Trends in retirement age in the United States, 1955-1993, by sex and race

Abstract

To meet the need for a labor-force-based time series on the average age at retirement differentiated by sex and race, net labor force withdrawal rates (NWR) are calculated on a cohort basis for periods of time. The NWR are used to calculate the median age of exit from the labor force. From the late 1950s through the late 1980s, declines of about 34 years occurred among Black and White women and men. These results are very similar to those obtained from Social Security data. The decline slowed during the 1970s and leveled off during the 1980s and early 1990s. The findings are a valuable addition to the meager knowledge available now about the retirement behavior of women and Blacks. The labor force and the Social Security time series of the average age of retirement are useful, especially in combination, to private and public planners and policymakers.