Deferring Retirement - DC Panel Addresses Workforce Transformation

Yesterday on Capitol Hill, Senator Herb Kohl welcomed a group of experts to discuss the rapidly changing nature of midlife careers, and to explain legislation he has introduced to support the ongoing changes. The panel was hosted by AARP's Director of Workforce Issues, Deborah Russell. Here are some highlights:

Marc Freedman talked about his new book, "Encore: Finding Work That Matters in the Second Half of Life." He predicted historic changes in the American workplace, where the time between the end of what he called "midlife careers," and the beginning of what used to be called "old age" is stretching into decades. What pathways will be created to find and train workers in that stage of life and help them find work that is meaningful to them?

Freedman talks about the book, and the issues, with Prime Time Radio host Mike Cuthbert in this extended conversation from the August 14th edition of Prime Time Radio. Listen with Real Audio.

Phyllis Segal, who's on the faculty of Harvard Law School, is a Senior Vice President of Civic Ventures, which spotlights innovative recruitment and hiring strategies targeting workers over 50. As she said, "old notions of retirement are in the rear view mirror." Because they have to, or want to, or because industry needs them, people will continue to work as they get older. She said older workers are looking for "both meaning and compensation." And this often leads them to non-profit organizations, or public agencies.

Jeri Sedlar is a senior advisor to The Conference Board. She's also the author of "Don't Retire - REWIRE!" She believes that workers over 50 want to move "from success to significance." And from "profits to passions." These desires, she says, are moving older workers into the nonprofit sector.

There was general agreement among the panelists that "debris" left over from outmoded ideas about retirement is one of the main obstacles to creating fresh opportunities. These stumbling blocks include mandatory retirement ages and the abrupt ending of work-related benefits at the time when workers "retire." Kohl's legislation would give employers a tax credit for establishing flexible work schedules that enable older employees to stay on the job without losing healthcare or pension benefits.

More on this subject in the New York Times of Sunday, July 22.