[Excerpt] This paper has focused on the impact of retirement policies on the level and distribution of employment and unemployment. All of the policies discussed, except for early retirement provisions in privately negotiated collective bargaining contracts were seen to have adverse effects on the level and distribution of employment. Hence, the paper illustrates the more general point that policies designed to promote one social goal may well detract from achieving other goals and suggests that more explicit attention should be given to the employment effects of social programs and legislation prior to their adoption.