The average retirement age is higher than traditional measures suggest, according to a new Economic Policy Institute briefing paper. “The myth of early retirement” explains why existing measures of average retirement age are misleading and suggests a new, more accurate measure.

Over the past 25 years, people have begun retiring later and later. According to the paper’s author, economist Monique Morrissey, the share of 55- to 64-year-olds currently in the labor force is the highest on record, and the share of workers who are 55 or older is now the same as it was 50 years ago.

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