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Work to remain a part of life in retirement, older employees say

Posted On Fri, March 1, 2013

Retirement doesn't mean the end of work as they know it for a majority of Americans, according to findings from a recent study.

In its latest survey conducted by Harris Interactive, job search website and resource CareerBuilder says that most Americans have every intention of working another job once they retire from their current position.

Of the nearly 700 workers age 60 and over who were questioned, six in every 10 said they would like to find alternative employment once they give their retirement notice to their present employer. A year ago at this time, approximately 57 percent said they intended to work in a different capacity after retiring.

The survey also questioned respondents about how long it would before they could afford to retire. At 27 percent, most said it would be between one and two years, with a mere 4 percent indicating it would be at least 10 years before they had the financial capacity to call it quits.

Brent Rasmussen, president of CareerBuilder, indicated that more people are putting off retirement than ever before. And companies appear to be more than happy to oblige.

"The majority of workers who have talked with their bosses about staying on past retirement found their companies to be open to retaining them," said Rasmussen. " If you're approaching retirement age but hope to continue working, an open line of communication is very important."

Due to financial cutbacks, some employers have stopped offering retirement benefit packages, such as 401(k) plans, or have reduced the amount they match in 401(k) payment contributions. As an alternative, workers may want to review life insurance rates, as these offerings can be used to help supplement retirement expenses.

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