Flexible retirement policies have worked very well for four major United States corporations, accordinq to testimony of their executives during the second part of a U.S. Senate hearing on work after age 65, conducted in Washington, D.C., in May, 1980. Executives of Xerox, Polaroid, Bankers Life and Casualty, and Atlantic Richfield told the special committee on aging that their companies have a 15-year span--from 55 to 70 and beyond--during which employees can choose to retire. The executives said that in most cases the best, most productive workers were the ones who chose to stay the longest; thus, not having mandatory retirement was helpful for the companies. The company officials also commented that older workers had records of absences that were as good as or better than those of younger workers, and much better safety records. The hearing record also includes testimony about the needs of older workers and the future needs of the marketplace for older workers by Senators Lawton Chiles, Charles Percy, John Glenn, David Pryor, and John Melcher. In addition, reports of various task forces and surveys relating to older workers and retirement are appended to the document. (KC)