How to Estimate a Plaintiff’s Retirement Age

When a Plaintiff can no longer work due to an injury, the loss of future earnings will span from the date of the incident all the way through their pre-incident retirement date. When most people think of retirement, age 65 is usually what pops into mind. To qualify for full Social Security Retirement Benefits, individuals must be between age 65 and 67. However, just relying on the Social Security Retirement age as the retirement date is incorrect.

The best method is to consider the number of active years of employment. For example, for public employees that have a defined benefit pension plan, the retirement age can be as early as age 50 (as is the case with Police Officers who have 30 years of service). For individuals in the private sector, it is important to only consider the number of active years of work. Many transitions occur for workers ranging from temporary disabilities to unemployment that removes them from the labor market for periods of time.

The Work Life Expectancy of an individual only considers the number of active years of employment and is the best method when projecting future damages. Work Life Expectancy varies depending on an individual’s gender and educational attainment. If you have any questions about a case where Work Life Expectancy will be an issue, please call us for a free consultation.