Law Commons^™

A Timeline Of The Evolution Of Retirement In The United States, Workplace Flexibility 2010, Georgetown University Law Center

Memos and Fact Sheets

This document provides key highlights in the history of retirement in the United States. It provides some background on how the concept of retirement, and its legal treatment, has evolved. This time-line does not include every law related to pension and retirement plans. Rather, it emphasizes those laws that have come to shape how we view retirement, particularly the tax laws that encouraged employers to establish pension and retirement plans in the first place.

Phased Retirement Data Sheet, Workplace Flexibility 2010, Georgetown University Law Center

Memos and Fact Sheets

This data sheet includes information on current coverage and participation by American workers in pension and retirement plans. It also includes information on what employees say they want in terms of flexible work arrangements and access to pension and retirement funds, as well as what employers say they need with regard to the workforce of the future.

Benefits, Rights And Features Nondiscrimination Testing And Phased Retirement Programs, Workplace Flexibility 2010, Georgetown University Law Center

Memos and Fact Sheets

Various studies indicate that formal phased retirement programs within defined benefit plans are wanted and needed by both employers and employees. Phased retirement programs may be useful for employees who want to reduce their hours during later stages of their careers, but who wish to remain in the workforce. For employers, a phased retirement program may be a useful tool to retain talented employees who may otherwise fully retire.

In designing phased retirement programs, It is not surprising that many employers wish to have significant discretion in deciding which employees they will seek to retain through a phased retirement program. …

Early Retirement Incentive Plans And The Age Discrimination In Employment Act, Workplace Flexibility 2010, Georgetown University Law Center

Memos and Fact Sheets

Early retirement incentive plans (ERIP) “seek to give incentives to older employees to retire before conventional retirement age. The purpose of these programs is to cut back on salaries and benefits to make way for younger workers.” While some ERIPs might constitute a prohibited act under the Age Discrimination in Employment Act (ADEA), the statute provides an affirmative defense for employers who can prove that the plan is voluntary and “consistent with the purposes” of the Act.

Some commentators have suggested that one way to encourage employers to establish bona fide phased retirement programs within their qualified pension plans is …

Phased Retirement Benefits And Final Full Retirement Calculations: Open Issues, Workplace Flexibility 2010, Georgetown University Law Center

Memos and Fact Sheets

This document briefly describes two issues relating to the final, full retirement benefit for individuals who receive a phased retirement distribution from a defined benefit plan: 1) whether and how any phased retirement distribution would offset the final full retirement benefit, and 2) the form of the payment of the final, full retirement benefit.

Legal And Research Summary Sheet: Phased Retirement, Chantel Sheaks J.D., Marcie Pitt-Catsouphes Phd, Michael A. Smyer Phd

Memos and Fact Sheets

During the first decade of the 21st century, significant attention has been paid to the widely anticipated retirement of the Baby Boom generation from the U.S. workforce. Employers and policymakers have considered important questions such as:

• What percentage of older workers are likely to retire on a full-time basis between the ages of 62-65?

• What might the implications of a “mass exodus” of Baby Boomers mean for different types of businesses?

• Which types of policies and practices might encourage some older workers to extend their labor force participation, thereby enabling employers to retain the knowledge and skills of these experienced …