TRANSITIONING: ENCORE CAREERS AND INTERNSHIPS

Three-quarters of boomers surveyed by Merrill Lynch plan to continue working, and if they "retire" around 64 or earlier, they plan to start a second career. Usually they are looking for a next career that not only pays the bills but also gives back. The buzz phrase is "encore careers," and a number of vehicles are emerging to help boomers and their elders make the transition to new careers in nonprofit organizations or public service.

 

It used to be that AmeriCorps was the domain of the under-30 set looking to accumulate experience and credentials on the way to more lasting careers. Since the Serve America Act was signed into law this spring, the demographics changed as it aims to fill at least 10 percent of AmeriCorps openings with people 55 and older. It also establishes "Encore Fellowships" that place people 55 and older in management positions in nonprofits. It authorizes $11,000 apiece for 10 fellows per state, with host organizations providing matching funds. Think internships for people with already extensive resumes. This is just one example of a definite trend.