Every time Fran Baxter-Guigli crunches the numbers, she comes up with the same result: She can't afford to retire yet, even though she'd like to.

"I'm grateful to have a good job," said Baxter-Guigli, 58, development operations director for California State University, Sacramento. "I've worked for 30 years and have not had a bad day. I know how lucky I am.

"But I'm tired."

Like her, many older baby boomers are not yet ready for full-fledged retirement. A wide range of workplace-related research shows two main themes behind their reasons for continued employment: Many like the sense of being engaged in the productive world, but most quite simply need the money and benefits.

But gosh, they'd like to slow down.

"Oh, man, I sure would," said Baxter-Guigli.

For her, the state's mandated two furlough days each month for CSU employees provide the breathing room she needs, a way to downshift toward the retirement she can't yet afford.

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