A study analyzed the changing nature of older persons in the labor force, factors that may affect their work decisions, and policy changes that could facilitate their continuation or reentry into the work force beyond the normal retirement age. Data examined during the survey indicate that while the number of people aged 65 and older is continuing to increase as a share of the total population, the fraction of older persons in the labor force is declining. The declining number of older persons who choose to remain in the work force could reduce the amount of goods and services produced in the economy, reduce personal incomes, and put upward pressure on prices and inflation. Therefore, Congress might want to consider policy changes that would encourage older persons to continue in, or reenter, the work force. Included among such potential policy changes are altering the Social Security age benefit structure, changing the Social Security earnings test, requiring continued accrual of private pension plans, increasing allowable retirement under private pensions, eliminating the mandatory retirement age, providing employment tax credits to firms employing older workers, and helping both experienced and inexperienced older workers find jobs. (MN)