FACT OF THE WEEK
6 in 10 retirees cite employer incentives as key to their decision to retire
"Almost two in three (64%) retirees aged 65+ reported that personal circumstances - ranging from health issues to a desire for more leisure time - were quite or extremely important to their retirement decision," according to a 2016 survey by Willis Towers Watson. "More than half (56%) of retirees cited employer retirement plans and other employer incentives as key factors in their decision to retire," while 23% gave reasons related to their working environment, such as "feeling disengaged from their employer, their job or both," and 14% mentioned "capability to do the job due to health or other reasons." (Fig. 1)
*With an average household income of $81,907, these respondents had higher incomes than the typical U.S. retiree (the national averages are $53,500 for those over 65 and $63,900 for those between 65 and 74) Moreover, these retirees enjoyed employer-based retiree medical insurance, which most U.S. retirees do not.
||Garabato, N. (2016). Why workers retire when they do: A survey of U.S. retirees. US: Willis Towers Watson. Retrieved from this source.
16 January 2017
About 1 in 5 service workers participate in defined contribution retirement plans
09 January 2017
75% of men and 66% of women aged 55-61 were in the labor force in 2015
02 January 2017
Almost 7 in 10 baby boomers plan to work past age 65
26 December 2016
Median earnings for women ages 55-64 were 74% of men's in 2015