FutureWire - futurism and emerging technology

Wednesday, June 15, 2005

Retiring Boomers May "Double Dip"

Much has been written and said about the pending retirement of the Baby Boomers and its impact on the workforce. Few observers believe that the Boomers will leave the workplace en masse the moment they hit 65, yet certain fields already hit hard by labor shortages will be vulnerable even if their workforce numbers decline by even a few percentage points. Teaching, nursing and IT are among the fields expected to be hardest hit.

One retention solution being explored by the state of Florida for its teachers is to allow those nearing retirement age to "retire" and start collecting their pensions, while remaining on the job to collect their regular salaries. On the surface it appears to be a win-win situation; the state retains experienced teachers, while the teachers are motivated by a substantial pay increase while they continue to fund their pensions.

Of course, such a plan would only work for employers with functioning pension systems...

Source: Herman Trend Alert