Stability and Change in Plans for Retirement

Health and Retirement Study panel data make it possible to investigate workers' prior decision making for retirement far in advance of the event. Using a multinomial construct that profiles general types of retirement plans, we found relative persistence of workers' intentions to retire completely, but relative instability of intentions to pursue more complex paths to retirement (e.g., partial retirement, successive jobs). Considering also the continued prevalence of large proportions with vague plans for retirement, these results show a cohort with a common expectation of retirement but quite unsettled as to how and when it will come about.