Explore ways to offer health insurance to those who are under 65 and do not qualify for Medicare, but are phasing into retire- ment by working part-time. For those eligi- ble for Medicare, provide additional health benefits so that overall, workers over age 65 have equivalent coverage.
Employers who offer pension and retire- ment account benefits may not use age as a basis for reducing or terminating the benefits. For example, it is illegal to set a policy for matching 4 percent of a 40- year-old employee’s 401(k) contribution, but only 3 percent of a 50-year-old’s contribution.
Failing to offer an employee a promotion just because you expect him or her to retire soon
is against the law.
Offer valuable employees an incentive to work for you by creating programs or poli- cies that address the life circumstances of experienced workers, such as eldercare benefits to help with care of a spouse or parent, or accommodations to physical conditions, such as vision problems.
Offer options for phased retirement, which allows older workers to move into retire- ment gradually, by working on a reduced schedule, or possibly in a different job.