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Center for Productive Longevity Working to Defuse the Ticking Time Bomb

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					   Center for Productive Longevity Working to Defuse the
                    Ticking Time Bomb

  Organization Brings Awareness to the Alarming Facts of an Aging Workforce

Boulder, CO, May 10, 2012 – The Center for Productive Longevity (CPL), which
serves as the bridge between people 55 and older and the opportunities that enable
them to continue in productive activities, today described “The 3 Important Ways
to Defuse the Ticking Time Bomb of our Aging Workforce”. With 77 million
people in the United States 55 and older, we are at a tipping point: we can either
watch them sit on the sidelines, drawing from unsustainable entitlement programs
and the general economy, or we can enable this growing population segment to
continue working and contribute to the country’s economic growth and prosperity.

Recent surveys by AARP indicate that 80 percent of the Baby Boomers intend to
continue working after leaving their regular career jobs, more than half on less than
a full-time basis. Many need or want the additional income, particularly because of
their wealth reduction from the recession in 2001 and the global economic crisis that
began in the U.S. in late 2007. Other reasons to continue working include the desire
to maintain cognitive skills, continue adding value, and remain socially connected.

“We have been aware of this ticking time bomb for years without taking effective
action. Now it’s really getting louder with the growing retirement of Baby Boomers
at the rate of 4.2 million each year from 2011 through 2029, compounded by high
unemployment and low economic growth for the foreseeable future,” says William
Zinke, 85, founder and president of CPL. “We can defuse this time bomb by creating
a wave of entrepreneurship across the country and stimulating employers to take a
more flexible approach in providing employment opportunities for older workers.”

According to CPL, we can defuse the ticking time bomb of our aging workforce in
three important ways:

1.       Baby Boomer Entrepreneurship
Create awareness and understanding among the Baby Boomers about the benefits
and opportunities of creating their own businesses. Entrepreneurship remains a
critical factor in the country’s economic growth and vitality, with a spirit of
pioneering and self-reliance still a part of America’s DNA.

2.     Flexible Workplace Options
Stimulate employers to develop phased retirement programs and other flexible
workplace options that will retain and attract Baby Boomers 55 and older who want
to continue working but on a part-time basis. A movement is developing in this
direction, but a recent survey by Harris Interactive indicates that only 24 percent of
Fortune 1000 companies provide such options.

3.       Greater Talent Pool Utilization
The reality is that America has a large and growing talent pool of workers 55 and
older with experience, expertise, seasoned judgment and proven performance
(EESP). Research shows that older workers have a higher level of commitment,
reliability and motivation; have better overall skills and abilities than younger
workers; and have much lower absenteeism and turnover. This talent pool must be
tapped to a substantially greater degree.

“Economic growth and our standard of living may be reduced if older workers are not
provided with opportunities to continue working, yet there is no real recognition of
the need to do so,” adds Zinke. “It is CPL’s purpose to change the national mindset
about aging and retirement.”

One way CPL is highlighting the benefits of senior entrepreneurship is by organizing
a series of four meetings titled “Spotlight on Entrepreneurship Opportunities
for Baby Boomers”. The first meeting was held at the Kauffman Foundation in
Kansas City, MO, the focal point for entrepreneurship in America, on March 27 with
almost 100 participants and excellent feedback. The next three meetings will be held
at Babson College in Wellesley, MA on September 14, Northwestern
University/Kellogg School of Business in Chicago on October 11, and the University
of Denver on November 15. To register, visit http://www.ctrpl.org/entrepreneurship-
meeting/overview.

About the Center for Productive Longevity
The mission of CPL is to be the bridge between people 55 and older and their
engagement in productive activities, paid and volunteer, where they are qualified
and ready to continue adding value. It is imperative that we recognize the value
added by an aging workforce. Visit ctrpl.org for more information. Follow the Center
for Productive Longevity on Facebook at facebook.com/CTRPL.

Media Contacts:
Jenny Foust or Alicia Hassinger
Communications Strategy Group
303.433.7020
jfoust@csg-pr.com or ahassinger@csg-pr.com

Company Contacts:
William K. Zinke or James R. Hooks
Center for Productive Longevity
303.499.3939
wzinke@ctrpl.org or jhooks@ctrpl.org

				
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Description: Organization Brings Awareness to the Alarming Facts of an Aging Workforce