Post on 20-Feb-2016
description
Working LongerRecent studies on
retirement show:
24% of all workers planned to increase their retirement age in 2010
24% of workers intend on waiting until at least age 70 to retire while 9% predict they will never retire, due to lack of financial security
70% of workers intend on working for pay while retired (mostly for financial reasons)
Source: Ruth Helman, Mathew Greenwald and Associates, and Craig Copeland and Jack VanDerhei. Employee Benefit Research Institute (EBRI). The 2010 Retirement Confidence Survey: Confidence Stabilizing, But Preparations Continue to Erode. March 2010
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Aging Worker Initiative SitesOrganization StateTecumseh Area Partnership, Inc. IndianaQuad Area Community Action Agency, Inc. LouisianaCoastal Counties Workforce, Inc. MaineBaltimore County Office of Workforce Development
Maryland
Macomb/St. Clair Workforce Development Board, Inc.
Michigan
South Central Workforce Investment Board PennsylvaniaGoodwill Industries of Houston, Inc. TexasVermont Associates for Training & Development, Inc.
Vermont
Seattle-King County Workforce Development Council
Washington
Fox Valley Workforce Development Board Wisconsin
Transition workshops with attention to social/ emotional component
Computer training Short-term training for
high-demand industries
Career navigation Internships Peer support
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Learning Supports that Made a Difference for AWI Participants
KEVIN PITZER Age 57, from Galveston, Indiana Was forced to retire from the
United States Air Force in 2009 at the age of 55
Was not ready for retirement mentally, physically or financially
Felt lost after the loss of his job with too much free time
Began attending Career Transition Hub networking meetings
With the help of his Veterans Administrative benefits he and his wife have both enrolled in college at Ivy Tech Community College
He is enjoying his classes for his computer information technology major
“They say you’re busier when you retire than you
were when you’re working, and it’s true.”
ALTA REYNOLDS
60 years old from Baltimore, Maryland
Held a series of jobs from veterinary assistant to store owner
Store closed during the recession
Divorced and could not find a job
Back in school with the help of the AWI grant studying to be a surgical technician
“The last thing in the world you
think you're going to do at 60 is go back to school
and rebuild your life!"
Need information, opportunity, and support
Willing to invest in their own education and training
Want to have their existing skills and competencies count towards postsecondary degree
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Mature Learners Are No Different?
Matched savings for employee learning and development
San Francisco pilot with 4 employers, targeting 55+ 24% were 55 or older 89% of participants who were 55
years or older were also lower-income and/or minority group members.
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Lifelong Learning Accounts (LiLAs)
On average, participants 55 years or older saved $860 of their own funds
Participants made progress toward their goals.
Age may be a factor in goal achievement.
Participants believed that LiLAs played an important role in meeting goals.
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What Happened
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Prior Learning Assessment
All stu-dents
(n=4,905)
25-34 (n=1,921)
35-44 (n=1,730)
45-54 (n=1,001)
55-64 (n=158)
65 plus (n=15)
0
5
10
15
20
25
30
17.615.1
18.520.9
23.225.7
Aver
age
PLA
Cred
its E
arne
d
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PLA and Graduation Rate by Age Group
Age 25-34, Non-PLA Students
Age 25-34, PLA Stu-
dents
Age 35-44, Non-PLA Students
Age 35-44, PLA Stu-
dents
Age 45-54, Non-PLA Students
Age 45-54, PLA Stu-
dents
Age 55-64, Non-PLA Students
Age 55-64, PLA Stu-
dents
65 or older, Non-PLA Students
65 or older, PLA Stu-
dents
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
7%14%
6% 13% 6% 9% 3% 7% 5% 12%15%
38%
17%
45%
16%
52%
11%
54%
11%
50%
Associate's Degree Bachelor's Degree Other No Degree
Not Too Late for School: Winning Strategies to Help the Mature Learner. http://www.cael.org/pdfs/Mature-learners---AP
New Approaches for Supporting the Mature Worker: The Experiences of the U.S. Department of labor’s Aging Worker Initiative Grantees. http://www.cael.org/pdfs/TMT_New_Approaches_AWI_Grantees
The Learning That Maturity Bring: An Analysis of the Value of Prior Learning Assessment for Mature Learners, February 2012http://www.cael.org/pdfs/PLA_Mature_Learner
For additional TMT publications, please visit http://www.cael.org/How-We-Help/Older-Workers
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CAEL Publications