Workforce.com

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

March 24, 2004
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.