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2005 AARP Best Employers for Workers Over 50

August 31, 2005--Phased retirement arrangements that enable employees to reduce work schedules before full retirement, a "time off bank" of donated vacation time which employees can use to care for family members, and a 401(k) plan that the company contributes to – regardless of employee participation – is why Stanley Consultants, Inc. leads the list of the 2005 AARP Best Employers for 2005.

This Iowa-based engineering, environmental and construction company ranks first among 50 diverse employers that won the Best Employers honor. Again this year, health care companies dominate the winners, followed by financial services and educational institutions.

Stanley Consultants is joined at the top of the rankings by a broad range of employers that includes Scripps Health of San Diego (ranked #2) Bon Secours Richmond Health System of Richmond, VA (#3), Deere & Company of Moline, IL (#4), Cornell University of Ithaca, NY (#5), Massachusetts Institute of Technology in Cambridge (#6), First Horizon National Corporation in Memphis, TN (#7), Brevard Public Schools in Viera, FL (#8), Yale-New Haven Hospital in CT (#9), and Lee Memorial Health System of Ft. Myers, FL (#10).

"These distinguished employers have exemplary practices at a time when the value of older employees is beginning to be broadly recognized as a key resource for corporations," said AARP CEO Bill Novelli. "Many in health care and other fields recognize that it is in their self-interest, as well as enlightened policy, to emphasize retention and recruitment of the 50 plus worker."

"Too many employers still do not recognize the advantages that older workers bring to the table," added Novelli. "The value of these employees will become increasingly apparent as the workforce ages in the years ahead."

Commenting on his company's designation as the leading Best Employer, Stanley Consultants President and CEO Gregs Thomopulos said:

"We are extremely honored to be recognized as a leader by AARP, a validation of the value that our company places on our older workers who are a crucial part of our workforce.

"We recognize the strong competition for this recognition by small and large businesses throughout the country, and are proud that this year we came out at the top of the list."

AARP also is releasing highlights of its research about mature workers – the top five advantages of mature workers and the top five stereotypes and realities about experienced workers – as well as a list of states with the most AARP Best Employers for Workers Over 50 and an outline of the top five criteria in selection of the Best Employers.

AARP's new Bernard E. Nash Award for Innovation is being given to three AARP Best Employers with exemplary practices in recruitment, flexible work options and rehiring of retirees. They are: First Horizon National Corporation (flexible work options); Pepco Holdings Inc. (retiree work opportunities); and Carondelet Health Network (recruitment).

AARP invites employers to apply for the Best Employer designation by submitting an application describing their exemplary practices toward older workers. A consulting firm provides a preliminary ranking of the applicants, then a panel of nine outside judges evaluates the applications. The judges' rankings, along with the consultant's evaluations, lead to the final rankings.

Nearly one half of the honorees – including Stanley Consultants, Scripps Health, Bon Secours, Deere & Company, MIT, and First Horizon National Corporation – are previous winners in the annual AARP search.

This year, Michigan tops the 25 states with six winners, while Virginia has five, and Arizona, California, Connecticut, Illinois, and West Virginia secured three awards each.

Speaking on the issue of continued employment of older workers, Alicia Munnell, director of Boston College's Center for Retirement Research, said:

"As the population ages, employers will no longer be able to rely on a large influx of young workers. Hiring older workers seems like a natural solution – they will be better educated and healthier than in the past, they will have a lifetime of experience, and they will be well suited to a job market that has become much less physically demanding."

The awardees will be honored at a prestigious dinner in Chicago on September 22. In conjunction with the event, AARP, in partnership with Mercer Human Resource Consulting and Financial Times, the exclusive media partner, will host a national conference the next day. "Business Solutions for an Aging Society" will focus on preparing American business for the changing workplace demographics and how to remain competitive in today's global market through employer best practices. AARP The Magazine will focus on Best Employers in its November-December issue.