Few U.S. employers understand that time may be about to snatch their best employees.
Executives at Merrill Lynch & Company Inc., New York, made that argument here at a recent meeting for employers who happen to be Merrill Lynch clients.
The executives presented results of one company-sponsored survey of 1,000 U.S. employers with 100 or more employees and a second survey of 5,111 U.S. adults ages 25 to 70.
The oldest baby boomers are now 60, and they will reach the current normal retirement age in just 5 years.
But results of the Merrill Lynch survey suggest that the boomers could leave the workforce earlier than members of the previous generation did.
The baby boomers surveyed said they plan to give up work entirely at an average age of about 69.8, which is 1.8 years younger than the average projected retirement age that working participants in the 60-70 age group suggested.