Just one in 10 of “pushed out” workers ever manages to earn as much as they did before employment setbacks began—and the effects linger for years afterward. (Photo: Shutterstock)
For all the due-diligence and retirement planning older Americans have done, there's one obstacle that just won't go away, one that poses a major financial burden.
A ProPublica and Urban Institute report finds that, despite the federal Age Discrimination in Employment Act, more than half of workers over 50 are being pushed out of longtime stable jobs even if they hadn't planned to retire—and the resultant financial damage could haunt them for the rest of their lives.
In fact, according to the report, 28 percent of longtime employees have experienced at least one layoff between turning 50 and retiring.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
