Employers are adapting their workplaces and benefit plans to accommodate older workers that are putting off retirement.

According to a report released Tuesday by Bank of America Merrill Lynch, benefits for older workers, in particular, are being molded to suit a generation that is valued for talent and skills.

"Longer life expectancies and baby boomers' desire or need to keep working are leading to an aging population of American employees that will require more age-friendly workplaces and benefit plans designed to meet the unique needs of multiple generations," said Andy Sieg, head of Retirement Services for Bank of America Merrill Lynch.

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