(Photo: Shutterstock)

There were plenty of reasons for people to become discouraged during COVID-19, but a new study by the Employee Benefits Research Institute found that older Americans remained optimistic about retirement despite the pandemic’s disruptions to work and finances.

The report is based on the 2020 Health and Retirement Study conducted by the Institute for Social Research at the University of Michigan. The survey of 37,000 people aged 50 and older found that 60% of respondents said their work was impacted by the pandemic. That includes 55% who had to stop working entirely, 15% who lost their job permanently, and 20% whose work became more risky due to the pandemic. Further, about 20% of workers indicated they had to change their hours or days of work and 12% said they switched to remote work.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.