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Older Workers

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BUSINESS
August 6, 1991
Some companies, such as American Airlines, are recruiting workers up to age 65 while other companies have offered early retirement incentives to rid their payrolls of employees in their 60s and late 50s.The Evening Sun wants to know whether you think American businesses should view the older worker as an asset or a liability. Should companies recruit employees who are over 55? Or should they encourage them to leave to make room for younger workers?To register your opinion, call SUNDIAL at 783-1800 (or 268-7736 in Anne Arundel County)
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NEWS
By Eileen Ambrose, The Baltimore Sun | August 11, 2013
For the past year, the Office of Personnel Management has been working on regulations that will allow older federal workers to phase into retirement. The idea is that these employees would continue to work part time, collect a partial pension — and pass on their knowledge and experience to the next generation of federal workers . Many older workers are eagerly awaiting the program's launch. "A lot of retirement-eligible workers don't feel ready to retire," said Jessica Klement, legislative director of the National Active and Retired Federal Employees Association.
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NEWS
By Raven L. Hill, The Baltimore Sun | July 3, 2011
Paula Foertsch wasn't ready to be forced into retirement at age 60. An office supervisor, Foertsch started looking for ways to start her second act shortly after she was laid off in January 2009. She'd always been interested in doing medical billing. Her timing couldn't have been better. Baltimore County was launching Maturity Works, a custom health care job training program for people age 55 and up, part of a nationwide effort to prepare older employees for the new workplace and meet regional employment needs.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 31, 2013
At an age when many workers are thinking about winding down their careers, Victoria Baldassano of Silver Spring says she can't afford to give retirement a thought. The part-time English professor at Montgomery College said her income has been too low for too long to save for retirement, and she's carrying about $40,000 in credit card debt racked up to pay living expenses. "It's an awkward situation to be in at 61," said Baldassano, who said she thinks more about day-to-day bills than retirement.
NEWS
April 5, 2005
ABOUT HALF of American workers are over 40 years old, a proportion that is not expected to change anytime soon as even the youngest baby boomers are a long way from retirement. With more workers changing jobs more frequently throughout their careers, the chances that they will encounter some form of age discrimination are high. That's reason enough to hail the U.S. Supreme Court's decision last week making it easier for older workers to bring age-bias lawsuits against offending employers.
BUSINESS
Eileen Ambrose | June 25, 2012
Sure, it's tough out there for jobless workers age 55 and older. More than one third of them are out of work for more than a year, according to Challenger, Gray & Christmas. But an analysis by the executive outplacement firm found that the biggest gains in employment in the past two years have occurred among the older crowd. The number of working Americans grew by 4.3 million from January 2010 to May 2012, and workers 55 and up account form 2.9 of them, or nearly 70 percent.
BUSINESS
By EILEEN AMBROSE | December 22, 2002
WITH the Bush administration throwing support behind "cash balance" pension plans, more companies may convert traditional pensions to this option, which can significantly reduce older workers' projected retirement benefits. This month, the Treasury Department proposed guidelines under which employers could change traditional pensions to cash balance plans without fear of age discrimination charges. The department is accepting public comment and plans a hearing in April. The rules could become final in the summer.
BUSINESS
By Janet Kidd Stewart | October 1, 2006
There was a time when Conchy Bretos thought she would spend her entire career in government. Then Bretos lost a 1993 election for a seat on the Dade County Commission in Florida after a nasty campaign. And when she tried to return to her job as executive director of the county's Commission on the Status of Women, Bretos was fired. While her supporters complained bitterly that it was political retribution, she was not reinstated. She lost her political clout and many of her personal contacts, but Bretos was able to use one of her important contacts to become Florida's assistant secretary for aging and adult services.
NEWS
By New York Times News Service | December 12, 1993
Unemployed after 32 years with Merrill Lynch & Co., 57-year-old James Vincent Rooney has angry words for his former employer, the nation's largest brokerage concern."
BUSINESS
By Meredith Schlow and Meredith Schlow,Evening Sun Staff | October 29, 1990
In 1985, Dick Morrissey lost his job the day after he settled on his new house in Riva. Five years and "hundreds of interviews" later, the 59-year-old former public relations director is still unemployed."
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 2, 2012
Forrest Martin is looking at the same help-wanted listings as all the other Sparrows Point workers, the jobs with wages of $10 an hour, $13, $15. The jobs that could mean a pay cut of half — or more — from his steel mill days. But Martin, 31, isn't exactly in the same boat as everybody else. Half of the mill's workers started at Sparrows Point before he was born. Hundreds of its laid-off workers are eligible, if not able, to retire. Martin is part of a smaller group — about 280 of the 1,700 hourly employees — who are in their 20s or 30s and have most of their working lives ahead of them.
BUSINESS
Eileen Ambrose | June 25, 2012
Sure, it's tough out there for jobless workers age 55 and older. More than one third of them are out of work for more than a year, according to Challenger, Gray & Christmas. But an analysis by the executive outplacement firm found that the biggest gains in employment in the past two years have occurred among the older crowd. The number of working Americans grew by 4.3 million from January 2010 to May 2012, and workers 55 and up account form 2.9 of them, or nearly 70 percent.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 30, 2011
Jo Anne Schneider studies marginalized groups: refugees, the poor, people with disabilities — and, lately, Americans who have been unemployed for months and months, which includes a lot of people who never would have considered themselves on the fringe before. "You've got this whole population of what was the stable middle class that is now out of work," said Schneider, a Catonsville anthropologist who is affiliated with George Washington University. in Washington, D.C. "The last time you saw that … was probably the '30s.
NEWS
Susan Reimer | October 24, 2011
"Near-retirees," as those of us of a certain age are often called, are getting a lot of mixed messages. Fortune magazine reports that companies are hanging onto their baby boomers because they fear a brain drain - a loss of skills and institutional knowledge. In 1985, the magazine says, about 11 percent of people over 65 worked full- or part-time. This year, the figure is more than 18 percent. However, while unemployment among older workers is 6.2 percent, significantly below the national rate of 9.1 percent, it is double what it was three years ago. And the U.S. Government Accountability Office says that those 55 and older who lose their jobs wait an average of three times longer than they did in 2007 - from 11 to 31 weeks - before they find work.
NEWS
By Jo Anne Schneider | October 19, 2011
Unemployment in this recession could have long-term ripple effects because many more of the long-term unemployed are educated, middle age and middle class. Retirement systems will face the consequences of lower contributions and early retirements. Parents are having trouble funding college as they lose income. Those previously with stable credit can't pay mortgages and other obligations. The presence of so many older, educated people among the ranks of the unemployed requires a nuanced policy response.
NEWS
By Raven L. Hill, The Baltimore Sun | July 3, 2011
Paula Foertsch wasn't ready to be forced into retirement at age 60. An office supervisor, Foertsch started looking for ways to start her second act shortly after she was laid off in January 2009. She'd always been interested in doing medical billing. Her timing couldn't have been better. Baltimore County was launching Maturity Works, a custom health care job training program for people age 55 and up, part of a nationwide effort to prepare older employees for the new workplace and meet regional employment needs.
BUSINESS
By Rhoda Amon and Rhoda Amon,Newsday | February 24, 1992
The summer before 68-year-old Kay McGurty retired, she was introduced to her new supervisor, a man young enough to be her grandson."He has no socks on," she reported to her fellow clerks in the county courthouse building, mostly women of similar vintage. "He's going to be our boss, and he has no socks on."Another Wunderkind, 26-year-old Jeffrey Zucker, executive producer of NBC-TV's "Today," says he "doesn't even own a suit."No socks, no suit: Does this perturb an older worker because it signals changing generational lifestyles, or because it's a visible reminder that a younger generation is running the show?
BUSINESS
By T. Shawn Taylor and T. Shawn Taylor,SPECIAL TO THE SUN | March 18, 2002
In the next 25 years, the American economy will be dealt a blow that could slash productivity and put a stop to growth. It's not an attack from outside, but the aging of our own work force. And few employers have given any thought to how they are going to deal with the crisis, labor economists say. In fact, indications are that employers will try to retain older workers only as a last resort. "There is no evidence that employers are that interested in keeping their older workers," said Clare Hush- beck, senior legislative representative for AARP.
NEWS
June 21, 2011
I immigrated to the United States more than 50 years ago. I served in the U.S. Navy during the Vietnam War. I pay taxes, and I love this country. It saddens me that there are so many people without a job; although I am not an economist, I would like to say something about the economy as an ordinary citizen. Corporate America is making record profits; they have transferred their business to China, India, Brazil and other developing countries where profits are higher since workers in those places have lower salaries than our workers here.
NEWS
By Ron Smith | June 16, 2011
There is a boom in baby boomer joblessness. It has more than doubled, from 3.2 percent to 6.8 percent, since the recession began. Earlier this week, a CBS Evening News report focused on the plight of unemployed professionals ages 55 and older in the Charlotte, N.C. area. Even the most organized among them - like those who make looking for a job a full-time job - can't find work. One of the people interviewed has a Harvard MBA but no job. Another, a 56-year-old financial professional, works long days trying to place himself in a new job, with no luck so far. He told reporter Byron Pitts that he has resigned himself to working into his 70s. We hear this all the time, don't we?
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