About IPERS, July 2008

It’s never too early to start thinking about retirement. Regardless of your retirement plans or anticipated retirement age, you want a financially secure retirement. IPERS provides the security you need through guaranteed benefits. With IPERS, unlike other retirement plans, benefits aren’t tied to the performance of the stock market and you don’t need to be an experienced investor to make your retirement dreams a reality. Remember, your IPERS benefits are only one part of your overall retirement savings. Your total retirement income will come from a combination of your IPERS benefits, social security, personal savings, and any other retirement plan benefits

Aging, Retirement and Human Resources Management: A Strategic Approach

This chapter introduces the organizational view of retirement by exploring the relationship between organizational strategy and human resource management decisions regarding retirement. The authors begin with an overview of organizational strategy and discuss two methods used to plan for an aging and retiring workforce. Several key human resource decisions related to retirement are then addressed. In the pre-retirement phase, the role of HR In helping employees to prepare for retirement Is discussed, focusing primarily on financial planning and other retirement-related benefits. Next, human resource decisions pertaining to managing a retirement-ready workforce are discussed, addressing specifically the issues of knowledge transfer and motivating performance. Finally, interactions with individuals after retirement are discussed by looking at recruitment and bridge employment

The impact of midlife educational, work, health and family experiences on men's early retirement

Objectives. In empirical studies on predictors of retirement, midlife experiences have often remained implicit or been neglected. This study aims to improve our understanding of retirement by examining the impact of midlife educational, work, health, and family experiences on early retirement intentions and behavior. We distinguish theoretically and empirically between financial and nonfinancial preretirement factors through which midlife experiences could affect retirement. Methods. Using panel data of 1,229 Dutch male older workers, we estimated linear regression models to explain retirement intentions and logistic regression models to explain retirement behavior. Results. Midlife experiences in all studied life spheres are related to retirement intentions. Educational investments, job changes, late transitions into parenthood, and late divorces are associated with weaker intentions to retire early. Midlife health problems are related to stronger early retirement intentions. For midlife work and family experiences, the relationships are (partly) mediated by the preretirement financial opportunity structure. In the educational, work, and health spheres, the preretirement nonfinancial situation has a mediating effect. Only some of the predictors of retirement intentions also predicted retirement behavior. Discussion. Given the destandardization of life courses, information on distal life experiences might become even more important toward understanding retirement in the future. keywords: children; divorce; education; life course; retirement; work history

Universal Voluntary Retirement Accounts: Secure retirements, competitive businesses and economic growth for America

Half of all workers lack access to a retirement plan at their workplace. And small businesses face high administrative and cost hurdles that often prevent them from offering retirement plans to employees. Universal Voluntary Retirement Accounts (UVRAs) are a straightforward alternative to the retirement savings dilemma facing today's workers and small businesses. UVRAs allow any individual worker to open a low-cost Individual Retirement Account (IRA), and make it easier for small businesses to recruit and retain employees by offering them a way to save for retirement

Phased Retirement Benefits and Final Full Retirement Calculations: Open Issues

This document briefly describes two issues relating to the final, full retirement benefit for individuals who receive a phased retirement distribution from a defined benefit plan: 1) whether and how any phased retirement distribution would offset the final full retirement benefit, and 2) the form of the payment of the final, full retirement benefit

A Timeline of the Evolution of Retirement in the United States

This document provides key highlights in the history of retirement in the United States. It provides some background on how the concept of retirement, and its legal treatment, has evolved. This time-line does not include every law related to pension and retirement plans. Rather, it emphasizes those laws that have come to shape how we view retirement, particularly the tax laws that encouraged employers to establish pension and retirement plans in the first place

How to Have a Successful Retirement

What is retirement? Retirement is the years that an individual is able to enjoy after spending a majority of their life devoted to their career. A successful retirement is not a birthright; it is something that an individual must earn through hard work and proper planning. This paper identifies ten important commandments that are both necessary and helpful in achieving a successful retirement

Reform of police pensions in England and Wales

We analyse pension reforms for police officers in England and Wales using force-level data. We quantify the impact on overall police pension plan liabilities, examining incidence across police officers, national and local taxpayers. We also examine reforms of retirement rules, especially concerning early retirement on grounds of ill-health. Differences in ill-health retirement across forces are statistically related to area-specific stresses of policing and force-specific human resources policies. Reforms in 2006 impacted primarily on the level of ill-health retirement among forces with above-average rates of early retirement. We find residual differences in post-2006 ill-health retirement rates across forces are related to differential capacities to raise revenue from local property taxes

Second Wind: Workers, Retirement, and Social Security

In this report, Second Wind: Workers, Retirement, and Social Security, we hear from American workers about how they view retirement in our new economy, what they hope for -- and what they fear. Workers describe a vision that is not the work-free retirement for which their parents long. Rather, it is a work-filled retirement focused on fulfilling personal goals and contributing to the economy and to society. The survey finds that workers expect little support or help from government or employers in surmounting the barriers they face to their vision of a successful retirement. Workers express tepid support for corporate pension and retirement plans, and little confidence in Social Security and Medicare. In evaluating the Presidential candidates and their positions on Social Security and retirement, workers are remarkably unimpressed. Still, while Americans are willing to go it alone into old age, they hold out hope for change, for government and employers to step up their efforts to address the needs and desires of an aging workforce

The domestic and gendered context for retirement

Against a global backdrop of population and workforce ageing, successive UK governments have encouraged people to work longer and delay retirement. Debates focus mainly on factors affecting individuals’ decisions on when and how to retire. We argue that a fuller understanding of retirement can be achieved by recognizing the ways in which individuals’ expectations and behaviours reflect a complicated, dynamic set of interactions between domestic environments and gender roles, often established over a long time period, and more temporally proximate factors. Using a qualitative data set, we explore how the timing, nature and meaning of retirement and retirement planning are played out in specific domestic contexts. We conclude that future research and policies surrounding retirement need to: focus on the household, not the individual; consider retirement as an often messy and disrupted process and not a discrete event; and understand that retirement may mean very different things for women and for men