Disrupting the Way We Think About Older Workers

AARP has always believed in the value of older workers, that they can be a genuine asset in the workplace. Now we have new evidence to back that up. In the wake of the Great Recession, we took a fresh look at data about hiring and retaining workers who are 50 and older. The AARP study, “A Business Case for Workers Age 50+,” which came out just last month, not only confirmed earlier research but also indicated that today the …

Trends Favor Hiring Older Workers

Workers 50 and older face a hurdle that younger peers don’t: how to overcome negative stereotypes that paint them as much more expensive, out of touch with technology and less productive. An AARP report released Monday dispels these myths. The report, “A Business Case for Workers Age 50+: A Look at the Value of Experience 2015,” was conducted by Aon Hewitt and based primarily on data from large employers. A similar report, which confirmed the value of older employees, was done …

Workers More Upbeat About Retirement Prospects

More than one-third of workers say they won’t retire until after age 65, about three times the number saying so in the early 1990s. Another 10 percent say they won’t ever quit working. That’s according to an annual survey released Tuesday by the Employee Benefit Research Institute. Back in 1991, when EBRI first conducted the survey, this idea of never retiring didn’t even come up, says Craig Copeland, a senior researcher at EBRI and coauthor of the study. That is one of …

Illinois Is First State With New Savings Plan for Workers

Illinois will become the first state with a broad-based effort to automatically enroll private-sector employees without retirement plans into a new savings program. Gov. Pat Quinn signed legislation on Sunday that creates the Illinois Secure Choice Savings Program. Employers with at least 25 workers and no retirement plan will be required to offer employees the option of enrolling in Secure Choice, which allows employees to invest in a Roth IRA through payroll deduction. Employees can decline. “This turnkey program will make it …

Small-Business Owners Agree: Secure Choice Is Right for Illinois

BREAKING UPDATE 12/2/14: The Illinois House of Representatives passed the Illinois Secure Choice Savings Program.   I want to bring your attention to something happening right now in Illinois that could give small businesses a competitive edge and help millions of Illinois workers have a secure financial future — but time is running out. Only three days remain for the state House of Representatives to pass the Illinois Secure Choice Savings Program and give over 2 million Illinoisans a pathway to …

Creating Effective State-Sponsored Retirement Plans

By Gary Koenig, Vice President, Financial Security, and David John, Senior Policy Adviser, Financial Security State-sponsored retirement savings plans can help private-sector workers not covered by employer plans build financial security. How many workers? More than you might think. In 2013, about 55 million private-sector employees did not have access to a retirement plan at work, including more than 7 million in California, 2 million in Illinois, and about 1 million each in Indiana and Maryland. Research shows that middle …