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 108AGING IN THE 21S T CENTURY 24 Younger workers in good health are the most likely to return to work after retiring. Other research looks at who chooses partic- ular retirement paths. Younger workers in good health are the most likely to return to work after retiring (Cahill et al. 2011). One study specifically looks at transitions to bridge employment over time. Men and women who are younger, in better health, more educated, less stressed at work, and more satisfied by their job are more likely to move to bridge employment in their career jobs than to retire (Wang et al. 2008). Retirement transitions differ for men and women. Forty-three percent of female retirees are reemployed following retirement compared with 50% of retired men in the HRS cohort (Pleau 2010). While women with higher earnings before retirement are more likely to return to work, wealth and earnings are negatively associated with reemployment for men. Marital status affects these findings. Married women with high- er household wealth are less likely to be employed after retirement compared to married women with less wealth. Divorced and separated women have a greater likelihood of postretirement em- ployment than married women. Kail and Warner (2013) show that among those who return to work after retirement, men are more likely than women to return to full-time work whereas wom- en are more likely to return to part-time work. Older workers who would like to work longer may face age discrimination and find it more diffi- cult than younger workers to secure employment. Many states have laws that complement and sometimes go beyond federal law prohibiting age discrimination against older workers. Some states allow compensatory or punitive damages, which federal law does not. Stronger state-level age discrimination laws appear to encourage working longer and transition into partial retirement (Neumark and Song 2013). Keeping options open for older workers can have macroeconomic bene- fits but also personal benefits. Having the option to choose a preferred retirement path can affect our well-being. How people feel about their retirement transition — whether they are happy in retirement — appears to be mostly affected by whether they report choosing their particular transition or whether it is forced upon them (Calvo et al. 2007). Are We Healthy Enough to Work? Health is clearly important in the decision to work longer. Evidence from HRS studies reveals significant levels of good health among those no longer working, suggesting there may be unused capacity to work at older ages. Other studies use the detailed longitudinal information on health and physical functioning in the HRS to characterize changes in the health of middle-aged people as they age and the factors that influence those changes. HRS research on chronic disease investigates the relationship of chronic disease, pain, and the onset of limitations in physical functioning. Many studies address the interplay of health and economic resources. Unused Capacity Several studies use HRS data on physical func- tioning to identify people who might be healthy enough to work at older ages. One report shows that in 2004 about 50% of those aged 51 to 56 report no limitations (Weir 2007). Only 20% of 70- to 74-year-olds report no limitations. Among those not working at various ages, many report either no or some limitations. Of the 50% or so not working between age 62 to 64, 34% report zero to five limitations. Among the 80% of 70- to 74-year-olds no longer working, about 50% report zero to five limitations. The study categorizes remaining life expectancy at each age into work years, years not working while in health that permits work, and years unable to work. Taking into account the average life expectancy in 2002, average 51- to 56-year-olds could expect to live about another 27 years with 9.7 as years working, 9.9 as years of not working but physically able, and 7.7 years not able to work. Stronger state-level age discrimination laws appear to encourage working longer and transition into partial retirement.