Newport (2015b) found drops in labor force participation at ages 62 and 65, reflecting the ages when ________ encourage older workers to retire.

Question

Quizplus · Accepted Answer

Social Security and private pensions both have provisions that encourage older workers to retire at ages 62 and 65, respectively. These provisions include eligibility requirements for receiving benefits, such as reduced benefits for early retirement or increased benefits for continued work past certain ages. Employers may also have policies that encourage retirement at these ages, but they are not as uniform across industries and may not be as influential as the financial incentives provided by Social Security and private pensions.

Newport (2015b) Found Drops in Labor Force Participation at Ages