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Staying Ahead of the Curve 2003:The AARP Workingin Retirement Study

Published September 2003

Staying Ahead of the Curve 2003:

The AARP

Working in Retirement Study

Data Collected by RoperASW Report Prepared by S. Kathi Brown, Strategic Issues Research, AARP

Copyright © 2003 AARP

Knowledge Management 601 E Street NW

Washington, DC 20049 http://research.aarp.org

Reprinting with Permission

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AARP is a nonprofit, nonpartisan membership organization dedicated to making life better for people 50 and over. We provide information and resources; engage in legislative, regulatory and legal advocacy; assist members in serving their communities; and offer a wide range of unique benefits, special products, and services for our members. These include AARP The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; AARP Segunda Juventud, our quarterly newspaper in Spanish; NRTA Live and Learn, our quarterly newsletter for 50+ educators; and our Web site, www.aarp.org. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

Acknowledgements

RoperASW collected the data for this study through telephone interviewing and assisted in questionnaire design. AARP’s Economic Security and Work team made this study possible. The following members of AARP’s staff served on the project advisory team:

• Jon Dauphiné, Economic Security and Work • Deborah Russell, Economic Security and Work • Sara Rix, Public Policy Institute • Xenia Montenegro, National Member Research • Tracy Needham, National Member Research • Jeff Love, Strategic Issues Research • Nancy Thompson, Communications • David Nathan, Communications • Janet C. Lane, Communications

This report was prepared by S. Kathi Brown, Strategic Issues Research, AARP, with assistance provided by staff at Fleishman-Hillard. Teresa Keenan reviewed the segmentation analysis and the report. Jeff Love, Director, Strategic Issues Research, also reviewed this report. For additional information, contact S. Kathi Brown at (202) 434-6296 or Jeff Love at (202) 434-6279.

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CONTENTS

I. Executive Summary ..................................................................................4

Detailed Findings:

II. Pre-Retirees ..............................................................................................13

III. Working Retirees .....................................................................................41

IV. When Will Today’s Older Workers Stop Working? ...........................59 (Pre-retirees and Working Retirees)

V. Key Working in Retirement Groups: A Segmentation Analysis........60

Appendices:

VI. Appendix A: Annotated Questionnaire ................................................67

VII. Appendix B: Sampling..........................................................................139

VIII. Appendix C: Occupation Classification Methodology ......................141

IX. Appendix D: Technical Explanation of Segmentation Analysis........149

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I. EXECUTIVE SUMMARY Older workers today look for and expect dynamic retirements. They want stimulating environments where they have plenty of choices about how they spend the rest of their lives. Although most who are approaching retirement envision their retirement as a period that will include leisurely pursuits, new experiences, and time spent with loved ones, the majority also expect their retirements to include some form of work. In order to better understand the specific types of jobs that workers envision holding in retirement, explore today’s definition of retirement, and learn more about the workplace experiences and desires of current working retirees, AARP recently conducted a nationwide telephone survey of 2,001 individuals between the ages of 50 and 70 years old who are employed on a full-time or part-time basis. Of the individuals interviewed, more than eight in ten (85 %) have never retired from a job; and fifteen percent report that they have retired from a job but either remained in the workforce after retiring or have since returned to the workforce. The phone interviews, which were conducted by RoperASW using random digit dialing, took place from April 9 through June 5, 2003. Although the age of 65 has customarily been associated with retirement, suggesting that the large baby boomer cohort (those born between 1946 and 1964) will begin to leave the workforce in 2011, this study and previous research indicate otherwise. For example, in a 2002 AARP survey of 50-70 year old investors, about one in five (21%) investors who had not yet retired reported that they had already postponed retirement as a result of stock market losses, and many of them indicated that they would not retire before the age of seventy. 1 Moreover, in this latest study, nearly 70% of workers who have not yet retired report that they plan to work into their retirement years or never retire, and almost half indicate that they envision working into their 70s or beyond. While research clearly identifies financial need as a primary reason that individuals are choosing to work longer, studies also show that the non-financial benefits of work influence the decision to remain in the labor force. For example, AARP’s 2002 Work and Career Study found that the top motivations for working in retirement included not only the need for extra money but also a general desire to work for enjoyment, to have something interesting to do and to stay physically active. 2 As may be expected, motivations for working in retirement vary by type of worker, a topic which is explored further in this latest study. These new attitudes toward retirement and work coupled with a burgeoning aging population will result in a much older U.S. workforce than in years past, creating new opportunities and demands for employers and society at large. According to the Bureau of Labor Statistics, 17% of the nation’s workforce will be comprised of adults ages 55 and older by the year 2010, up from 13% in the year 2000. By 2050, older adults are projected to account for 19 percent of the workforce. During this same time period, younger

1 AARP, Impact of Stock Market Decline on 50-70 Year Old Investors (Washington, DC: AARP, 2002). 2 AARP, Staying Ahead of the Curve: The AARP Work and Career Study (Washington, DC: AARP, 2002). A nationally representative telephone survey of 1500 people between the ages of 45 and 74 who were either employed or looking for work.

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workers between the ages of 25 and 54 are expected to decline as a percentage of the workforce, from 71 percent in 2000 to 67 percent in 2010 and 65 percent in 2050.3 If today’s older workers continue to delay retirement, or work well into it, while the aging baby boomers simultaneously swell the ranks of those in their “pre-retirement” years, the average age of the working population will increase substantially. As this occurs, it will be more important than ever for employers to recognize and address the needs of an aging workforce. Imagining a Vibrant Retirement: The New Vision While it’s not surprising that many pre-retirees still cling to traditional images of retirement, such as spending more time with loved ones, receiving pension and Social Security benefits and engaging in activities they previously had no time for, a new, more multifaceted vision of retirement is emerging. Specifically, when asked to describe their personal definition of retirement, at least seven in ten older workers who have yet to retire state that spending more time with family and friends, receiving Social Security and pension benefits, relaxing, having more fun, and doing things you never had time for are “very much” or “somewhat” a part of their personal definitions of retirement. However, the majority also report that their personal definition of retirement includes some form of work. For example, just over half (53%) state that their definition of retirement includes working for enjoyment, not money, and 42 percent report that their retirement definition includes having to do some kind of work to help pay the bills. Plans for Retirement In fact, when asked what they plan to do in retirement, close to seven in ten pre-retirees report that they will either work during retirement or never retire. Specifically, 63 percent state that they plan to work at least part-time in retirement, and an additional 5 percent say that they never expect to retire, suggesting that a full 68 percent of pre-retirees plan to work during a time traditionally reserved for activities other than work. Alternatively, fewer than three in ten (29%) respondents indicate that they will not work for pay at all in retirement, which is similar to the findings from AARP’s 2002 Work and Career Study.4 When to Retire: Health Benefits and Income Are Paramount Findings reveal that pre-retirees are much more likely to view eligibility for retirement benefits and achievement of retirement savings goals as central to their decision about when to retire than to emphasize the achievement of career goals. Specifically, when asked to rate factors which will influence the timing of their retirement, more than seven in ten pre-retirees say that it is “very important” to them to be eligible for retiree health benefits (75%) and payments from a retirement savings plan (71%) by the time they retire. Additionally, more than six in ten say that

3 Mitra Toossi, “A Century of Change: The U.S. Labor Force, 1950-2050,” Monthly Labor Review, 125 (May 2002), 15-28. Howard Fullerton and Mitra Toossi, “Labor Force Projections to 2010,” Monthly Labor Review, 124 (November 2001), 21-38. 4 Although AARP’s 2002 Work and Career Study focused on individuals between the ages of 45 and 74 who were either employed or looking for work, which is broader than this survey’s base of individuals ages 50 to 70 who are employed, the 2002 study found that similar percentages of respondents planned to work in retirement (69%) and not work in retirement (28%).

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eligibility to receive retirement benefits from Social Security (66%) and the achievement of retirement savings goals (64%) will be “very important.” In comparison, only three in ten (29%) describe the realization of job-related goals as “very important” to their retirement decision. In contrast, working retirees (94% of whom retired before age 65) are more likely to say that they retired after accomplishing certain career goals than becoming eligible for any specific benefits. However, when asked whether they are currently receiving retirement benefits, more than eight in ten (84%) working retirees report that they are either currently receiving at least one type of retirement benefit or that they have at some point received a retirement benefit as a lump sum payment. Reasons for Working in Retirement When asked to indicate why they have decided to work in their retirement years, pre-retirees and working retirees are initially more likely to identify non-financial reasons than financial considerations. Staying ‘mentally and physically’ active and remaining ‘productive or useful’ top the list. However, when respondents are forced to select only one major factor in their decision to work, it becomes clear that the need for money is the primary motivator. Specifically, when asked to choose only one major influence in their decision to work, both pre-retirees and working retirees are more likely to cite the need for money than any other factor. Some Plan Traditional Retirements While many older workers plan to contribute to the workforce indefinitely, close to 30 percent of pre-retirees intend to retire the old-fashioned way- they plan not to work. Instead, they expect to use their time as they please, spending more of it with their family and friends and relaxing. Important Features of Retirement Work Like many younger workers, many 50-70 year old workers seek work/life balance and a healthy, vibrant work environment in which they can learn new skills, grow, and perform at their personal best. When working retirees and pre-retirees who plan to work in retirement were asked to rate the importance of job attributes as they relate to working in retirement, at least half described the following as “very important:”

• working in an environment where employee opinions are valued; • working for a company that lets older employees remain employed for as long as they

wish to work; • being able to take time off to care for relatives; • being able to set their own hours; • working for a company that offers good health benefits; • working for a company that offers health benefits to retirees.

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Additionally, more than half of respondents rated the following attributes as either “very important” or “somewhat important:”

• having new experiences; • learning new skills; • being able to work a reduced schedule before completely retiring; • working for a company that offers a good pension plan; • being able to work from home.

Interestingly, both pre-retirees and working retirees place great emphasis on keeping mentally active, with more than seven in ten rating this as “very important” in retirement work. In fact, more than half of respondents rate each of the following attributes as “very important” in a retirement job:

• keeps you mentally active; • makes you feel useful; • is fun or enjoyable; • keeps you physically active; • enables you to support yourself and your family; • lets you interact with other people; • lets you help other people; • is not too stressful.

Jobs Pre-Retirees Expect to Hold in Retirement As older workers have wide-ranging interests and expansive skill sets, it is not surprising that respondents who plan to work in retirement expect to engage in a broad range of fields and in some cases, eagerly anticipate trying something new. In fact, slightly more than one in four (27%) pre-retirees who say they will work in retirement expect to find employment that is entirely different from the work they do now. Professional occupations represent the most common type of work in which pre-retirees plan to engage in retirement, followed by skilled and semi-skilled labor jobs, service positions, and sales jobs. Interestingly, approximately one in five pre-retirees who expect to work in retirement are still cultivating their interests, stating that they don’t know what kind of work they will do in retirement. So, what are pre-retirees’ areas of interest?

• The specific occupations that pre-retirees are most likely to be considering for retirement include teaching (6%), office support (4%), craft work (4%), retail sales (3%), consulting (3%), farming and ranching (3%), nursing (2%), and other health services work (2%).

• Approximately one in six (16%) pre-retirees who expect to work in retirement plan to

work for themselves or start their own business. For these individuals, the most popular retirement jobs under consideration include craft work (9%), farming and ranching (8%), and consulting (7%). Other lines of work under consideration by those who expect to be self-employed in retirement include construction, real estate, home improvement/home repair, and artist.

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Jobs Currently Held by Working Retirees Similarly, working retirees are contributing to a vast array of sectors and more than half (54%) indicate that their current work is entirely or fairly different from the job that they did prior to retirement. Fewer than half (45%) say that their work in retirement is similar or identical to their pre-retirement work. In many respects, the jobs currently held by working retirees mirror the type of work pre-retirees plan to engage in during their retirement. For example, not only do professional jobs top the list of occupations in which pre-retirees plan to engage in retirement, but they are also the jobs that are most prevalent among today’s working retirees. Specifically, close to one in four (24%) working retirees hold jobs in professional fields. However, retirees are also working as skilled and semi-skilled labor (15%), service and protective workers (14%), clerical workers (11%), salespeople (10%), technicians and minor administrators (8%), and executives and managers (7%). The specific occupations in which working retirees are most likely to be engaged include teaching (10%), office support (7%), management (5%), and driver or courier (5%). Approximately one in five (21%) working retirees are self-employed. Among self-employed retirees, the most common lines of work are consulting (10%), real estate (9%), farming and ranching (6%), and private investigation (6%). Win-Win: Older Workers Willing to Take Jobs With High Projected Growth 5 Employers will be pleased to learn that pre-retirees and working retirees are willing to contribute to vocations currently on the rise, thereby filling potential gaps. When asked to rate their willingness to take a variety of jobs in retirement that are projected to grow rapidly over the next few years, about half of respondents indicated that they would be either “very willing” or “somewhat willing” to take a job in retirement as a:

• customer service representative • teaching assistant • teacher

Additionally, at least one in four respondents say that they would be willing to take a job in other occupations expected to experience high growth, including retail salesperson, landscaper or groundskeeper, cashier, computer support specialist, real estate agent, secretary or receptionist, truck driver or courier, bookkeeper or accounting clerk, and child care worker. 5 Jobs titles included in question 18 and 40 of the survey represent a selection of occupations projected to grow fastest from 2000 to 2010, occupations projected to experience the largest numerical increases in employment during the same time period, or occupations with the greatest replacement needs for workers retiring from 1998 to 2008. Job titles were adapted as necessary to facilitate respondent comprehension. Sources: (1) U.S. Department of Labor Bureau of Labor Statistics’ Occupational Outlook Handbook, 2002/2003 Online Edition. (2) Arlene Dohm, “Gauging the Labor Force Effects of Retiring Baby Boomers,” Monthly Labor Review (July 2000), 17-25.

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Three Dynamic 50+ Workforces Among pre-retirees who are planning to work in retirement and working retirees, three distinct groups exist with divergent attitudes toward retirement work: Balancers, Work Enthusiasts, and Earners. Walking the Tight Rope: Balancers As alluded to by their name, Balancers are more likely than the other two groups to expect that their retirement years will be characterized by the need to balance work demands with family responsibility and leisure. Specifically, this group is more likely than the other two to place a high value on receiving time off for caregiving responsibilities, working a reduced schedule prior to retirement, and having retirement work that is not too stressful. Balancers represent the largest group, including a full 50% of pre-retirees who plan to work in retirement and working retirees. Compared to the other two groups, Balancers are more likely to be female and are more likely to include baby boomers (65%). Balancers are also less educated and less likely to be retired (9%). Balancers’ primary motivations for working in retirement include the desire to stay mentally and physically active, the desire to be productive, and the need for health benefits and money. However, despite the variety of motivations identified, more than four in ten (44%) name money or health benefits as their one major reason for considering retirement work. Live to Work: Work Enthusiasts As connoted by their name, Work Enthusiasts embrace work with more enthusiasm than their counterparts in the other groups. Not only do they plan to work longer than the other groups, but pre-retirees in this group are more likely than those in other groups to view working for enjoyment, not money as an integral part of their personal definition of retirement. Work Enthusiasts are primarily men (62%) and comprise the second largest group, accounting for close to three in ten (28%) of all pre-retirees who plan to work in retirement and working retirees. As the most affluent and educated group, they are more likely than the other groups to hold professional positions and to be self-employed. The primary distinction between Work Enthusiasts and the other groups is that financial considerations, such as money and health benefits, play virtually no role in this group’s decision to work in retirement. Rather, their primary motivations for working in retirement include a desire to stay mentally and physically active and a desire to be productive. Work to Live: Earners Similar to Work Enthusiasts, approximately one-third of Earners are working retirees and the majority (63%) are men. Of all three groups, retirees in the Earners group are more likely to have retired before the age of 50 and are less likely to have retired after reaching certain retirement savings goals. While they are more educated and affluent than Balancers, they are less educated and affluent than Work Enthusiasts. The primary distinction between Earners and the other two groups is that Earners’ motivations for and attitudes toward working in retirement are significantly more focused on financial considerations. Specifically, more than six in ten (62%) Earners cite money and health benefits as their one major reason for working in retirement.

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Implications Because older workers are choosing to prolong their working years at a time when the oldest baby boomers are approaching their sixties and the share of workers ages 25 to 54 is projected to decline, older workers are expected to grow as a percentage of the labor pool over the next decade and beyond. Faced with these projections, employers should be prepared to address the needs of an aging workforce or potentially face difficulty filling critical positions in their organizations. Specific implications for employers are as follows: Older Adults - Bridging the Gap Employers with positions of high interest to older workers, such as teaching, office support, retail sales, consulting, nursing, and health services, should work to recruit and retain this experienced segment of the labor force. Targeting older workers for these positions is likely to be particularly advantageous as many of these occupations are expected to experience significant growth while workers ages 55 and over are projected to increase as a percentage of the workforce. Training is Key As many mature workers welcome opportunities to continue learning, advance their skills and remain mentally agile, employers should actively provide training opportunities to all of their workers, regardless of age. Capitalize on Their Expertise Although many of today’s working retirees are currently engaged in retirement jobs which are unlike their pre-retirement careers, employers should recognize that most pre-retirees who plan to work in retirement hope to build on their accumulated expertise by remaining in a line of work that is similar to their current occupation. Employers should actively tap into this labor pool’s talent and expertise while keeping in mind that new experiences are valued by many older workers. Work/Life Balance and Flexibility Many older workers put a high premium on workplace flexibility as they attempt to juggle family and work responsibilities, suggesting that employers who have yet to implement flexible scheduling practices may lose valuable employees. In fact, the majority of older workers who don’t plan to work in retirement say that they would consider retirement work if their employer were to provide flexible scheduling options such as allowing them to set their own hours or phase into retirement. Retirement Security A secure retirement comprises four pillars: Social Security, private pensions and personal savings, earnings and health insurance. The growing number of individuals choosing to work after traditional retirement age suggests that current public policy and private programs may not be sufficient to enable workers to adequately prepare for financial security in retirement. Economic, financial, demographic and health care trends have combined in recent years to erode the foundation underlying each of the four pillars. In particular, the escalating costs of health care and the cutbacks in employer-sponsored retiree health coverage in recent years have made it difficult if not impossible for workers to plan for and pay for major medical costs after retirement. There are a number of positive steps that can and should be taken to strengthen Social Security and the private pension system and encourage individuals to save and invest wisely. New laws, incentives and policy must be implemented to sustain and enhance the private

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pension and retiree healthcare systems. And the prompt enactment of a prescription drug benefit in Medicare is an essential first step in providing for the retirement security of older Americans.

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DETAILED FINDINGS The following sections of this report include the detailed findings: II. Pre-Retirees............................................................................................................13 III. Working Retirees ...................................................................................................41 IV. When Will Today’s Older Workers Stop Working? ............................................59 V. Key Working in Retirement Groups: A Segmentation Analysis ..........................60

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II. PRE-RETIREES Personal Definition of Retirement While leisurely pursuits, fun, and time with family and friends still dominate peoples’ images of retirement, it is clear that many pre-retirees envision a retirement that includes at least some form of work. Specifically, when asked to describe their personal definition of retirement, older workers who have yet to retire still name notions traditionally associated with retirement more often than work-related activities. For example, more than seven in ten of today’s pre-retirees (72% -78%) state that spending more time with family and friends, receiving Social Security and pension benefits, relaxing, having more fun, and doing things you never had time for are “very much” or “somewhat” a part of their personal definitions of retirement. However, despite the high number of pre-retirees who include these traditional images in their retirement definition, fewer than half (48%) define retirement as a chance to stop working for pay completely. In fact, slightly more than half (53%) of these older workers state that their definition of retirement includes working for enjoyment, not money; and 42 percent report that their retirement definition includes having to do some kind of work to help pay the bills. The frequency with which both leisurely pursuits and work-related activities are included in respondents’ retirement definitions suggests that many workers who have yet to retire envision a multi-faceted retirement that includes a combination of work and traditional retirement pastimes.

Personal Definition of Retirement Base = Those who have never retired from a job (1,637)

Very much %

Somewhat %

Very much / Somewhat

% Spending more time with family and friends 54 24 78 A chance to relax 48 25 73 A chance to have more fun 48 25 73 Receiving retirement benefits from Social Security or pension payments

49 23 72

A chance to do things you never had time for 47 25 72 A chance to travel 38 28 67 Doing volunteer or charity work 19 39 57 Slowing down & working fewer hours/part-time 24 32 56 Working for enjoyment, not money 25 27 53 A chance to stop working for pay completely 23 25 48 Having to do some kind of work to help pay bills 15 28 42 A chance to leave your main career to try a different type of work

12 17 28

Feeling less useful or less productive 7 14 20 Question 1: “Different people expect to do different things in retirement. When you think about your own future retirement, how much is each of the following part of your personal definition of retirement: very much, somewhat, only a little, or not at all? If you never plan to retire, please tell me.”

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While the above table illustrates the findings across all pre-retirees, certain groups differ from others in significant ways:

• Women are more likely than men to say that their personal definition of retirement includes retirement benefits, a chance to do things you never had time for, a chance to relax and travel, and a chance to have more fun.

• Compared to those aged 65 and older, younger pre-retirees are more likely to hold

traditional notions of retirement and to envision their retirement as a chance to stop working for pay completely, a chance to do things you never had time for, a chance to relax, a chance to travel, and a chance to have more fun. These same younger pre-retirees are also more likely than their older counterparts to envision a retirement in which they’ll have a chance to leave their main career to try a different type of work.

• Workers who have some formal education beyond high school are more likely than those

with only a high school education to associate retirement with involvement in volunteer or charity work and a chance to travel, whereas those with only a high school diploma are more likely to associate retirement with feeling less useful or less productive.

• Hispanics and Latinos are less likely than white workers to associate retirement with a

chance to travel.

• Compared to workers with annual household incomes under $30,000, more affluent workers are more likely to associate retirement with a chance to stop working for pay completely, working for enjoyment, not money; a chance to do things you never had time for; doing volunteer or charity work; relaxation; fun; travel; and spending more time with family and friends.

• Compared to those who are divorced, separated, and widowed, married pre-retirees are

more likely to envision a retirement that includes slowing down, stopping work completely, volunteer work, a chance to relax and travel, a chance to do things you never had time for, and a chance to have more fun. In contrast, those who are divorced, separated, and widowed are more likely to associate retirement with having to do some work to help pay the bills.

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Plans for Retirement When asked what they plan to do during their retirement, 63 percent of pre-retirees state that they plan to work at least part-time in retirement, and an additional 5 percent say that they never expect to retire, suggesting that a full 68 percent of pre-retirees plan to work during a time that has traditionally been reserved for activities other than work. Alternatively, just under three in ten (29%) indicate that they will not work for pay at all in retirement, which is similar to the findings of AARP’s 2002 Work and Career Study.6 As may be expected, pre-retirees are much more likely to indicate that their retirement plans include part-time work than full-time work. Specifically, almost half (46%) plan to work part-time, either in a job similar to their current job or in a different type of job. In contrast, only seven percent plan to work full time. However, the fact that another five percent never expect to retire and still others expect to work for themselves suggests that up to twelve percent or more of these older workers may plan to work the equivalent of a full-time work schedule during years traditionally reserved for non-work activities.

Plans for Retirement

Base = Those who have never retired from a job (1,637) Not work for pay at all 29% Work part-time, doing the same type of work you do now 24% Work part-time, doing something different 22% Start your own business / work for yourself, doing the same type of work you do now

5%

Start your own business / work for yourself, doing something different 5% Work full-time, doing the same type of work you do now 5% Work full-time, doing something different 2% Never expect to retire {not read} 5% Work / Never expect to retire 68% Don’t know {not read} 3% Total 100%Question 3: “Which of the following, if any, best represents what you plan to do during your retirement?”

6 Although AARP’s 2002 Work and Career Study focused on individuals between the ages of 45 and 74 who were either employed or looking for work, which is broader than this survey’s target audience of individuals between the ages of 50 and 70 who are employed, the 2002 study found that similar percentages of respondents planned to work in retirement (69 percent) and not work in retirement (28 percent).

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While the above table illustrates the findings across all pre-retirees, certain groups differ from others as described below:

• Compared to other respondents, small business owners and self-employed individuals are more likely to say that they will never retire. Self-employed individuals are also more likely than other workers to say that they will work for themselves in retirement.

• Women are more likely than men to report that they will not work for pay at all in

retirement, whereas men are more likely than women to expect that they will never retire.

• Workers under the age of 60 are more likely than other pre-retirees to indicate that their retirement work will consist of either part-time work that is different from their current line of work or running their own business in a field that is different from their current field.

• Compared to workers without a college degree, workers with a post-graduate degree are

more likely to expect that they will work part-time in retirement doing the same time of work that they do now.

• Compared to individuals with lower household incomes, individuals with incomes over

$30,000 are more likely to say that they do not plan to work for pay in retirement and are less likely to plan to work part time in retirement doing the same type of work they do now.

• Hispanics and Latinos are more likely than whites to report that they will not work for

pay in retirement. Compared to both whites and African Americans, Hispanics and Latinos who plan to work in retirement are more likely to report that they expect to work full-time in a line of work that differs from their current job.

• Compared to married workers, those who are widowed, divorced, or separated are more

likely to expect to work full-time in retirement--either in the same line of work or a different line or work—or to start their own business in a different line of work. Compared to workers who are not married, married workers are more likely to say that they will work part-time doing something different.

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When Retirement Will Begin Of those older workers who expect to eventually retire, the overwhelming majority (80%) expect to begin their retirement before the age of 70. However, as noted earlier, most of these workers expect that they will continue to work during their retirement. Compared to those workers who plan to work during retirement, those who do not plan to work in retirement are more likely to expect to retire before the age of 70 (86% versus 76%).

Age at Which Retirement Will Begin Base: Those who have never retired from a job, but will eventually retire

Will not work in retirement (n=489)

Will work in retirement (n=1,020)

Total* (n=1,556)

50 and 54 1% 1% 1% 55 and 59 13% 11% 12% 60 and 64 37% 28% 31% 65 and 69 36% 36% 36%

Before age 70 86% 76% 79%70 and 74 9% 12% 11% 75 and 79 2% 3% 3%

70 -79 11% 15% 14%80 or older 1% 3% 3% Never expect to retire {not read} 1% 3% 3%

80 or older / Never 2% 7% 5%Don’t Know {not read} 1% 2% 2%

Total 100% 100% 100%Question 4: “At what age do you expect to begin your retirement?” All percentages are rounded to the nearest percentage point. * ‘Total’ column includes respondents who do not know whether they will work in retirement. The following groups differ in significant ways from other pre-retirees:

• Compared to pre-retirees who are employed by someone else, self-employed workers are more likely to expect to retire in their seventies or eighties, to indicate that they never expect to retire, or to report that they don’t know when they will retire.

• Not surprisingly, compared to other pre-retirees, those who are currently between the

ages of 65 and 70 are more likely to believe that they won’t retire until reaching their seventies or eighties. They are also more likely than their younger counterparts to expect that they will never retire or to report that they don’t know when they will retire.

• Workers with household incomes of at least $50,000 are more likely than other workers

to expect to begin their retirement before the age of 60; whereas, those with incomes below $30,000 are more likely than others to report that they don’t know when they will retire. On average, workers with incomes of at least $80,000 expect to retire between one and two years earlier than those with lower incomes.

• On average, compared to married pre-retirees, workers who are widowed, divorced, or

separated expect to begin their retirement about one year later than married workers.

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Impact of Retirement Benefits, Savings, and Career Goals on Retirement Timing When asked to rate the importance of selected factors that may influence a worker’s decision regarding when to retire, pre-retirees are more likely to attach high levels of importance to financial considerations than to career or job-related goals. Specifically, more than seven in ten pre-retirees say that it is “very important” to them to be eligible for retiree health benefits (75%) and payments from a retirement savings plan (71%) by the time they retire. Additionally, more than six in ten say that eligibility to receive retirement benefits from Social Security (66%) and the achievement of retirement savings goals (64%) will be “very important.” In contrast, fewer than three in ten (29 %) anticipate that it will be “very important” to them to accomplish certain career or job-related goals by the time of retirement. Moreover, more than eight in ten (83-90%) pre-retirees report that achieving retirement savings goals and eligibility for retiree health benefits, pension plan payments, retirement benefits from Social Security, and Medicare will be either “very important” or “somewhat important” to their retirement decisions.

Importance of Selected Factors in Decision Regarding When to Retire Base = Those who have never retired from a job, but will eventually retire (1,556)

Very important

%

Somewhat important

%

Very / Somewhat Important

% You achieve certain retirement savings goals, or save a certain amount of money for retirement

64 26 90

You are eligible for retiree health benefits 75 15 89 You are eligible to receive payments from a retirement savings plan such as a pension plan, a 401(k), IRA, or Keogh plan

71 17 88

You are eligible to receive retirement benefits from Social Security

66 19 85

You are eligible for Medicare 60 23 83 You accomplish certain career or job-related goals

29 33 62

Question 5: “I’m going to read you a list of things that might influence some people’s decisions regarding when to retire. Thinking about your own situation, as I read each of the following statements, think about how important it is to you that each happens by the time you retire. Please tell me if it is “very important,” “somewhat important,” “not too important,” or “not at all important” to you.” All percentages are rounded to the nearest percentage point.

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Certain groups differ from other pre-retirees in the following ways:

• Pre-retired women are more likely than men to report that it will be important to them to be eligible for Medicare and for retirement benefits from Social Security by the time they retire.

• Similarly, pre-retirees between the ages of 60 and 70 are more likely than those in their

fifties to feel that it will be important for them to be eligible for Medicare and for retirement benefits from Social Security by the time they retire. However, workers in their fifties are more likely than those in their sixties to rate eligibility for pension plan payments as important.

• Other pre-retirees who are more likely than their counterparts to report that it will be

important to them to be eligible for Medicare and Social Security retirement benefits by the time they retire include those with household incomes below $80,000, those without a college degree, and African Americans.

• Pre-retirees with household incomes under $20,000 are less likely than other workers to

report that it will be important to them to be eligible to receive pension plan payments and retiree health benefits by the time they retire, suggesting that they are less likely to have access to and/or contributed to such plans. They are also less likely than workers from middle-income households ($30,000 - $50,000) to report that achieving retirement savings goals will be important.

• Compared to pre-retirees with household incomes above $80,000 as well as those with

incomes below $20,000, workers in middle income brackets are more likely to report that it will be important to them to be eligible for retiree health benefits by the time they retire.

• Pre-retirees who are divorced, separated, or widowed are more likely than their married

counterparts to report that it will be important to them to be eligible for Medicare by the time they retire.

• Compared to others who have yet to retire, self-employed individuals are less likely to

indicate that becoming eligible to receive pension plan payments, Medicare, or retiree health benefits by the time they retire will be important to them.

• Small business owners are more likely than most other pre-retirees to report that it is

important to them that they accomplish certain career-related goals by the time of retirement.

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Reasons for Working in Retirement When asked to indicate the extent to which their decision to work in retirement is influenced by a variety of issues, pre-retirees are initially more likely to identify non-financial considerations than financial considerations. Specifically, more than three in four (77 – 87%) pre-retirees who plan to work in retirement indicate that a desire to stay mentally and physically active and to remain productive and useful are among the major factors causing them to consider retirement work. In contrast, no more than two in three (54-66%) indicate that the need for health benefits or the need for money are among the major factors influencing their decision to work. However, when respondents are forced to select only one major factor in their decision to work, it becomes clear that the need for money is the most common primary motivator. Specifically, when asked to choose only one major influence in their decision to work, respondents are more likely to cite the need for money (22%) than any other factor. Second in importance to need for money is the need for health benefits (17%), followed closely by a desire to remain mentally active (15%) and a desire to remain productive or useful (14%). Although it appears that pre-retirees expect that retirement work will provide a variety of non-financial benefits as well as financial benefits, that fact that the need for money is the most frequently cited “one major factor” for working into retirement suggests that a sizable portion of these workers would choose to spend their retirement years outside of the workforce if they felt financially secure doing so. Not surprisingly, compared to workers who do not plan to work in retirement, those that plan to continue working in retirement are more likely to have lower household incomes. For example, only 8% of those who will not work in retirement have household incomes under $30,000, compared to 15% of those who plan to work in retirement. Pre-retirees who never plan to retire attach similar degrees of importance to these factors when explaining their reasons for never retiring.

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Major Factors in the Decision to Work in Retirement (Base: Pre-Retirees Who Plan to Work in Retirement, n=1020)

54%

58%

59%

66%

71%

77%

85%

87%

50%

32%Pursue a dream

Learn new things

Need money

Be around people

Help other people

Need health benefits

Do something fun

Be productive or useful

Stay physically active

Stay mentally active

Question 6: “Now, I’m going to read you several reasons why some people continue to work in retirement. For each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision to work in retirement.” For each item, chart shows % of respondents who identified the item as a “major factor.”

ONE Major Factor in the Decision to Work in Retirement(Base: Pre- Retirees Who Plan to Work in Retirement, n=1020)

3%

3%

3%

4%

5%

6%

9%

14%

15%

17%

22%

Don't know / RefusedPursue a dream

Learn new thingsBe around people

Do something fun Help other people

Stay physically activeBe productive or useful

Stay mentally activeNeed health benefits

Need money

Question 6a: “Which of the things we just talked about is the ONE major factor in your decision to work in retirement?”

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When identifying the “one major factor” contributing to their plans to work in retirement, the following groups of pre-retirees differ from others:

• Women are more likely than men to name the need for money and the desire to stay mentally active as their one major reason for planning to work in retirement, whereas men are more likely than women to name the desire to stay physically active.

• Pre-retirees with household incomes under $20,000 as well as those with no formal

education beyond high school are more likely than their counterparts to identify the need for money or the desire to stay physically active as the one major factor influencing their plans to work in retirement. Interestingly, the desire to stay physically active is the only non-financial motivation identified more often by lower-income and less-educated workers than by higher-income, more-educated workers. This may reflect the fact that lower-income, less-educated workers are more likely than other workers to work as laborers and service providers, both of which represent fields that involve more physical activity than many of the professional occupations typically filled by individuals with higher education levels and incomes.

• Workers from middle income households ($20,000 - $80,000) are more likely than those

with higher and lower incomes to identify the need for health benefits as their one major motivation. Compared to their counterparts, workers with more formal education or higher household incomes are more likely to name non-financial considerations such as the desire to pursue a dream, the desire to help other people, the desire to do something fun, the desire to learn new things, and the desire to stay mentally active.

• Compared to workers in their fifties, those in their sixties are more likely to identify the

desire to stay mentally active. Additionally, those between the ages of 55 and 64 as well as those who are divorced, separated, or widowed are more likely than others to identify the desire to stay physically active.

• Self-employed workers are less likely than others to name the need for health benefits.

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Benefits and Employer Characteristics Expected to be Important in Retirement Work When asked to rate the extent to which a variety of job attributes would be important to them when working in retirement, more than half of pre-retirees who expect to work in retirement indicate that they would highly value an employer who shows respect for employee opinions, an employer who is committed to their older workers, good health benefits, and flexible scheduling. Specifically, more than half of respondents state that the following attributes will be “very important” to them when working in retirement:

• working in an environment where employee opinions are valued; • working for a company that lets older employees remain employed for as long as they

wish to work; • working for a company that offers good health benefits, and offers health benefits to

retirees; • being able to take time off to care for relatives, and being able to set their own hours; • working for a company that offers employment opportunities to retirees

Other attributes considered “very important” or “somewhat important” by at least eight in ten respondents include having new experiences and being able to learn new skills.

Importance of Selected Benefits and Employer Characteristics in Retirement Work Base = Pre-retirees who plan to work in retirement (1,020) (Sorted by “very/somewhat important”)

Very important

%

Somewhat important

%

Very / Somewhat important

% Working in an environment where employee opinions are valued

66 21 87

Being able to take time off to care for grandchildren, parents, or other relatives

57 29 85

Being able to set your own hours 56 30 86 Working for a company that lets its older employees remain employed for as long as they wish to work

58 25 83

Having new experiences 41 41 82 Being able to learn new skills 41 39 80

Working for a company that offers employment opportunities to retirees

52 24 76

Working for a company that offers good health benefits 56 18 74 Working for a company that offers health benefits to retirees 55 18 73 Being able to work a reduced schedule for a period of time before you retire completely

39 33 72

Working for a company that offers a good pension plan 44 19 63 Being able to work from home 31 27 58 Working for yourself or starting your own business 30 20 50 Question 16: “Now, I am going to read you a list of different types of things that some people consider when selecting a job. Thinking about your personal situation and the work that you may do in retirement, as I read each of the following items, please tell me whether it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement.”

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Although the vast majority of pre-retirees who plan to work in retirement believe the above considerations will be important to them in their retirement jobs, the following differences exist among certain groups:

• Women are more likely than men to anticipate that the following things will be important to them in their retirement jobs: being able to learn new skills, working in an environment where employee opinions are valued, working for a company that lets its older employees remain employed for as long as they wish, access to good health benefits, being able to take time off to care for relatives, access to good pension plans, being able to work a reduced schedule before retiring completely, and working for a company that offers employment opportunities to retirees. In contrast, men are more likely than women to indicate that an important feature of their preferred retirement work will be the ability to work for themselves or start their own business.

• Workers between the ages of 50 and 54 are somewhat more likely than workers in their

sixties to attach importance to the ability to learn new skills and the ability to work a reduced schedule before full retirement. Additionally, compared to workers between the ages of 65 and 70, younger workers are more likely to feel that it will be important to them to work for a company that values employee opinions and offers employment opportunities to retirees. Moreover, most likely as a result of Medicare eligibility, workers between the ages of 65 and 70 are less likely than other workers to feel that employer-provided health benefits will be important to them in their retirement job.

• Compared to other workers, workers with no formal education beyond high school and

those with household incomes under $80,000 are more likely to attach importance to working for a company that lets its older employees remain employed for as long as they wish to work; a company that offers employment opportunities to retirees; one that offers good health benefits and a good pension plan; and one that offers employees the ability to work a reduced schedule before retiring completely. In contrast, workers with household incomes higher than $80,000 are more likely than other workers to desire the ability to set their own hours.

• African Americans are more likely than whites to indicate that working for themselves or

starting their own business will be an important feature of their retirement work.

• Workers who are divorced, separated, or widowed are more likely than married workers to report that good employer-provided health benefits and good pension plans will be important to them.

• As may be expected, compared to other workers, those who are parents, those who are

married, and those who have existing caregiving responsibilities are more likely to expect that the ability to take time off to care for relatives will be important to them. Workers who are taking care of grandchildren are less likely than other workers to attach importance to having new experiences.

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• Self-employed workers are more likely than others to expect that it will be important to

them to have the ability to set their own hours, work from home, and work for themselves. In contrast, individuals who are not self-employed are more likely to attach importance to companies that let older employees remain employed for as long as they wish to work and value employee opinions, offer good health benefits and good pension plans, and offer employment opportunities to retirees.

Valued Intangibles in Retirement Work When asked to rate the extent to which selected intangible benefits will be important to them in retirement work, pre-retirees overwhelmingly identify keeps you mentally active as the most important intangible, with more than 80% rating this as “very important.” In fact, more than half of pre-retirees who plan to work during retirement rate each of the following as “very important” in a retirement job:

• keeps you mentally active • makes you feel useful • is fun or enjoyable • keeps you physically active • enables you to support yourself and your family • lets you interact with other people • is not too stressful • lets you help other people

Importance of Selected Job Characteristics in Retirement Work

Base = Pre-retirees who plan to work in retirement (1,020) (Sorted by “very/somewhat important”)

Very Important %

Somewhat Important %

Very / Somewhat Important %

Keeps you mentally active 80 19 99 Makes you feel useful 74 22 97 Is fun or enjoyable 73 23 96 Keeps you physically active 61 33 94 Lets you help other people 54 38 93 Lets you interact with other people 58 34 92 Is not too stressful 57 31 89 Enables you to support yourself and your family 61 24 86 Makes use of your education 49 35 84 Is not too physically demanding 36 46 82 Makes use of your previous work experience 49 31 80 Is your dream job 32 34 66 Question 17: “Again, please think about the type of work that you may do in retirement. As I read each of the following items, please tell me whether it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement.”

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When estimating the extent to which these intangible issues will be important to them in their retirement work, the following groups of pre-retirees differed from others:

• Women are more likely to men to expect that it will be important to them to have a retirement job that is not too stressful, not too physically demanding, lets them interact with and help other people, and makes use of their previous work experience.

• Compared to workers with higher education levels or high household incomes, workers

who are less educated or have lower incomes are more likely to desire retirement work that is not too stressful, not too physically demanding, keeps them physically active, and enables them to support themselves and their family.

• Compared to single workers, workers who are married, widowed, divorced, or separated

are more likely to desire retirement work that lets them interact with people and are less likely to desire work that makes use of their education. Those who are divorced, separated, or widowed are more likely than other workers to desire a job that keeps them physically active and enables them to support themselves and their family.

• African Americans are more likely than other workers to desire a retirement job that is

their dream job.

• Compared to other workers, those who are currently self-employed are more likely to hope to engage in retirement work that makes use of their previous work experience.

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Type of Work Planned for Retirement When asked to describe the work that they plan to do in retirement, pre-retirees are most likely to name professional occupations (20%), followed by skilled and semi-skilled labor jobs (14%), service positions (13%), and sales occupations (11%). Interestingly, approximately one in five pre-retirees (19%) who expect to work in retirement say that they don’t know what type of work they will do. Compared to respondents who expect to work for someone else in retirement, those who expect to be self-employed are more likely to report that they will work as skilled and semi-skilled labor (20%), farmers (7%) and that they will own their own business (6%). They are also more likely to be able to describe the type of work that they plan to do in retirement as illustrated by the relatively small portion (11%) who say that they don’t know what type of work they will do. Of those who are currently self-employed, eight in ten (82%) expect to remain self-employed after they retire.

Type of Work Planned for Retirement7 Those who plan to work

in retirement, but not for self (856)

Those who plan to work for self in retirement (164)

Total (1020)

Professional specialties 20% 21% 20% Skilled and semi-skilled labor 13% 20% 14% Service and protective workers 14% 9% 13% Sales 11% 14% 11% White collar / clerical (non-supervisory)

7% 4% 7%

Technician / minor administrative 6% 2% 5% Executive / Administrative / Management

4% 4% 4%

Owner – small retail store / business 1% 6% 2% Farmer 1% 7% 2% Unskilled labor * -- * Don’t know 21% 11% 19% Refused 1% 1% 1% Q 8 & 9: “You indicated that you plan to work {for yourself} during your retirement. What type of work do you think you will do?” (* = Less than 0.5%.) Statistically significant differences between those who plan to be self employed and those who plan to work for someone else are represented by bold font.

7 White-collar occupations include the following categories: executive / administrative/ management, professional specialties, white-collar clerical / non supervisory, technician / minor administrative, and sales. Blue-collar occupations include skilled and semi-skilled labor and unskilled labor. Each respondent’s planned job was classified into one of the above ten occupation categories using RoperASW’s standard occupation classification methodology.

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Specific Occupations Planned for Retirement The specific occupations that pre-retirees are most likely to be considering for retirement include teaching (6%), office support (4%), craft work (4%), retail sales (3%), consulting (3%), farming and ranching (3%), nursing (2%), and other health services work (2%). These and the other occupations mentioned most frequently as planned retirement work are listed below. Of pre-retirees who expect to work in retirement, approximately one in six (16%) plan to work for themselves. Among these individuals who plan to be self-employed in retirement, the most popular jobs under consideration include craft work (9%), farming and ranching (8%), and consulting (7%). Among pre-retirees who plan to work for someone other than themselves in retirement, the most common retirement jobs under consideration include teaching (6%), office support (5%), retail sales (4%), craft work (3%), consulting (2%), nursing (2%),and other health services (2%).

Occupations Most Likely To Be Under Consideration for Retirement Work* (Among Pre-Retirees Who Plan to Work in Retirement)

Base: All pre-retirees who plan to work in retirement (1,020) Teaching–teacher, teaching assistant, substitute teacher, college professor, seminar instructor

6%

Office support / clerical work – administrative assistant, secretary, receptionist, clerk 4% Crafts – making and selling crafts 4% Retail sales – sales associate, unspecified work in a department store 3% Consulting 3% Farming and ranching – farmer, rancher, agriculture 3% Nursing – nurse, nursing assistant 2% Health services aide – health aide, home health aide, hospital worker 2% Cleaning – janitor, housekeeper, custodian 2% Child care - child care provider, babysitter, day care worker 2% Home improvement / home repair / handyman 2% Construction 2% Manager / supervisor / assistant manager 1% Customer service representative 1% Cashier 1% Sales (other than retail) 1% Real estate agent / real estate appraiser 1% Computer work—unspecified 1% Insurance - insurance agent, insurance investigator 1% Engineer 1% Bookkeeper 1% Counselor / Psychologist 1% Truck driver 1% Manufacturing / assembly line work / factory work 1% *Table lists those job types mentioned by at least one percent of pre-retirees who plan to work in retirement. Together, the job types listed above represent those mentioned by 47% of the 1,020 pre-retirees who plan to work in retirement. All percentages shown above are rounded to the nearest percentage point. Question 8 (pre-retirees who plan to work for themselves in retirement): “You indicated that you plan to work for yourself during your retirement. What type of work do you think you will do?” Question 9 (pre-retirees who plan to work for someone other than themselves in retirement): “You indicated that you plan to work during your retirement. What type of work do you think you will do?”

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Occupations Most Likely to Be Under Consideration for Retirement Work:*

Pre-Retirees Who Plan to Work for Someone Other than Themselves in Retirement Base: Pre-retirees who plan to work for someone other than themselves in retirement (856) Teaching–teacher, teaching assistant, substitute teacher, college professor, seminar instructor

6%

Office support / clerical work – administrative assistant, secretary, receptionist, clerk 5% Retail sales – sales associate, unspecified work in a department store 4% Crafts – making and selling crafts 3% Consulting 2% Nursing – nurse, nursing assistant 2% Health services aide – health aide, home health aide, hospital worker 2% Cleaning – janitor, housekeeper, custodian 2% Farming and ranching – farmer, rancher, agriculture 2% Child care - child care provider, babysitter, day care worker 2% Manager / supervisor / assistant manager 2% Customer service representative 2% Cashier 2% Home improvement / home repair / handyman 1% Sales (other than retail) 1% Construction 1% Computer work (unspecified) 1% Insurance - insurance agent, insurance investigator 1% Truck driver 1% Engineer 1% Bookkeeper 1% Counselor / Psychologist 1% Electrician 1% Question 9: “You indicated that you plan to work during your retirement. What type of work do you think you will do?” *Table lists those job types mentioned by at least one percent of pre-retirees who plan to work for someone other than themselves in retirement. Together, the job types listed above represent those mentioned by 46% of the 856 pre-retirees who plan to work for someone other than themselves in retirement. All percentages are rounded to the nearest percentage point.

Occupations Most Likely to Be Under Consideration for Retirement Work:* Pre-Retirees Who Plan to be Self-Employed in Retirement

Base: Pre-retirees who plan to be self-employed in retirement (164) Crafts – making and selling crafts 9% Farming and ranching 8% Consulting 7% Construction 4% Real estate agent /realtor / real estate appraiser 3% Home improvement / home repair / handyman 3% Artist 3% Question 8: “You indicated that you plan to work for yourself during your retirement. What type of work do you think you will do?” *Table lists all types of work named by at least 2% of pre-retirees who plan to be self-employed in retirement. Together, the job types listed above represent those mentioned by 36% of the 164 pre-retirees who plan to work for themselves in retirement. Percentages are rounded to the nearest percentage point.

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Current Work vs. Expected Retirement Work: Similar or Different? While more than half (61%) of those who plan to work in retirement expect that their retirement work will be either identical (25%) or similar (36%) to their current jobs, more than one in three (37%) expect that the work they do in retirement will be fairly or entirely different. In fact, slightly more than one in four (27%) of those who say they will work in retirement expect to do work in retirement that is entirely different from the work they do now. Those workers who are more likely than their counterparts to expect that their retirement work will be identical to their current line of work include:

workers between the ages of 60 and 70 workers with household incomes less than $20,000 individuals who are currently self-employed

Among pre-retirees who plan to work in retirement, the following groups are more likely than their counterparts to expect to move into an entirely different line of work after they retire:

men workers between the ages of 50 and 59 workers who are currently employed by someone other than themselves individuals who currently hold positions as skilled, semi-skilled, or

unskilled labor; technicians and those in minor administrative positions; and service and protective workers

Compared to other planned retirement jobs, the jobs that are more likely to be under consideration by workers who expect to hold jobs in retirement that are fairly different or entirely different from their current work are as follows:

craft work gardening / horticulture greeter at a store or other business cashier car sales work of an unspecified nature with computers (“computer work,”

“computers,” “something with computers,” etc.) work related to the outdoors or recreation (“something connected to the

outdoors,” “working with my hands outdoors,” “park recreation,” etc.) work that focuses primarily on helping or serving people ( “taking care of

people,” help people gain some type of service,” “something to help . . . help people get to medical appointments . . .or do grocery shopping,” etc.)

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Current Type of Occupation vs. Retirement Work Plans and Preferences When describing the actual type of work that they expect to do in retirement, approximately 40 percent of workers who plan to work in retirement name a line of work that is in the same general occupational category as their current job, while an equal number (40%) name a line of work that falls outside of their current occupational category. As noted above, the remaining respondents (19%) report that they don’t know what type of work they will do in retirement. As shown in the two tables below, pre-retirees in certain occupations differ from others with respect to their likelihood to enter into a new type of occupation in retirement. The key differences are as follows:

• Of all older workers who expect to work in retirement, those currently in technical / minor administrative positions (15%) are least likely to expect to remain in their current type of occupation during retirement.

• Compared to other older workers who expect to work in retirement, those who currently

hold positions as skilled, semi-skilled or unskilled labor (27%) are more likely to indicate that they don’t know what type of work they will do in retirement.

The need for money and the desire to stay mentally active are among the top reasons that most pre-retirees plan to work in retirement. Professionals are more likely than most other workers to name the desire to stay mentally active as their one major reason for planning to remain employed during retirement. Compared to other workers, those in labor, clerical, and technical / minor administrative occupations are more likely to name the need for health benefits as the major reason that they will work in retirement. All pre-retirees, regardless of current occupation, feel that the following employer attributes will be among the most important to them in their retirement jobs: an employer who values employee opinions, allows employees to take time off to care for relatives, and lets employees set their own hours. Additionally, workers across all occupations expect that the most important intangible benefits of retirement work will include the following: keeps you mentally active, is fun or enjoyable, and makes you feel useful.

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Retirement Work Plans and Preferences by Current Occupation: Pre-Retirees (Table 1 of 2)

Current type of job: Executive / Management (n=94)

Professional Specialty (n=225)

Technician / Minor Administrative (n=142)

Small business owner / Farmer (n=40)

Top types of planned retirement jobs:

Exec / Mgmt (30%) Professional (21%) Don’t Know: 13%

Professional (56%) Don’t Know: 17%

Professional (19%) Labor (18%) Tech / minor admin (15%) Don’t Know: 16%

Small business owner (27%) Farmer (17%) Exec / Mgmt (12%) Labor (12%) Don’t Know: 2%

Top planned retirement jobs:*

Manager, executive or president, accountant, consultant

Teacher, nurse, consultant, counselor or psychologist, engineer

Consultant, crafts, secretary / receptionist / office work, teacher, supervisor

Farmer, insurance agent, construction, store owner, service technician, bookkeeper, antiques, accountant

Top 3 Reasons for Working in Retirement (most frequently named “one major factors”):

Money (21%) Useful (14%) Mentally active (14%)

Mentally active (22%) Money (21%) Health benefits (13%)

Health benefits (22%) Useful (16%) Mentally active (16%)

Useful (24%) Money (20%) Physically active (17%)

5 Most Important Employer Attributes and Benefits (most frequently rated as “somewhat / very important”):

Values employee opinions (85%), Retains older employees (85%), New experiences (83%), Time off for care giving (83%), Set own hours (82%)

Set own hours (90%), Values employee opinions (85%), New experiences (84%), Retains older employees (83%), Time off for care giving (82%)

Values employee opinions (91%), Set own hours (88%), Retains older employees (87%), New experiences (87%), Time off for care giving (85%)

Set own hours (88%), Time off for care giving (88%), Values employee opinions (81%), Working for yourself (81%), Work from home (78%)

5 Most Important Intangibles (most frequently rated as “somewhat / very important”):

Mentally active (100%), Fun (95%), Feel useful (95%), Interact with people (92%), Help people (91%)

Mentally active (99%), Fun (97%), Feel useful (97%), Help people (97%), Interact with people (96%)

Mentally active (99%), Feel useful (97%), Interact with people (97%), Fun (96%), Physically active (94%), Help people (94%)

Mentally active (100%), Physically active (100%), Fun (95%), Help people (95%) Feel useful (93%), Interact with people (93%), Support yourself (93%)

* The “top planned retirement jobs” row displays planned retirement jobs mentioned by at least 3% of pre-retirees in each occupational category who plan to work in retirement.

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Retirement Work Plans and Preferences by Current Occupation:

Pre-Retirees (Table 2 of 2) Current type of job:

White Collar, clerical /non-supervisory (n=129)

Service and Protective (n=124)

Sales (n=83)

Labor (n=150)

Top types of planned retirement jobs:

W.C., clerical (34%) Sales (14%) Professional (13%) Don’t Know: 18%

Service/protect (46%) Professional (11%) Don’t Know: 16%

Sales (51%) Don’t Know: 17%

Labor (43%) Service / protect (8%) Don’t Know: 27%

Top planned retirement jobs:*

Secretary / receptionist / office work, bookkeeper, retail sales associate, cashier, author or writer

Child care provider, housekeeper or janitor, health care worker or home health aide, computer worker, work related to the outdoors or recreation, consultant

Retail sales associate, sales other than retail, sales (unspecified), real estate agent, insurance agent, cashier

Crafts, truck driver, farming and ranching, manufacturing or factory work, construction, driver or courier, service technician


Health benefits (26%) Money (24%) Mentally active (13%)

Money (30%) Mentally active (14%) Useful (12%) Physically active (12%)

Money (24%) Useful (17%) Mentally active (17%)

Health benefits (27%) Money (21%) Physically active (16%)


Values employee opinions (91%), Set own hours (90%), Retains older employees (89%), Time off for care giving (88%), Learn new skills (87%)

Time off for care giving (90%), Values employee opinions (88%), Set own hours (86%), Learn new skills (80%), Retains older employees (79%)

Values employee opinions (86%), Retains older employees (84%), Time off for care giving (81%), Set own hours (80%), New experiences (77%)

Values employee opinions (88%), Time off for care giving (88%), Retains older employees (84%), Set own hours (84%), Retiree health benefits (80%)


Mentally active (100%), Feel useful (99%), Fun (96%), Not too stressful (96%), Physically active (91%)

Mentally active (98%), Feel useful (97%), Physically active (96%), Fun (95%), Not too stressful (93%)

Mentally active (100%), Feel useful (100%), Physically active (97%), Fun (97%), Interact with people (95%)

Mentally active (99%), Physically active (96%), Fun (96%), Feel useful (95%), Support yourself (93%)

* The “top planned retirement jobs” row displays planned retirement jobs mentioned by at least 3% of pre-retirees in each occupational category who plan to work in retirement.

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Preparation for Retirement Work The vast majority (82%) of pre-retirees who plan to work in retirement say that they have taken at least some steps to prepare for that work. The most common actions taken include reading (51%) and talking to people in the field (45%). Additionally, one-third of respondents report that they have taken training in the workplace and seminars offered outside of work in an effort to prepare for their desired retirement job.

Steps Taken to Prepare for Retirement Work (Base: Pre-Retirees Who Plan to Work in Retirement, n=1020)

1%

17%

28%

28%

33%

34%

45%

51%

Don't Know/ Refused

Nothing

Information gathering through Internet

Took course(s) at a college or trade school

Attended other seminar(s) or training sessions

Training provided in the workplace

Talked to people in the field and networked

Reading on your own

Question 15: “Please tell me whether or not you’ve taken any of the following steps to prepare for the type of work that you expect to do in retirement.” The following groups differ from each other with respect to the preparation undertaken for their retirement work:

• Women are more likely than men to indicate that they have taken advantage of training provided in the workplace or by their employer.

• Compared to workers between the ages of 65 and 70, workers aged 50 to 54 are more likely to have taken any of the steps shown in the table above, particularly courses at a college or trade school.

• Compared to workers with no formal education beyond high school, workers who are more educated are more likely to have gathered information through the Internet, taken a college or trade school course, attended seminars, networked, and conducted reading on their own.

• Workers with higher household incomes are more likely than those with lower incomes to have gathered information over the Internet, taken courses at a college or trade school, attended seminars, networked, and engaged in reading on their own.

• Compared to workers in most other occupations, those who currently hold technical / minor administrative positions are more likely to have taken any of the noted steps.

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Barriers to Desired Retirement Work Many pre-retirees (81%) who expect to work in retirement anticipate that they will encounter at least some obstacles to doing the type of work they would like to do in retirement. Although no one obstacle dominates the responses, the most frequently mentioned obstacle is health problems. As shown in the table below, other obstacles mentioned almost as frequently as health problems relate to physical limitations and financial concerns.

Barriers to Desired Retirement Work Base = Pre-retirees who plan to work in retirement (1,020) Yes% Health problems 35 Lack of money needed to start your own business 33 Physical demands of the work 33 The type of work you want to do doesn’t pay enough 32 Lack of jobs with flexible hours 31 Lack of job opportunities where you live 31 Age discrimination 30 Care giving responsibilities for relatives 30 Lack of necessary skills or education 19 Question 10: “I am going to read you a list of things that some people may consider as barriers or obstacles to doing the type of work they’d like to do in retirement. For each one, please tell me whether or not you think it would be an obstacle for you.” Certain groups are more likely than others to anticipate that obstacles may prevent them from securing their desired type of retirement job. The key differences are as follows:

• Women are more likely than men to anticipate multiple obstacles, including a lack of skills or education, lack of money needed to start their own business, insufficient pay, physical demands of the work, age discrimination, and a lack of job opportunities where they live.

• Compared to workers aged 65 to 70, workers between the ages of 50 and 64 are more

likely to mention a lack of money needed to start their own business.

• Compared to workers with more education, those with no formal education beyond high school are more likely to perceive many of these issues as obstacles, particularly lack of skills or education, lack of money need to start their own business, insufficient pay, care giving responsibilities, lack of jobs with flexible hours, and lack of job opportunities where you live.

• Similarly, compared to workers with high household incomes, those with lower incomes

are more likely to mention multiple obstacles, including lack of skills or education, insufficient pay, health problems, physical demands of the work, age discrimination, lack of jobs with flexible hours, and lack of job opportunities where you live.

• Those with care giving responsibilities are more likely than those without such

responsibilities to perceive several of these issues to be obstacles, including lack of money needed to start their own business, health problems, care giving responsibilities, and lack of jobs with flexible hours.

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• Compared to workers in the West, those in the Mid-West are more likely to expect that a lack of job opportunities where they live will hamper their ability to find their desired type of retirement job.

• Individuals who are widowed, divorced, or separated are more likely than those who are

married to perceive lack of money needed to start their own business as an obstacle.

• Compared to whites, African Americans are more likely to perceive lack of money to start their own business as an obstacle but are less likely to mention physical demands of the work.

• Workers who are not self-employed are more likely than self-employed individuals to

mention obstacles such as lack of money need to start their own business, age discrimination, lack of jobs with flexible hours, and lack of job opportunities where you live.

Willingness to Take Jobs with High Projected Growth8 When asked to rate their willingness to take a variety of jobs in retirement that are projected to grow rapidly over the next few years, approximately half of pre-retirees who plan to work in retirement indicate that they would be either “very willing” or “somewhat willing” to take a job in retirement as a customer service representative (52%), teaching assistant (50%), teacher (48%), or a retail salesperson (45%). Additionally, close to one-third of respondents who plan to work in retirement say that they would be willing to take a job as a cashier (36%), a landscaper or groundskeeper (36%), a computer support specialist (32%), and a secretary or receptionist (31%). Overall, more than nine in ten (94%) respondents who are planning to work in retirement say that they would be “very willing” or “somewhat willing” to take a retirement job in at least one of the eighteen rapidly growing occupations that were included in the survey. Employers should be encouraged by the fact that almost all of the jobs listed here which older workers indicate a relatively high willingness to take in retirement are also among those that these workers mentioned most frequently when asked to name the type of work that they plan to do in retirement. As might be expected, expressed willingness to take these jobs varies based on current occupation in a manner that is somewhat predictable and is most likely also related to education and training. For example, of all pre-retirees who are planning to work in retirement, those currently in professional occupations—which includes current teachers—are among the most willing to work as teachers in retirement. However, the fact that technicians, those in minor administrative positions, executives, and managers are also relatively willing to work as teachers

8 Jobs titles included in question 18 and 40 of the survey represent a selection of occupations projected to grow fastest from 2000 to 2010, occupations projected to experience the largest numerical increases in employment during the same time period, or occupations with the greatest replacement needs for workers retiring from 1998 to 2008. Job titles were adapted as necessary to facilitate respondent comprehension. Sources: (1) U.S. Department of Labor Bureau of Labor Statistics’ Occupational Outlook Handbook, 2002/2003 Online Edition. (2) Arlene Dohm, “Gauging the Labor Force Effects of Retiring Baby Boomers,” Monthly Labor Review (July 2000), 17-25.

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in retirement suggests that teaching appeals to many who are currently working outside of the teaching field. Interestingly, those workers currently in labor occupations are among the most willing to consider several of the service-related occupations such as food service worker; janitor, housekeeper, or maid; and security guard. This relatively high willingness to move from labor occupations into service-related occupations is supported by the fact that, when asked whether their retirement job will be similar to, or different from, their current job, laborers are among the most likely to report that they plan to move into an entirely different line of work in retirement.

Willingness to Work in Retirement in Selected Jobs with High Projected Growth Base = Pre-retirees who plan to work in retirement (1,020)

Very willing

%

Somewhat willing

%

Very / Somewhat willing %

Workers who are most willing, based on current

occupation* Customer service representative 15 37 52 Sales

Clerical workers Teaching assistant 13 38 50 Professionals Teacher 18 30 48 Professionals

Tech / minor administrators Executives/ managers

Retail salesperson 11 33 45 Sales Clerical workers

Landscaper or groundskeeper 9 27 36 Labor Cashier 7 28 36 Clerical workers

Sales Computer support specialist 10 22 32 Executives / managers

Clerical workers Secretary or receptionist 11 21 31 Clerical workers Child care worker 8 22 30 Service/protective workers

Clerical workers Real estate agent 7 23 30 Sales

Executives / Managers Truck driver or courier 6 21 28 Labor Bookkeeper or accounting clerk 8 19 28 Executives / Managers

Clerical workers Food service worker 6 20 25 Service /protective workers

Clerical workers Labor

Security guard 5 18 23 Labor Service / protective workers

Nursing assistant or home health care aide

7 16 22 Service /protective workers Clerical workers

Janitor, or housekeeper, or maid 5 14 19 Service / protective workers Labor

Insurance agent 4 10 14 Sales Waiter or waitress 2 12 14 Service/ protective workers

Sales Question 18: “Now, I’m going to read you a list of some types of jobs that are expected to have a lot of openings in the future. As I read each job, please tell me whether you would be very willing, somewhat willing, not too willing, or not at all willing to do this type of work for pay in your retirement.” Percentages are rounded to the nearest percentage point. *Last column lists those types of occupations which contain workers who are more likely than workers in other occupations to report that they would be very willing or somewhat willing to take the specified job in retirement. This column does not mention farmers and small business owners because the number of respondents identifying themselves as farmers or small business owners is too small to be compared to other occupations.

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Reasons for Not Working in Retirement As noted previously, close to three in ten (29%) pre-retirees do not plan to work in retirement. When older workers who don’t plan to work in retirement are asked about their reasons for planning not to work, the top reason given is a general desire to do as you please with your time (83%). Other frequently cited “major factors” in the decision not to work in retirement include a desire to spend more time with family (70%), you’ve spent enough of your life working (68%), and a general desire to relax (67%). These same considerations are identified most frequently when respondents are asked to select the one major factor in their decision not work. Specifically, when older workers who don’t plan to work in retirement are forced to select only one reason for not working, close to three in ten (29%) select desire to do as you please with your time, followed distantly by desire to spend more time with family (18%) and you’ve spent enough of your life working (15%). The fact that a majority of these individuals do not name “won’t need the money” as a major factor in their decision to stop working in retirement suggests that, although additional money may be helpful to some of these individuals, they may not view additional income from working as worth sacrificing the freedom associated with not working.

Major Reasons for NOT Working in Retirement (Base: Pre-Retirees Who Don't Plan to Work in Retirement, n=471)

11%

15%

19%

20%

22%

28%

29%

29%

49%

51%

67%

68%

70%

83%

You won't be able to find work you'd like

Age discrimination

Working is too physically demanding

Working is too stressful

Desire to volunteer

Won't need the money

Care giving responsibilities

Health problems

Desire to travel

Desire to pursue hobbies other than travel

Desire to relax

Spent enough of your life working

Spend more time with family

Desire to do as you please

Question 42: “I’m going to read you several reasons why some people choose not to work in retirement. For each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision not to work in retirement.” For each item, chart shows the % of respondents who identified the item as a “major factor.” Percentages are rounded to the nearest percentage point.

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ONE Major Reason for NOT Working in Retirement (Base: Pre-Retirees Who Don't Plan to Work in Retirement, n=471)

0%1%1%1%2%2%

4%4%4%5%6%7%

15%18%

29%

*Age discriminationYou won't be able to find work you'd like

Working is too physically demandingWorking is too stressful

Don't knowDesire to volunteer

Care giving responsibilitiesWon't need the money

Desire to pursue hobbies other than travelDesire to travelDesire to relax

Health problemsSpent enough of your life working

Spend more time with familyDesire to do as you please

Question 42a: “Which of the things we just talked about is the ONE major factor in your decision not to work in retirement?” Percentages are rounded to the nearest percentage point. * Percent of respondents identifying age discrimination” as the “one major factor” was less than 0.5%. Those Who Don’t Plan To Engage in Retirement Work: Reasons to Reconsider Although the most common reasons given for not working in retirement do not relate to financial considerations, it is clear that financial need plays a pivotal role in the decision to work in retirement. Not only are individuals with household incomes of at least $30,000 more likely than those with lower incomes to indicate that they will not work in retirement, but those who don’t plan to work in retirement identify financial need as the scenario that is most likely to change their plans. Specifically, when individuals who don’t plan to work in retirement are asked to rate the extent to which a variety of scenarios would cause them to return to the workforce after retiring, respondents cite a loss of retirement savings, a need for health benefits, and a general need for money as the situations under which they are most likely to return to work. However, a majority of these individuals also indicate that they would consider taking a retirement job if they were offered work that lets them help other people; work that is fun, lets them pursue a dream, or keeps them mentally and physically active; and work that allows them to phase into retirement or set their own hours.

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Likelihood to Work in Retirement Under Various Scenarios:

Among Those Who Don’t Plan to Work in Retirement Base = Pre-retirees who do not intend to work in retirement (471) (Sorted by “very/somewhat likely”) Very likely

%

Somewhat likely

%

Very / Somewhat

likely %

You needed the money 57 22 79 Your retirement savings ran out 63 14 78 You needed the health benefits for yourself or your family

55 24 78

You could help other people 34 40 74 You had the chance to do work that is fun 40 30 70 You could stay mentally active 40 27 67 You had the chance to do work that lets you pursue a dream

37 29 66

You could stay physically active 38 28 66 You could stay productive and be useful 33 31 64 You could phase into retirement by working a reduced schedule for a period of time before you retire completely

31 32 63

The pay was too good to refuse, although not necessary to support yourself

26 35 61

You were able to set your own hours 33 28 61 The perfect job came up 34 27 60 Your employer let you take time off as needed 33 24 57 You were able to work from home, at least now and then

23 32 55

You could be around people 24 30 54 You had the chance to do work that is not too stressful

23 28 51

You had the chance to do work that is not too physically demanding

20 25 46

Your employer understood the needs of people with physical limitations

26 19 45

Your employer offered you new experiences 15 25 39 You could learn new job skills 12 23 35 Question 43: “How likely would you be to work in retirement if the following were to happen? Would you be very likely, somewhat likely, not too likely, or not at all likely to work in retirement if . . . ?” Percentages are rounded to the nearest percentage point.

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III. WORKING RETIREES When Retirement Started Although fewer than half (44%) of today’s pre-retirees expect to retire before the age of 65, more than nine in ten (94%) working retirees report that they retired before the age of 65. Moreover, almost one in three (32%) indicate that they retired before the age of 50. Of those who say that they retired before the age of 50, approximately one in three (32%) were in the military before retirement. In contrast, only one in twenty-five (4%) of those who retired at the age of 50 or older report that their pre-retirement occupation was with the military.

Age At Which Today’s Working Retirees Retired Base: Those who retired

from one job (316) Base: Those who retired from more than one job (48)

Base: All Working Retirees (364)

Before the age of 50 32% 33% 32% 50 -54 19% 22% 20% 55 - 59 24% 17% 23% 60 -64 18% 25% 19% 65 -70 5% 4% 5% Don’t know 1% -- 1% Question 23 (If retired from more than one job): “Thinking about the last job that you retired from, at what age did you retire from that job?” Questions 24 (If retired from one job): “At what age did you retire?”

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Impact of Retirement Benefits, Savings, and Career Goals on Retirement Timing While more than 80 percent of pre-retirees state that eligibility for retiree health benefits, payments from a retirement savings plan, Medicare, and retirement benefits from Social Security will be “very important” or “somewhat important” in their retirement decision, fewer than four in ten (37%) working retirees say that they retired after becoming eligible for any one of these types of benefits. Given the relatively early age at which many of today’s working retirees say that they retired, it is not surprising that many were not eligible for retirement benefits when they retired. Working retirees are more likely to say that they retired after becoming eligible for pension plan payments (37%) than to report retiring after becoming eligible for any other retirement benefit examined, including retiree health benefits (26%), Social Security payments (17%), or Medicare (10%). About one in four (24%) say they retired after achieving retirement savings goals. While approximately half (51%) say they retired after becoming eligible for retirement payments either from Social Security or from a pension plan, or after achieving certain retirement savings goals, fewer than one-third (31%) say that they retired after becoming eligible for either retiree health benefits or Medicare. Interestingly, working retirees are more likely to say that they retired after accomplishing certain career or job-related goals (52%) than to report having retired after becoming eligible for any one type of benefit traditionally associated with retirement.

Timing of Retirement Relative to Selected Milestones Base = Working retirees (364)

Before %

After %

Not applicable

% DK/Ref

% You became eligible to receive retirement benefits from Social Security

76 17 7 1

You became eligible to receive payments from a retirement savings plan such as a pension plan, a 401(k), IRA, or Keogh plan

47 37 14 1

Social Security OR Pension Plan 44 You achieved your retirement savings goals, or saved a certain amount of money for retirement

57 24 15 4

Social Security, OR Pension Plan, OR Savings 51 You became eligible for retiree health benefits 54 26 16 3 You became eligible for Medicare 79 10 10 2

Retiree health benefits OR Medicare 31 You accomplished certain career or job-related goals

36 52 10 2

Question 25: “Did you retire before or after . . .”

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The following groups of working retirees differ from others with respect to the timing of their retirement relative to the above milestones:

• Compared to working retirees between the ages of 65 and 70, those under the age of 65 are more likely to have retired before reaching any of these milestones.

• Compared to working retirees with no formal education beyond high school, those with

more education are more likely to have retired before becoming eligible to receive retirement benefits from Social Security.

• Compared to those with household incomes higher than $80,000, workers with lower

incomes are more likely to have retired after becoming eligible for Medicare.

• Similarly, working retirees who are widowed, divorced, or separated are more likely than those who are married to have retired after becoming eligible for Medicare.

Current Retirement Benefits When asked whether they are currently receiving retirement benefits, more than eight in ten (84%) working retirees report that they are either currently receiving at least one type of retirement benefit or that they have at some point received a retirement benefit as a lump sum payment. The most common type of retirement benefits reported are pension payments from a current or former employer (48%) followed by retirement benefits from Social Security (31%). Not surprisingly, working retirees are more likely than pre-retirees to be receiving, or to have received, any retirement benefits. However, approximately one in six (16%) working retirees have never received any retirement benefits. Additionally, about one in ten (11%) working retirees not only have never received retirement benefits, but are also not eligible for any such benefits. Coupled with the fact that the majority of working retirees retired before becoming eligible for benefits, this suggests that many working individuals who report having “retired” from a job do not equate retirement with the receipt of and/or eligibility for benefits.

Receipt of and/or Eligibility for Retirement Benefits Base: Working Retirees (364) Currently receiving

or received as lump sum

Not received/receiving, but Eligible

Not received/receiving, Ineligible

Pension payments for veterans 21% 1% 76% Payments from an IRA 18% 18% 63% Payments from a 401(k) or 403(b) 16% 10% 73% Payments from a Keogh retirement plan

5% 2% 93%

Pension payments provided by a current or former employer, excluding 401(k)s, 403(b)s, Keogh

48% 8% 43%

Retirement benefits from Social Security

31% 10% 59%

Other 11% 6% NA Any 84% 5% 11%

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Reasons for Working in Retirement More than two in five (44%) working retirees returned to work within six months after they retired, and about three in five (61%) returned to work within one year after they retired. When asked to identify major factors influencing their decision to work in retirement, working retirees—like pre-retirees— are initially more likely to point to non-financial considerations such as a desire to remain productive or useful (73%), a desire to stay mentally active (68%), and a desire to stay physically active (61%) than to a need for money (51%). However, similar to pre-retirees, when forced to identify only one major reason that they are working in retirement, working retirees are more likely to point to the need for money (35 %) than to any other motive examined.

Major Factors in Decision to Work in Retirement (Base: Working Retirees, n=364)

20%

20%

37%

44%

47%

49%

51%

61%

68%

73%

Need health benefitsPursue a dream

Learn new thingsHelp other peopleBe around people

Do something fun Need money

Stay physically activeStay mentally active


Question 32: “I’m going to read you several reasons why some people continue to work in retirement. For each one, I’d like you to tell me whether it was a major factor, a minor factor, or no factor at all in your decision to work in retirement.” For each item, chart shows the % of respondents who identified that item as a “major factor.”

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ONE Major Factor in Decision to Work in Retirement(Base: Working Retirees, n=364)

2%

3%

4%

5%

5%

6%

7%

8%

10%

14%

35%

Learn new thingsBe around people

Need health benefitsPursue a dream

Do something fun Don't know / Refused

Help other peopleStay physically active

Stay mentally activeBe productive or useful

Need money

Question 32a: “Which of the things we just talked about was the ONE major factor in your decision to work in retirement?” When naming the one major factor influencing their decision to work in retirement, the following groups differ from each other in key ways:

• Women are more likely than men to name the need for health benefits and the desire to be around people as their one major reason for working in retirement.

• Working retirees in their fifties are more likely than their older counterparts to report that

their one major reason for working is the need for money or the desire to pursue a dream, whereas those who are older are more likely to name the desire to help other people, the desire to remain physically active, or the desire to remain productive.

• Those with no formal education beyond high school are more likely than those with more

education to identify the need for money or the desire to stay physically active, whereas those with more education are more likely to cite the desire to pursue a dream, the desire to help other people, and the desire to remain productive.

• Compared to working retirees with lower household incomes, those with incomes of at

least $50,000 are more likely to identify the desire to remain productive.

• Self-employed working retirees are more likely than those who are not self-employed to name the desire to pursue a dream.

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Benefits and Employer Characteristics Important to Working Retirees When asked to rate the extent to which a variety of job attributes are important to them in their work, approximately half of working retirees indicate that the following attributes are “very important:”

• working in an environment where employee opinions are valued • being able to take time off to care for relatives • working for a company that lets its older employees remain employed for as long as they

wish to work Other attributes considered “very important” or “somewhat important” by at least two in three respondents include having new experiences, being able to learn new skills, and being able to set your own hours.

Importance of Selected Benefits and Employer Attributes in Retirement Work Base = Working Retirees (364) (Sorted by “very/somewhat important”)

Very

important %

Somewhat important

%


% Working in an environment where employee opinions are valued 53 29 82 Having new experiences 31 43 74 Being able to learn new skills 33 39 72 Being able to take time off to care for grandchildren, parents, or other relatives

46 26 72

Working for a company that lets its older employees remain employed for as long as they wish to work

45 25 69

Being able to set your own hours 40 26 66 Working for a company that offers employment opportunities to retirees

32 25 57

Being able to work a reduced schedule for a period of time before you retire completely

30 26 56

Working for a company that offers a good pension plan 30 19 49 Working for a company that offers health benefits to retirees 34 12 46 Working for a company that offers good health benefits 31 13 44 Being able to work from home 19 16 35 Working for yourself or starting your own business 22 10 31 Question 36: “Now, I am going to read you a list of different types of things that some people consider when selecting a job. Thinking about your personal situation and your preferred work environment, as I read each of the following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work.” The degree of importance attached to the above attributes varies among the following groups of working retirees:

• Women are more likely than men to desire the ability to set their own hours. • Working retirees aged 55 to 59 are more likely than their older counterparts to attach

importance to good employer-provided health benefits.

• Compared to those with a post-graduate degree, those with less education are more likely to value health benefits for retirees, the ability to take time off to care for relatives, and the ability to set their own hours.

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• Compared to married individuals, those who are divorced, separated, or widowed are more likely to desire employer-provided health benefits.

• Self-employed individuals are more likely than working retirees who are working for

someone else to value the ability to set their own hours, work from home, and work for themselves. In contrast, those who are not self-employed are more likely to value good health benefits and pension plans, as well as employers who value employee opinions and who let older employees remain employed for as long as they wish to work.

Valued Intangibles in Retirement Work When asked to rate the extent to which a series of intangible benefits are important to them in their current jobs, working retirees identify keeps you mentally active as the most important intangible advantage to working in retirement, with close to three in four (74%) identifying this as “very important” and almost all (98%) identifying this as either “very important” or “somewhat important.” Other intangible job characteristics classified as “very important” by more than half of working retirees include:

• makes you feel useful • is fun or enjoyable • lets you interact with other people • lets you help other people • keeps you physically active • enables you to support yourself and your family

Interestingly, although more than half (57%) of pre-retirees say that it will be “very important” to them to have a retirement job that is not too stressful, today’s working retirees (45%) are less likely to view low stress as a “very important” element of their preferred work environment.

Importance of Selected Job Characteristics in Retirement Work

Base= Working retirees (364) (Sorted by “very/somewhat important”)

Very Important %

Somewhat Important %

Very / Somewhat Important %

Keeps you mentally active 74 23 98 Is fun or enjoyable 68 27 95 Makes you feel useful 70 26 95 Lets you interact with other people 61 31 92 Keeps you physically active 56 33 89 Lets you help other people 58 31 89 Makes use of your education 47 35 82 Enables you to support yourself and your family 55 23 79 Is not too stressful 45 29 74 Is not too physically demanding 33 39 71 Makes use of your previous work experience 41 29 70 Is your dream job 24 25 50 Question 37: “And, thinking again about your preferred work environment, as I read each of the following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work.” Percentages are rounded to the nearest percentage point.

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Certain groups of working retirees are more likely than others to feel that the above issues are important to them. The key differences are as follows:

• Women are more likely than men to say that it is important that their retirement job is not too stressful and not too physically demanding.

• Compared to working retirees with higher education levels, those with less education are

more likely to value work that is not too stressful and keeps them physically active, whereas those with higher education levels are more likely to desire a retirement job that is their dream job, lets them help other people, makes use of their education, and makes use of their previous work experience.

• Those with higher incomes are more likely than those with lower incomes to value work

that makes use of their education.

• Compared to those who are working for someone else, working retirees who are currently self-employed are more likely to attach importance to engaging in retirement work that is their dream job.

Type of Work In Which Working Retirees Are Currently Engaged Working retirees are most likely to hold jobs in professional fields (24%). However, they are also working as skilled and semi-skilled labor (15%), service and protective workers (14%), clerical workers (11%), salespeople (10%), technicians and supervisors (8%), and executives and managers (7%). Compared to other working retirees, retirees who are self-employed are less likely to hold jobs as clerical workers and as technicians and supervisors.

Type of Work In Which Working Retirees Are Engaged Base = Those who have retired from a job

(364) Employed by someone else

(292)

Self-Employed (72)

Total (364)

Professional specialty 26% 19% 24% Skilled and semi-skilled labor 16% 13% 15% Service and protective workers 14% 16% 14% White collar / clerical (non-supervisory) 13% 1% 11% Sales 10% 10% 10% Technician / minor administrative 10% 1% 8% Executive / Administrative / Management 7% 4% 7% Owner – small retail store / business -- 19% 4% Farmer * 6% 1% Unskilled labor * 1% * Don’t know / Refused 3% 10% 5% Question 26: “Now that you are retired, what type of work are you doing exactly?” *= Less than 0.5% Statistically significant differences between those who are self employed and those who work for someone else are represented by bold font.

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Specific Occupations Currently Held by Working Retirees The specific occupations in which working retirees are most likely to be engaged include teaching (10%), office support (7%), management (5%), and driver or courier (5%). These and the other lines of work identified most frequently as current retirement jobs are listed below. Of the specific jobs currently held by retirees who are working for someone other than themselves, the following are the most common: teaching (13%), office support (9%), manager / assistant manager (6%), and driver or courier (5%). The jobs in which self-employed retirees are most likely to be engaged include consulting (10%), real estate (9%), farming and ranching (6%), and private investigation (6%).

Most Common Jobs for Today’s Working Retirees * Base: All working retirees (364) Teaching– teacher, teaching assistant, substitute teacher, college professor, seminar instructor

10%

Office support / clerical work – administrative assistant, secretary, receptionist, clerk

7%

Manager / supervisor / assistant manager 5% Driver / courier (other than truck driver) 5% Consulting 3% Truck driver 3% Manufacturing / assembly line / factory work 3% Home improvement / home repair / handyman 3% Security guard / security 2% Sales (unspecified) 2% Real estate agent / real estate appraiser 2% Retail sales – sales associate, unspecified work in a department store 2% Nursing – nurse, nursing assistant 2% Work related to outdoors / recreation / sports – park ranger, coach, fitness center work

2%

Question 26: “Now that you are retired, what type of work are you doing exactly?” *Table shows those job types mentioned by at least two % of all working retirees. Together, the above job types represent those mentioned by 51% of all 364 working retirees. Percentages are rounded to the nearest percentage point.

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Most Common Jobs for Working Retirees Who Are NOT Self-Employed*

Base: Working retirees who are NOT self-employed (292) Teaching– teacher, teaching assistant, substitute teacher, college professor, seminar instructor

13%

Office support / clerical work – administrative assistant, secretary, receptionist, clerk

9%

Manager / supervisor / assistant manager 6% Driver / courier (other than truck driver) 5% Manufacturing / assembly line / factory work 3% Truck driver 3% Security guard / security 3% Sales (unspecified) 3% Home improvement / home repair / handyman 3% Retail sales – sales associate, unspecified work in a department store 3% Nursing – nurse, nursing assistant 3% Work related to outdoors / recreation / sports – park ranger, coach, fitness center work

2%

Question 26: “Now that you are retired, what type of work are you doing exactly?” *Table shows those job types mentioned by at least two % of working retirees who are not self-employed. Together, the above job types represent those mentioned by 54% of the 292 working retirees who are NOT self-employed. Percentages are rounded to the nearest percentage point.

Most Common Jobs for Self-Employed Retirees* Base: Working retirees who are self-employed (72) Consulting 10% Real estate agent / real estate appraiser 9% Farming and ranching 6% Private investigation 6% Driver / courier (other than truck driver) 6% Landscaper / groundskeeper 5% Insurance – insurance agent, insurance investigator 5% Question 26: “Now that you are retired, what type of work are you doing exactly?” *Table shows those job types mentioned by at least 4% of self-employed working retirees. Together, the above job types represent those mentioned by 46% of the 72 working retirees who are self-employed. Percentages are rounded to the nearest percentage point. Current Retirement Work vs. Pre-Retirement Work: Similar or Different? Just over half (54%) of today’s working retirees describe their current jobs as either entirely or fairly different from their pre-retirement careers. In fact, almost half (47%) indicate that their current work is entirely different from the work that they did prior to retirement, and another seven percent indicate that their current work is fairly different. Fewer than half (45%) say that their retirement work is similar (29%) or identical (16%) to their pre-retirement work. Furthermore, of working retirees who are not self-employed, more than eight in ten (82%) are not working for the same employer that they were working for before they retired.

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The following groups of working retirees are more likely than other working retirees to describe their current retirement job as entirely different from the job they held prior to retirement:

• men • working retirees who don’t hold a post-graduate degree or who have household

incomes under $50,000 • working retirees who are currently employed as service and protective workers

The groups of working retirees who are more likely than others to describe their current retirement job as identical to the job they held prior to retirement include:

• working retirees whose household incomes are higher than $50,000 • working retirees who are currently in professional jobs

Compared to working retirees currently in other occupations, those who are in the following occupations are more likely to describe their jobs as fairly different or entirely different from their pre-retirement jobs:

• child care provider • truck driver • housekeeper / janitor • retail sales • driver / courier • home improvement / home repair / handyman • real estate • security guard / security • work related to the outdoors, recreation, or sports

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Type of Pre-Retirement Occupation vs. Current Work and Work Preferences The fact that more than half of working retirees describe their current job as either entirely different or fairly different from their pre-retirement job is supported by comparing their pre-retirement jobs to their current jobs. Specifically, when asked to describe the type of job that they held prior to retirement, more than half of working retirees (57%) name a job that falls outside of their current occupational category; while only four in ten (41%) name a job that is in the same general occupational category as their current retirement job. As shown in the two tables below, working retirees in certain types of occupations are more likely than those in other types of jobs to currently hold a job that is similar to their pre-retirement job. The highlights are as follows:

• Relatively few working retirees who currently hold jobs in sales, including jobs as retail sales associates and other sales-related positions, worked in sales-related occupations immediately prior to retirement.

• Similarly, working retirees who are currently working as clerical workers or as service

and protective workers are likely to have had occupations in other fields immediately before retirement.

• The majority of working retirees who are currently in professional positions worked in

professional occupations before retiring. Similarly, many of those currently in skilled, semi-skilled, and unskilled labor positions are likely to have held labor-related jobs prior to retirement.

When asked to name the one major reason that they are working in retirement, working retirees across all occupation groups are most likely to name the need for money. Although the desire to be useful, mentally active, and physically active are also important to certain types of workers, they are not consistently important across all occupations. Working retirees in most occupations feel that the following employer attributes are among the most important to them: an employer who values employee opinions, allows employees to take time off to care for relatives, offers new experiences, retains older employees for as long as they wish to work and offers opportunities to learn new skills. Additionally, working retirees across all types of occupations indicate that the most important intangible benefits of retirement work include the following: keeps you mentally active, is fun or enjoyable, and makes you feel useful.

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Working Retirees’ Current Work and Preferences vs. Pre-Retirement Work

(Table 1 of 2) Current type of retirement job:

Executive / Management (n=23)**

Professional Specialty (n=99)

Technician / Minor Administrative (n=29)**

Small business owner / Farmer (n=17)**

Top current retirement jobs*:

Manager, accountant

Teacher, consultant, nurse, private investigator, minister, counselor or psychologist, computers

Secretary / receptionist/ office work, supervisor, research assistant, manufacturing or factory work, operations

Farmer, own business (unspecified), real estate

Top pre-retirement job types:

Exec / Mgmt (43%) Sales (17%) Service /protect (17%)

Professional (55%) Tech/ minor admin (12%) Service / protect (12%)

Tech / minor admin 39% Service /protect (16%)

Labor (31%) Service / protect (25%) Farmer (12%)


Money (53%), Useful (13%), Mentally active (8%)

Money (21%), Useful (20%), Mentally active (17%)

Money (33%), Mentally active (18%), Physically active (16%)

Money (44%), Pursue dream (12%), Useful (12%)


Values employee opinions (91%), Good health benefits (83%), Time off for care giving (82%), Good pension plan (82%), Retains older employees (74%)

Values employee opinions (85%), Learn new skills (72%), New experiences (65%), Retains older employees (63%), Time off for care giving (58%)

Values employee opinions (91%), Retains older employees (89%), New experiences (88%), Employs retirees (86%), Learn new skills (84%)

Set own hours (95%), Time off for care giving (87%), Work from home (87%), Work for self (81%), New experiences (75%)


Mentally active (100%), Feel useful (97%), Use education (93%), Fun (91%), Support yourself (89%)

Mentally active (99%), Feel useful (98%), Interact with people (95%), Fun (94%), Use education (93%)

Mentally active (100%), Feel useful (98%), Fun (94%), Physically active (93%), Interact with people (93%), Use education (93%)

Mentally active (100%), Fun (100%), Feel useful (100%), Physically active (94%), Help people (94%)

*The “top current retirement jobs” row includes the current jobs mentioned most frequently by working retirees in each occupational category. Only jobs mentioned by at least 4% of respondents in each occupational category are shown. ** Results for the asterisked groups should be interpreted with caution due to very small sample sizes.

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Working Retirees’ Current Work and Preferences vs. Pre-Retirement Work (Table 2 of 2)

Current type of retirement job:

White Collar, clerical / non-supervisory (n=43)

Service and Protective (n=49)

Sales (n=35)**

Labor (n=54)

Top current retirement jobs:*

Secretary/ receptionist/ office work, customer service, bookkeeper, teaching assistant, mail carrier

Security guard, driver or courier, housekeeper or janitor, child care provider, landscaper or groundskeeper, other work related to outdoors or recreation

Sales other than retail, retail sales associate, real estate agent, insurance agent, cashier, car sales

Truck driver, driver or courier (other than truck driver), home repair / handyman, manufacturing or factory work

Top pre-retirement job types:

W.C., clerical (31%), Service / protect (14%), Labor (12%), Professional (12%)

Service / protect (35%), Labor (26%)

Tech /minor admin (24%), Service / protect (21%), Professional (18%)

Labor (56%)


Money (35%), Useful (16%), Health benefits (14%)

Money (42%), Useful (15%), Physically active (13%)

Money (49%), Fun (13%), Help people (9%)

Money (29%), Physically active (20%), Useful (12%)


Values employee opinions (86%), New experiences (85%), Time off for care giving (82%), Learn new skills (79%), Retains older employees (79%)

Values employee opinions (87%), New experiences (83%), Time off for care giving (72%), Set own hours (71%), Learn new skills (68%)

Time off for care giving (86%), Values employee opinions (84%), Set own hours (83%), Retains older employees (79%), New experiences (75%)

Values employee opinions (75%), Retains older employees (74%), New experiences (73%), Learn new skills (66%), Time off for care giving (66%)


Mentally active (98%), Help people (98%), Feel useful (96%), Fun (95%), Interact with people (94%)

Fun (99%), Mentally active (98%), Physically active (95%), Feel useful (94%), Help people (87%)

Mentally active (100%), Interact with people (94%), Fun (93%), Help people (91%), Feel useful (91%)

Physically active (98%), Mentally active (97%), Feel useful (97%), Fun (94%), Interact with people (90%)

*The “top current retirement jobs” row includes the current jobs mentioned most frequently by working retirees in each occupational category. Only jobs mentioned by at least 4% of respondents in each occupational category are shown. ** Results for the asterisked groups should be interpreted with caution due to very small sample sizes.

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Continued Learning Just over half (55%) of working retirees say that they have had to learn new skills to perform their current job. The most common steps working retirees have taken to sharpen their skills and help them perform their job responsibilities include receiving training provided by their employer (51%) and reading on their own (54%). However, approximately one in four (27%) have taken a course or courses at a college or trade school to help them with their job responsibilities.

Steps You've Taken to Help You Perform Your Job (Base: Working Retirees, n=364)

1%

13%

27%

31%

39%

43%

51%

54%

Don't Know/ Refused

Nothing

Took course(s) at a college or school

Information gathering through Internet

Attended other seminar(s) or training

Talked to people in field / Networked

Training provided in the workplace

Reading on your own

Question 39: “Please tell me whether or not you’ve taken any of the following steps either before starting your current job, or since starting it, in order to help you perform your job responsibilities.” The following groups differ from each other with respect to the extent to which they have engaged in these activities:

• Working retirees younger than 65 are more likely than those who are older to have gathered information through the Internet.

• Compared to working retirees with no formal education beyond high school, those with

more education are more likely to have gathered information through the Internet, taken a college or trade school course, attended a seminar, and networked.

• Working retirees with higher household incomes ($50,000 or higher) are more likely than

those with lower incomes to have gathered information through the Internet, networked, and engaged in reading on their own.

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Retirement Work vs. Expectations Approximately seven in ten (69%) working retirees report that, even before they retired, they expected that they would work in retirement.

"Before you retired, did you expect that you would work in retirement?"

(Base: Working Retirees, n=364)

Yes, 69%

No, 26%

Not sure, 5%

However, of these respondents who expected to work after retiring, three in ten (30%) say that they are not currently doing the type of work that they had expected to do in retirement. When asked about the obstacles that prevented them from securing that type of work, these respondents named lack of job opportunities where they live (42%) as the most common obstacle. Other obstacles named less often, but by close to one in five respondents who are not doing the work they expected, include physical demands of the work (23%), lack of necessary skills or education (22%), the work didn’t pay enough (22%), and lack of jobs with flexible hours (18%).

Barriers to Securing Expected Retirement Work Base = Working retirees who are not doing the type of work expected in retirement (72)

Yes %

Lack of job opportunities where you live 42 Physical demands of the work 23 Lack of necessary skills or education 22 The type of work you wanted to do didn’t pay enough 22 Lack of jobs with flexible hours 18 Lack of money needed to start your own business 16 Care giving responsibilities for relatives 12 Health problems 11 Age discrimination 6 Question 35: “I am going to read you a list of things that some people may consider as barriers or obstacles to doing the type of work they expected to do in retirement. For each one, please tell me whether or not you think this was an obstacle for you.”

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Willingness to Take Jobs with High Projected Growth9 When asked to rate their willingness to take a variety of jobs in retirement that are projected to grow rapidly over the next few years, more than four in ten working retirees indicate that they would be either “very willing” or “somewhat willing” to take a job as a teacher (49%), a customer service representative (46%), or a teaching assistant (44%). Approximately three in ten say they would be willing to work as a real estate agent (32%), computer support specialist (32%), a landscaper or groundskeeper (30%), a truck driver or courier (30%), or a retail salesperson (29%). Overall, more than nine in ten (91%) working retirees say that they would be “very willing” or “somewhat willing” to take a job in at least one of the eighteen rapidly growing occupations that were included in the survey. In fact, several of the jobs which working retirees indicate a relatively high willingness to take are also those jobs in which working retirees are most likely to be found. Not surprisingly, reported willingness to take these jobs varies based on current occupation; and willingness to take a specified type of job is generally higher among those who are currently working in a similar job. For example, those currently in professional occupations—including current teachers—are most likely to say that they would be willing to be a teacher. Moreover, current clerical workers are most likely to say that they would be willing to be a secretary, a bookkeeper, or an accounting clerk. However, certain workers are clearly willing to consider jobs that are unlike their current jobs. For example, those who are currently working as laborers express a relatively high willingness to consider service-related jobs such as food service worker; janitor, housekeeper, or maid; and security guard. Furthermore, professionals are relatively willing to consider child care positions.

9 Jobs titles included in question 18 and 40 of the survey represent a selection of occupations projected to grow fastest from 2000 to 2010, occupations projected to experience the largest numerical increases in employment during the same time period, or occupations with the greatest replacement needs for workers retiring from 1998 to 2008. Job titles were adapted as necessary to facilitate respondent comprehension. Sources: (1) U.S. Department of Labor Bureau of Labor Statistics’ Occupational Outlook Handbook, 2002/2003 Online Edition. (2) Arlene Dohm, “Gauging the Labor Force Effects of Retiring Baby Boomers,” Monthly Labor Review (July 2000), 17-25.

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Willingness to Take Jobs with High Projected Growth

Base = Working Retirees(364)

Very willing

%

Somewhat willing

%

Very / Somewhat willing %

Working retirees who are most willing, based on current occupation*

Teacher 25 24 49 Professionals Customer service representative 9 36 46 ** Teaching assistant 17 27 44 Professionals Real estate agent 7 25 32 ** Computer support specialist 11 21 32 ** Truck driver or courier 8 22 30 Labor Landscaper or groundskeeper 7 23 30 Labor

Service / protective workers Retail salesperson 6 22 29 ** Bookkeeper or accounting clerk 9 18 27 Clerical workers Secretary or receptionist 7 19 25 Clerical workers Cashier 3 22 25 ** Security guard 7 18 24 Service /protective workers

Labor Child care worker 4 15 20 Service /protective workers

Professionals Nursing assistant or home health care aide

5 12 17 **

Food service worker 3 13 16 Labor Janitor, or housekeeper, or maid 3 13 15 Service / protective workers

Labor Insurance agent 3 9 12 ** Waiter or waitress 1 10 11 ** Question 40: “Now, I’m going to read you a list of some types of jobs that are expected to have a lot of openings in the future. As I read each job, please tell me whether you would be very willing, somewhat willing, not too willing, or not at all willing to do this type of work for pay in your retirement.” *Column lists those types of occupations which contain working retirees who are more likely than those in other occupations to report that they would be very willing or somewhat willing to take the specified job. Respondents currently in sales positions, executives / managers, technicians / minor administrators, farmers and small business owners are not shown in this column as the number of respondents in each of these occupations is too small to be compared to other occupations. ** Two asterisks indicate that working retirees’ willingness to take the specified job did not vary in a statistically significant manner by current occupation.

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IV. WHEN WILL TODAY’S OLDER WORKERS STOP WORKING? Of all workers between the ages of 50 and 70, including today’s working retirees and workers who have not yet retired, just over half (53%) expect that they will stop working for pay completely before the age of 70. However, close to one in five expect to continue working into their eighties or beyond as illustrated by the 18% who say that they will work until they are at least 80 years old, as long as they’re able, or that they will never stop working. Compared to other respondents, pre-retirees who expect to either work in retirement or never retire will stay in the workforce longer. Specifically, of pre-retirees who expect to either work in retirement or never retire, only four in ten (40%) expect to stop working completely before the age of 70. In contrast, 49% of today’s working retirees and 86% of pre-retirees who don’t expect to work in retirement plan to stop working before reaching 70. Not surprisingly, it appears that pre-retirees who do not plan to work in retirement are less likely than other respondents to work into their eighties and beyond. Specifically, although only 2% of pre-retirees who won’t work in retirement expect to retire in their eighties or beyond; approximately 20% of working retirees and pre-retirees who plan to work in retirement expect to work into their eighties, as long as they’re able, or expect that they’ll never stop working.

When They Will Stop Working* (Base: All Respondents, excluding pre-retirees who do not know whether they will work in

retirement.) Pre-retirees

Between the ages of . . .

Do NOT Plan to Work in Retirement* (n=489)

Plan to Work in Retirement or Never Expect to Retire** (n=1,101)

Working Retirees ** (n=364)

Total (n=1954)

50 and 54 1% *** 1% *** 55 and 59 13% 2% 2% 5% 60 and 64 37% 10% 19% 18% 65 and 69 36% 28% 28% 30%

Before age 70 86% 40% 49% 53% 70 and 74 9% 23% 19% 19% 75 and 79 2% 11% 9% 8%

70 – 79 11% 34% 28% 27% 80 or older 1% 15% 12% 11% Never expect to stop working / retire (not read)

1% 5% 2% 4%

As long as I’m able to (not read)

NA 3% 6% 3%

80 + / never/ as long as able 2% 23% 21% 18% Don’t Know (not read) 1% 2% 2% 2%

Total 100% 100% 100% 100% Percentages are rounded to the nearest percentage point. * For pre-retirees who do not plan to work in retirement, it is assumed that the age at which they will stop working is the same as the age at which they expect to begin their retirement. For this reason, their responses to question 4 (“At what age do you expect to begin your retirement?”) are shown above. ** For pre-retirees who expect to either work in retirement or never retire and working retirees, responses to questions 19 (pre-retirees) and 41(retirees) are shown above. (“At what age do you expect to stop working for pay completely?”) *** = less than 0.5%.

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V. KEY WORKING IN RETIREMENT GROUPS: A SEGMENTATION ANALYSIS While many factors shape the retirement work decisions and expectations of 50-70 year old workers who are either planning to work in retirement or already doing so, certain factors are more critical to some workers than to others. By segmenting respondents who plan to work in retirement and those who are already engaged in retirement work by their reasons for considering retirement work and their attitudes toward this work, greater insight is provided into their needs and desires. These insights will be important to employers interested in attracting and retaining older workers who are approaching--or have already passed--conventional retirement age. Among pre-retirees who are planning to work in retirement and retirees who are still working, three distinct groups exist with divergent attitudes toward retirement work: Balancers, Work Enthusiasts, and Earners. The following is a description of each group and an explanation of the key differences among them. A. Walking the Tight Rope: Balancers Who are they? Balancers represent the largest group, including a full 50 percent of pre-retirees who plan to work in retirement and working retirees. Compared to other two groups, Balancers are somewhat younger and are more likely to include baby boomers (65%). Balancers are also less likely to be retired (9%). In fact, while more than half (57%) of pre-retirees fall into this group, only two in five (21%) retirees are in this group. Balancers are also the only one of the three groups in which women represent the majority (53%). They are also more likely to have children of their own living at home (38%). Additionally, they are less educated, with only 12 percent having started or completed post-graduate studies, and less likely to be in a high-income bracket. What are they seeking in retirement work? Balancers’ primary motivations for working in retirement are varied and include several highly valued factors, such as the desire to stay mentally and physically active, the desire to be productive, and the need for health benefits and money. However, despite the variety of motivations identified, financial considerations are central to Balancers’ decision to engage in retirement work as illustrated by the fact that close to half (44%) name money or health benefits as their one major motivation for working in retirement. The fact that financial considerations are the key drivers of their decision to work in retirement does not preclude them from acknowledging and actively seeking out the other ways in which work can enrich their retirement years. For example, Balancers also place a relatively high degree of importance on job and workplace characteristics such as learning new skills, staying physically active, and fun and enjoyment. However, as alluded to by their name, Balancers are more likely than the other groups to expect that their retirement years will be characterized by the need to balance work demands with those of family responsibility and leisure pursuits. Specifically, this group is more likely than the other two groups to place a high value on receiving time off for care giving responsibilities, having the option to work a reduced schedule prior to retirement, and having retirement work that is not too stressful. They also value stability and are more likely than the other groups to place a high

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degree of importance on employers who let their older employees remain employed for as long as they wish to work. Compared to the other two groups, pre-retirees in this group are more likely than those in the other groups to anticipate that obstacles such as insufficient pay, lack of skills or education, age discrimination, lack of jobs with flexible hours, care giving responsibilities, and lack of job opportunities where they live, may prevent them from obtaining their preferred type of retirement job. When pre-retirees in this group are asked to describe their personal definition of retirement, they are more likely than their counterparts in both other groups to report that their vision of retirement includes traditional notions such as a chance to have more fun and a chance to relax as well as having to do some kind of work to help pay the bills. B. Live to Work: Work Enthusiasts Who are they? Work Enthusiasts are the second largest group, accounting for close to three in ten (28%) of all pre-retirees who plan to work in retirement and working retirees. Approximately one-third (32%) of Work Enthusiasts are working retirees, while the remaining 68 percent have never retired. This is one of two groups which contains a disproportionately high share of retirees, meaning that working retirees are more likely than pre-retirees to be Work Enthusiasts. Specifically, while just over two in ten (23%) pre-retirees fall in this group, more than four in ten (42%) working retirees are in this group. Approximately half (53%) of this group are boomers. Work Enthusiasts are primarily men (62%). Compared to the other two groups, Work Enthusiasts are the most affluent and the most educated, with about one in three (34%) having started or completed post-graduate studies. In terms of their occupations, they are more likely than the other groups to hold professional positions and to be self-employed. Although they are as likely as Balancers to be parents, they are less likely to have children of their own at home. What are they seeking in retirement work? The primary distinction between Work Enthusiasts and the other two groups is that financial considerations, such as money and health benefits, play virtually no role in this group’s decision to work in retirement. Similar to Balancers, Work Enthusiasts’ primary motivations for working in retirement include a desire to stay mentally and physically active and a desire to be productive. However, for Work Enthusiasts, the importance of these factors significantly outweighs the importance of financial considerations. For example, while two-thirds (66-67%) of those in the other two groups name the need for money as a major motivation behind their decision to work in retirement, fewer than one in five (19%) Work Enthusiasts feel this way. Similar to Balancers, Work Enthusiasts also place a relatively high degree of importance on the ability to set their own hours. However, compared to Balancers, Work Enthusiasts place a lower priority on having the option to take time off for care giving responsibilities and being able to work a reduced schedule before retirement. As connoted by their name, Work Enthusiasts embrace work with more enthusiasm than their counterparts in the other groups. Not only do they plan to work longer than the other groups, but

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pre-retirees in this group are more likely than those in the other groups to view working for enjoyment, not money as an integral part of their personal definition of retirement. Compared to the other two groups, pre-retirees in this group are also more likely to plan to engage in retirement work that is entirely different from their current job and are less likely to believe that obstacles may prevent them from landing their desired job. Furthermore, Work Enthusiasts are also the most career-oriented as illustrated by the fact that the retirees in this group are more likely than those in the other groups to say that they retired after achieving career-related goals. When asked to describe their personal definition of retirement, not only are pre-retirees in this group more likely to indicate that retirement for them includes working for enjoyment, not money, but they are also less likely than the other two groups to expect that retirement will cause them to feel less useful or less productive. C. Work to Live: Earners Who are they? Earners account for just under one-fourth (23%) of all pre-retirees who plan to work in retirement and working retirees, making this the smallest of the three groups. Similar to Work Enthusiasts, approximately one-third of Earners are working retirees, and the majority (63%) are men. Boomers represent just over half (57%) of this group. Although Earners are more educated and affluent than Balancers, they are less educated and affluent than Work Enthusiasts. Retirees who are Earners are more likely than retirees in the other two groups to have retired before the age of 50 and are less likely to have retired after reaching certain retirement savings goals. What are they seeking in retirement work? The primary distinction between Earners and the other two groups is that Earners’ motivations for and attitudes toward working in retirement are significantly more focused on financial considerations to the exclusion of most non-financial considerations. Specifically, more than six in ten (62%) Earners cite money or health benefits as their one major reason for working in retirement. Additionally, of 25 job and employer features rated by all respondents, enables you to support yourself and your family is the only job feature that was rated as “very important” by a majority of Earners. In contrast, many of the non-financial features, such as keeps you mentally active, makes you feel useful, and is fun or enjoyable, which were rated highly by both Work Enthusiasts and Balancers were significantly less important to Earners. Furthermore, when asked to describe their personal definition of retirement, pre-retirees in this group are less likely than their counterparts in the other two groups to indicate that retirement for them will include volunteer or charity work and a chance to travel.

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Key Working in Retirement Groups – Profiles (Working Retirees and Pre-Retirees Who Expect to Work in Retirement)

Balancers (617)

Earners (295)

Work Enthusiasts (381)

Reason for Working in Retirement

Money, Involvement, and Enjoyment

Money Involvement and Enjoyment

Important Features of Retirement Work

Pay, Benefits, Flexibility, Reduced Scheduling, Involvement, Ability to Contribute

Pay and Benefits Involvement, Ability to Contribute, Flexibility

% who expect to stop working by age 74:

70% 77% 57%

Top expected retirement jobs (pre-retirees):

Similar to other groups


More likely to expect professional jobs (29%)

Top current retirement jobs (working retirees):



More likely to hold professional jobs (39%)

Basic Demographics: Gender 46% men 63% men 62% men Average age 56

(65% are Boomers) 57 (57% are Boomers)

58 (53% are Boomers)

Children at home 38% 28% 29% 4-Year College Degree 26% 33% 49% HH Income of $80,000 or more

18% 26% 40%

Top current jobs (pre-retirees):



More likely to be professionals (28%)

Top pre-retirement jobs (working retirees):



More likely to have been professionals (27%)

Working Retirees 9% 33% 32% Differences in pre-retirees’ personal definition of retirement: Chance to relax 87% 76% 79% Doing volunteer work 69% 58% 71% Chance to travel 81% 63% 81% Chance to have more fun

91% 77% 82%

Feeling less useful 32% 36% 16% Having to work to help pay the bills

72% 58% 39%

Working for enjoyment, not money

67% 54% 81%

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Key Working in Retirement Groups: Major Factors in Decision to Work in Retirement

(Working Retirees and Pre-Retirees Who Expect to Work in Retirement)

53%

66%

9%

10%

23%

12%

51%

29%

55%

54%

19%

19%

22%

49%

65%

60%

84%

75%

88%

82%

79%

67%

43%

65%

67%

75%

83%

80%

94%

91%

Need health benefits

Need money

Pursue a dream

Learn new things

Be around people

Help other people


Do something fun

Stay mentally active

Stay physically active

Earners Work Enthusiasts Balancers

Questions 6/32: “Now, I’m going to read you several reasons why some people continue to work in retirement. For each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision to work in retirement.” For each item, chart shows the percentage of respondents in each working in retirement group who identified that item as a “major factor.”

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Key Working in Retirement Groups:

Importance of Selected Benefits and Employer Characteristics (% of respondents in each group who rated each item as “very important”)

Base= Pre-retirees who plan to work in retirement and working retirees (1293)

Balancers

(617)

Earners

(295)

Work Enthusiasts

(381) Being able to learn new skills 54% 10% 36%

Working in an environment where employee opinions are valued

78% 42% 55%

Having new experiences 49% 8% 44% Working for a company that lets its older employees remain employed for as long as they wish to work

72% 46% 37%

Working for a company that offers good health benefits 74% 48% 14% Being able to take time off to care for grandchildren, parents, or other relatives

74% 34% 38%

Working for a company that offers a good pension plan 61% 38% 10% Being able to set your own hours 62% 34% 49% Being able to work from home 37% 17% 23% Being able to work a reduced schedule for a period of time before you retire completely

55% 21% 19%

Working for a company that offers employment opportunities to retirees

66% 40% 24%

Working for a company that offers health benefits to retirees 73% 47% 15% Working for yourself or starting your own business 31% 15% 33% Question 16 /36: “Now, I am going to read you a list of different types of things that some people consider when selecting a job. Thinking about your personal situation and (the work that you may do in retirement /your preferred work environment), as I read each of the following items, please tell me whether it represents something that (will be/ is) “very important,” “somewhat important,” “not too important,” or “not at all important” to you (when you are working in retirement /in your work).”

Key Working in Retirement Groups: Importance of Selected Job Characteristics

(% of respondents in each group who rated each item as “very important”) Base= Pre-retirees who plan to work in retirement and working retirees (1293)

Balancers (617)

Earners (295)

Work Enthusiasts (381)

Is not too stressful 69% 40% 42% Is not too physically demanding 47% 28% 20% Is your dream job 39% 16% 29% Is fun or enjoyable 83% 40% 77% Keeps you mentally active 89% 48% 84% Keeps you physically active 72% 33% 60% Makes you feel useful 85% 45% 77% Lets you interact with other people 69% 27% 67% Lets you help other people 67% 24% 60% Makes use of your education 58% 33% 45% Makes use of your previous work experience 55% 40% 39% Enables you to support yourself and your family 75% 61% 30% Questions 17 /37: “Again, please think about the type of work that you may do in retirement. As I reach each of the following items, please tell me if it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement.” / “And thinking again about your preferred work environment, as I read each of the following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work.”

66

APPENDICES: The remaining sections of the report include the appendices: VI. Appendix A: Annotated Questionnaire................................................67 VII. Appendix B: Sampling.......................................................................139

VIII. Appendix C: Occupation Classification Methodology ......................141

IX. Appendix D: Technical Explanation of Segmentation Analysis........149

67

VI. APPENDIX A: ANNOTATED QUESTIONNAIRE

Includes Weighted Results Based on 2,001 Interviews – 7/23/03

A12 Are you currently. . . ? (READ LIST)

Base = Total respondents (2,001)

Working part-time..................................................................16%

Working full-time ..................................................................83%

Working part of the year only/doing seasonal work.............. 1%

A13 Have you ever retired from a job? Base = Total respondents (2,001)

Yes .........................................................................................15% No...........................................................................................85%

A14 Are you self-employed or are you employed by someone else? (INTERVIEWER: If respondent claims to be both self-employed and employed by someone else, ask: “Which is your primary job?”) Base = Total respondents (2,001)

SELF-EMPLOYED ...............................................................20% EMPLOYED BY SOMEONE ELSE ....................................80% REFUSED.............................................................................. *

* = Less than .5%

68

I. RESPONDENTS WHO SAY THAT THEY HAVE NOT RETIRED FROM A JOB ASK Q1 – Q21 IF CODE ‘2’ IN A13 Q1 Different people expect to do different things in retirement. When you think about your

own future retirement, how much is each of the following part of your personal definition of retirement: very much, somewhat, only a little, or not at all? If you never plan to retire, please tell me. (READ ITEMS) (ROTATE ITEMS)

Very much..................................................................................4 Somewhat...................................................................................3 Only a little ................................................................................2 Not at all.....................................................................................1 Never plan to retire ....................................................................5 DK/Ref. ......................................................................................6

Base = Those who have never retired from a job (1,637) Very much

%

Some-what

%

Only a little %

Not at all %

Never planto retire

% DK/Ref

% a.) Receiving retirement benefits from social security or pension payments

49 23 7 5 15 1

b.) Slowing down and working fewer hours or part-time

24 32 12 16 15 1

c.) A chance to stop working for pay completely

23 25 15 20 15 2

d.) Doing volunteer or charity work

19 39 14 13 15 1

e.) A chance to do things you never had time for

47 25 8 5 15 *

f.) Spending more time with family and friends

54 24 5 3 15 *

g.) A chance to relax 48 25 8 4 15 * h.) A chance to travel 38 28 11 8 15 * i.) A chance to have more fun 48 25 7 5 15 1 j.) Feeling less useful or less productive

7 14 14 49 15 3

k.) Having to do some kind of work to help pay the bills

15 28 18 24 15 1

l.) Working for enjoyment, not money

25 27 12 20 15 1

m.) A chance to leave your main career to try a different type of work

12 17 14 42 15 1

* = Less than .5%

69

Q1 Top 2 & Bottom 2 Summary Results

Base = Those who have never retired from a job (1,637) Very much /

Somewhat %

Only a little / Not at all

% a.) Receiving retirement benefits from social security or pension payments

72 12

b.) Slowing down and working fewer hours or part-time 56 29 c.) A chance to stop working for pay completely 48 36 d.) Doing volunteer or charity work 57 27 e.) A chance to do things you never had time for 72 13 f.) Spending more time with family and friends 78 7 g.) A chance to relax 73 12 h.) A chance to travel 67 19 i.) A chance to have more fun 73 11 j.) Feeling less useful or less productive 20 62 k.) Having to do some kind of work to help pay the bills 42 42 l.) Working for enjoyment, not money 53 32 m.) A chance to leave your main career to try a different type of work

28 56

Q2 Omitted Q3 Which of the following, if any, best represents what you plan to do during your retirement? (READ LIST, ALLOW ONE RESPONSE) Base = Those who have never retired from a job (1,637)

Start your own business or work for yourself, doing the same type of work you do now......................................................... 5% Start your own business or work for yourself, doing something different.................................................................. 5% Work part-time, doing the same type of work you do now ................................................................................... 24% Work part-time, doing something different ............................... 22% Work full-time, doing the same type of work you do now ......... 5% Work full-time, doing something different.................................. 2% Not work for pay at all ............................................................... 29% {Do not read}: Never expect to retire {skip to Q7}.................... 5% {Do not read}: Don’t know......................................................... 3%

70

Q4 At what age do you expect to begin your retirement? (INTERVIEWER: TRY TO GET EXACT AGE. ONLY USE AGE BREAKS BELOW AS A LAST RESORT.) Base = Those who will eventually retire (1,556) Mean age = 64.5

Between the ages of 50 and 54...................................................................................... 1% 55 and 59.................................................................................... 12% 60 and 64.................................................................................... 31% 65 and 69.................................................................................... 36% 70 and 74.................................................................................... 11% 75 and 79...................................................................................... 3% 80 or older .................................................................................... 3% Don’t Know {Do not read} ......................................................... 2% Never expect to retire {Do not read}........................................... 3%

Q5 I’m going to read you a list of things that might influence some people’s decisions

regarding when to retire. Thinking about your own situation, as I read each of the following statements, think about how important it is to you that each happens by the time you retire. Please tell me if it is “very important,” “somewhat important,” “not too important,” or “not at all important” to you.

How important is it to you that {INSERT FIRST ITEM} by the time you retire? {ROTATE ITEMS}

Very important ........................................................................4 Somewhat important ...............................................................3 Not too important....................................................................2 Not at all important .................................................................1 DK/Ref. ...................................................................................5

Base = Those who will eventually retire (1,556)

Very

important%

Some-what

important%

Not too

important%

Not at all important

% DK/Ref

% a.) You are eligible to receive retirement benefits from social security

66 19 8 7 *

b.) You are eligible to receive payments from a retirement savings plan such as a pension plan, a 401(k), IRA, or Keogh plan

71 17 4 7 1

71

Base = Those who will eventually retire (1,556)

Very

important%

Some-what

important%

Not too

important%


% DK/Ref

% c.) You are eligible for Medicare

60 23 8 8 1

d.) You are eligible for retiree health benefits

75 15 3 7 1

e.) You achieve certain retirement savings goals, or save a certain amount of money for retirement

64 26 5 4 *

f.) You accomplish certain career or job-related goals

29 33 19 18 1

* = Less than .5% Q5 Top 2 & Bottom 2 Summary Results

Base = Those who will eventually retire (1,556) Very /

Somewhat Important

%

Not too / Not at all important

% a.) You are eligible to receive retirement benefits from social security

85 15

b.) You are eligible to receive payments from a retirement savings plan such as a pension plan, a 40l(k), IRA, or Keogh plan

88 10

c.) You are eligible for Medicare 83 17 d.) You are eligible for retiree health benefits 89 10 e.) You achieve certain retirement savings goals, or save a certain amount of money for retirement

90 10

f.) You accomplish certain career or job-related goals 62 37

72

ASK Q6 IF CODES 1-6 IN Q3 (Plan to work in retirement) Q6 Now, I’m going to read you several reasons why some people continue to work in

retirement. For each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision to work in retirement. (ROTATE ITEMS)

Major factor ............................................................................3 Minor factor ............................................................................2 Not a factor at all.....................................................................1 DK/Ref. ...................................................................................4

Base = Those who plan to work in retirement (1,020)

Major factor

%

Minor factor

%

Not a factor at all

% DK/Ref

% a.) You’ll need the health benefits 66 21 13 1 b.) You need the money 54 38 8 1 c.) Desire to pursue a dream 32 45 22 1 d.) Desire to learn new things 50 39 10 * e.) Desire to be around people 58 34 8 * f.) Desire to help other people 59 36 5 * g.) Desire to remain productive or useful 77 20 3 * h.) Desire to do something fun or enjoyable 71 23 5 * i.) Desire to stay mentally active 87 10 2 -- j.) Desire to stay physically active 85 13 3 * * = Less than .5% Q6a Which of the things we just talked about is the ONE major factor in your decision to

work in retirement? Would you say the one major factor is. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q6. RECORD ONE RESPONSE ONLY.)

PROGRAMMER: ONLY SHOW ITEMS WITH A CODE ‘3’ RESPONSE IN Q6


You’ll need the health benefits ..........................................................17% You need the money ..........................................................................22% Desire to pursue a dream....................................................................3% Desire to learn new things..................................................................3% Desire to be around people ................................................................4% Desire to help other people ................................................................6% Desire to remain productive or useful................................................14% Desire to do something fun or enjoyable ...........................................5% Desire to stay mentally active ............................................................15% Desire to stay physically active..........................................................9% Don’t know (Do not read) .................................................................2% Refused ..............................................................................................1%

73

ASK Q7 IF CODE 8 IN Q3 (Never expect to retire) Q7 Now, I’m going to read you several reasons why some people choose not to retire. For

each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision to never retire. (ROTATE ITEMS)


Base = Those who never expect to retire (81) Major

factor %

Minor factor

%

Not a factor at all

% DK/Ref

% a.) You’ll need the health benefits 42 16 42 -- b.) You need the money 53 19 29 -- c.) Desire to pursue a dream 32 25 42 1 d.) Desire to learn new things 42 23 34 -- e.) Desire to be around people 43 24 33 -- f.) Desire to help other people 55 28 18 -- g.) Desire to remain productive or useful 70 20 10 -- h.) Desire to do something fun or enjoyable 58 17 25 -- i.) Desire to stay mentally active 73 17 10 -- j.) Desire to stay physically active 69 17 15 -- Q7a Which of the things we just talked about is the ONE major factor in your decision to

never retire? Would you say the one major factor is. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q7. RECORD ONE RESPONSE ONLY.)

PROGRAMMER: ONLY SHOW ITEMS WITH A CODE ‘3’ RESPONSE IN Q7

Base = Those who never expect to retire (81)

You’ll need the health benefits ..........................................................10% You need the money ..........................................................................24% Desire to pursue a dream....................................................................2% Desire to learn new things..................................................................2% Desire to be around people ................................................................6% Desire to help other people ................................................................11% Desire to remain productive or useful................................................14% Desire to do something fun or enjoyable ...........................................6% Desire to stay mentally active ............................................................9% Desire to stay physically active..........................................................10% Don’t know (Do not read) .................................................................6% Refused ..............................................................................................1%

74

ASK Q8 IF CODES 1 OR 2 IN Q3 (Plan to work for self in retirement) Q8 You indicated that you plan to work for yourself during your retirement. What type of

work do you think you will do? Q8a What type of business or industry do you think you will work in? RECORD RESPONSE Base = Those who plan to work for self in retirement (164)

Executive / Administrative / Management .................................. 4% Professional................................................................................ 21% Owner – small retail store / business ........................................... 6% Farmer .......................................................................................... 7% Technician / minor administrative ............................................... 2% White collar / clerical (non-supervisory) ..................................... 4% Sales ........................................................................................... 14% Skilled and semi-skilled labor.................................................... 20% Service and protective workers.................................................... 9% Refused ........................................................................................ 1% Don’t know ................................................................................ 11%

75

ASK Q9 IF CODES 3-6 IN Q3 (Plan to work in retirement, but not for self) Q9 You indicated that you plan to work during your retirement. What type of work do you

think you will do? Q9a What type of business or industry do you think you will work in? RECORD RESPONSE Base = Those who plan to work in retirement, but not for self (856)

Executive / Administrative / Management .................................. 4% Professional................................................................................ 20% Owner – small retail store / business ........................................... 1% Farmer .......................................................................................... 1% Technician / minor administrative ............................................... 6% White collar / clerical (non-supervisory) ..................................... 7% Sales ........................................................................................... 11% Skilled and semi-skilled labor.................................................... 13% Unskilled labor.................................................................................* Service and protective workers.................................................. 14% Refused ........................................................................................ 1% Don’t know ................................................................................ 21%

* = Less than .5%

76

ASK Q10 – Q18 IF CODES 1-6 IN Q3 (Plan to work in retirement) Q10 I am going to read you a list of things that some people may consider as barriers or obstacles to doing the type of work they’d like to do in retirement. For each one, please tell me whether or not you think it would be an obstacle for you. (ROTATE ITEMS)

Yes, it would be an obstacle ...................................................1 No, it would not be an obstacle...............................................2 DK/Ref. ...................................................................................3


Yes %

No %

DK/Ref %

a.) Lack of necessary skills or education 19 81 1 b.) Lack of money needed to start your own business

33 66 2

c.) The type of work you want to do doesn’t pay enough

32 67 1

d.) Health problems 35 63 1 e.) Physical demands of the work 33 66 1 f.) Age discrimination 30 69 1 g.) Care giving responsibilities for relatives 30 68 2 h.) Lack of jobs with flexible hours 31 68 1 i.) Lack of job opportunities where you live 31 68 1 ASK Q11 IF CODE 2 IN A14 (Employed by someone else) Q11 After you retire, do you expect to change employers or continue working for the same employer you had before you retired? Base = Those who plan to work in retirement and are employed by someone else (809)

Change employers...................................................................... 59% Same employer........................................................................... 34% DK/Ref. ........................................................................................ 7%

ASK Q12 IF CODE 1 IN A14 (Self-employed) Q12 After you retire, do you expect to remain self-employed or do you expect to work for someone else? (INTERVIEWER: If respondent expects to be both self-employed and work for someone else, ask: “Which will be your primary job?”) Base = Those who plan to work in retirement and are self-employed (210)

Remain self-employed ............................................................... 82% Work for someone else .............................................................. 15% DK/Ref......................................................................................... 3%

77

Q13 Thinking about the type of work you expect to do in retirement, how will it compare to the work you do now? Will it be… Base = Those who plan to work in retirement (1,020)

Identical to the type of work you do now .................................. 25% Similar, but not identical............................................................ 36% Fairly different, or ..................................................................... 10% Entirely different ....................................................................... 27% DK/Ref......................................................................................... 2%

Q14 Do you expect that you will do this work . . . (READ LIST, ACCEPT ONE RESPONSE) Base = Those who plan to work in retirement (1,020)

On a full-time basis, year round................................................. 14% On a part-time basis, year round................................................ 62% Part of the year only, either part-time or full-time..................... 22% Other (specify) ............................................................................. 1% DK/Ref. ........................................................................................ 1%

Q15 Please tell me whether or not you’ve taken any of the following steps to prepare for the type of work that you expect to do in retirement. (READ LIST. RECORD AS MANY AS APPLY.) (ROTATE ITEMS) Base = Those who plan to work in retirement (1,020)

Information gathering through the Internet........................................28% Training provided in the workplace or by your employer .................34% Took a course or courses at a college or trade school........................28%

Attended seminar(s) or training sessions, not courses provided by a school or college.....................................................33%

Talked to people in the field and networked......................................45% Reading on your own.........................................................................51% Nothing (Do not read) .......................................................................17% DK/Ref............................................................................................... 1%

78

Q16 Now, I am going to read you a list of different types of things that some people consider when selecting a job. Thinking about your personal situation and the work that you may do in retirement, as I read each of the following items, please tell me whether it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement. (ROTATE ITEMS)

Very important ...........................................................................4 Somewhat important ..................................................................3 Not too important.......................................................................2 Not at all important ....................................................................1 DK/Ref. ......................................................................................5


Very

important%

Some-what

important%

Not too

important%


% DK/Ref

% a.) Being able to learn new skills

41 39 9 11 *

b.) Working in an environment where employee opinions are valued

66 21 4 9 *

c.) Having new experiences 41 41 9 9 * d.) Working for a company that lets its older employees remain employed for as long as they wish to work

58 25 5 11 *

e.) Working for a company that offers good health benefits

56 18 9 17 *

f.) Being able to take time off to care for grandchildren, parents, or other relatives

57 29 4 10 *

g.) Working for a company that offers a good pension plan

44 19 12 25 *

h.) Being able to set your own hours

56 30 7 7 *

i.) Being able to work from home

31 27 14 28 *

j.) Being able to work a reduced schedule for a period of time before you retire completely

39 33 12 16 1

* = Less than .5%

79


Very

important%

Some-what

important%

Not too

important%


% DK/Ref

% k.) Working for a company that offers employment opportunities to retirees

52 24 8 15 1

l.) Working for a company that offers health benefits to retirees

55 18 8 18 *

m.) Working for yourself or starting your own business

30 20 15 35 *




%


% a.) Being able to learn new skills 80 20 b.) Working in an environment where employee opinions are valued

87 13

c.) Having new experiences 82 18 d.) Working for a company that lets its older employees remain employed for as long as they wish to work

83 17


74 25


85 14


63 37

h.) Being able to set your own hours 86 14 i.) Being able to work from home 58 42 j.) Being able to work a reduced schedule for a period of time before you retire completely

72 28

k.) Working for a company that offers employment opportunities to retirees

76 23


73 26

m.) Working for yourself or starting your own business 50 50

80

Q17 Again, please think about the type of work that you may do in retirement. As I read each of the following items, please tell me whether it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement. First, work that (READ ITEM). (ROTATE ITEMS)

Very important .....................................................................4 Somewhat important ............................................................3 Not too important.................................................................2 Not at all important ..............................................................1 DK/Ref. ................................................................................5


Very

important%

Some-what

important%

Not too

important%


% DK/Ref

% a.) Is not too stressful 57 31 6 5 * b.) Is not too physically demanding

36 46 11 7 *

c.) Is your dream job 32 34 16 17 1 d.) Is fun or enjoyable 73 23 3 1 -- e.) Keeps you mentally active 80 19 1 * -- f.) Keeps you physically active

61 33 4 2 *

g.) Makes you feel useful 74 22 2 2 -- h.) Lets you interact with other people

58 34 6 2 --

i.) Lets you help other people 54 38 5 3 -- j.) Makes use of your education

49 35 9 7 *

k.) Makes use of your previous work experience

49 31 8 11 *

l.) Enables you to support yourself and your family

61 24 7 7 *

* = Less than .5%

81




%


% a.) Is not too stressful 89 11 b.) Is not too physically demanding 82 18 c.) Is your dream job 66 33 d.) Is fun or enjoyable 96 4 e.) Keeps you mentally active 99 1 f.) Keeps you physically active 94 6 g.) Makes you feel useful 97 3 h.) Lets you interact with other people 92 8 i.) Lets you help other people 93 7 j.) Makes use of your education 84 15 k.) Makes use of your previous work experience 80 19 l.) Enables you to support yourself and your family 86 14

82

Q18 Now, I’m going to read you a list of some types of jobs that are expected to have a lot of openings in the future. As I read each job, please tell me whether you would be very willing, somewhat willing, not too willing, or not at all willing to do this type of work for pay in your retirement. Would you be willing to take a job in retirement as a . . . (ROTATE ITEMS)

Very willing .........................................................................4 Somewhat willing ................................................................3 Not too willing .....................................................................2 Not at all willing ..................................................................1 DK/Ref. ................................................................................5


Very

willing %

Some-what

willing %

Not too willing

%

Not at all

willing %

DK/Ref %

a.) Secretary or receptionist 11 21 8 60 -- b.) Truck driver or courier 6 21 8 64 * c.) Teacher 18 30 7 44 * d.) Teaching assistant 13 38 8 41 * e.) Security guard 5 18 8 69 * f.) Janitor, or housekeeper, or maid

5 14 9 72 --

g.) Bookkeeper or accounting clerk

8 19 9 63 --

h.) Food service worker 6 20 9 65 * i.) Child care worker 8 22 10 59 * j.) Real estate agent 7 23 9 60 * k.) Insurance agent 4 10 9 77 -- l.) Nursing assistant or home health care aide

7 16 11 67 *

m.) Landscaper or groundskeeper

9 27 10 54 *

n.) Waiter or waitress 2 12 11 75 * o.) Customer service representative

15 37 7 41 --

p.) Retail salesperson 11 33 10 45 -- q.) Cashier 7 28 11 53 * r.) Computer support specialist

10 22 8 60 *

* = Less than .5%

83



Very / Somewhat

willing %

Not too / Not at all

willing %

a.) Secretary or receptionist 31 69 b.) Truck driver or courier 28 72 c.) Teacher 48 51 d.) Teaching assistant 50 49 e.) Security guard 23 77 f.) Janitor, or housekeeper, or maid 19 81 g.) Bookkeeper or accounting clerk 28 72 h.) Food service worker 25 74 i.) Child care worker 30 69 j.) Real estate agent 30 69 k.) Insurance agent 14 86 l.) Nursing assistant or home health care aide 22 78 m.) Landscaper or groundskeeper 36 64 n.) Waiter or waitress 14 86 o.) Customer service representative 52 48 p.) Retail salesperson 45 55 q.) Cashier 36 64 r.) Computer support specialist 32 68

84

ASK Q19 IF CODES 1-6 OR 8 IN Q3 (Pre-retirees who expect to work in retirement and pre-retirees who never expect to retire) Q19 At what age do you expect to stop working for pay completely? (INTERVIEWER: TRY TO GET EXACT AGE. ONLY USE AGE BREAKS BELOW AS A LAST RESORT.) Base = Those who plan to work in retirement or never expect to retire (1,101) Mean age = 71.3 Between the ages of 50 and 54......................................................................................................* 55 and 59.................................................................................................. 2% 60 and 64................................................................................................ 10% 65 and 69................................................................................................ 28% 70 and 74................................................................................................ 23% 75 and 79................................................................................................ 11% 80 or older .............................................................................................. 15% Never expect to stop working {Do not read} .......................................... 5% As long as I’m able to {Do not read}...................................................... 3% Don’t Know {Do not read} ..................................................................... 2% * = Less than .5% ASK Q20 IF (1) CODES 1-6 IN Q3 AND CODE 2 IN Q11, OR (2) CODES 7 OR 8 IN Q3 (Pre-retirees who expect to work in retirement and will remain with current employer after they retire, pre-retirees who never expect to retire, and pre-retirees who do not expect to work in retirement) Q20 Do you expect to…. (READ LIST) Base = Pre-retirees who will remain with current employer after they retire, who never expect to retire, or who do not expect to work in retirement (863)

Continue working for your current employer until you stop working for pay completely ....................................................... 79%

Change employers before you stop working for pay completely .... 13% Never expect to stop working for pay {Do not read}........................ 4% DK/Ref. {Do not read}...................................................................... 4%

85

ASK Q21 IF CODE 2 IN Q20 (Expect to change employers before stop working) Q21 I’m going to read you a list of reasons why some people change employers. For each one I read, please tell me whether it is a major reason, a minor reason, or not a reason that you expect to change employers before you stop working for pay completely. (ROTATE ITEMS)

Major reason ...........................................................................3 Minor reason ...........................................................................2 Not a reason ............................................................................1 DK/Ref. ...................................................................................4

Base = Those who expect to change employers before they stop working (102)

Major reason

%

Minor reason

%

Not a reason

% DK/Ref

% a.) To have more flexible hours 46 29 23 2 b.) To work fewer hours 45 27 26 2 c.) To work from home 25 40 34 2 d.) To get a job that is less physically demanding

21 42 35 2

e.) To get a job that is less stressful 40 38 21 2 f.) To get better health insurance 43 22 33 2 g.) To get better pension benefits 49 26 23 2 h.) To get a job that is closer to home

31 32 35 2

i.) To get a job that is more challenging

32 33 34 2

j.) To have coworkers who are more respectful of you

21 35 42 2

k.) To do a different type of work 34 39 24 3 l.) To make more money 46 34 19 2 m.) To do work that is more enjoyable

57 25 16 2

n.) To avoid age discrimination by your current employer

17 33 48 2

o.) To avoid layoffs at your current job

32 27 39 2

p.) To get a job that you can perform despite health problems or physical limitations

36 29 34 2

86

II. RETIREES WHO ARE WORKING ASK Q22 – Q41 IF CODE ‘1’ IN A13 Q22 Have you retired from more than one job?

Base = Those who have retired from a job (364)

Yes ............................................................................................. 13% No............................................................................................... 87% DK/Ref............................................................................................--

ASK Q23 IF CODE 1 IN Q22 (Retired from more than one job) Q23 Thinking about the last job that you retired from, at what age did you retire from that job? (INTERVIEWER: TRY TO GET EXACT AGE. ONLY USE AGE BREAKS BELOW AS A LAST RESORT.) Base = Those who have retired from more than one job (48) Mean age = 52.1 Before the age of 50............................................................................... 33% Between the ages of 50 and 54 .............................................................. 22% 55 and 59................................................................................................ 17% 60 and 64................................................................................................ 25% 65 and 69.................................................................................................. 3% At age 70 .................................................................................................. 1% Don’t Know (Do not read) .........................................................................--

87

ASK Q24 IF CODE 2 IN Q22 (Retired from one job) Q24 At what age did you retire? (INTERVIEWER: TRY TO GET EXACT AGE. ONLY USE AGE BREAKS BELOW AS A LAST RESORT.) Base = Those who have retired from one job (316) Mean age = 52.7 Before the age of 50............................................................................... 32% Between the ages of 50 and 54 .............................................................. 19% 55 and 59................................................................................................ 24% 60 and 64................................................................................................ 18% 65 and 69.................................................................................................. 4% At age 70 .................................................................................................. 1% Don’t Know (Do not read) ...................................................................... 1% Q23 / 24 (Combined) Thinking about the last job that you retired from, at what age did you retire from that job? Base = Those who have retired from a job (364) Mean age = 52.7 Before the age of 50............................................................................... 32% Between the ages of 50 and 54 .............................................................. 20% 55 and 59................................................................................................ 23% 60 and 64................................................................................................ 19% 65 and 69.................................................................................................. 4% At age 70 .................................................................................................. 1% Don’t Know (Do not read) ...................................................................... 1%

88

Q25 Did you retire before or after . . . .

Before .......................................................................................1 After..........................................................................................2 Not applicable (vol.).................................................................3 DK/Ref. (vol.)...........................................................................4

Base = Those who have retired from a job (364) Before

% After

%

Not applicable

% DK/Ref

% a.) You became eligible to receive retirement benefits from social security

76 17 7 1

b.) You became eligible to receive payments from a retirement savings plan such as a pension plan, a 401(k), IRA, or Keogh plan

47 37 14 1

c.) You became eligible for Medicare 79 10 10 2 d.) You became eligible for retiree health benefits

54 26 16 3

e.) You achieved your retirement savings goals, or saved a certain amount of money for retirement

57 24 15 4

f.) You accomplished certain career or job-related goals

36 52 10 2

Q26 Now that you are retired, what type of work are you doing exactly? Q26a What type of business or industry do you work in? RECORD RESPONSE Base = Those who have retired from a job (364)

Executive / Administrative / Management .................................. 7% Professional................................................................................ 24% Owner – small retail store / business ........................................... 4% Farmer .......................................................................................... 1% Technician / minor administrative ............................................... 8% White collar / clerical (non-supervisory) ................................... 11% Sales ........................................................................................... 10% Skilled and semi-skilled labor.................................................... 15% Unskilled labor.................................................................................* Service and protective workers.................................................. 14% Refused ........................................................................................ 3% Don’t know .................................................................................. 2%

* = Less than .5%

89

Q27 Compared to the type of work you did before you retired, would you say that your current work is… (READ LIST, RECORD ONE RESPONSE) Base = Those who have retired from a job (364)

Identical...................................................................................... 16% Similar, but not identical............................................................ 29% Fairly different ............................................................................. 7% Entirely different........................................................................ 47% DK/Ref.............................................................................................*

* = Less than .5% Q27a Thinking about your last job before you retired, were you self-employed or were you employed by someone else? (INTERVIEWER: If respondent claims to have been both self-employed and employed by someone else, ask: “Which was your primary job?”) Base = Those who have retired from a job (364)

Self-employed .............................................................................. 9% Employed by someone else........................................................ 91% DK/Ref.............................................................................................*

* = Less than .5% Q28 What was the last job that you had before you retired? Q28a What type of business or industry did you work in? RECORD RESPONSE Base = Those who have retired from a job (364)

Executive / Administrative / Management .................................. 9% Professional................................................................................ 20% Owner – small retail store / business ........................................... 1% Farmer .......................................................................................... 1% Technician / minor administrative ............................................. 14% White collar / clerical (non-supervisory) ..................................... 9% Sales ............................................................................................. 6% Skilled and semi-skilled labor.................................................... 16% Unskilled labor............................................................................. 1% Service and protective workers.................................................. 19% Refused ........................................................................................ 2% Don’t know .................................................................................. 3%

90

ASK Q29 IF CODE 2 IN A14 (Employed by someone else) Q29 Is your current employer the same employer that you were working for in the last job before you retired, or a different employer? Base = Retirees who work for someone else (291)

Same employer........................................................................... 17% Different employer..................................................................... 82% DK/Ref.............................................................................................*

* = Less than .5%

Q30 omitted Q31 How soon after you retired did you start working again? Was it… Base = Those who have retired from a job (364)

Fewer than 6 months after you retired ....................................... 44% At least 6 months but less than 1 year after you retired............. 17% 1 – 2 years after you retired ....................................................... 18% 3 – 4 years after you retired ....................................................... 10% 5 – 10 years after you retired ....................................................... 5% More than 10 years after you retired............................................ 3% DK/Ref. ........................................................................................ 3%

91

Q32 I’m going to read you several reasons why some people continue to work in retirement. For each one, I’d like you to tell me whether it was a major factor, a minor factor, or no factor at all in your decision to work in retirement. (ROTATE ITEMS)



Major factor %

Minor factor

%

Not a factor at all

% DK/Ref

% a.) You needed the health benefits 20 17 63 * b.) You needed the money 51 29 19 1 c.) Desire to pursue a dream 20 35 44 * d.) Desire to learn new things 37 34 29 * e.) Desire to be around people 47 30 22 * f.) Desire to help other people 44 30 26 * g.) Desire to remain productive or useful 73 19 8 * h.) Desire to do something fun or enjoyable 49 28 23 * i.) Desire to stay mentally active 68 21 11 * j.) Desire to stay physically active 61 23 15 * * = Less than .5% Q32a Which of the things we just talked about was the ONE major factor in your decision to

work in retirement? Would you say the one major factor was. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q32. RECORD ONE RESPONSE ONLY.)


You needed the health benefits ..........................................................4% You needed the money.......................................................................35% Desire to pursue a dream....................................................................5% Desire to learn new things..................................................................2% Desire to be around people ................................................................3% Desire to help other people ................................................................7% Desire to remain productive or useful................................................14% Desire to do something fun or enjoyable ...........................................5% Desire to stay mentally active ............................................................10% Desire to stay physically active..........................................................8% Don’t know (Do not read) .................................................................6% Refused ..............................................................................................*

* = Less than .5%

92

Q33 Before you retired, did you expect that you would work in your retirement? Base = Those who have retired from a job (364)

Yes ............................................................................................. 69% No {skip to Q36} ....................................................................... 26% Not sure {skip to Q36} ................................................................ 5%

ASK Q34 IF CODE 1 IN Q33 (Expected to work in retirement) Q34 Are you currently doing the type of work that you expected to do in retirement? Base = Those who expected to work in retirement (239)

Yes {skip to Q36}...................................................................... 63% No............................................................................................... 30% Not sure {skip to Q36} ................................................................ 7%

ASK Q35 IF CODE 2 IN Q34 (Work is not what expected to do in retirement) Q35 I am going to read you a list of things that some people may consider as barriers or

obstacles to doing the type of work they expected to do in retirement. For each one, please tell me whether or not you think this was an obstacle for you.

(ROTATE ITEMS)

Yes, it was an obstacle ............................................................1 No, it was not an obstacle .......................................................2 DK/Ref. ...................................................................................3

Base = Those who are not doing the type of work expected in retirement (72)

Yes %

No %

DK/Ref %

a.) Lack of necessary skills or education 22 78 -- b.) Lack of money needed to start your own business

16 82 2

c.) The type of work you wanted to do didn’t pay enough

22 77 1

d.) Health problems 11 89 -- e.) Physical demands of the work 23 77 -- f.) Age discrimination 6 94 -- g.) Care giving responsibilities for relatives 12 87 1 h.) Lack of jobs with flexible hours 18 81 1 i.) Lack of job opportunities where you live 42 58 --

93

Q36 Now, I am going to read you a list of different types of things that some people consider when selecting a job. Thinking about your personal situation and your preferred work environment, as I read each of the following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work. {ROTATE ITEMS}



Very

important%

Somewhat important

%

Not too

important%


% DK/Ref

% a.) Being able to learn new skills

33 39 8 20 --

b.) Working in an environment where employee opinions are valued

53 29 5 11 2

c.) Having new experiences 31 43 10 16 * d.) Working for a company that lets its older employees remain employed for as long as they wish to work

45 25 5 24 1


31 13 12 41 2


46 26 6 21 1


30 19 11 39 1

h.) Being able to set your own hours

40 26 8 26 *

i.) Being able to work from home

19 16 10 54 1


30 26 11 32 2

* = Less than .5%

94


Very

important%

Somewhat important

%

Not too

important%


% DK/Ref

% k.) Working for a company that offers employment opportunities to retirees

32 25 13 29 1


34 12 9 43 3


22 10 11 57 1




%

Not too/ Not at all important

% a.) Being able to learn new skills 72 28 b.) Working in an environment where employee opinions are valued

82 16

c.) Having new experiences 74 25 d.) Working for a company that lets its older employees remain employed for as long as they wish to work

69 29


44 53


72 28


49 50

h.) Being able to set your own hours 66 34 i.) Being able to work from home 35 64 j.) Being able to work a reduced schedule for a period of time before you retire completely

56 43


57 42


46 51

m.) Working for yourself or starting your own business 31 68

95

Q37 And, thinking again about your preferred work environment, as I read each of the following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work. First, work that (READ ITEM). (ROTATE ITEMS)



Very

important%

Some-what

important%

Not too

important%


% DK/Ref

% a.) Is not too stressful 45 29 11 15 * b.) Is not too physically demanding

33 39 10 17 1

c.) Is your dream job 24 25 15 32 2 d.) Is fun or enjoyable 68 27 2 3 * e.) Keeps you mentally active 74 23 1 1 -- f.) Keeps you physically active

56 33 5 6 *

g.) Makes you feel useful 70 26 1 3 * h.) Lets you interact with other people

61 31 3 5 --

i.) Lets you help other people 58 31 4 7 * j.) Makes use of your education

47 35 8 10 *


41 29 13 16 1


55 23 10 11 --

* = Less than .5%

96




%


% a.) Is not too stressful 74 26 b.) Is not too physically demanding 71 27 c.) Is your dream job 50 48 d.) Is fun or enjoyable 95 5 e.) Keeps you mentally active 98 2 f.) Keeps you physically active 89 11 g.) Makes you feel useful 95 4 h.) Lets you interact with other people 92 8 i.) Lets you help other people 89 11 j.) Makes use of your education 82 18 k.) Makes use of your previous work experience 70 29 l.) Enables you to support yourself and your family 79 21 Q38 Have you had to learn new skills to perform your current job? Base = Those who have retired from a job (364)

Yes ............................................................................................. 55% No............................................................................................... 45% DK/Ref............................................................................................--

Q39 Please tell me whether or not you’ve taken any of the following steps either before starting your current job, or since starting it, in order to help you perform your job responsibilities. (READ LIST. RECORD AS MANY AS APPLY.) (ROTATE ITEMS)


Information gathering through the Internet........................................31% Training provided in the workplace or by your employer .................51%

Took a course or courses at a college or trade school........................27% Attended seminar(s) or training sessions, not courses provided by a school or college.....................................................39%

Talked to people in the field and networked......................................43% Reading on your own.........................................................................54% Nothing (Do not read) .......................................................................13% Don’t know ........................................................................................1%

97

Q40 Now, I’m going to read you a list of some types of jobs that are expected to have a lot of openings in the future. As I read each job, please tell me whether you would be very willing, somewhat willing, not too willing, or not at all willing to do this type of work for pay in your retirement. Would you be willing to take a job as a . . . {ROTATE ITEMS}

Very willing .........................................................................4 Somewhat willing ................................................................3 Not too willing .....................................................................2 Not at all willing ..................................................................1 DK/Ref. ................................................................................5


Very

willing %

Some-what

willing %

Not too willing

%

Not at all

willing %

DK/Ref %

a.) Secretary or receptionist 7 19 6 68 -- b.) Truck driver or courier 8 22 5 64 -- c.) Teacher 25 24 4 47 * d.) Teaching assistant 17 27 5 51 * e.) Security guard 7 18 4 72 -- f.) Janitor, or housekeeper, or maid

3 13 8 77 --


9 18 6 67 --

h.) Food service worker 3 13 8 76 -- i.) Child care worker 4 15 6 74 -- j.) Real estate agent 7 25 7 62 -- k.) Insurance agent 3 9 6 81 * l.) Nursing assistant or home health care aide

5 12 6 77 --


7 23 8 62 --

n.) Waiter or waitress 1 10 5 84 -- o.) Customer service representative

9 36 8 45 1

p.) Retail salesperson 6 22 10 61 -- q.) Cashier 3 22 7 68 -- r.) Computer support specialist

11 21 6 61 *

* = Less than .5%

98



Very / Somewhat

willing %

Not too / Not at all

willing %

a.) Secretary or receptionist 25 75 b.) Truck driver or courier 30 70 c.) Teacher 49 51 d.) Teaching assistant 44 56 e.) Security guard 24 76 f.) Janitor, or housekeeper, or maid 15 85 g.) Bookkeeper or accounting clerk 27 73 h.) Food service worker 16 84 i.) Child care worker 20 80 j.) Real estate agent 32 68 k.) Insurance agent 12 88 l.) Nursing assistant or home health care aide 17 83 m.) Landscaper or groundskeeper 30 70 n.) Waiter or waitress 11 89 o.) Customer service representative 46 54 p.) Retail salesperson 29 71 q.) Cashier 25 75 r.) Computer support specialist 32 67 Q41 At what age do you expect to stop working for pay completely? (INTERVIEWER: TRY TO GET EXACT AGE. ONLY USE AGE BREAKS BELOW AS A LAST RESORT.) Base = Those who have retired from a job (364) Mean age = 70.0 Between the ages of 50 and 54.................................................................................................. 1% 55 and 59.................................................................................................. 2% 60 and 64................................................................................................ 19% 65 and 69................................................................................................ 28% 70 and 74................................................................................................ 19% 75 and 79.................................................................................................. 9% 80 or older .............................................................................................. 12% Never expect to stop working {Do not read} .......................................... 2% As long as I’m able to {Do not read}...................................................... 6% Don’t Know {Do not read}...................................................................... 2%

99

III. PRE-RETIREES WHO DON’T INTEND TO WORK IN RETIREMENT ASK Q42 - Q43 IF CODE ‘7’ IN Q3 Q42 I’m going to read you several reasons why some people choose not to work in retirement.

For each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision not to work in retirement. (ROTATE ITEMS)


Base = Pre-retirees who don’t intend to work in retirement (471)

Major factor

%

Minor factor

%

Not a factor at all

% DK/Ref

% a.) You won’t need the money 28 48 22 2 b.) Desire to travel 49 34 16 * c.) Desire to pursue hobbies other than travel

51 34 14 *

d.) Desire to volunteer 22 50 28 * e.) General desire to relax 67 23 9 * f.) You’ve spent enough of your life working

68 19 13 *

g.) Working is too stressful 20 39 41 -- h.) Working is too physically demanding 19 33 48 -- i.) Health problems 29 27 43 1 j.) Care giving responsibilities for relatives 29 32 39 1 k.) Desire to spend more time with family 70 23 7 -- l.) Desire to do as you please with your time 83 13 4 -- m.) Age discrimination 15 25 60 1 n.) You don’t think you could find the work that you’d like to do

11 32 56 1

* = Less than .5%

100

Q42a Which of the things we just talked about is the ONE major factor in your decision not to

work in retirement? Would you say the one major factor is. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q42. RECORD ONE RESPONSE ONLY.)

Base = Pre-retirees who don’t intend to work in retirement (471) You won’t need the money ................................................................4% Desire to travel...................................................................................5% Desire to pursue hobbies other than travel.........................................4% Desire to volunteer.............................................................................2% General desire to relax .......................................................................6% You’ve spent enough of your life working ........................................15% Working is too stressful .....................................................................1% Working is too physically demanding ...............................................1% Health problems .................................................................................7% Care giving responsibilities for relatives ...........................................4% Desire to spend more time with family..............................................18% Desire to do as you please with your time .........................................29% Age discrimination.............................................................................* You don’t think you could find the work that you’d like to do .........1% Don’t know (Do not read) .................................................................2%

* = Less than .5%

101

Q43 How likely would you be to work in retirement if the following were to happen? Would you be very likely, somewhat likely, not too likely, or not at all likely to work in retirement if (READ ITEM)? (ROTATE ITEMS)

Very likely ..............................................................................4 Somewhat likely......................................................................3 Not too likely ..........................................................................2 Not at all likely........................................................................1 DK/Ref. ...................................................................................5


Very likely %

Somewhat likely

%

Not too likely

%

Not at all likely

% DK/Ref

% a.) Your retirement savings ran out

63 14 6 14 1

b.) You needed the health benefits for yourself or your family

55 24 4 17 *

c.) You needed the money 57 22 6 15 * d.) The perfect job came up 34 27 10 29 1 e.) The pay was too good to refuse, although not necessary to support yourself

26 35 12 26 1

f.) You were able to set your own hours

33 28 13 26 *

g.) Your employer let you take time off as needed

33 24 14 27 1

h.) You were able to work from home, at least now and then

23 32 12 33 *

i.) Your employer understood the needs of people with physical limitations

26 19 11 42 2

j.) You could phase into retirement by working a reduced schedule for a period of time before you retire completely

31 32 11 25 *

k.) You had the chance to do work that lets you pursue a dream

37 29 8 26 *

l.) You had the chance to do work that is fun

40 30 9 20 *

102


Very likely %

Somewhat likely

%

No too likely

%

Not at all likely

% DK/Ref

% m.) You had the chance to do work that is not too stressful

23 28 15 32 1

n.) You had the chance to do work that is not too physically demanding

20 25 18 36 *

o.) You could learn new job skills

12 23 20 45 --

p.) You could be around people

24 30 15 31 --

q.) You could help other people

34 40 9 16 1

r.) You could stay productive and be useful

33 31 10 26 *

s.) You could stay mentally active

40 27 8 24 1

t.) You could stay physically active

38 28 9 25 *

u.) Your employer offered you new experiences

15 25 18 42 *



Very / Somewhat

likely %

Not too / Not at all likely

% a.) Your retirement savings ran out 78 21 b.) You needed the health benefits for yourself or your family

78 21

c.) You needed the money 79 21 d.) The perfect job came up 60 38 e.) The pay was too good to refuse, although not necessary to support yourself

61 38

f.) You were able to set your own hours 61 38 g.) Your employer let you take time off as needed 57 41 h.) You were able to work from home, at least now and then

55 45

i.) Your employer understood the needs of people with physical limitations

45 53

103


Very / Somewhat

likely %

Not too / Not at all likely

% j.) You could phase into retirement by working a reduced schedule for a period of time before you retire completely

63 37

k.) You had the chance to do work that lets you pursue a dream

66 34

l.) You had the chance to do work that is fun 70 29 m.) You had the chance to do work that is not too stressful

51 48

n.) You had the chance to do work that is not too physically demanding

46 54

o.) You could learn new job skills 35 65 p.) You could be around people 54 46 q.) You could help other people 74 26 r.) You could stay productive and be useful 64 36 s.) You could stay mentally active 67 32 t.) You could stay physically active 66 34 u.) Your employer offered you new experiences 39 60

104

IV. DEMOGRAPHICS ASK Q44 & Q45 IF CODE 2 IN A13 (Never retired from a job) Q44 What is your current job exactly? Q44a What type of business or industry do you work in? RECORD RESPONSE

Base = Those who have never retired from a job (1,637)

Executive / Administrative / Management .................................. 8% Professional................................................................................ 19% Owner – small retail store / business ........................................... 4% Farmer .......................................................................................... 1% Technician / minor administrative ............................................. 14% White collar / clerical (non-supervisory) ................................... 13% Sales ............................................................................................. 8% Skilled and semi-skilled labor.................................................... 16% Unskilled labor............................................................................. 2% Service and protective workers.................................................. 11% Refused ........................................................................................ 2% Don’t know .................................................................................. 3%

Q45 About how many hours per week do you work during an average week? {DO NOT READ LIST. ACCEPT ONE RESPONSE} Base = Those who have never retired from a job (1,637)

Fewer than 10............................................................................... 1% 10, but fewer than 20 ................................................................... 3% 20, but fewer than 35 ................................................................. 11% 35 or more .................................................................................. 84% DK/Ref. ........................................................................................ 1%

105

ASK Q46 IF CODE 2 IN A14 (Not self-employed) Q46 How many years have you been with your current employer? Base = Those who are employed by someone else (1,605)

Less than 1 ................................................................................... 7% 1, but less than 2........................................................................... 5% 2, but less than 5......................................................................... 14% 5, but less than 10....................................................................... 17% 10, but less than 15..................................................................... 13% 15, but less than 20..................................................................... 12% 20 or more .................................................................................. 32% DK/Ref......................................................................................... 1%

ASK Q47 IF CODE 1 IN A14 (Self-employed) Q47 How many years have you been self-employed? Base = Those who are self-employed (394)

Less than 1 ................................................................................... 4% 1, but less than 2........................................................................... 4% 2, but less than 5........................................................................... 6% 5, but less than 10....................................................................... 13% 10, but less than 15..................................................................... 10% 15, but less than 20..................................................................... 13% 20 or more .................................................................................. 49% DK/Ref......................................................................................... 1%

106

ASK ALL RESPONDENTS Q48 Are you currently receiving payments from any of the following types of pension plans or retirement plans? (ROTATE ITEMS; ALWAYS ASK G & H LAST) Q49 Have you ever received a lump sum payment from any of the following types of pension

plans or retirement plans? (ROTATE IN SAME ORDER AS Q48; ALWAYS ASK F & G LAST)

Base = Total respondents (2,001) Q48 Currently receiving

%

Q49 Received lump sum payment

% a.) Pension payments for veterans provided by the U.S. government

5 1

b.) Payments from an individual retirement account, or IRA

5 3

c.) Payments from a 401(k) or 403(b) retirement account 3 5 d.) Payments from a Keogh retirement plan 1 1 e.) Pension payments provided by a former or current employer, excluding 401(k)s, 403(b)s, and Keogh plans

10 5

f.) Retirement benefits from social security 11 Not asked g.) Payments from another kind of retirement plan 4 4 h.) Any others? 2 2

107

Q50 Are you currently eligible to receive payments from any of the following types of pension plans or retirement plans? (ROTATE IN SAME ORDER AS Q48 & Q49; ALWAYS ASK G & H LAST)

{For items a – f, only read types respondent is not currently receiving in Q48 or has not

already received as a lump sum payment in Q49.}

Base (a-f) = Those who are not currently receiving or have not received as a lump sum payment. Bases vary by item. Base (g-h) = Total respondents (2,001)

Yes %

a.) Pension payments for veterans provided by the U.S. government 2 b.) Payments from an individual retirement account, or IRA 14 c.) Payments from a 401(k) or 403(b) retirement account 10 d.) Payments from a Keogh retirement plan 3 e.) Pension payments provided by a former or current employer, excluding 401(k)s, 403(b)s, and Keogh plans

12

f.) Retirement benefits from social security 14 g.) Payments from another kind of retirement plan 8 h.) Any others? 3

108

Q51 RECORD GENDER Base = Total respondents (2,001)

Male ........................................................................................... 53% Female........................................................................................ 46% No answer .................................................................................... 1%

Q52 In what year were you born? (PROGRAMMER: CONVERT TO AGE) Base = Total respondents (2,001) Mean age = 56.7

50 – 54........................................................................................ 38% 55 – 59........................................................................................ 31% 60 – 64........................................................................................ 17% 65 – 69.......................................................................................... 7% 70.................................................................................................. 2% Don’t know .................................................................................. 1% Refused ........................................................................................ 5%

Q53 Are you . . . Base = Total respondents (2,001)

Married....................................................................................... 73% Separated...................................................................................... 1% Divorced..................................................................................... 11% Widowed ...................................................................................... 5% Living as married or with a partner.............................................. 2% Single, never married ................................................................... 5% Refused ........................................................................................ 3%

Q54 Are you a parent or have you ever been a parent? Base = Total respondents (2,001)

Yes .....................................................................................................85% No.......................................................................................................12% Don’t know ........................................................................................* Refused ..............................................................................................3%

* = Less than .5%

109

ASK Q55 IF CODE 1 IN Q54 (Parents) Q55 Do you have children of your own currently living with you? Base = Those who are parents (1,703)

Yes .....................................................................................................32% No.......................................................................................................67% Don’t know ........................................................................................*

* = Less than .5% ASK Q56 IF CODE 1 IN Q55 (Have children currently living with them) Q56 And what are their ages? (RECORD AGES VERBATIM) Base = Those who have children currently living with them (524) Mean age = 20.9

Under 4......................................................................................... 2% 4 – 7.............................................................................................. 4% 8 – 12.......................................................................................... 12% 13 – 17........................................................................................ 27% 18 – 20........................................................................................ 26% 18+ ............................................................................................. 73% 21+ ............................................................................................. 53% Under 18..................................................................................... 37% Under 21..................................................................................... 56% Refused ........................................................................................ 2%

110

Q57 Are you responsible for caring for any of the following? (READ LIST) (ALLOW MULTIPLE RESPONSES) Base = Total respondents (2,001) A parent..............................................................................................8% A spouse.............................................................................................15% A grandchild.......................................................................................5% An in-law ...........................................................................................2% A friend ..............................................................................................1% Another adult relative ........................................................................3% None...................................................................................................68% Don’t know ........................................................................................* Refused ..............................................................................................3% * = Less than .5%

Q58 What was the highest level of education that you completed? {DO NOT READ LIST} Base = Total respondents (2,001)

Grades 1-8.................................................................................... 1% Some high school, grades 9-11 .................................................... 5% High school graduate ................................................................. 32% Vocational or trade school ........................................................... 5% Associate degree, some college ................................................. 22% 4-year college degree ................................................................. 15% Some post-graduate work, but no degree .................................... 4% Post-graduate degree.................................................................. 14% Refused ........................................................................................ 3%

Q59 Are you of Hispanic or Latino origin or descent?


Yes .....................................................................................................3% No.......................................................................................................94% Refused. .............................................................................................3%

111

Q60 What do you consider to be your race — are you . . . (READ LIST)


White..................................................................................................87% African American or black.................................................................5% Asian or Pacific Islander, or...............................................................1% Hispanic (volunteered).......................................................................2% Native American (volunteered)..........................................................1% Something else? (SPECIFY: ___________) .....................................* DK/Ref. ..............................................................................................4%

* = Less than .5% Q61 Which of the following categories best describes the combined annual income of all members of your household, including wages or salary, pensions, and all other sources? (READ LIST) Base = Total respondents (2,001)

Under $20,000....................................................................................5% $20,000 to just under $30,000............................................................7% $30,000 to just under $40,000............................................................10% $40,000 to just under $50,000............................................................10% $50,000 to just under $60,000............................................................10% $60,000 to just under $70,000............................................................8% $70,000 to just under $80,000............................................................6% $80,000 or more .................................................................................27% Don’t know ........................................................................................2% Refused ..............................................................................................14%

112

Q62 Which of the following categories best describes your individual annual income from working, excluding pensions and any other sources? (READ LIST) (PROGRAMMER: ONLY SHOW INCOME BREAKS EQUAL TO OR LESS THAN Q61 RESPONSE) Base = Total respondents (2,001)

Under $20,000....................................................................................16% $20,000 to just under $30,000............................................................14% $30,000 to just under $40,000............................................................13% $40,000 to just under $50,000............................................................11% $50,000 to just under $60,000............................................................9% $60,000 to just under $70,000............................................................5% $70,000 to just under $80,000............................................................3% $80,000 or more .................................................................................11% Don’t know ........................................................................................2% Refused ..............................................................................................15%

Q63 Are you {if married in Q53: or your spouse} a member of AARP, formerly known as the American Association of Retired Persons? Base = Total respondents (2,001)

Yes ............................................................................................. 43% No............................................................................................... 52% DK/Ref......................................................................................... 4%

113

V. COMBINED RESULTS: SIMILAR QUESTIONS ASKED OF PRE-RETIREES AND RETIREES

Q 6 / 7/ 32. Factors in Decision to Work in Retirement or Never Retire Q6 Now, I’m going to read you several reasons why some people continue to work in retirement.

For each one, I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision to work in retirement. (Base: Pre-retired workers who plan to work in retirement)

Q7 Now, I’m going to read you several reasons why some people choose not to retire. For each one,

I’d like you to tell me whether it is a major factor, a minor factor, or no factor at all in your decision to never retire. (Base: Pre-retired workers who never expect to retire)

Q32 I’m going to read you several reasons why some people continue to work in retirement. For each

one, I’d like you to tell me whether it was a major factor, a minor factor, or no factor at all in your decision to work in retirement. (Base: Workers who have retired from a job (Working retirees))

Factors in Decision to Work in Retirement or Never Retire:

% MAJOR FACTOR

Pre-retired workers who plan to work in retirement

(n=1,020)

Working retirees (n=364)

Subtotal: Pre-retired workers who plan to work in retirement

and Working retirees (n=1,384)

Pre-retired workers who never expect

to retire (n=81)

Total (n=1465)

a.) You’ll need the health benefits

66 20 56 42 55

b.) You need the money

54 51 53 53 53

c.) Desire to pursue a dream

32 20 29 32 30

d.) Desire to learn new things

50 37 48 42 47

e.) Desire to be around people

58 47 55 43 55

f.) Desire to help other people

59 44 56 55 56

g.) Desire to remain productive or useful

77 73 76 70 76

h.) Desire to do something fun or enjoyable

71 49 66 58 66

i.) Desire to stay mentally active

87 68 83 73 82

j.) Desire to stay physically active

85 61 80 69 79

Questions 6, 7, and 32.

114

Q 6 / 7/ 32. Factors in Decision to Work in Retirement or Never Retire (continued) Q6 Now, I’m going to read you several reasons why some people continue to work in retirement.







% MINOR FACTOR Pre-retired

workers who plan to work

in retirement (n=1,020)

Working retirees (m=364)

Subtotal: Pre-retired workers

who plan to work in retirement and Working retirees

(n=1,384)


to retire (n=81)

Total (n=1465)


21 17 20 16 20


38 29 36 19 35


45 35 43 25 42


39 34 38 23 37


34 30 33 24 33


36 30 34 28 34


20 19 20 20 20


71 28 25 17 24


87 21 13 17 13


85 23 15 17 15


115








% NOT A FACTOR AT ALL Pre-retired






(n=1,384)


to retire (n=81)

Total (n=1465)


13 63 24 42 25


8 19 10 29 11


22 44 27 42 28


10 29 14 34 15


8 22 11 33 12


5 26 10 18 10


3 8 4 10 5


5 23 9 25 10


2 11 4 10 5


3 15 5 15 6


116








% DON’T KNOW / REFUSED Pre-retired






(n=1,384)


to retire (n=81)

Total (n=1465)


1 * 1 -- *


1 1 1 -- 1


1 * 1 1 1


* * * -- *


* * * -- *


* * * -- *


* * * -- *


* * * -- *


-- * * -- *


* * * -- *

Questions 6, 7, and 32. * = Less than 0.5%

117

Q6a / 7a / 32a. ONE Major Factor in Decision to Work in Retirement or Never Retire

Q6a Which of the things we just talked about is the ONE major factor in your decision to work in retirement? Would you say the one major factor is. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q6. RECORD ONE RESPONSE ONLY.) (Base: Pre-retired workers who plan to work in retirement)

Q7a Which of the things we just talked about is the ONE major factor in your decision to never retire?

Would you say the one major factor is. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q7. RECORD ONE RESPONSE ONLY.) (Base: Pre-retired workers who never expect to retire)

Q32a Which of the things we just talked about was the ONE major factor in your decision to work in

retirement? Would you say the one major factor was. . . (READ LIST OF ITEMS WITH A CODE ‘3’ RESPONSE IN Q32. RECORD ONE RESPONSE ONLY.) (Base: Workers who have retired from a job (Working retirees))

ONE MAJOR FACTOR in Decision to Work in Retirement or Never Retire

(%)

Pre-retired workers who plan to work in retirement

(n=1,020)


Subtotal: Pre-retired workers who plan to work in retirement

and Working retirees (n=1,384)


to retire (n=81)

Total (n=1465)


17 4 14 10 14

b.) You need the money 22 35 24 24 24 c.) Desire to pursue a dream

3 5 4 2 4


3 2 3 2 3


4 3 4 6 4


6 7 6 11 6


14 14 14 14 14


5 5 5 6 5


15 10 14 9 14


9 8 9 10 9

Don’t know / refused 3 6 3 7 3 Questions 6a, 7a, and 32a.

118

Q 16 / 36. Importance of Selected Benefits and Employer Attributes in Retirement Work Q16 Now, I am going to read you a list of different types of things that some people consider

when selecting a job. Thinking about your personal situation and the work that you may do in retirement, as I read each of the following items, please tell me whether it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement. (Base: Pre-retired workers who plan to work in retirement)

Q36 Now, I am going to read you a list of different types of things that some people consider

when selecting a job. Thinking about your personal situation and your preferred work environment, as I read each of the following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work. (Base: Workers who have retired from a job (Working retirees))

Importance of Selected Benefits and Employer Attributes in Retirement Work:

% VERY IMPORTANT Pre-retired workers who

plan to work in retirement (n=1,020)


Total (n=1,384)

a.) Being able to learn new skills 41 33 39 b.) Working in an environment where employee opinions are valued

66 53 63

c.) Having new experiences 41 31 39 d.) Working for a company that lets its older employees remain employed for as long as they wish to work

58 45 55


56 31 51


57 46 54


44 30 41

h.) Being able to set your own hours 56 40 53 i.) Being able to work from home 31 19 29 j.) Being able to work a reduced schedule for a period of time before you retire completely

39 30 37


52 32 48


55 34 50


30 22 28

Questions 16 and 36.

119

Q 16 / 36. Importance of Selected Benefits and Employer Attributes in Retirement Work

(continued) Q16 Now, I am going to read you a list of different types of things that some people consider





% SOMEWHAT IMPORTANT Pre-retired workers who



Total (n=1,384)


21 29 23


25 25 25


18 13 17


29 26 28


19 19 19


33 26 31


24 25 24


18 12 17


20 10 17


120







% NOT TOO IMPORTANT Pre-retired workers who



Total (n=1,384)


4 5 4


5 5 5


9 12 9


4 6 5


12 11 12


12 11 12


8 13 9


8 9 8


15 11 14


121

Q 16 / 36. Importance of Selected Benefits and Employer Attributes in Retirement Work (continued)






% NOT AT ALL IMPORTANT Pre-retired workers who



Total (n=1,384)


9 11 10


11 24 14


17 41 22


10 21 12


25 39 28


16 32 19


15 29 19


18 43 24


35 57 40


122







% DON’T KNOW / REFUSED Pre-retired workers who



Total (n=1,384)

a.) Being able to learn new skills * -- * b.) Working in an environment where employee opinions are valued

* 2 1

c.) Having new experiences * * * d.) Working for a company that lets its older employees remain employed for as long as they wish to work

* 1 1


* 2 1


* 1 *


* 1 1

h.) Being able to set your own hours * * * i.) Being able to work from home * 1 * j.) Being able to work a reduced schedule for a period of time before you retire completely

1 2 1


1 1 1


* 3 1


* 1 1

Questions 16 and 36. * = Less than 0.5%

123







% VERY / SOMEWHAT IMPORTANT Pre-retired workers who



Total (n=1,384)


87 82 86

c.) Having new experiences 82 74 80

d.) Working for a company that lets its older employees remain employed for as long as they wish to work

83 69 80


74 44 68


85 72 82


63 49 59

h.) Being able to set your own hours 86 66 81

i.) Being able to work from home 58 35 53


72 56 68


76 57 72


73 46 67


50 31 46


124







% NOT TOO / NOT AT ALL IMPORTANT Pre-retired workers who



Total (n=1,384)


13 16 13

c.) Having new experiences 18 25 20

d.) Working for a company that lets its older employees remain employed for as long as they wish to work

17 29 19


25 53 31


14 28 17


37 50 40

h.) Being able to set your own hours 14 34 18

i.) Being able to work from home 42 64 47


28 43 31


23 42 27


26 51 32


50 68 54


125

Q 17 / 37. Importance of Selected Job Characteristics in Retirement Work Q17. Again, please think about the type of work that you may do in retirement. As I read each

of the following items, please tell me whether it represents something that will be “very important,” “somewhat important,” “not too important,” or “not at all important” to you when you are working in retirement. (Base: Pre-retired workers who plan to work in retirement)

Q37 And, thinking again about your preferred work environment, as I read each of the

following items, please tell me whether it represents something that is “very important,” “somewhat important,” “not too important,” or “not at all important” to you in your work. (Base: Workers who have retired from a job (Working retirees))

Importance of Selected Job Characteristics in Retirement Work:

% VERY IMPORTANT Pre-retired workers

who plan to work in retirement (n=1,020)


Total (n=1,384)

a.) Is not too stressful 57 45 54 b.) Is not too physically demanding

36 33 35

c.) Is your dream job 32 24 31 d.) Is fun or enjoyable 73 68 72 e.) Keeps you mentally active 80 74 78 f.) Keeps you physically active 61 56 60 g.) Makes you feel useful 74 70 73 h.) Lets you interact with other people

58 61 58

i.) Lets you help other people 54 58 55 j.) Makes use of your education 49 47 49 k.) Makes use of your previous work experience

49 41 47


61 55 60


126

Q 17 / 37. Importance of Selected Job Characteristics in Retirement Work (continued) Q17. Again, please think about the type of work that you may do in retirement. As I read each





% SOMEWHAT IMPORTANT Pre-retired workers



Total (n=1,384)


46 39 44

c.) Is your dream job 34 25 32

d.) Is fun or enjoyable 23 27 24

e.) Keeps you mentally active 19 23 20

f.) Keeps you physically active 33 33 33

g.) Makes you feel useful 22 26 23

h.) Lets you interact with other people

34 31 33

i.) Lets you help other people 38 31 37

j.) Makes use of your education 35 35 35


31 29 31


24 23 24


127





Importance of Selected Job Characteristics in Retirement Work: % NOT TOO IMPORTANT

Pre-retired workers who plan to work in retirement (n=1,020)


Total (n=1,384)


11 10 11







6 3 5




8 13 9


7 10 8


128





Importance of Selected Job Characteristics in Retirement Work: % NOT AT ALL IMPORTANT



Total (n=1,384)


7 17 10



e.) Keeps you mentally active * 1 1




2 5 3




11 16 12


7 11 8


129






% DON’T KNOW / REFUSED Pre-retired workers



Total (n=1,384)

a.) Is not too stressful * * * b.) Is not too physically demanding

* 1 *

c.) Is your dream job 1 2 1 d.) Is fun or enjoyable -- * * e.) Keeps you mentally active -- -- -- f.) Keeps you physically active * * * g.) Makes you feel useful -- * * h.) Lets you interact with other people

-- -- --

i.) Lets you help other people -- * * j.) Makes use of your education * * * k.) Makes use of your previous work experience

* 1 *


* -- *


130





Importance of Selected Job Characteristics in Retirement Work: % VERY / SOMEWHAT IMPORTANT



Total (n=1,384)


82 71 80







92 92 92




80 70 78


86 79 84


131





Importance of Selected Job Characteristics in Retirement Work: % NOT TOO / NOT AT ALL IMPORTANT



Total (n=1,384)


18 27 20







8 8 8




19 29 22


14 21 16


132

Q 18 / 40. Willingness to Take Rapidly Growing Jobs in Retirement Q18 Now, I’m going to read you a list of some types of jobs that are expected to have a lot of

openings in the future. As I read each job, please tell me whether you would be very willing, somewhat willing, not too willing, or not at all willing to do this type of work for pay in your retirement. Would you be willing to take a job in retirement as a . . . (Base: Pre-retired workers who plan to work in retirement)

Q40 Now, I’m going to read you a list of some types of jobs that are expected to have a lot of

openings in the future. As I read each job, please tell me whether you would be very willing, somewhat willing, not too willing, or not at all willing to do this type of work for pay in your retirement. Would you be willing to take a job as a . . . (Base: Workers who have retired from a job (Working retirees))

Willingness to Take Rapidly Growing Jobs in Retirement:

% VERY WILLING Pre-retired workers



Total (n=1,384)

a.) Secretary or receptionist 11 7 10 b.) Truck driver or courier 6 8 7 c.) Teacher 18 25 19 d.) Teaching assistant 13 17 14 e.) Security guard 5 7 6 f.) Janitor, or housekeeper, or maid

5 3 4


8 9 9

h.) Food service worker 6 3 5 i.) Child care worker 8 4 7 j.) Real estate agent 7 7 7 k.) Insurance agent 4 3 4 l.) Nursing assistant or home health care aide

7 5 6


9 7 9

n.) Waiter or waitress 2 1 2 o.) Customer service representative

15 9 14

p.) Retail salesperson 11 6 10 q.) Cashier 7 3 6 r.) Computer support specialist

10 11 11


133

Q 18 / 40. Willingness to Take Rapidly Growing Jobs in Retirement (continued) Q18 Now, I’m going to read you a list of some types of jobs that are expected to have a lot of





% SOMEWHAT WILLING Pre-retired workers



Total (n=1,384)

a.) Secretary or receptionist 21 19 20 b.) Truck driver or courier 21 22 22 c.) Teacher 30 24 29 d.) Teaching assistant 38 27 35

e.) Security guard 18 18 18

f.) Janitor, or housekeeper, or maid

14 13 14


19 18 19

h.) Food service worker 20 13 18

i.) Child care worker 22 15 21

j.) Real estate agent 23 25 24

k.) Insurance agent 10 9 10

l.) Nursing assistant or home health care aide

16 12 15


27 23 26

n.) Waiter or waitress 12 10 12

o.) Customer service representative

37 36 37

p.) Retail salesperson 33 22 31

q.) Cashier 28 22 27

r.) Computer support specialist

22 21 22


134






% NOT TOO WILLING Pre-retired workers



Total (n=1,384)



f.) Janitor, or housekeeper, or maid 9 8 9

g.) Bookkeeper or accounting clerk 9 6 9






11 6 10

m.) Landscaper or groundskeeper 10 8 9


o.) Customer service representative 7 8 7


q.) Cashier 11 7 10

r.) Computer support specialist 8 6 7


135






% NOT AT ALL WILLING Pre-retired workers



Total (n=1,384)

a.) Secretary or receptionist 60 68 62 b.) Truck driver or courier 64 64 64 c.) Teacher 44 47 45 d.) Teaching assistant 41 51 43 e.) Security guard 69 72 69 f.) Janitor, or housekeeper, or maid

72 77 73


63 67 64

h.) Food service worker 65 76 67 i.) Child care worker 59 74 63 j.) Real estate agent 60 62 61 k.) Insurance agent 77 81 78 l.) Nursing assistant or home health care aide

67 77 69


54 62 56

n.) Waiter or waitress 75 84 77 o.) Customer service representative

41 45 42

p.) Retail salesperson 45 61 49 q.) Cashier 53 68 56 r.) Computer support specialist

60 61 60


136






% DON’T KNOW / REFUSED Pre-retired workers



Total (n=1,384)

a.) Secretary or receptionist -- -- -- b.) Truck driver or courier * -- * c.) Teacher * * * d.) Teaching assistant * * *

e.) Security guard * -- *


-- -- --


-- -- --

h.) Food service worker * -- *

i.) Child care worker * -- *

j.) Real estate agent * -- *

k.) Insurance agent -- * *


* -- *

m.) Landscaper or groundskeeper * -- *

n.) Waiter or waitress * -- *


-- 1 *

p.) Retail salesperson -- -- --

q.) Cashier * -- *

r.) Computer support specialist * * *

Questions 18 and 40. * = Less than 0.5%

137






% VERY / SOMEWHAT WILLING Pre-retired workers



Total (n=1,384)




19 15 18


28 27 28






22 17 21

m.) Landscaper or groundskeeper 36 30 35



52 46 50



r.) Computer support specialist 32 32 32


138






% NOT TOO / NOT AT ALL WILLING Pre-retired workers



Total (n=1,384)




81 85 82


72 73 72






78 83 79


64 70 65



48 54 50



r.) Computer support specialist

68 67 68


139

VII. APPENDIX B: EXPLANATION OF SAMPLING Field Methodology and Sampling Overview The survey was conducted by telephone between April 9 and June 5, 2003. All interviews were conducted by RoperASW using its CATI (computer-assisted telephone interviewing) system. Random-digit dialing (RDD) procedures were used to select a nationally representative sample of households who were screened to identify individuals between the ages of 50 and 70 who were currently employed on a full-time or part-time basis. Interviews were completed with 2,001 individuals who met these criteria. The interviews were approximately 22 minutes in length. At least eight attempts were made to reach each selected household. If a respondent was unable to be interviewed when the interviewer called or if he or she was unable to finish an interview, the interviewer attempted to schedule a time to complete the interview. Selecting Respondents Within Households When more than one member of a selected household was eligible for the survey (between the ages of 50 and 70 and employed), interviewers asked to speak with the eligible household member who most recently had a birthday. This method resulted in a random selection. Margin of Sampling Error At the 95 percent confidence level, the sampling error for the following subsets of respondents is plus or minus 3 percentage points:

• all pre-retired respondents (n=1,637) • pre-retired respondents who plan to work in retirement or never retire (1,101) • pre-retired respondents who plan to work in retirement (n=1,020)

For pre-retirees who do not plan to work in retirement (n=471), the sampling error is plus or minus 5 percentage points. And, for working retirees (n=364), the sampling error is plus or minus 6 percentage points.

140

Weighting Weighting was used to correct for demographic differences between the achieved sample and the population that the sample represents. These differences result primarily from sampling error that is inherent in all samples, non-telephone coverage, and biases due to non-response. Post-stratification weighting procedures were used to correct the over- or under-representation of the samples on age, sex, education, employment status, and region of the country. The final weight variable yields a weighted sample that is representative of the U.S. population of employed adults 50 to 70 years of age and employed full- or part-time, on these key demographic variables.

Weighted and Unweighted Distributions of the Sample

on Variables Used in Weighting General Public

Unweighted Weighted Census:

March 2002 CPS Age within sex

Male 50-54 yrs 15% 23% 23% 55-59 yrs 14% 16% 16% 60-64 yrs 9% 9% 9% 65-70 yrs 6% 5% 5%

Female 50-54 yrs 21% 21% 21% 55-59 yrs 16% 14% 14% 60-64 yrs 11% 8% 8% 65-70 yrs 6% 4% 4%

Education

H.S. grad or less 33% 41% 41% Some college 26% 26% 26% College grad 40% 33% 33%

Region

Northeast 21% 21% 21% Midwest 28% 24% 24% South 31% 35% 35% West 19% 20% 20%

Employment Full-time 74% 83% 83% Part-time 26% 17% 17%

141

VIII. APPENDIX C: OCCUPATION CLASSIFICATION METHODOLOGY Responses to all survey questions addressing current or planned occupations (questions 8, 9, 26, 28, and 44) were grouped by RoperASW into one of its ten occupation categories using its standard occupation classification methodology. The ten occupation categories are executive, administrative, management; professional; owners-small retail store or business; farmers; technicians, minor administrative; white collar, clerical; sales; skilled and semi-skilled labor; unskilled labor; service and protective workers. For each of the ten occupation categories, the following list displays any occupations which would fall within that category. 1. EXECUTIVE, ADMINISTRATIVE, MANAGEMENT OFFICIALS AND ADMINISTRATORS, PUBLIC ADMINISTRATION LEGISLATORS CHIEF EXECUTIVES AND GENERAL ADMINISTRATORS OFFICIALS AND ADMINISTRATORS, GOVERNMENT AGENCIES JUDICIAL, PUBLIC SAFETY AND CORRECTIONS ADMINISTRATORS HUMAN RESOURCES PROGRAM ADMINISTRATORS NATURAL RESOURCES PROGRAM ADMINISTRATORS RURAL, URBAN, AND COMMUNITY DEVELOPMENT PROGRAM ADMINISTRATORS PUBLIC FINANCE, TAXATION, AND OTHER MONETARY PROGRAM ADMINISTRATORS OFFICIALS AND ADMINISTRATORS, PUBLIC ADMINISTRATION, NOT ELSEWHERE CLASSIFIED OFFICIALS AND ADMINISTRATORS, OTHER GENERAL MANAGERS AND OTHER TOP EXECUTIVES FINANCIAL MANAGERS PERSONNEL AND LABOR RELATIONS MANAGERS PURCHASING MANAGERS MANAGERS; MARKETING, ADVERTISING, AND PUBLIC RELATIONS MANAGERS; ENGINEERING, MATHEMATICS, AND NATURAL SCIENCES MANAGERS; SOCIAL SCIENCES AND RELATED FIELDS ADMINISTRATORS; EDUCATION AND RELATED FIELDS ADMINISTRATORS; COLLEGES AND UNIVERSITIES ADMINISTRATORS; ELEMENTARY AND SECONDARY EDUCATION ADMINISTRATORS; EDUCATION AND RELATED FIELDS, NOT CLASSIFIED ELSEWHERE MANAGERS; MEDICINE AND HEALTH PRODUCTION MANAGERS, INDUSTRIAL CONSTRUCTION MANAGERS PUBLIC UTILITIES MANAGERS COMMUNICATIONS OPERATIONS MANAGERS TRANSPORTATION FACILITIES AND OPERATIONS MANAGERS ELECTRICITY, GAS, WATER SUPPLY, AND SANITARY SERVICES MANAGERS POSTMASTERS AND MAIL SUPERINTENDENTS MANAGERS; SERVICE ORGANIZATIONS MANAGERS; FOOD SERVING AND LODGING ESTABLISHMENTS MANAGERS; ENTERTAINMENT AND RECREATION FACILITIES MANAGERS; PROPERTY AND LEASING MANAGERS; MEMBERSHIP ORGANIZATIONS MANAGERS; SERVICE ORGANIZATIONS, NOT ELSEWHERE CLASSIFIED MANAGERS; MINING, QUARRYING, WELL DRILLING, AND SIMILAR OPERATIONS MANAGERS; ADMINISTRATIVE SERVICES OFFICIALS AND ADMINISTRATORS; OTHER, NOT ELSEWHERE CLASSIFIED MANAGEMENT RELATED OCCUPATIONS ACCOUNTANTS, AUDITORS, AND OTHER FINANCIAL SPECIALISTS ACCOUNTANTS AND AUDITORS UNDERWRITERS LOAN OFFICERS OTHER FINANCIAL OFFICERS MANAGEMENT ANALYSTS PERSONNEL, TRAINING, AND LABOR RELATIONS SPECIALISTS PURCHASING AGENTS AND BUYERS BUYERS, WHOLESALE AND RETAIL TRADE, EXCEPT FARM PRODUCTS PURCHASING AGENTS AND BUYERS, FARM PRODUCTS

142

PURCHASING AGENTS AND BUYERS, NOT ELSEWHERE CLASSIFIED BUSINESS AND PROMOTION AGENT INSPECTORS AND COMPLIANCE OFFICERS CONSTRUCTION INSPECTORS INSPECTORS AND COMPLIANCE OFFICERS, EXCEPT CONSTRUCTION MANAGEMENT RELATED OCCUPATIONS, NOT ELSEWHERE CLASSIFIED 2. PROFESSIONAL ENGINEERS, SURVEYORS AND ARCHITECTS ARCHITECTS ENGINEERS AEROSPACE ENGINEERS METALLURGICAL AND MATERIAL ENGINEERS MINING ENGINEERS PETROLEUM ENGINEERS CHEMICAL ENGINEERS NUCLEAR ENGINEERS CIVIL ENGINEERS AGRICULTURAL ENGINEERS ELECTRICAL AND ELECTRONIC ENGINEERS INDUSTRIAL ENGINEERS MECHANICAL ENGINEERS COMPUTER ENGINEERS MARINE ENGINEERS AND NAVAL ARCHITECTS ENGINEERS, NOT ELSEWHERE CLASSIFIED SURVEYORS AND MAPPING SCIENTISTS LAND SURVEYORS CARTOGRAPHERS SURVEYORS AND MAPPING SCIENTISTS, NOT ELSEWHERE CLASSIFIED NATURAL SCIENTISTS AND MATHEMATICIANS COMPUTER, MATHEMATICAL, AND OPERATIONS RESEARCH OCCUPATIONS COMPUTER SCIENTISTS COMPUTER SYSTEMS ANALYSTS COMPUTER SCIENTISTS, NOT ELSEWHERE CLASSIFIED OPERATIONS AND SYSTEMS RESEARCHERS AND ANALYSTS OPERATIONS RESEARCHERS AND ANALYSTS SYSTEMS RESEARCHERS AND ANALYSTS, EXCEPT COMPUTER MATHEMATICAL SCIENTISTS ACTUARIES STATISTICIANS MATHEMATICAL SCIENTISTS, NOT ELSEWHERE CLASSIFIED NATURAL SCIENTISTS PHYSICAL SCIENTISTS ASTRONOMERS PHYSICISTS CHEMISTS, EXCEPT BIOCHEMISTS ATMOSPHERIC AND SPACE SCIENTISTS GEOLOGISTS PHYSICAL SCIENTISTS, NOT ELSEWHERE CLASSIFIED LIFE SCIENTISTS FORESTRY AND CONSERVATION SCIENTISTS AGRICULTURAL AND FOOD SCIENTISTS BIOLOGICAL SCIENTISTS MEDICAL SCIENTISTS SOCIAL SCIENTISTS, SOCIAL WORKERS, RELIGIOUS WORKERS, AND LAWYERS SOCIAL SCIENTISTS AND URBAN PLANNERS SOCIAL SCIENTISTS ECONOMISTS HISTORIANS POLITICAL SCIENTISTS PSYCHOLOGISTS SOCIOLOGISTS SOCIAL SCIENTISTS, NOT ELSEWHERE CLASSIFIED URBAN AND REGIONAL PLANNERS

143

SOCIAL, RECREATION, AND RELIGIOUS WORKERS SOCIAL AND RECREATION WORKERS SOCIAL WORKERS RECREATION WORKERS RELIGIOUS WORKERS CLERGY RELIGIOUS WORKERS, NOT ELSEWHERE CLASSIFIED LAWYERS AND JUDGES LAWYERS JUDGES TEACHERS, LIBRARIANS, AND COUNSELORS TEACHERS; COLLEGE, UNIVERSITY AND OTHER POSTSECONDARY INSTITUTION ATMOSPHERIC, EARTH, MARINE AND SPACE SCIENCES TEACHERS BIOLOGICAL SCIENCES TEACHERS CHEMISTRY TEACHERS PHYSICS TEACHERS NATURAL SCIENCES TEACHERS, NOT ELSEWHERE CLASSIFIED PSYCHOLOGY TEACHERS ECONOMICS TEACHERS HISTORY TEACHERS POLITICAL SCIENCE TEACHERS SOCIOLOGY TEACHERS SOCIAL SCIENCES TEACHERS, NOT ELSEWHERE CLASSIFIED ENGINEERING TEACHERS MATHEMATICAL SCIENCES TEACHERS COMPUTER SCIENCE TEACHERS MEDICAL SCIENCE TEACHERS HEALTH SPECIALTIES TEACHERS, NOT ELSEWHERE CLASSIFIED BUSINESS, COMMERCE AND MARKETING TEACHERS AGRICULTURAL TEACHERS ART, DRAMA, AND MUSIC TEACHERS PHYSICAL EDUCATION TEACHERS EDUCATION TEACHERS ENGLISH TEACHERS FOREIGN LANGUAGE TEACHERS LAW TEACHERS SOCIAL WORK TEACHERS THEOLOGY TEACHERS TRADE AND INDUSTRIAL TEACHERS HOME ECONOMICS TEACHERS TEACHERS; POSTSECONDARY, NOT ELSEWHERE CLASSIFIED TEACHERS, EXCEPT POSTSECONDARY INSTITUTION PREKINDERGARTEN TEACHERS ELEMENTARY SCHOOL TEACHERS SECONDARY SCHOOL TEACHERS TEACHERS; SPECIAL EDUCATION INSTRUCTIONAL COORDINATORS ADULT EDUCATION AND OTHER TEACHERS; NOT ELSEWHERE CLASSIFIED VOCATIONAL AND EDUCATIONAL COUNSELORS LIBRARIANS, ARCHIVISTS, AND CURATORS LIBRARIANS ARCHIVISTS AND CURATORS HEALTH DIAGNOSING AND TREATING PRACTITIONERS PHYSICIANS AND DENTISTS PHYSICIANS DENTISTS VETERINARIANS OTHER HEALTH DIAGNOSING AND TREATING PRACTITIONERS OPTOMETRISTS PODIATRISTS HEALTH DIAGNOSING AND TREATING PRACTITIONERS, NOT ELSEWHERE CLASSIFIED REGISTERED NURSES, PHARMACISTS, DIETITIANS, THERAPISTS, AND PHYSICIAN’S ASSISTANTS REGISTERED NURSES PHARMACISTS, DIETITIANS, THERAPISTS, AND PHYSICIANS ASSISTANTS PHARMACISTS DIETITIANS THERAPISTS

144

RESPIRATORY THERAPISTS OCCUPATIONAL THERAPISTS PHYSICAL THERAPISTS SPEECH PATHOLOGISTS AND AUDIOLOGISTS THERAPISTS, NOT ELSEWHERE CLASSIFIED PHYSICIAN’S ASSISTANTS WRITERS, ARTISTS, ENTERTAINERS, AND ATHLETES WRITERS, ARTISTS, PERFORMERS, AND RELATED WORKERS AUTHORS DESIGNERS MUSICIANS AND COMPOSERSACTORS AND DIRECTORS PAINTERS, SCULPTORS, CRAFT-ARTIST AND ARTIST-PRINTMAKERS PHOTOGRAPHERS DANCERS PERFORMERS, NOT ELSEWHERE CLASSIFIED WRITERS, ARTISTS, AND RELATED WORKERS; NOT ELSEWHERE CLASSIFIED EDITORS, REPORTERS, PUBLIC RELATIONS SPECIALISTS, AND ANNOUNCERS EDITORS AND REPORTERS EDITORS REPORTERS PUBLIC RELATIONS SPECIALISTS AND PUBLICITY WRITERS RADIO, TELEVISION AND OTHER ANNOUNCERS ATHLETES AND RELATED WORKERS 3. OWNER -- SMALL RETAIL STORE/BUSINESS (SELF EXPLANATORY) 4. FARMERS (SELF EXPLANATORY)

5. TECHNICIANS, MINOR ADMINISTRATIVE HEALTH TECHNOLOGISTS AND TECHNICIANS CLINICAL LABORATORY TECHNOLOGISTS AND TECHNICIANS DENTAL HYGIENISTS HEALTH RECORD TECHNOLOGISTS AND TECHNICIANS RADIOLOGICAL TECHNOLOGISTS AND TECHNICIANS LICENSED PRACTICAL NURSES HEALTH TECHNOLOGISTS AND TECHNICIANS, NOT ELSEWHERE CLASSIFIED TECHNOLOGISTS AND TECHNICIANS, EXCEPT HEALTH ENGINEERING AND RELATED TECHNOLOGISTS AND TECHNICIANS ENGINEERING TECHNOLOGISTS AND TECHNICIANS ELECTRICAL AND ELECTRONIC ENGINEERING TECHNOLOGISTS AND TECHNICIANS INDUSTRIAL ENGINEERING TECHNOLOGISTS AND TECHNICIANS MECHANICAL ENGINEERING TECHNOLOGISTS AND TECHNICIANS ENGINEERING TECHNOLOGISTS AND TECHNICIANS, NOT ELSEWHERE CLASSIFIED DRAFTING OCCUPATIONS SURVEYING AND MAPPING TECHNICIANS SURVEYING TECHNICIANS CARTOGRAPHIC TECHNICIANS SURVEYING AND MAPPING TECHNICIANS, NOT ELSEWHERE CLASSIFIED SCIENCE TECHNOLOGISTS AND TECHNICIANS BIOLOGICAL TECHNOLOGISTS AND TECHNICIANS, EXCEPT HEALTH CHEMICAL AND NUCLEAR TECHNOLOGISTS AND TECHNICIANS CHEMICAL TECHNOLOGISTS AND TECHNICIANS NUCLEAR TECHNOLOGISTS AND TECHNICIANS

145

PETROLEUM TECHNOLOGISTS AND TECHNICIANS MATHEMATICAL TECHNICIANS SCIENCE TECHNOLOGISTS AND TECHNICIANS, NOT ELSEWHERE CLASSIFIED TECHNICIANS; EXCEPT HEALTH, ENGINEERING, AND SCIENCE AIR TRAFFIC CONTROLLERS RADIO AND RELATED OPERATORS LEGAL TECHNICIANS PROGRAMMERS PROGRAMMERS, BUSINESS PROGRAMMERS, SCIENTIFIC PROGRAMMERS, NUMERICAL, TOOL AND PROCESS CONTROL TECHNICAL WRITERS TECHNICIANS, NOT ELSEWHERE CLASSIFIED SUPERVISORS; ADMINISTRATIVE SUPERVISORS; GENERAL OFFICE OCCUPATIONS SUPERVISORS;COMPUTER AND PERIPHERAL EQUIPMENT OPERATORS SUPERVISORS, SECRETARIES, STENOGRAPHERS AND TYPISTS SUPERVISORS; INFORMATION CLERKS SUPERVISORS; CORRESPONDENCE CLERKS AND ORDER CLERKS SUPERVISORS; RECORD CLERKS SUPERVISORS; FINANCIAL RECORD PROCESSING OCCUPATIONS SUPERVISORS; DUPLICATING, MAIL AND OTHER OFFICE MACHINE OPERATORS CHIEF COMMUNICATION OPERATORS SUPERVISORS; MAIL AND MESSAGE DISTRIBUTION CLERKS SUPERVISORS; MATERIAL RECORDING, SCHEDULING AND DISTRIBUTING CLERKS SUPERVISORS; ADJUSTERS, INVESTIGATORS AND COLLECTORS SUPERVISORS; MISCELLANEOUS ADMINISTRATIVE SUPPORT OCCUPATIONS

6. WHITE COLLAR, CLERICAL ADMINISTRATIVE SUPPORT OCCUPATIONS, INCLUDING CLERICAL COMPUTER AND PERIPHERAL EQUIPMENT OPERATORS COMPUTER OPERATORS PERIPHERAL EQUIPMENT OPERATOR SECRETARIES, STENOGRAPHERS AND TYPISTS SECRETARIES STENOGRAPHERS TYPISTS GENERAL OFFICE OCCUPATIONS INFORMATION CLERKS INTERVIEWING CLERKS HOTEL CLERKS RESERVATION AGENTS AND TRANSPORTATION TICKET CLERKS RECEPTIONISTS INFORMATION CLERKS, NOT ELSEWHERE CLASSIFIED CORRESPONDENCE CLERKS AND ORDER CLERKS CLASSIFIED AD CLERKS CORRESPONDENCE CLERKS ORDER CLERKS RECORD CLERKS PERSONNEL CLERKS, EXCEPT PAYROLL AND TIMEKEEPING LIBRARY CLERKS FILE CLERKS RECORD CLERKS, NOT ELSEWHERE CLASSIFIED FINANCIAL RECORD PROCESSING OCCUPATIONS BOOKKEEPERS AND ACCOUNTING AND AUDITING CLERKS PAYROLL AND TIMEKEEPING CLERKS BILLING CLERKS COST AND RATE CLERKS BILLING, POSTING AND CALCULATING MACHINE OPERATORS DUPLICATING, MAIL AND OTHER OFFICE MACHINE OPERATORS DUPLICATING MACHINE OPERATORS MAIL PREPARING AND HANDLING MACHINE OPERATORS OFFICE MACHINE OPERATORS, NOT ELSEWHERE CLASSIFIED COMMUNICATIONS EQUIPMENT OPERATORS

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TELEPHONE OPERATORS TELEGRAPHERS COMMUNICATIONS EQUIPMENT OPERATORS, NOT ELSEWHERE CLASSIFIED MAIL AND MESSAGE DISTRIBUTING OCCUPATIONS POSTAL CLERKS, EXCEPT MAIL CARRIERS MAIL CARRIERS, POST OFFICE MAIL CLERKS, EXCEPT POST OFFICE MESSENGERS MATERIAL RECORDING, SCHEDULING AND DISTRIBUTING CLERKS DISPATCHERS PRODUCTION AND PLANNING CLERKS TRAFFIC, SHIPPING AND RECEIVING CLERKS STOCK AND INVENTORY CLERKS METER READERS WEIGHERS, MEASURERS AND CHECKERS SAMPLERS EXPEDITERS MATERIAL RECORDING, SCHEDULING AND DISTRIBUTING CLERKS, NOT ELSEWHERE CLASSIFIED ADJUSTERS, INVESTIGATORS AND COLLECTORS INSURANCE ADJUSTERS, EXAMINERS AND INVESTIGATORS INVESTIGATORS AND ADJUSTERS, EXCEPT INSURANCE CLERKS, SOCIAL WELFARE BILL AND ACCOUNT COLLECTORS LICENSE COLLECTORS MISCELLANEOUS ADMINISTRATIVE SUPPORT OCCUPATIONS, INCLUDING CLERICAL BANK TELLERS PROOF READERS DATA ENTRY KEYERS STATISTICAL CLERKS TEACHER AIDES ADMINISTRATIVE SUPPORT OCCUPATIONS, INCLUDING CLERICAL, NOT ELSEWHERE CLASSIFIED

7. SALES MARKETING AND SALES OCCUPATIONS SUPERVISORS; MARKETING AND SALES OCCUPATIONS SUPERVISORS; SALES OCCUPATIONS, INSURANCE, REAL ESTATE, AND BUSINESS SERVICES SUPERVISORS; SALES OCCUPATIONS, COMMODITIES EXCEPT RETAIL SUPERVISORS; SALES OCCUPATIONS, RETAIL INSURANCE, REAL ESTATE AND SECURITIES SALES OCCUPATIONS INSURANCE SALES OCCUPATIONS REAL ESTATE SALES OCCUPATIONS SECURITIES AND FINANCIAL SERVICES SALES OCCUPATIONS BUSINESS SERVICE SALES OCCUPATIONS BUSINESS SERVICE, EXCEPT ADVERTISING, SALES OCCUPATIONS ADVERTISING AND RELATED SALES OCCUPATIONS SALES OCCUPATIONS, COMMODITIES EXCEPT RETAIL SALES ENGINEERS TECHNICAL SALES WORKERS AND SERVICE ADVISORS TECHNICAL SALES WORKERS, AIRCRAFT TECHNICAL SALES WORKERS, AGRICULTURAL EQUIPMENT AND SUPPLIES TECHNICAL SALES WORKERS, ELECTRONIC EQUIPMENT TECHNICAL SALES WORKERS, INDUSTRIAL MACHINERY, EQUIPMENT AND SUPPLIES TECHNICAL SALES WORKERS, MEDICAL AND DENTAL EQUIPMENT AND SUPPLIES TECHNICAL SALES WORKERS, CHEMICALS AND CHEMICAL PRODUCTS TECHNICAL SALES WORKERS, NOT ELSEWHERE CLASSIFIED SALES REPRESENTATIVES SALES REPRESENTATIVES, COMMERCIAL AND INDUSTRIAL EQUIPMENT AND SUPPLIES SALES REPRESENTATIVES, GARMENTS AND RELATED TEXTILE PRODUCTS SALES REPRESENTATIVES, MOTOR VEHICLES AND SUPPLIES SALES REPRESENTATIVES, PULP, PAPER AND PAPER PRODUCTS SALES REPRESENTATIVES, FARM PRODUCTS AND LIVESTOCK SALES REPRESENTATIVES, NOT ELSEWHERE CLASSIFIED SALES OCCUPATIONS, RETAIL SALESPERSONS, COMMODITIES

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SALESPERSONS, MOTOR VEHICLES, MOBILE HOMES AND SUPPLIES SALESPERSONS, MUSICAL INSTRUMENTS AND SUPPLIES SALESPERSONS, BOATS AND MARINE EQUIPMENT AND SUPPLIES SALESPERSONS, SPORTING GOODS SALESPERSONS, GARMENTS AND TEXTILE PRODUCTS SALESPERSONS, BOOKS, STAMPS, COINS AND STATIONERY SALESPERSONS, FURNITURE AND HOME FURNISHINGS SALESPERSONS, SHOES SALESPERSONS, RADIO, TELEVISION, HIGH FIDELITY AND HOUSEHOLD APPLIANCES SALESPERSONS, HARDWARE SALESPERSONS, COSMETICS, TOILETRIES AND ALLIED PRODUCTS SALESPERSONS, JEWELRY AND RELATED PRODUCTS SALESPERSONS, NOT ELSEWHERE CLASSIFIED SALES OCCUPATIONS, OTHER SALES CLERKS COUNTER CLERKS CASHIERS NEWS VENDORS STREET VENDORS, DOOR-TO-DOOR SALES WORKERS AND RELATED OCCUPATIONS SALESPERSONS, PARTS SALES OCCUPATIONS, NOT ELSEWHERE CLASSIFIED SALES RELATED OCCUPATIONS APPRAISERS AND RELATED OCCUPATIONS DEMONSTRATORS, PROMOTERS AND MODELS SHOPPERS AUCTIONEERS SALES OCCUPATIONS; OTHER, NOT ELSEWHERE CLASSIFIED

8. SKILLED, SEMI SKILLED LABOR PRECISION PRODUCTION, CRAFT AND REPAIR MECHANICS AND REPAIRS CONSTRUCTION TRADES OTHER PRECISION PRODUCTION, CRAFT AND REPAIR OPERATORS, FABRICATORS AND LABORERS MACHINE OPERATORS, ASSEMBLERS AND INSPECTORS MANUFACTURING INDUSTRIES DURABLE GOODS NONDURABLE GOODS NONMANUFACTURING INDUSTRIES TRANSPORTATION AND MATERIAL MOVING OCCUPATIONS MOTOR VEHICLE OPERATORS OTHER TRANSPORTATION AND MATERIAL MOVING OCCUPATIONS 9. UNSKILLED LABOR HANDLERS, EQUIPMENT CLEANERS, HELPERS AND LABORERS CONSTRUCTION LABORERS OTHER HANDLERS, EQUIPMENT CLEANERS, HELPERS AND LABORERS

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10. SERVICE AND PROTECTIVE WORKERS PRIVATE HOUSEHOLD OCCUPATIONS DAY WORKERS LAUNDERERS AND IRONERS COOKS, PRIVATE HOUSEHOLD HOUSEKEEPERS AND BUTLERS CHILD CARE WORKERS, PRIVATE HOUSEHOLD PRIVATE HOUSEHOLD CLEANERS AND SERVANTS PRIVATE HOUSEHOLD OCCUPATIONS, NOT ELSEWHERE CLASSIFIED PROTECTIVE SERVICE OCCUPATIONS SUPERVISORS; SERVICE OCCUPATIONS, PROTECTIVE SUPERVISORS; FIREFIGHTING AND FIRE PREVENTION OCCUPATIONS SUPERVISORS; POLICE AND DETECTIVES SUPERVISORS; GUARDS FIREFIGHTING AND FIRE PREVENTION OCCUPATIONS FIRE INSPECTION AND FIRE PREVENTION OCCUPATIONS FIREFIGHTING OCCUPATIONS POLICE AND DETECTIVES POLICE AND DETECTIVES, PUBLIC SERVICE CORRECTIONAL INSTITUTION OFFICERS SHERIFFS, BAILIFFS AND OTHER LAW ENFORCEMENT OFFICERS GUARDS CROSSING GUARDS GUARDS AND POLICE, EXCEPT PUBLIC SERVICE PROTECTIVE SERVICE OCCUPATIONS, NOT ELSEWHERE CLASSIFIED SERVICE OCCUPATIONS, EXCEPT PRIVATE HOUSEHOLD AND PROTECTIVE FOOD AND BEVERAGE PREPARATION AND SERVICE OCCUPATIONS SUPERVISORS; FOOD AND BEVERAGE PREPARATION AND SERVICE OCCUPATIONS BARTENDERS WAITERS AND WAITRESSES COOKS, EXCEPT SHORT ORDER SHORT ORDER COOKS FOOD COUNTER, FOUNTAIN AND RELATED OCCUPATIONS KITCHEN WORKERS, FOOD PREPARATION WAITERS’/WAITRESSES’ ASSISTANTS MISCELLANEOUS FOOD AND BEVERAGE PREPARATION OCCUPATIONS HEALTH SERVICE OCCUPATIONS DENTAL ASSISTANTS HEALTH AIDES, EXCEPT NURSING NURSING AIDES, ORDERLIES AND ATTENDANTS CLEANING AND BUILDING SERVICE OCCUPATIONS, EXCEPT PRIVATE HOUSEHOLD SUPERVISORS; CLEANING AND BUILDING SERVICE WORKERS MAIDS AND HOUSEMEN JANITORS AND CLEANERS ELEVATOR OPERATORS PEST CONTROL OCCUPATIONS CLEANING AND BUILDING SERVICE OCCUPATIONS, NOT ELSEWHERE CLASSIFIED PERSONAL SERVICE OCCUPATIONS SUPERVISORS; PERSONAL SERVICE OCCUPATIONS BARBERS HAIRDRESSERS AND COSMETOLOGISTS ATTENDANTS, AMUSEMENT AND RECREATION FACILITIES GUIDES USHERS PUBLIC TRANSPORTATION ATTENDANTS WARDROBE AND DRESSING ROOM ATTENDANTS BAGGAGE PORTERS AND BELLHOPS WELFARE SERVICE AIDES CHILD CARE WORKERS, EXCEPT PRIVATE HOUSEHOLD PERSONAL SERVICE OCCUPATIONS, NOT ELSEWHERE CLASSIFIED

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IX. APPENDIX D: STATISTICAL METHODS USED IN SEGMENTATION

Segmentation is the process of separating people into groups based on their behaviors and/or attitudes. The three working in retirement groups described in section VI of this report were identified by grouping survey respondents based on their reported reasons for considering retirement work and the extent to which they say that selected employer characteristics and intangible benefits are important in a retirement job. The segmentation process consisted of three steps: preparing the data, principal components analysis, and cluster analysis. Each step is described below. Preparing the Data In order to combine similar questions asked of working retirees and pre-retirees who plan to work in retirement, the following questions were combined:

• Question 6 and 32 (reasons for considering retirement work) • Question 16 and 36 (importance of various employer and job characteristics in retirement

work) • Question 17 and 37 (importance of various intangible benefits from retirement work)

Principal Components Analysis Questionnaires are often designed to capture the nuances of respondents’ views on a particular topic in order to more thoroughly examine respondent attitudes. A questionnaire designed in this manner may contain several questions that examine similar, but distinct, issues. In order to analyze the responses to such a questionnaire, a data reduction technique such as principal components analysis may be used to identify the basic concepts or components underlying a series of survey questions. If the principal components analysis reveals underlying concepts, also known as “principal components,” it is appropriate to use these principal components rather than the individual survey questions in subsequent cluster analyses. The use of principal components in a cluster analysis will reduce the likelihood that the cluster analysis results will be biased toward issues which are addressed by multiple survey questions. For this study, principal components analyses were conducted on the following sets of questions:

• Question 6/32 (reasons for working in retirement) • Questions 16/36 and 17/37 (importance of various employer and job characteristics and

intangible benefits in retirement work) The first principal components analysis for combined question 6/32 resulted in three dimensions. However, because items f and d appeared inconsistent with the other variables in their groupings, the analysis for question 6/32 was rerun without each of these items. The resulting analysis detected the following three basic concepts underlying respondents’ reasons for considering retirement work:

• Involvement (Q6/32 i, g, j, e) • Enjoyment (Q6/32 c, h) • Compensation (Q6/32 b, a)

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A principal components analysis was then run on combined questions 16/36 and 17/37. The initial analysis resulted in six dimensions. However, because items f and j from question 16/36 appeared to be inconsistent with the other variables with which they were grouped, the analysis was rerun after removing each item. The resulting analysis on questions 16/36 and 17/37 detected the following five basic concepts underlying those things that are important to respondents in retirement work:

• Good employer treatment: pay, benefits, respectful of employees (Q16/36 e, l, g, k, d, b; Q17/37 l)

• Involvement: mentally and physically active, help others, fun, useful, new experiences and skills (Q17/37 e, g, h, i, d, f; Q16/36 c, a)

• Control: set own hours, work from home, work for self, dream job (Q16/36 i, m, h; Q17/37 c)

• Use of experience (Q17/37 k, j) • Not excessively demanding, mentally or physically (Q17/37 a, b)

Cluster Analysis The following survey items were included in the cluster analysis:

• The three principal component scores from Q6/32 • The five principal component scores from Q16/36 and 17/37 • The z scores for the items that were removed from the principal components analyses:

Q6/32 items f and d, Q16/36 items f and j The cluster analysis was run several times using the K-means partition clustering method. Solutions with 2, 3, 4, 5, and 6 segments were evaluated. After examining each solution based on the interpretability of each segment, the extent to which each segment differed from the others, and the size of each segment, the solutions with 2 and 6 segments were dropped from further consideration. The other solutions were tested using Wards hierarchical clustering to determine which solution was best replicated. After further examination and comparison between the Wards and K-means solutions, the 3-segment solution was selected.

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