Why Won’t America’s Aging Elite Retire?

America's workforce includes a significant population of workers aged 65 and older who remain employed. According to the U.S. Bureau of Labor Statistics, the labor force participation rate for Americans 65 and older was approximately 20% in 2025, the highest level in decades. Factors cited by economists for extended work include increased longevity, changes to pension structures, and Social Security benefit calculations that reward delayed retirement. The average retirement age in the United States has risen over the past two decades.

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