Baby Boomers, Older Workers and Senators Not Retiring

According to the Bureau of Labor Statistics, by the year 2014, an estimated 78 million Baby Boomers will retire from the workforce with only 600 000 workers entering to replace them. Where are these retiring Baby Boomers going?

Not home, that's for sure.

Baby Boomers are retooling, going back to school and looking for new skills to begin new careers. Retirement is becoming more of a temporary segue into a new life, now increasingly known as the encore career.

A recent blog post written at PennFoster.edu states, "It looks like retirement is becoming a thing of the past for the middle class. No more "winter condos" in Florida or retirement homes in Arizona."

Cynthia Metzler, president and CEO of Experience Works, a national nonprofit organization cites the following in support of in the labor pool:

1. The Society of HR Managers shares that 77% have a higher level of commitment to the organization than younger workers.
2. Buck Consultants survey shares that 88% of employers said that mature workers' knowledge provided a significant business advantage.
3. A study by NCOA and McDonalds, says that 97% of employers surveyed said older workers were thorough and reliable.

If anyone wanted additional proof that people are working longer and well into their senior years, look no further than the United States Congress where the average age is now 61.8 years.

Lauren Victoria Burke, in an AP article, shared that the constitutional framers, in the late 18th century, set the minimum age requirement for the US Senate at 30 and for the House at 25 years. At the time, that was considered late middle age at a time when the average life expectancy was around 40 years."

Fast forward to today and you will find active members of congress who are well into their senior years.

Since the first session of the United States Congress in 1789, the average age of members of the Senate has risen from 47 to an all-time high today of 61.8 according to Senate records.