Why are we squandering our older workers?

vent of Social Security, the average life expectancy was 61.9. Today, it is 79.4 years.

Large professional services firms are increasingly adding mandatory retirement ages for their partners, some as early as 60. These retirees are more apt to have sufficient financial cushions, but how attractive is the prospect of playing golf for 30 years? For those with lower paying jobs, how can they continue to earn an income sufficient for their needs, which often include caring for a dependent parent or two?

There are a few points of light. The federal judiciary system allows older judges to elect “senior status” and work on a reduced basis for as long as they are able. Because of this enlightened approach, my late Uncle Len was able to serve on the 3rd Circuit Court of Appeals for 28 years after what would have been his retirement and did his part to reduce the huge backlog in federal courts.

The Encore Fellowships Network (the brainchild of my company, Encore.org) places late-career professionals in fellowships with social sector organizations that can really use their skills. The AARP Experience Corps places people 50 and older as tutors in some of the most under-resourced schools and neighborhoods in 22 cities across the nation.

The stories and data coming out of these initiatives are inspiring, but they are the exception rather than the rule. Because of pervasive ageism, we are squandering one of our country’s greatest assets — experienced talent.