%0 Report %D 2013 %T Are Gender Differences Emerging in the Retirement Patterns of the Early Boomers? %A Kevin E. Cahill %A Michael D. Giandrea %A Joseph F. Quinn %K Demographics %K Employment and Labor Force %K Healthcare %K Net Worth and Assets %K Retirement Planning and Satisfaction %K Women and Minorities %X Controlling for career employment later in life, the retirement patterns of men and women in America have resembled one another for much of the past two decades. Is this relationship coming to an end? Recent research suggests that the retirement patterns of the Early Boomers those born between 1948 and 1953 have diverged from those of earlier cohorts. Gender differences appear to be emerging as well in the way that career men and women exit the labor force, after nearly two decades of similarities. This paper explores these gender differences in detail to help determine whether we are witnessing a break in trend or merely a short-term occurrence. We use data on three cohorts of older Americans from the nationally-representative, longitudinal Health and Retirement Study (HRS) that began in 1992. We explore by gender the types of job transitions that occur later in life and explore, in particular, the role of four potentially relevant determinants: the presence of dependent children; a parent in need of caregiving assistance; occupational status on the career job; and self-employment status. We find that, among career men and women, child and parental caregiving are not significant drivers of the retirement transitions of the Early Boomers, all else equal. Gender differences that may exist with respect to these characteristics are therefore unlikely to lead to persistent gender differences in retirement patterns. In contrast, self employment continues to be a statistically significant determinant of bridge job transitions and phased retirement. This finding, combined with the fact that men are much more likely than women to be self employed later in life, could lead to some differences by gender going forward, though the impact is likely to be limited given that the large majority of older workers are in wage-and-salary employment. Older Americans both men and women are responding to their economic environment by working later in life and exiting the labor force gradually. While some determinants of these decisions likely impact men and women differently, gender differences with respect to the retirement patterns of the Early Boomers appear to be the result of broader macroeconomic forces. The evidence to date suggests that gender differences may dissipate as the recovery ensues. %I Washington, DC, Bureau of Labor Statistics %G eng %U http://www.bls.gov/osmr/pdf/ec130090.pdf %4 Economics of Aging/Partial Retirement/Gradual Retirement/retirement planning/early boomers/labor Force Participation/gender differences/caregiver Status/WOMEN/working spouses %$ 69300 %0 Report %D 2013 %T New Evidence on Self-Employment Transitions Among Older Americans with Career Jobs %A Kevin E. Cahill %A Glandrea, Michael D. %A Joseph F. Quinn %K Employment and Labor Force %K Net Worth and Assets %K Public Policy %K Retirement Planning and Satisfaction %X How have post-career transitions into and out of self-employment been impacted by the Great Recession? Research from the 1990s and 2000s has shown that the prevalence of self employment increases substantially later in life, partly because self employment provides older workers with opportunities and flexibility not found in wage-and-salary jobs. Post-career transitions into and out of self employment have also been identified as an important pathway to retirement among older Americans. This paper examines post-career self-employment transitions during the recent recession that began in late 2007 and during the ensuing lackluster recovery. We utilize the Health and Retirement Study (HRS), a nationally-representative longitudinal dataset of older Americans, to investigate the role of self-employment in the retirement transitions of HRS Core respondents over nearly two decades, from 1992 to 2010, with particular emphasis on the most recent years. We find that post-career transitions into and out of self employment remain common in the face of the Great Recession, and that health status, occupation, and financial variables continue to be important determinants of switches from wage-and-salary career employment to self-employed bridge jobs. The latest evidence confirms that self employment continues to be an important pathway to retirement even during recessionary times. %I Washington, DC, U.S. Bureau of Labor Statistics %G eng %4 Economics of Aging/Partial Retirement/Self Employment/labor Force Participation/retirement planning/great Recession/Bridge Jobs %$ 69292 %0 Report %D 2010 %T Employment Patterns and Determinants Among Older Individuals with a History of Short-Duration Jobs %A Kevin E. Cahill %A Michael D. Giandrea %A Joseph F. Quinn %K Consumption and Savings %K Employment and Labor Force %K Net Worth and Assets %K Pensions %K Public Policy %K Retirement Planning and Satisfaction %K Social Security %K Women and Minorities %X Many studies of labor force withdrawal patterns have focused on individuals who have had career jobs. This paper compares the demographic and economic characteristics of individuals who have never had a full-time career (FTC) job with those who have, and compares the timing and types of job switches that both groups make later in life. The comparison between non-FTC and FTC individuals is important because decisions by policymakers based on the existing retirement literature may have unintended consequences for individuals with only a series of short-duration jobs. We use a sample of respondents from the Health and Retirement Study (HRS) who have worked since age 50, and stratify respondents according to whether an individual has ever had a job that consists of 1,600 or more hours per year and lasts for at least ten years (i.e., a full-time career job). We find that individuals without FTC jobs are a heterogeneous group, representing individuals in many wage and occupational categories. Not surprisingly, we also find that individuals without FTC jobs are less likely than those with FTC jobs to be working in subsequent survey years. However, we find that the labor force withdrawal patterns of non-FTC individuals are similar to those of FTC individuals in many respects. In particular, individuals without FTC jobs change jobs later in life just as frequently as those with FTC jobs. Switching rates between wage-and-salary employment to self-employment and between white-collar and blue-collar jobs are largely similar by FTC status, as are reductions in wages later in life. Overall, the findings reveal that the work decisions later in life of individuals who have never had career employment are diverse, just as they are for individuals with career jobs. %B U.S. Bureau of Labor Statistics, Working Papers %I U.S. Bureau of Labor Statistics %C Washington, D.C. %V 440 %G eng %U https://www.bls.gov/osmr/research-papers/2010/ec100080.htm %N 33 %4 Retirement, Retirement Policies/Economics of the Elderly/Economics of the Handicapped/Non-labor Market Discrimination/Nonwage Labor Costs and Benefits/Private Pensions/Social Security/Public Pensions/Economics of Aging/Bridge Jobs/Gradual Retirement %$ 23940 %0 Report %D 2010 %T The Role of Re-entry in the Retirement Process %A Michael D. Giandrea %A Kevin E. Cahill %A Joseph F. Quinn %K Consumption and Savings %K Employment and Labor Force %K Net Worth and Assets %K Pensions %K Retirement Planning and Satisfaction %K Social Security %K Women and Minorities %X To what extent do older Americans re-enter the labor force after an initial exit and what drives these unretirement decisions? Retirement for most older Americans with full-time career jobs is not a one-time, permanent event. Labor force exit is more likely to be a process. Prior studies have found that between one half and two thirds of career workers take at least one other job before exiting from the labor force completely. The transitional nature of retirement may be even more pronounced when considering the impact of re-entry. This paper examines the extent to which older Americans with career jobs re-entered the labor force. The analysis is based on data from the Health and Retirement Study (HRS), an ongoing, longitudinal survey of older Americans that began in 1992. We examined the retirement patterns of a subset of 5,617 HRS respondents who were on a full-time career job at the time of the first interview. Logistic regression was used to explore determinants of re-entry among those who initially exited the labor force. We found that approximately 15 percent of older Americans with career jobs returned to the labor force after initially exiting. Respondents were more likely to re-enter if they were younger, were in better health, or had a defined-contribution pension plan. This research provides empirical evidence of how older Americans are utilizing bridge jobs as they transition from career employment, and that re-entry may be an important part of the work experience of older Americans. %B Working Paper %I U.S. Bureau of Labor Statistics %C Washington, D.C. %G eng %U https://www.bls.gov/osmr/research-papers/2010/pdf/ec100070.pdf %4 Retirement, Retirement Policies/Economics of the Elderly/Economics of the Handicapped/Non-labor Market Discrimination/Private Pensions/Social Security and Public Pensions/Economics of Aging/Partial Retirement/Bridge Jobs/Gradual Retirement %$ 23200 %0 Book Section %B Forecasting Retirement Needs and Retirement Wealth %D 2000 %T New Paths to Retirement %A Joseph F. Quinn %E Olivia S. Mitchell %E Hammond, B. %E Rappaport, A. %K Consumption and Savings %K Employment and Labor Force %K Net Worth and Assets %K Retirement Planning and Satisfaction %B Forecasting Retirement Needs and Retirement Wealth %I Univ. of Pennsylvania Press %C Philadelphia %P 13-32 %G eng %U https://pensionresearchcouncil.wharton.upenn.edu/publications/books/forecasting-retirement-needs-and-retirement-wealth/ %4 Economics of the Elderly/Retirement/Retirement Wealth/Retirement Policies/Labor Force/Employment %$ 8416 %! New Paths to Retirement %0 Journal Article %J The Public Policy and Aging Report %D 1997 %T Retirement Trends and Patterns in the 1990s: The End of an Era? %A Joseph F. Quinn %K Employment and Labor Force %K Net Worth and Assets %K Retirement Planning and Satisfaction %X This article documents the dramatic change in retirement trends of the mid-1980's, mentions some of the contributing factors that may have lead to the change, and discusses some preliminary research on the nature of retirement patterns in the 1990's. Results show that both older men and women are working much more now than the pre-1985 retirement trends would have predicted. HRS data emphasizes that retirement patterns in America are varied and confirms the importance of gradual retirement, especially bridge jobs, to the retirement process of the 1990s. %B The Public Policy and Aging Report %I 8 %V 8 %P 10-14 %G eng %N 3 %L pubs_1996_Quinn_JGer.pdf %4 Economic Status/Labor Force Participation/Retirement Planning/Bridge Jobs %$ 8128 %0 Journal Article %J The Gerontologist %D 1996 %T The Role of Bridge Jobs in the Retirement Transition: Gender, Race and Ethnicity %A Joseph F. Quinn %A Kozy, M. %K Employment and Labor Force %K Health Conditions and Status %K Net Worth and Assets %K Retirement Planning and Satisfaction %K Women and Minorities %X This paper uses the first wave of HRS data to describe the retirement patterns of the 1990s and to investigate whether these patterns differ by race and ethnicity. Results demonstrate that retirement patterns are varied, even within narrowly defined age groups. Many Americans, probably more in the future, are choosing to retire gradually and are turning to bridge jobs as a transitional stage between a career job and complete labor force withdrawal. There are in fact differences in how people leave the labor force by race and ethnicity, although they do not fall into an obvious pattern. This wave of data shows that Hispanic men are more likely than both white and black men to be on or have last worked on a bridge job. Among women, blacks are least likely to have last worked on a bridge job. Further research on these results is planned for when the future waves of HRS data become available. %B The Gerontologist %I 36 %V 36 %P 363-372 %G eng %N 3 %L pubs_1996_Quinn_JGer.pdf %4 Bridge Jobs/Labor Force Participation/Retirement Planning/Health Status/Economic Status/Blacks/Hispanics/Women %$ 8042 %R 10.1093/geront/36.3.363