Type of Content: News
Resource Title: Flexible Work and Phased Retirement: Practical Issues for Employers
Publication Title: Society of Actuaries --Work and the Retirement Journey
Publish Date: 2021
This article will focus on practical issues and implications for employers as they consider the aging workforce and their business realities. Employers need to adapt to the evolving conditions. With COVID- 19, more people have worked from home temporarily and there is a lot of uncertainty about how jobs will change in the months and years ahead. The age 55 and over workforce is growing much more rapidly than the workforce at younger ages. Many people need or want to work longer and retire later, or work as part of their retirement. Some businesses have varying needs for workers depending on the season or business conditions. This article will include information from a 2017 GAO study which provides information about what employers are doing. Many businesses use some form of flexible work, but so far, business has been slow to implement formal phased retirement solutions, and individuals have largely built their own retirement journeys. This article assumes current legal requirements in the United States.
Resource URL: https://bit.ly/3v21oF5