A majority of Baby Boomers say they want to work in retirement, but U.S. companies are only just beginning to try to figure out how to accommodate that, according to a new study.
A survey conducted for financial services firm Merrill Lynch & Co. found that 71 percent of adults hope to work in retirement, with many looking for part-time jobs or an opportunity to move in and out of the work force---perhaps, during a period as a long as 10 years.
Earning money is just one of the reasons, and it ranks third, the study found. The two leading reasons are to remain mentally and physically active, and many want to try new professions.
Most employers, meanwhile, aren't ready for the shift that could affect thousands of their workers, given that the oldest of the 77 million-strong baby boom generation turn 60 this year.
Asked how prepared their companies were for boomers reaching retirement age, just 24 percent said their companies were "on track" to deal with the retirements. Some 27 percent said they were "in the midst of preparing," 17 percent said they were just getting started, and 31 percent said their companies hadn't given it much thought.
Source: Houston Chronicle, May 18, 2006
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