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December 29, 2013 in Business

Workers enter checks into a banking machine at the old Spokane and Eastern Bank in the 1940s. The history of the U.S. workforce has changed dramatically over the years, and so has retirement. The United States created Social Security in 1935 and added Medicare health benefits for the elderly in 1965.

File photo

As financial needs have changed since the recent recession and older Americans are in better health, many elderly citizens are working well past mandatory retirement age.