April 21 (Reuters) - The Great Retirement is morphing into the Great Return, with the U.S. employment report for March, released earlier this month, showing a jump back into the labor force among older workers. That reflects the plentiful number of available jobs - and reduced concerns about the health risks associated with COVID-19.
The pandemic forced millions of older workers into early retirement, causing many to stop saving and claim Social Security earlier than planned. This robbed them of the opportunity to boost their monthly benefits down the road through a delayed claim.
Working longer is a great way to bolster income in retirement. But if you count yourself among the “back to work” crowd, your retirement plan may need an adjustment - especially enrollment in Social Security and Medicare.