Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90 Page 91 Page 92 Page 93 Page 94 Page 95 Page 96 Page 97 Page 98 Page 99 Page 100 Page 101 Page 102 Page 103 Page 104 Page 105 Page 106 Page 107 Page 108WORK & RETIREMEN T 42 of the initial HRS cohort (people ages 51 to 61 in 1992) over 10 years, focusing on “career workers.” To be classified as a career worker, a person must have worked full-time in at least half the years between age 40 and his or her last year of full-time work, and worked full-time in some year at or after turning age 50. The bottom segment of Figure 2-2 (“completely retired”) indicates the direct flow into full retire- ment; this includes moving from full-time work directly into retirement, as well as moving from partial retirement into full retirement. The upper segment includes those who, during the course of the study, moved from full-time work into partial retirement and then into full-time retire- ment. One can see steep rises in retirement at ages 62 and 65 as individuals become eligible for early and full Social Security benefits. Gustman and Steinmeier (2004b) also found differences in retirement ages by gender and racial/ethnic group. Figure 2-3 looks at differ- ences between White career workers versus Black and Hispanic career workers in terms of retirement from full-time work, again using the trend data from the initial HRS cohort (people ages 51 to 61 in 1992). Except at a couple of ages, Black men are more likely than White men to be retired, with the largest difference being 7.6 percentage points at age 57. After age 59, Hispanic men, especially those in their mid-60s, are less likely than Whites to be retired. For women, there are relatively small differences in retirement levels between Blacks and Whites. Hispanic women age 55 and younger are somewhat less likely than White women to be retired from full-time work, while Hispanic women are generally more likely than White women to be retired after age 55. TBL. 2-1 Labor Force Status of not-married and married hrs respondents: 2002 Note: Columns do not add to 100 percent because more than one status is possible. For example, a respondent could be working and a homemaker. Not Married Married Men Women Men Women Working 31.5% 24.8% 43.2% 32.2% Retired 56.9 47.1 53.2 35.1 Disabled 12.0 9.7 7.0 5.2 Unemployed 3.5 1.8 1.8 1.6 Homemaker 0.2 22.4 0.3 32.7 FIG. 2-2 Retirement pattern for career workers in the first hrs cohort: 1992-2002 (People ages 51-61 in 1992) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Moved from full-time work to part-time work into full retirement during the period 1992-2002 Moved directly into full retirement during the period 1992-2002 Age 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Source: Gustman and Steinmeier 2004b.