Your mom and dad are approaching retirement age, but plan to continuing working for another year or two. They are not alone. There are several reasons that the age at retirement is increasing. Which is not one of these reasons?
A. Changes to Social Security have created many incentives to continue working and have made work more attractive relative to retirement.
B. Combine the decline of employer-provided retiree health insurance with the rapid rise in health care costs, and workers have a strong incentive to keep working and maintain their employer’s health coverage until they qualify for Medicare.
C. Some elders sustained significant losses to their retirement funds, were forced to take pay cuts during the recession, or didn’t save adequately, and now work longer to make up the difference.
D. The shift from a 401(k) plans to a defined benefit eliminated built-in incentives to retire; workers covered defined benefit plans retire a year or two later on average than similarly situated workers with a 401(k).
Answer: D
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What will be an ideal response?
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