Aging may be associated with an increase in generalized text processing, particularly in adults older than 75 years. The current study examined text comprehension in young, young-old, and old-old adults. Experiment 1 included a comprehension measure (product) and Experiment 2 examined inferences generated during reading (process). Comprehension scores were lowest in old-old adults. Generalized and elaborative inference scores were highest in old-old adults. Participants over 65 years with the lowest scores on cognitive integrity variables also had significantly lower comprehension scores, but there was no effect of cognitive integrity on inference scores. This dissociation suggests that inferential processes may be maintained even when cognitive integrity and comprehension declines are present. Relevance to cognitive aging theories addressing text processing and self-regulatory processes is addressed.