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Collins: Growing Number of Seniors Working in Retirement

WASHINGTON - They've been called the "four-legged stool" of a comfortable retirement: Social Security, a pension, retirement savings and continued paid work.

The U.S. Senate Committee on Aging, chaired by Maine Republican Sen. Susan Collins, held a hearing to look into the growing trend of seniors who work during their retirement years, either because they must or because they want to.

Collins says older workers provide talent, institutional knowledge and, especially, a strong work ethic. "An engaged work force is so important to the bottom line that a Fortune 1000 company could improve its profits by a $ 150 million a year if its entire workforce were as engaged as older workers, according to the AARP." 

Among those testifying today was Susan Nordman, owner of Erda Handbags in Dexter, Maine, who employs a number of seniors. Nordman says they add great value to her small business because of their experience, knowledge and ability to work in a collaborative environment.