Workplace Norms for the Timing of Retirement

This paper explores and supports the view of individual retirement behavior being a course of action that is embedded in the structure of work. Results show that three-quarters of American workers aged 51-61 recognize that there is a 'usual age' for retirement among their co-workers. Men seem somewhat more inclined to recognize this trend than women. These usual ages vary depending on occupation type and workplace circumstatnces, and they correspond to the age-scheduled incentives of workers' pension plans. Usual age appears to be an upper limit on the range of workers' personal plans to exit the job. This timing norm is taught in the workplace and then reinforced by individuals when they formulate their retirement plans around it.