70: The New 50^SM is about Retirement Management^®—an answer to the challenge of the impending baby boomer exodus from the workplace. For years, organizations have been concerned about succession management and retention management, but few have tried to encourage select retirement-age employees to stay longer. Most companies viewed such a practice as a waste of time because of the strong economic incentive to retire provided by conventional defined benefit plans. But that viewpoint has changed for most of the organizations that don’t have defined benefit plans, and it’s changing quickly for many of those that do. Throughout this book, we provide organizations with a strategy to proactively manage retirements…so retirements won’t manage your organization.

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