A model for correct recall and intrusions in cued recall of word lists is introduced. Intrusions are false responses that were correct in an earlier list. The model assumes 3 exclusive states for memory traces after encoding: with a list tag (i.e., with information about list origin), without list tags, and missing. Across lists, a trace can lose its list tag or its content. For retrieval, an optimal strategy of response selection was assumed. Younger and older laboratory-trained mnemonists participated in 2 experiments in which recall of permutations of a single word list across a single set of cues was held constant with individually adjusted presentation times. With correct recall equated to younger adults, older adults were more susceptible to intrusions. Age differences were restricted to model parameters estimating the probability of generation of list tags. Alternative accounts of age differences in context memory are discussed.