From Are Older Workers Capable Of Working Longer?, a study by Laura D. Quinley and Gal Wettstein of the Center for Retirement Research at Boston College:
The paper found that:
- The capacity to work to older ages is still increasing for high-education individuals and low-education Black women.
- However, no progress has been observed for low-education whites of all genders and Black men.
- As a result, large shares of those still working at age 62 will be incapable of working even two more years.
The policy implications of the findings are:
- Raising Social Security eligibility ages may reduce the financial security of large segments of the population.
- These impacts will be particularly pronounced for Black men and low-education white individuals of all genders.
Should full retirement age be based on one's education level, gender, and race in addition to year of birth? As a Gen-X white male with an advanced degree, I suspect that mine would be increased beyond its current 67 (https://www.ssa.gov/benefits/retirement/planner/agereduction.html). I will not be able to stop typing on my telework laptop until they have to pry it away from my cold, dead hands.
ReplyDeleteThe paper seems to be about raising the Social Security eligibility age, which is 62 for almost everyone, not raising the FRA.
ReplyDeleteI am an attorney. I will be 73 years old in August. I am still working full-time. For the last eight years I have been a solo. This is the first time in my career that I have been solo. I am struggling with finding a way to retire. I do not have the work I once did. The work I am doing, particularly with the Federal Courts is without a doubt the best work in my long career (almost 50 years).
ReplyDeleteOn the other hand, I do not have enough hearings to support my office and my limited staff.Bringing someone younger does not appear to be an option.
I will be shocked if they dont move early retirement to 65, FRA to 70 and Medicare eligibility to 70 for us younger workers, then when we get control of the system, we will have to fix it and undo the damage of the generations before us.
ReplyDeleteActually 831, I assure you that on the inside it is your generation that is pushing for harsher rules. Talk about callousness and no consideration for predicament of the old and/or disabled. I assure you this is no longer FDRs Social Security and the boomers are no longer in charge.
ReplyDelete1:15 Look at the top place holders of the agency. Guess the comish is younger than he looks. OK Boomer.
ReplyDelete