Gender and race differences in effects of health and pension on retirement before 65

Prior work on early retirement has given inadequate attention to differences by gender and race in the influences of health and pension on the decision to leave the labor force before 65. A study of previously or currently employed black and white men and women aged 60 to 64 reveals that white males were most likely to be retired and black women the least. Bivariate analysis showed that activity limitations and the presence of chronic health conditions were related to early retirement for men, but not for women. Analysis of women by race showed that while white women who assessed their health as poor were likely to be retired, black women in poor health were apt to be still working. Pension coverage was unrelated to early retirement for both genders. Logistic regression was used to analyze the simultaneous effects of health, pension and race on men's and women's decisions to leave the labor force early, with other variables controlled. The results led to the conclusion that different motivations toward early retirement apply to women and men, and blacks as compared to whites.