A study examined existing literature on retirement practices and policy. Demographic change and the gradual development of pension benefits have led to the phenomenon of early retirement. There are three groups of early retirees. The voluntary retiree is in relatively good health, with adequate financial resources, can take full advantage of early retirement benefits and is prepared to enact the retirement role. Among involuntary retirees are those who retire because of ill health and those whose jobs are eliminated The third group consists of unprepared retirees. Initial research on the early retirement experience was conducted before the growth of inflation. Thus it did not encounter that stressful retirement experience which would later develop because of inflation and which would require such interventions as retraining and job search assistance consistent with an unemployment approach to early retirement. To develop policy alternatives in early retirement practice, more information is needed on the costs and benefits of early retirement to the individual and the national economy. An unemployment-oriented and a life-cycle approach are needed in future early retirement research. Future policy must emphasize the productive retention of older workers, thus shifting emphasis from early retirement to the larger area of work and aging. (MN)