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Retirement Planning > Retirement Investing

More boomer retirement options

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The International Herald Tribune reports on a study released Wednesday by Hewitt Associates that found 61 percent of U.S. companies have or will develop programs that let workers retire in stages. According to the paper, the programs are intended to hold onto the experience of members of the post-World War II baby boom generation, and ease the difficulty of replacing their skills. The study included 140 mid-size and large-size companies.

“With the rising tide of boomer retirees, employers will be losing key talent at a time when attracting and retaining skilled workers will be more important than ever,” Allen Steinberg, a principal at Hewitt Associates, told the Tribune.

Retaining worker experience and skills was cited as the most important reason for offering such programs by 72 percent of companies. Companies also said offering phased-retirement eases the difficulty of replacing talent, and helps with the transfer of key skills from experienced to inexperienced workers.

Still, although about half of the companies said that such programs are in place, only 5 percent said the programs were formalized.

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