The very definition of retirement has changed. Rather than leaving the labor force completely, many full-time workers engage in gradual retirement. Gradual retirement involves leaving full-time employment for part-time employment, either with the same employer or another employer. This paper examines the determinants of the gradual retirement decisions of older workers. The paper uses panel data from the PSID and a random-effects ordered-logit model. The results indicate that older individuals, Blacks, and individuals with higher non-labor income are more likely to engage in gradual or full retirement. They also indicate that married individuals, college graduates, and those who are in good health are less likely to either gradually or fully retire. The 60s are the time most people engage in gradual retirement.

退休的定义已经改变。许多全职工人没有完全离开劳动力，而是逐步退休。逐步退休涉及将全职工作留给同一个雇主或另一位雇主进行兼职工作。本文研究了老年工人逐步退休决定的决定因素。本文使用来自PSID的面板数据和随机效应有序logit模型。结果表明，老年人，黑人和非劳动收入较高的人更有可能逐渐或完全退休。他们还表明，已婚人士，大学毕业生以及身体健康的人不太可能逐渐或完全退休。60年代是大多数人逐渐退休的时间。