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If They Could Retire Gradually, Older Employees Would Stick Around Longer

March 24, 2004
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One out of three older workers would continue working longer than planned if they could phase in their retirement, according to a Watson Wyatt survey of 1,000 employees and retirees at or near retirement age.

Sixty-three percent of older workers said they hope to work part-time before they retire altogether. Another 48 percent would like to move to a flexible schedule before retirement.

Among Watson Wyatt’s recommendations for encouraging older employees to stick around: providing bonuses to part-time employees; redesigning health care plans so that part-timers are covered; and incorporating loan features into defined-contribution plans so that employees can supplement their income while phasing in retirement.

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