One other thing, with the boomers being born from 1946-1964, if they retire at 65 wouldn’t the retirement boom be 2011-2029? 1993 would have been age 47 for the oldest boomer. That doesn’t seem reasonable to me.
That's right, spotted my math error & corrected the graph. We're still seeing the boomer retirement as not explaining the sudden drop in '09. Probably what we got is demographic and cultural forces controlling trends over decades and economic forces governing over months.