Working longer : the solution to the retirement income challenge /

Munnell and Sass (both, Center for Retirement Research, Boston College) address a critical public/private workplace issue of interest to employers, workers, and policy makers alike. They propose solutions to deal with the decline in the two main components of the US retirement system (Social Security and employer provided-pensions and health insurance) and to provide for the rising income needed to ensure a comfortable retirement. The authors posit a simple solution: workers postpone retirement for two to four years. After introducing in chapter 1 the premise that employees need to work longer to ensure financially viable retirement years, chapter 2 explores whether future generations of workers will be healthy enough to work beyond the current average retirement age of 63. Chapters 3, 4, and 5 explore whether older individuals are willing to work later in life, even if they are healthy enough to do so, and whether employers will hire these older workers. Remaining chapters consider related issues e.g., what companies and the government can do to extend employee work lives, the challenges inherent in extending the work of low-wage employees. A well-researched, thoughtful explanation of a critical national issue and a well-reasoned proposal to cope with this challenge. Summing Up: Highly recommended. General readers; graduate students through professional audiences. T. Gutteridge University of Toledo