A new poll from the National Journal indicates current economic conditions and other factors have changed the retirement expectations of baby boomers, such that many anticipate working until a later age before retiring.
Near-retirees include those over the age of 50 and still in the workforce, according to researchers. This population expects to retire at an average age of 66, compared to a an average age of 60 marking when current retirees withdrew from the workforce.
These perceptions among near-retirees may fuel increased interest and participation in employee benefit options that target their needs. Compared to 16 percent of current retirees who report 401(k) plans are a major income source, almost 40 percent of near-retirees expect such plans to figure prominently in their retirement.
Similarly, the percentage of respondents who consider IRAs to be important sources of retirement income ranges from 18 percent of current retirees to 27 percent of those nearing retirement.
While 67 percent of near-retirees remain confident they can provide a secure retirement for themselves, this is lower than the 80 percent of current retirees who consider their financial situations stable.
More than one-third of those approaching retirement indicated they will work part-time to secure a significant portion of their regular retirement income, up from about 8 percent of current retirees.
