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Baby Boomer 'Brain Drain' Will be a Slow Leak

Information Week, 2/11/08

Abstract:

Even before the first wave of baby boomers began reaching retirement age, predictions of an impending brain drain looked pretty dire. About 50 percent of the federal government's workforce was expected to retire over the next few years. Now, it looks like many of those people will be staying longer.

The "tsunami" of federal workers that was expected to retire in the next five years will be more like a trickle, according to a new report by John Skye, an analyst at research firm Input.

That's due to an assortment of reasons, including prospective retirees wanting to "stay active" longer to those wanting to "refill the coffers" of their retirement savings, says Slye. "After the dot-com bust, the market went south and some are still trying to recover," he says.

And if the same patterns hold true for retirement-age baby boomers in the private sector, those folks will likely be sticking around for a while, too.

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