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Data from two national longitudinal studies of older workers were examined in order to compare the determinants and consequences of retirement for white and black men, and for poverty, marginal, and upper economic level men. The number of categories important in determining retirement was greater for white men than for black men and increased with increase in economic level. Retirement was found to have few consequences, being important mainly with respect to health and economic matters. Blacks and poverty level men were minimally affected by retirement, the impact of retirement probably being somewhat ameliorated by age-determined income maintenance programs and subsidies. Men at the marginal economic level were affected most adversely.
Fillenbaum et al. (Tue,) studied this question.