The decision concerning when to retire is the key decision in the retirement process. Whether the decision is incumbent upon the individual (voluntary) or the organization (mandatory), the decision has to be made. This study addresses the question of whether individuals who retire voluntarily will be more satisfied in retirement than individuals who were retired under a mandatory program. Data were gathered using a mailed questionnaire sent to retirees from seven companies in the United States and Canada. There were 1486 usable responses (a response rate of 58%), with slightly more than half, 763, indicating that they had retired voluntarily. Retirement satisfaction was measured using Smith, et al. Retirement Description Index (RDI). All four scales of the RDI, Finances, Health, People, and Activities, as well as a total satisfaction score showed significantly higher scores for the group who retired voluntarily. Explanation of the difference between the voluntary and mandatory retirees may be that voluntary retirees made more plans for retirement, had higher retirement incomes, and retired with a generally more favorable outlook toward old age and retirement. (Author)