JSIT22-02: The Retirement Implications of Non-Standard Work

The rise in non-standard work (NSW)—independent contracting, freelancing, temporary, on-call, and “gig work” has resulted in concerns about economic consequences for workers. This study focused on the risk of having insufficient income at retirement associated with non-standard work. For most seniors, income at retirement consists of public and private sources that are tied to employment, including employer-based pensions and retirement plans and Social Security benefits that accrue over time. In contrast to traditional employment, NSW does not typically offer benefits and individuals bear responsibility for reporting their income while working in order to qualify for future Social Security benefits. These factors raise questions about how NSW may influence future seniors’ retirement income security.