Many Workers at Small Businesses Are Staying on Past 65

Almost 1/5th of 390 small businesses participating in the National Association of Professional Employer Organizations March 2007 survey say their older workers are staying on past the usual retirement age of 65. More than 1/3rd of participants reported employees are still working because they can't afford to retire. Twice as many said employees were staying past 65 because they liked working or enjoyed the extra income. 5% of American workers are between 60 and 64 years old, or almost 7 million people. That number jumped nearly 25% from five years ago. Many, experts say, have not saved enough to retire. Small businesses, of course, face the same problems, the survey shows - but with fewer resources. Source: www.napeo.org