The flashcards below were created by user
speedy1joker
on FreezingBlue Flashcards.
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What is crisp retirement?
making a drastic transition to retirement
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What is blurred retirement?
making a gradual transition to retirement through bridge jobs
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How do we know when we are in retirement?
when we rely more on social security than a continued paycheck
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What are Atchley's phases of retirement?
- remote phase (not thinking about retirement)
- near phase (getting ready for retirement)
- honeymoon phase (loving retirement)
- disenchantment phase (re-thinking how you want to experience retirement)
- re-orientation phase (discovering potential ways to improve retirement experience)
- retirement routine phase (officially settling into preferred way of living the life of retirement)
- termination of retirement phase (loss of retirement independence due to aging physical disability and illness)
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What are the male trends in labor force participation?
traditional male pattern of working full time into their 50s
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What are the three female trends in labor force participation?
- brief spells out of work for child raising
- extended spells, child raising until in school
- no work at all, only home care
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Who has the lowest unemployment rate?
non-hispanic whites
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Which gender in the black community has a higher participation in the labor force?
older black women
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What problems with labor force participation do young black men face?
- lower high school completion rate
- incarceration
- employment discrimination
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How does the Age Discrimination and Employment Act of 1967 counter-act age discrimination?
banning discrimination in hiring process for ages between 40-65
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What are the employment biases held against?
preventing higher salaries and using stereotypes
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What does research show about older adults?
they can learn new skills just as well as younger workers
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What are the consequences of employment biases?
- harder to find new jobs
- loss of health insurance if under age 65
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What potential new jobs are available for older adults?
voluntary or economic (paid) part-time
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What is phased retirement?
having same job but decreasing in hours over time from full time to part time as retirement nears
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What is contingent work?
holding temporary jobs where expertise are held
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What are the Macro causes of labor force withdrawal?
- social security benefits (early retirement, cost of living adjustments, elimination of earnings test)
- disability insurance
- economic trends
- defined benefit to defined contribution (pension) plans (contribution provides incentive to work longer)
- erosion of health benefits (obamacare may change this)
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What are the Micro causes of labor force withdrawal/retirement?
- rules of the particular job
- what the meaning of work is for you (personal satisfaction leads to staying in job longer)
- health (bad health leads to early retirement)
- income (assets/savings, pensions, earnings, social security)
- family responsibilities (caregiving of grandkids or aging parents, mostly under responsibility of women)
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What are adequacy and equity in relation to social security?
- adequacy: have enough funds
- equity: pay more in, get more out (fairness)
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What does the crisis theory say?
we are unsure of what to do in retirement
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What does the continuity theory say?
we transition into more enjoyable activities (data supports this theory)
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What is satisfaction in retirement related to?
- health (good health leads to satisfied retirement)
- income (comfortable income)
- planning
- voluntary
- married (retiring together, more satisfaction)
- accurate preconception (good understanding of what to expect)
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What activities occur during retirement?
- leisure (good health and income leads to happy leisure)
- volunteering (benefits from community which leads to a happy and healthy volunteer)
- being religious (leads to reduction in stress, brings meaning and order to life, provides social networks/connections, improves self esteem, and lowers mortality by encouraging healthy behaviors)
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