Promoting Economic Security at Older Ages through Workforce Development

Testimony

Promoting Economic Security at Older Ages through Workforce Development

Written Testimony to the Senate Special Committee on Aging U.S. Congress
February 27, 2009

Abstract

The 2008-2009 collapse in the stock market wiped out trillions of dollars in retirement account wealth and forced millions of boomers to rethink their retirement plans. Working longer is commonly seen as the key solution to the retirement financing dilemma. However, poor job prospects prevent many older people with limited education from working into later life. This testimony for the Senate Special Committee on Aging argues that Congress could improve the economic security of these older adults in retirement and in the years leading up to retirement by increasing government-funded employment and training services.

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