Workers' ignorance of retirement benefits

PURPOSE: This study considered the extent of workers' unfamiliarity with retirement benefits, a problem that could compromise informed retirement planning. DESIGN AND METHODS: Among workers in the 1992 Health and Retirement Study, we examined the frequency of "don't know" responses to question series about employer pensions, health insurance, and Social Security. RESULTS: Eligible workers readily offered responses about the shared, public details of pension plans, but knowledge about personal pension wealth was lacking for one third of persons in defined benefit plans and for one fifth of those in defined contribution plans. Among household financial respondents, 14% did not know about health insurance continuation after retirement, and 52% could not offer an expected Social Security amount. Such nonresponse was patterned by proximity to retirement and by social and occupational factors. IMPLICATIONS: More than a problem of missing data, these findings argue for a theoretical reconsideration of the role of financial knowledge in retirement behavior. Ignorance of benefits is probably less a problem of disclosure than of workers' inattention to available information.     

Die Bedeutung der Arbeit beim vorzeitigen Ausscheiden aus dem Arbeitsleben

Since the mid-1990s, many German companies have used the part-time retirement scheme (Altersteilzeit) as an opportunity to release older workers. This was often consistent with the interests of the workers themselves. This paper explores whether workers who participate in this early retirement scheme would like to continue to work. A survey of all the workers in one company who participated in the part-time retirement scheme revealed that those already retired would more often like to continue working than employees who are still awaiting retirement. To a greater extent, early retirees would also like to return to work with shorter working hours or for a time-limited project. Results are explained with the affective forecasting bias that is based on the psychological decision theory and economic utility theory – the future utility of an action cannot be anticipated. The “reflective thinking” approach moreover invites the conclusion that the diverging interest of the two groups in continued employment may be due to the different stage of practical knowledge about the situation in (pre-)retirement.     

Orderly endings: do men know when they will retire?

In order to describe the subjective (as opposed to the statistical) predictability of the retirement event, this study examined the timing of men's retirement relative to their own expectations. On-time and off-time retirements were assessed in a panel of older workers, participants in the VA Normative Aging Study, who were surveyed about work and retirement in 1978, 1981, and 1984. Over spans of two years, 66 percent of workers accurately predicted their eventual date of retirement (+/- 1 year), and 40 percent were exact to within three months. However, approximately one-third of workers did not accurately foresee their date of retirement, having either unfulfilled plans or unanticipated retirements. From a life course perspective, we interpret retirement as an orderly event when two-thirds of a sample can retire as planned. From a practical perspective (e.g., an interest in program development or research design), retirement is not orderly enough when one-third of exits are unscheduled.     

Involuntary retirement: the role of restrictive circumstances, timing, and social embeddedness

OBJECTIVES: This study examined perceptions of involuntary retirement. We investigated the extent to which differences in how retirement is perceived stem from differences in (a) restrictive circumstances, (b) the older worker's preferences for retirement, (c) timing, and (d) social embeddedness. METHODS: Using multiactor panel data from 778 Dutch older workers who experienced the transition into retirement, we estimated an ordered logistic model to explain perceptions of involuntary retirement. RESULTS: This study showed that the way in which a person experiences retirement from the labor force is not influenced solely by factors that diminish the older worker's amount of choice (health and organizational constraints) but also relates to the older worker's social environment (social timing and social network influences). DISCUSSION: The way he or she frames the retirement transition in social relationships within the family and at work affects the older worker's subjective experience of retirement.     

Disparities in HIV knowledge and attitudes toward biomedical interventions among the non-medical HIV workforce in the United States

Non-medical, community-based workers play a critical role in supporting people living with (or at risk of acquiring) HIV along the care continuum. The biomedical nature of promising advances in HIV prevention, such as pre-exposure prophylaxis and treatment-as-prevention, requires frontline workers to be knowledgeable about HIV science and treatment. This study was developed to: measure knowledge of HIV science and treatment within the HIV non-medical workforce, evaluate workers’ familiarity with and attitudes toward recent biomedical interventions, and identify factors that may affect HIV knowledge and attitudes. A 62-question, web-based survey was completed in English or Spanish between 2012 and 2014 by 3663 US-based employees, contractors, and volunteers working in AIDS service organizations, state/local health departments, and other community-based organizations in a non-medical capacity. Survey items captured the following: respondent demographics, HIV science and treatment knowledge, and familiarity with and attitudes toward biomedical interventions. An average of 61% of HIV knowledge questions were answered correctly. Higher knowledge scores were associated with higher education levels, work at organizations that serve people living with HIV/AIDS or who are at a high risk of acquiring HIV, and longer tenure in the field. Lower knowledge scores were associated with non-Hispanic Black or Black race/ethnicity and taking the survey in Spanish. Similarly, subgroup analyses showed that respondents who were non-Hispanic Black or Hispanic (versus non-Hispanic white), as well as those located in the South (versus other regions) scored significantly lower. These subpopulations were also less familiar with and had less positive attitudes toward newer biomedical prevention interventions. Respondents who took the survey in Spanish (versus English) had lower knowledge scores and higher familiarity with, but generally less positive attitudes toward, biomedical interventions. In summary, low knowledge scores suggest the need for additional capacity-building efforts and training for non-medical HIV workers, particularly those who provide services in the communities most affected by HIV.     

Proximity to retirement and anticipatory involvement: findings from the Normative Aging Study

This study investigated the level of workers' informal retirement-oriented behavior in the years preceding retirement. Two research questions were addressed: (a) What is the relationship between retirement proximity and preretirement involvement behaviors, and (b) How might retirement involvement levels be further affected by attitude toward retirement, job characteristics, and personal resources? Data were collected from 816 male workers participating in a long-term panel study of aging who anticipated retiring within the next 15 years. Results indicated that preretirement involvement increased with retirement proximity and that the association held even among men who dreaded retirement or were satisfied with their jobs. These findings suggest that a process of anticipating retirement is underway well in advance of withdrawal from work and that a gathering involvement in retirement is normative as the event approaches.     

Working conditions as predictors of retirement intentions and exit from paid employment: a 10-year follow-up of the English Longitudinal Study of Ageing

Population ageing in Western countries has made delayed retirement and extended working life a policy priority in recent years. Retirement timing has been linked to individual factors such as health and wealth, but less is known about the role of the psychosocial work environment. This paper drew upon longitudinal data on 3462 workers aged 50–69 from five waves of the English Longitudinal Study of Ageing (ELSA). Regression models were used to assess the association of working conditions with preferred timing of retirement and actual work exit. Adjusting for a range of covariates, job demands (aspects of the job requiring sustained physical or psychological effort) were associated with preferences for earlier retirement (by 0.18 years; 95 % C.I. 0.06, 0.31). Decision authority was associated with preferences for later retirement (by 0.38 years; 95 % C.I. 0.23, 0.53) and reduced odds of work exit (OR = 0.93; 95 % C.I. 0.88, 0.97). Low recognition at work was associated with increased odds of work exit (OR = 1.23; 95 % C.I. 1.10, 1.43). There was little evidence of any interactive relationship between demands and resources. Efforts to extend working life should address issues relating to the immediate psychosocial work environment. Providing older workers with increased sense of control, and ensuring contributions are adequately recognised, may delay retirement intentions and the timing of labour market exit.     

Determinants of a positive attitude toward retirement.

This research investigates the possibility that attitude toward retirement is better understood as resulting from the worker's realistic appraisal of the type of retirement experience which he can expect than as part of a general value orientation stressing the worker role. Questionnaire data collected from 70 older industrial workers indicate that workers who can expect a positive retirement experience in terms of finances, friends, social activity, and level of preparedness are likely to have a positive attitude toward retirement. No relationship was found between commitment to work and attitude toward retirement.     

Changing work: Mid-to-late life transitions in employment

Job transition is an important, though largely unexplored aspect of work. The Centre for Research into the Older Workforce (CROW) conducted a survey of 5,200 people asking about their recent job transition. The experience of job transition in mid-to-late working life is discussed as a precursor to retirement and working beyond normal retirement ages. Three types of older worker were identified in this survey and dubbed: ‘choosers’, ‘survivors’ and ‘jugglers’. Each of these has different reason for making a job change and consequently different reasons for considering working after retirement. Flexible working is an attractive and popular option for ‘bridge’ jobs and for phasing into retirement but current British government policy is focused on equality and diversity and anti-age discrimination in employment practices. Little is being done to encourage more diverse forms of employment opportunities for older workers who either need or want to downshift before leaving work completely. Her research interests are older workers, gender and age discrimination, labor market policy and work organization. His research interests are older workers, job design, Human Resources practices, age discrimination, labor market trends, industrial relations and public policy.     

Organizations' environment and retirement: the relationship between women's retirement, environmental munificence, dynamism, and local unemployment rate

OBJECTIVES: Low munificence and high dynamism of an industry's environment and high local area unemployment rates were assumed to indicate uncertainty and influence retirement. It was predicted that, while controlling for personal variables, rates of retirement would vary across industries, that munificence would have a negative relationship with retirement, and that dynamism and unemployment rate would have positive relationships with retirement. METHODS: The study relies on four waves (from 1986 to 1992) of data from the National Longitudinal Survey's Mature Women Cohort, and logistic regression was used to examine the extent of the proposed relationships. RESULTS: Retirement rate varied across industries and had a positive relationship with munificent environments, but retirement was not related to dynamism or unemployment rates. CONCLUSIONS: The results suggest that environmental factors may influence retirement timing. Additional theoretical and empirical work is suggested to help sort out direct environmental effects and possible moderating third variables.     

Predicting the retirement intentions and attitudes of professional workers

The purpose of this study was to examine the intentions about and attitudes toward retirement of professional workers, one of the more neglected groups in the retirement literature. Four types of professionals were represented: attorneys, social workers, high school teachers, and college professors. Intentions were defined in terms of projections regarding when respondents planned to retire, consideration of early retirement, and thinking about life after retirement. Attitudes were measured by using a set of three previously developed attitude scales. Six kinds of independent variables were controlled: (a) certain social factors (gender, age, and profession), (b) alienation from work and everyday life, (c) work history, (d) life-long habits of using free time constructively, (e) extensiveness of financial preparation, and plans for second careers and new involvements were the most consistent predictors of both intentions and attitudes. Alienation and certain types of financial preparation were by far the major variables.     

The efficacy of preretirement preparation programs for industrial workers.

The ability of preretirement programs to generate changes which will facilitate the transition to retirement was investigated. A research design incorporating two experimental groups and one control group was employed to evaluate a group discussion program and an individual briefing program. Questionnaire data were collected prior to the programs and 1 mo. after program completion. Over 70 hourly and salaried male workers, age 60+, participated in the project. The group discussion program was effective in increasing knowledge of retirement issues. Participants felt better prepared for retirement and evidenced less uncertainty about the future. They also exhibited a significant increase in the number of preparation activities undertaken and the prevalence of retirement plans. Effectiveness of the individual briefing program was relatively minimal. This study indicated that a comprehensive preretirement program can produce favorable changes in retirement-related knowledge, attitudes, and behavior.     

Attitudes toward retirement in an Israeli cohort

The three-fold purpose of this study was 1) to clarify the concept of "attitudes toward retirement" and its multidimensional structure; 2) to test hypotheses about the relationship between attitudes and gender and SES; and 3) to analyze the relationship between attitudes and the Sense of Coherence concept in terms of the functional consequences of different attitudes. A sample of 805 (432 men and 373 women) Israeli "on-time" people on the verge of retirement were interviewed. Results point to the importance of distinguishing between perceptions of gains and losses in the retirement developmental transition; identification of blue-collar workers, with ambivalent attitudes, as a high-risk group; and the importance of a strong Sense of Coherence in adopting attitudes presumably functional in coping with the developmental transition.     

Who opts for self-employment after retirement? A longitudinal study in the Netherlands

Self-employment among older age groups is rising. A better understanding of the role of self-employment in extending the working lives of individuals is, therefore, relevant from a policy perspective. By bridging the gap in the literature on work/retirement decision-making and entrepreneurship, the present study examines the factors associated with entry into self-employment post-retirement, after a worker has left a regular salaried position. This decision is modelled as a choice between full retirement and prolonged labour force participation, in the form of either a typical wage-providing job or self-employment. Data were derived from the Netherlands Interdisciplinary Demographic Institute Work and Retirement Panel, an ongoing longitudinal survey of older workers (50 years and over) employed by three private sector organisations and employed as civil servants in the Netherlands. These data were then analysed using multinomial logistic regression analysis. The results of this study show that the decision to pursue self-employment is primarily taken by retirees with relatively high levels of financial and human capital (wealth and educational attainment), those possessing entrepreneurial attitudes (high self-efficacy scores) and those who perceive their retirements to be completely involuntary. The results lend support to self-employment being selected as a postretirement path through opportunity rather than out of necessity. The fact that the retirements of the studied population were generally quite early, while not considered involuntary also suggests that the timing of the decision to retire may be driven by the emergence of new (business) opportunities.     

The transition to retirement: stages and factors that influence retirement adjustment

A set of older workers from the Raleigh-Durham-Chapel Hill, North Carolina metropolitan area were followed from pre-retirement to 24 months post-retirement in order to explore stages in retirement and the impact of social psychological, social background, and gender factors on the retirement adjustment. First, we found general support for Atchley's model of retirement adjustment (1976). Second, the factors that influence retirement adjustment in the data analysis revealed that: 1) pre-retirement self-esteem and friend identity meanings, as well as pension eligibility, increased positive attitudes toward retirement at six months, 12 months, and 24 months post-retirement; 2) retirement planning and voluntary retirement increased positive attitudes toward retirement earlier, but not later, in the first two years of retirement; 3) poor health decreased positive attitudes toward retirement later rather than earlier in the first two years of retirement; and 4) there were only limited gender effects.     

The role of job-related rewards in retirement planning

The authors used data from the first wave of the Health and Retirement Study ( F. Juster and R. Suzman 1995) to evaluate whether certain job-related gratifications might reduce retirement planning. Three definitions of retirement planning were evaluated and then regressed separately on a set of variables that included 3 types of job-related satisfactions (intrinsic gratification, positive social relations, and ascendance in the workplace) and 7 covariates: education, age, sex, health, marital status, race, and pension eligibility. Findings indicated that jobs high in ascendance were related to an increase in certain types of retirement planning, but jobs high in intrinsic rewards and positive social relations were related to less planning, regardless of how planning was defined. The findings suggest that information about work-related rewards may be useful in targeting individuals who might benefit from retirement planning programs, in developing planning programs to help workers realize more complex retirement plans, and in assisting employers who hope to retain older workers.     

Predictors of perceptions of involuntary retirement

PURPOSE: Retirement is often treated as a voluntary transition, yet selected circumstances can restrict choice in retirement decision processes. We investigated conditions under which retirees perceive their retirement as "forced" rather than "wanted." METHODS: Analyses relied on Waves 1-4 of the Health and Retirement Survey (N=1,160; 572 men and 588 women). Logistic regression models estimated the effects of background factors, choice and restricted choice conditions, and retirement contexts on perceptions of forced retirement. RESULTS: Nearly one third of older workers perceived their retirement as forced. Such forced retirement reflects restricted choice through health limitations, job displacement, and care obligations. Other predictors include marital status, race, assets, benefits, job tenure, and off-time retirement. IMPLICATIONS: Future research should establish personal and policy implications of forced retirement. Programs are needed to help older workers forced into retirement find alternative employment opportunities and to reduce the conditions leading to forced retirement.     

Comparison of psychologic stress responses in patients and spouses ten weeks after a cardiac illness event.

A stress scale that is brief and easy to administer would be clinically useful to assess patients' and spouses' psychological stress responses to a cardiac illness situation and provide objective data for health care recommendations. The purpose of this study was to: a) develop and test an instrument to evaluate the stress or difficulties associated with the recovery process after a cardiac event; and b) assess the similarities and differences between patients' and spouses' perceptions of stress. Stress was conceptualized to be reflected by two broad dimensions, namely environmental stress and individual stress. A correlational survey design was used to examine patients' (n = 180) and spouses' (n = 168) stress responses 10 weeks after the cardiac event. The findings suggested that the tool demonstrated satisfactory reliability and validity in measuring the patients' but to a lesser extent the spouses' stress responses. The three most significant stresses reported by most patients were uncertainty about if and when the illness might recur, not being able to participate in work or retirement activities, and adopting a low cholesterol diet. For the majority of spouses, the three most significant stresses were uncertainty about the husband's illness, increased demands within the marital relationship, and assuming more family roles. For those individuals trying to quit smoking or who quit immediately prior to the cardiac event, smoking was the most stressful change for patients and the second most stressful for spouses. Educational programs for cardiac patients and spouses need to provide information related to these stresses to offset the potentially adverse impact of stress and promote adjustment.     

Anticipatory Socialization for Retirement: A Multilevel Dyadic Model

Role theory, widely used to examine human behavior, has often been used to describe the transition from work to retirement. Anticipatory socialization, a role theory concept, describes the process that occurs prior to role transitions and assists in that transition by helping individuals learn the norms for the new role. However, not all workers engage in retirement planning. Lack of retirement planning is of concern because those individuals who do not plan for major life transitions tend to be less successful in adjusting to role changes. Data from the Health and Retirement Study were used; selection criteria required participants to be age 45 or older, working full- or part-time, and have complete data for the study variables. Multilevel modeling results of dyadic data from the Health and Retirement Study (N?=?1,028 dual-earner couples) indicate that older age, being White, higher income, greater retirement wealth, and looking forward to retirement predicted greater anticipatory socialization (i.e., thinking about and discussing retirement) by both husbands and wives. For wives only, having a health problem limiting work, higher spouse occupational status, and having a spouse who was looking forward to retirement predicted more anticipatory socialization. For husbands only, higher education, higher depressive symptomatology, and lower occupational status predicted more anticipatory socialization. This study found evidence of spousal congruence, with husbands, on average, engaging in more anticipatory socialization than wives. These findings identify couples that could most benefit from targeted efforts to increase anticipatory socialization, which predicts better retirement adjustment and satisfaction.     

Class, cohort, and consumption: the British experience of the third age

OBJECTIVE: This study examines the relative effect of historical and social class location on engagement in consumerism within two different cohorts of retired people in the United Kingdom. METHODS: With use of self-reported data from the retired members of a nationally representative survey, an index of consumption was constructed. Its internal reliability was analysed and analyses of variance performed to examine the impact of class of origin, cohort, and class at exit on levels of self-reported "consumerism." RESULT: The index demonstrated sufficient internal reliability to provide an operational measurement of "consumerism" within this retired population. Analyses of variance confirmed that class at exit and cohort but not class of origin contributed significantly to variation in levels of consumerism. These effects were not mediated by cohort differences in health. DISCUSSION: Occupational standing immediately before retirement was associated with "consumerism" after retirement. This is unsurprising. The results also show that birth cohort exercised a stronger historical influence on current consumption in later life than did class background (i.e., paternal social class). This supports our thesis that the limited but increasing immersion in mass consumer society of successive cohorts who were born and grew up earlier in the 20th century continues to be reflected in levels of "consumerism" in retirement.