Employment, Retirement, and Living Arrangements

9 important questions on Employment, Retirement, and Living Arrangements

Adult congregate living facilities

Buildings that require residents to meet a minimum age requirement (often 62) and to live with relative independence, although some services may be provided on the premises.

Age Discrimination in Employment Act (ADEA)

Legislation initially enacted in 1967 to protect workers aged 40  and older from discrimination in both hiring and employment practices.

Age integrated housing

Houses, apartments, and condominiums that are independent living arrangements with no specific age requirements
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Assissted living facilities

Supportive living environments (private rooms or small appartments) that offer meals, personal care, medication monitoring, and activity programs.

Board and care homes

Small, privately run homes converted from single-family structures to house three or four indiciduals that are unable to live independently in the community

Constant housing and accomodating housing

Two different models for older adult housing that are inflexible or flexible. respectively, with regard to making changes and accomodations to meet the needs of an aging tenant population.

Continuing care retirement communities (CCRCs)

living environments with various levels of support, ranging from independent living to assisted living to nursing home care

Defined benefit pension plans

Retirement plans that require individuals to work for a certain number of years to be vested, or eligible to receive financial benefits when they reach the age of retirement. These plans guarantee lifetime monthly benefits to retirees, with the burden of paying pension benefits falling squarely on the employer.

Defined contribution pension plans

Retirement plan in which employers contribute a percentage of the employee's salary to a taxdeferred account over which employee's usually have some control. Upon retirement, employees are entitled to the money accumulated even if they have changed employers.

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