Keeping Firms Young
MOST COMPANIES, ESPECIALLY LARGE ONES, still assume that age sixty-five is the normal retirement age for managers and executives. But more and more of them, especially in middle-management ranks and in highly specialized work, take early retirement, some as early as age fifty-two. An even larger and faster-growing group is beginning to exercise the legal right (of all but a small group of executives in “decision-making positions” with very large retirement pensions) to delay retirement until age seventy. And the compulsory retirement of federal employees and of employees in California who ...