In a study (N = 61) comparing older (age range = 60-80 years, M = 67) and younger (age range = 20-33 years, M = 25) people, age deficits were observed in working memory, perceptual speed, and central executive functioning but not in phonological loop functioning. Controlling for age differences in central executive performance removed over 50% of the age-related variance in working memory span. However, controlling for perceptual speed removed all of the age-related variance in working memory span. In addition, age differences in central executive functioning were largely eliminated after controlling for age deficits in perceptual speed. These findings suggest that age differences in central executive functioning are primarily attributable to a general slowdown in the rate at which information is activated within the working memory system and that no specific deficits in the central executive occur as a consequence of aging.