Availability of retired persons for work: findings from the retirement history study

The increase in the proportion of retirees in the population has given rise to concern that the financial burden on workers could become onerous. Consequently, considerable interest has developed in encouraging workers to delay retirement until age 65 and beyond. The effectiveness of programs to accomplish this objective would be enahnced by knowledge of the reasons for early retirement and the characteristics of those who have retired. On the basis of three waves of longitudinal data from the Retirement History Study, an availability measure has been constructed to provide estimates of how many recent retirees would be likely, given the opportunity, to return to work. Incorporating information on perceived income adequacy and work attitudes, the measure is applied in this article to men and women aged 62 to 67 in 1973 who had retired since 1969. An initial screening to determine those with work limitations removed half the retirees from consideration, and the measure indicates that relatively few of those remaining would have been readily available to return to work.