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Men, Work, and Family

Retirement savings among U.S. older adult male workers by paid sick leave, flexible work, and vacation benefit status

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Pages 357-373 | Received 21 Feb 2019, Accepted 05 Sep 2019, Published online: 21 Oct 2019
 

ABSTRACT

Using a nationally representative sample from the 2012 National Longitudinal Survey of Youth, this study evaluates the retirement savings of 994 older male US workers (ages 47–55) by their access to flextime, paid sick leave and vacation time. After controlling for 12 demographic, education, household, and work-related variables, when measured dichotomously, multiple regression findings indicated workers with flexible work time enjoyed a 24.8% increase in retirement savings compared to those who did not have flexible work time, and workers with paid sick leave had retirement savings 29.6% higher than those workers who lacked paid sick leave benefits. Further, when paid sick leave and vacation time were measured ordinally, workers with six to 10 paid sick leave days and workers with more than 10 paid sick days annually had a statistically significantly higher (30.1% and 40.7%, respectively) amount in their retirement savings. Statistically significant decreases in retirement savings were observed for workers with 1–5 vacation days annually. These robust findings suggest the provision of flextime and paid sick leave benefits may affect retirement savings among older adult male workers. Implications for policy are set forth.

RESUMEN

Usando una muestra representativa de la 2012 National Longitudinal Survey of Youth (Encuesta Longitudinal Nacional sobre la Juventud), este artículo evalúa los ahorros para el retiro de 994 trabajadores masculinos norteamericanos mayores (edades entre 47–55) teniendo en cuenta el acceso a un horario flexible, el permiso remunerado por baja de enfermedad y el tiempo de vacaciones. Tras controlar 12 variables relacionadas con la demografía, la educación, la familia y el trabajo, varios resultados de regresiones múltiples mostraron, después de una medición dicotómica, que los trabajadores con un horario de trabajo flexible disfrutaron de un aumento del 24.8% en sus ahorros para el retiro comparados con aquéllos que no habían tenido esta flexibilidad, y que los trabajadores con permiso remunerado por baja de enfermedad tenían un 29.6% más de ahorros que quienes no habían tenido este permiso. Más aún, cuando el permiso remunerado por baja de enfermedad y el tiempo de vacaciones se midieron de manera ordinaria, los trabajadores que habían disfrutado anualmente de 6 a 10 días de permiso y los que lo habían hecho de más de 10 días tuvieron un aumento estadísticamente considerable (30.1% y 40.7% respectivamente) de sus ahorros para el retiro. Se observaron descensos estadísticamente considerables en los ahorros para el retiro de trabajadores con entre 1 y 5 días de vacaciones anuales. Estos importantes hallazgos sugieren que el proporcionar un horario flexible y un permiso remunerado por baja de enfermedad puede influir en los ahorros para el retiro entre los trabajadores de sexo masculino adultos. Se exponen algunas implicaciones para la normativa.

Disclosure statement

No potential conflict of interest was reported by the authors.

Data availability statement

The data that support the findings of this study are openly available at https://www.nlsinfo.org/investigator/pages/login.jsp.

Additional information

Notes on contributors

Patricia Stoddard-Dare

Dr. Patricia Stoddard-Dare is a Professor of Social Work.

LeaAnne DeRigne

Dr. LeaAnne DeRigne is an Associate Professor of Social Work.

Cyleste Collins

Dr. Cyleste Collins is an Assistant Professor of Social Work.

Linda Quinn

Dr. Linda Quinn is a Professor of Practice of Mathematics.

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