Boards are most likely to have mandatory retirement age policiesHaving a mandatory retirement policy for board members is up to the discretion of individual companies.
“In 2023, 69% of [S&P 500] boards reported having a mandatory retirement policy — down one point from 2022,” according to an August 2023 report from executive search firm Spencer Stuart.
Many other public safety occupations do have mandatory retirement ages.
The whys behind mandatory retirement agesThere may be varied stated reasons for having a mandatory retirement age, such as opening up the pipeline for younger talent to have more opportunities.
For that reason, advocates for older workers, like the AARP, contend all mandatory retirement ages should be eliminated, even for demanding jobs involving public safety.
Persons:
Al Gore, Russell, —, Berkshire Hathaway’s Warren Buffett, Spencer Stuart, ”, Matteo Tonello, Tonnello, Tonello, Brian Cornell, Dave Calhoun, Thomas McKinney, McKinney, “, Mary O’Neill, ” O’Neill
Organizations:
New, New York CNN, Former, Berkshire, Conference Board, Corporate America, The Conference Board, Boeing, American College of Surgeons, Capitol Police, U.S ., Personnel Management, Commission, AARP
Locations:
New York, Corporate America, Corporate, Calhoun, Castronovo, McKinney, , New Jersey, —, Federal, New York State