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Working longer and population aging in the U.S.: Why delayed retirement isn’t a practical solution for many

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  • Berkman, Lisa F.
  • Truesdale, Beth C.

Abstract

We argue that if the United States wants to make delayed retirement a healthy reality in the future, policymakers must level the social and economic playing field for young and middle-aged workers. As it stands, precarious working conditions, family caregiving responsibilities, poor health, and age discrimination make it difficult or impossible for manytowork into their late 60s and beyond. Investments in better jobs today could lead to more secure retirements tomorrow. At the same time, we need a renovation of America’s retirement and disability systems to provide financial security for all Americans as they age. Our findings suggest that working longer is set in motion long before one’s 60s; it is structured by a life course history of working steadily through one’s 50s. We argue that policies affecting work and policies affecting retirement are two sides of the same coin and must be considered together.

Suggested Citation

  • Berkman, Lisa F. & Truesdale, Beth C., 2023. "Working longer and population aging in the U.S.: Why delayed retirement isn’t a practical solution for many," The Journal of the Economics of Ageing, Elsevier, vol. 24(C).
    • Handle: RePEc:eee:joecag:v:24:y:2023:i:c:s2212828x22000706
    DOI: 10.1016/j.jeoa.2022.100438
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    References listed on IDEAS

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    1. Teresa Ghilarducci & Amanda Novello, 2017. "Inadequate Retirement Savings for Workers Nearing Retirement," SCEPA policy note series. 2017-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
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    Cited by:

    1. Scott, Andrew J., 2023. "The economics of longevity – An introduction," The Journal of the Economics of Ageing, Elsevier, vol. 24(C).
    2. Gajowiak Małgorzata, 2024. "Ageism in the Workplace – Selected Research Results in SMEs from the Poznań Poviat," Folia Oeconomica Stetinensia, Sciendo, vol. 24(1), pages 41-55.
    3. Rocha de Jesus Fernandes, Anderson & Lanza Queiroz, Bernardo, 2024. "Aging, education and some other implications for the silver dividend in developing countries: Evidence from Brazil," The Journal of the Economics of Ageing, Elsevier, vol. 27(C).
    4. Osathanunkul, Rossarin & Dumrong, Pasinee & Yamaka, Woraphon & Maneejuk, Paravee, 2023. "The nonlinear impacts of aging labor and government health expenditures on productivity in ASEAN+3 economies," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 450-470.
    5. Guiling Zhao & Deyu Zhou & Yunpeng Fu, 2024. "Study on the Impact of Delayed Retirement on the Sustainability of the Basic Pension Insurance Fund for Urban Employees in China," Sustainability, MDPI, vol. 16(10), pages 1-20, May.

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      More about this item

      Keywords

      Working longer; Delayed retirement; Retirement security; Economic inequalities; Population aging;
      All these keywords.

      JEL classification:

      • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
      • I14 - Health, Education, and Welfare - - Health - - - Health and Inequality
      • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
      • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
      • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
      • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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