to retire before they would otherwise do if they had a more neutral set of incentives. The issue is important for several reasons: millions of baby boomers are approaching the ages of which employer and government pension and health plans will encourage them to leave the labor force; when they retire, the labor force will grow at a snail's pace, leading to labor shortages that will limit our economic growth; and public retirement programs are underfunded. In addition, under some policy reforms the participation of older workers could provide a bit of relief to the public sector while, in turn, many elderly workers, once they have retired, find that they don't have sufficient resources to maintain their preferred lifestyle.
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