Data & Research October 7, 2010

Working Retirees ‘The New Normal’

A new study finds one in five workers age 50 or above has retired from his old employment and moved into a new paying position, which researchers dub a “retirement job.”
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The study, “Working In Retirement: A 21st Century Phenomenon,“ contends the notion of retirees staying in the workforce is becoming the “new normal.” In the future, before entirely withdrawing from work, having a retirement job “is a bridge that tends to emphasize working by choice and for enjoyment,” the report said.

The research from the Families and Work Institute and the Sloan Center on Aging & Work found 75% of workers age 50 and older anticipate having retirement jobs.

According to the study, generating income isn’t the only reason for the working-in-retirement trend: 31% report that they are working to stay active, and 18% say they want to contribute and be productive. Less than one in five report working because of insufficient income; the typical median yearly income among those working in retirement is $21,000 less than those who have never retired.

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Not only that, according to the research, most working retirees like what they do and are engaged with their employer.  They more positively rate their workplaces for work-life fit, supervisor task support, and climate of respect and trust, and are most likely to be engaged in their jobs when their jobs are challenging and provide learning opportunities.

The majority of working retirees report working full time and wanting to work the same or more hours, and more than half say they have no plans to leave their current employment situation for at least another five years. Nearly 10% of those working in retirement state that they will continue doing the same work until they die.

“Traditionally, we have conceived of the life cycle as a ladder where we move from education to employment to retirement,” said Ellen Galinsky, president of Families and Work Institute, in a news release about the research. “That is not the reality today. We need to understand that the employees of today and tomorrow will cycle in and out of education, employment, and retirement. The better we understand this new paradigm, the better we will be able to plan for and manage it.”

The study used data from Families and Work Institute’s 2008 nationally representative study of the U.S. workforce, the National Study of the Changing Workforce.

Diversions October 7, 2010

Deer Not as Dainty as They Look

USAA auto insurance claims records show that animal-auto collisions are on the rise and warn drivers that most accidents occur in the fall.   
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The eighth-largest auto insurance provider released figures that show animal-vehicle collisions increased seven percent from 2008 to 2009.  However, the National Highway Traffic Safety Administration (NHTSA) also has data that show the number of fatalities and injuries from these accidents has decreased.   

Fall is breeding season for deer and they tend to become most active in November, says USAA.  Last year, 69% more claims were filed for animal-vehicle collisions during the fall than in the spring.   

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Collisions with animals are also costly, with average claims of $2,886 in 2009, according to USAA.  They can also be deadly. The Insurance Institute for Highway Safety (IIHS) says that the number of human deaths from collisions with animals rose nearly 19% between 2001 and 2008, from 177 to 210.

“These findings remind motorists to be extra vigilant of deer during the fall, particularly during the dawn and dusk hours when they are looking for food,” said Ken Rosen, USAA’s senior vice president of claims. “We want motorists to stay safe no matter where the road takes them this fall.”

In 2009, West Virginia had the highest frequency rate of animal-vehicle collisions, according to USAA. The 10 states with the highest occurrences were:

  1. West Virginia
  2. South Dakota
  3. Iowa
  4. Montana
  5. Michigan
  6. Wyoming
  7. North Dakota
  8. Wisconsin
  9. Pennsylvania
  10. Mississippi

USAA offers the following tips to stay safe on the roads this season:

  • Keep the six D’s in mind – Deer are most active at dawn and dusk so drive defensively during those hours. Stay off your cell phone and keep your seat belt fastened. IIHS says that most animal-vehicle collision deaths wouldn’t have occurred if motorists used seat belts and motorcyclists wore helmets.
  • Watch the signs – Deer crossing signs designate popular deer crossing locations. Slow down when you see the signs, and be on the lookout for deer herds after you’ve seen one deer – they seldom travel alone.
  • Brake for deer – Honking can sometimes be used to prevent deer from running into traffic, but deer are unpredictable. Safety experts recommend braking firmly and not swerving to avoid the deer. While you may be tempted to use your high-beam headlights when a deer is directly in front of you, they could cause a deer to stop in its tracks rather than running to safety just “like a deer in the headlights.” Braking firmly is the best line of defense.
  • Stay put if you strike a deer – Do not get out of the vehicle to inspect the animal. It could still be alive and could cause injury. It’s best to contact local authorities should the animal be blocking potential traffic. For vehicle assistance, USAA members can receive immediate accident and roadside assistance through their iPhone and AndroidTM phones via USAA’s mobile app. Members can file a claim online at www.usaa.com/claims or by calling 1-800-531-USAA (8722).

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