COMMITTEE ON AGING FORUM: Preparing for the Baby Boomers Retirement: The Role of Employment

July 25, 1997

Under the 1983 Social Security reform legislation, the retirement age with full benefits will rise from 65 to 67 by the year 2027. This reform is commonly presented as a pragmatic response to the increasing financial pressures placed on public expenditures and the increase in heathy life expectancy. This policy change stands in contrast to a dramatic decrease in labor force participation among those over age 65 during the last 30 years.

The 1983 changes to Social Security, coupled with stagnant pension coverage and reduced personal savings, seems to suggest that Baby Boomers will have to remain in the workforce longer than their parents. This forum will discuss a number of questions regarding this situation: What impact will older workers have on the job market? How will the job market respond to older workers? Are Baby Boomers ready to delay retirement from the workforce? Will the situation lead to stress between Baby Boomers and younger generations?

Date: July 25, 1997
Time: 9:30 am
Room: 124 Dirksen

Opening Remarks

Senator Chuck Grassley, Chairman, Iowa

Dallas Salisbury, President and CEO, Employee Benefit Research Institute, moderator

Testimony Panel 1

1. Alan Reynolds, Director of Economic Research, Hudson Institute
2. John Rother, Director of Legislation and Public Policy, AARP (no written statement available)
3. Michael Barth, Ph.D., Vice-President, IFC-Kaiser

Testimony Panel 2

1. Richard Burkhauser, Ph.D., Syracuse University
2. Colin Gillion, Ph.D., Director of Social Security, International Labor Organization
3. Scott Bass, Ph.D., Dean of Graduate School, University of Maryland, Baltimore-County (no written statement available)

Forum Publications

• Committee on Aging Print: 105-07

The Committee supply of 105-7 has been exhausted. For a copy of this print contact the Government Printing Office at 202-512-1800.