Characteristics of the longest job for new retired workers: findings from the New Beneficiary Survey

This article describes the duration and type of employment, occupational and industrial classification, and pension coverage associated with the longest job ever held by new social security retired-worker beneficiaries and nonretired persons enrolled only for Medicare. The Medicare-only enrollees usually had their retired-worker benefits withheld because their earnings exceeded exempt amounts under the social security earnings test. They were more likely to be self-employed and to be in executive, administrative, managerial, or professional occupations. By contrast, new retired-worker beneficiaries closely resembled the general labor force with respect to occupation, industry, and employer type. Persons who claimed benefits before age 65 differed from older retirees in that they were more likely to be in service and blue-collar occupations and less likely to be self-employed. Both sexes increased their pension coverage between the late 1960's and the early 1980's. By the latter period, the majority of retired workers reported employee pension coverage and, of those covered, most received a monthly benefit. Fewer women than men indicated pension coverage. Married women who retired early were least likely to indicate pension coverage and, when covered, were more likely than other retirees to report the receipt of a lump sum payment in lieu of monthly payments.