More Americans 55 and Older Work Full Time
Health care and retirement saving keep people on the job.
How many older Americans are working full time -- any why? Here's eye-opening research on work from Employee Benefit Research Institute (EBRI):
- Total workers 55 or older increased from 38 percent in 1993 to 45 percent in 2006
- Total workers 65 to 69 increased from 18 percent in 1985 to 29 percent in 2006
- Full-time workers 55 or older increased from 54 percent in 1993 to 64 percent in 2005
- Male full-time workers 55 or older increased from 61 percent in 1993 to 70 percent in 2005
- Female full-time workers 55 or older increased from 47 percent in 1993 to 59 percent in 2005
Among reasons for working longer: to hold onto affordable employment-based health insurance; to continue accumulating savings in employment-based retirement plans.
Whatever the reasons, working longer leads to changes in current and future lifestyle, and may have a major impact on society.