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The Widener University 'Elder Pennsylvanian Survey' Finds Pennsylvania's Baby Boomers Anticipate Working Longer, Retiring Later to Help Offset Looming Health Care Costs
Date:1/15/2008

ided lifetime pensions are steadily decreasing, boomers are feelings an increased pressure to manage their own retirement sayings plans. The majority of non-retired people (92 percent) have defined-contribution plans, such as 401(k)s, while only 63 percent of those currently retired do. Nearly half of boomers who had not retired had developed a plan (48 percent), while only 34 percent of the retired group had developed a financial plan with specific goals for retirement, indicating an increased understanding in the need to plan.

"As trends shift away from employer provided plans and health insurance, personal responsibility becomes even more pressing," said Dr. Brucker. "I would urge all boomers who haven't made a plan to address these issues do so as soon as possible."

Brucker has served as a dean at four different universities, including Widener's School of Business Administration, and currently serves on several national committees, including a task force sponsored by the Association of Gerontology in Higher Education (AGHE), and a task force sponsored by the American Association of Retired People (AARP) Office of Academic Affairs. He received his doctorate from Duke University and his undergraduate degree from the University of Delaware. In the second volume, which will be released in the spring of 2008, Brucker will specifically research the health care and health insurance concerns of elder Pennsylvanians.

About the Survey

The information in this release is based on survey research conducted by Dr. Eric Brucker, professor of economics at Widener University. Brucker is the principle investigator on a Pennsylvania Financial Gerontology Survey funded by the Pennsylvania Department of Education, as well as co-author of "The Widener Elder Pennsylvanian Survey: Baby Boomers to Centenarians Volume 1." The telephonic survey, conducted in cooperation with Mathew Greenwald and Associates, was undertaken in May 2007 and was restricted
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SOURCE Widener University
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