Author: Alan L. Gustman
Publisher:
ISBN:
Category : College teachers
Languages : en
Pages : 42
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Book Description
A structural retirement model is estimated using data for tenured, male faculty employed in the 1970's at 26 high quality private colleges and universities. Simulations of raising and then abolishing the mandatory retirement age suggest very large increases in full time work by faculty members in their late 60's and early 70's. Simulations also suggest that early retirement incentive programs would offset only a small fraction of the increase in work due to changes in mandatory retirement, and that rents created by these programs exceed savings from induced early retirements, with salaries of replacements further adding to costs.
Author: Robert L. Clark
Publisher: University of Pennsylvania Press
ISBN: 1512821632
Category : Education
Languages : en
Pages : 187
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Book Description
Colleges and universities across the country face huge challenges as their faculties age, their budgets stagnate, and mandatory retirement becomes a thing of the past. In To Retire or Not? the nation's foremost authorities on retirement policy and practice provide a critical assessment of academic labor markets and retirement patterns, explaining how to adjust pension and other incentive programs to ensure proper replenishment of intellectual and human capital. Case studies vividly illustrate how to predict the need for special retirement programs, how to structure voluntary early-out benefit plans, and how age-based retirement incentives work in practice. Recent legal decisions are assessed and critiqued. A recent amendment to the U.S. Age Discrimination in Employment Act ended mandatory retirement for tenured faculty at colleges and universities across the country. This law let individual faculty members enjoy an economic benefit enjoyed by almost all other American workers: they could choose to continue working past age 70 or "sell" the benefit back to their universities in exchange for earlier retirement. At the same time, however, educational administrators were faced with a faculty bulge created by the expansion of the professorate in the 1960s and early '70s, and the so-called "surplus army" of Ph.D.s of the 1980s. Colleges and universities everywhere are now faced with the higher costs of retaining senior professors instead of hiring entry-level replacements at lower salaries.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309044987
Category : Social Science
Languages : en
Pages : 168
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Book Description
The proportion of older faculty is increasing nationwide. This book offers guidance not only for dealing with the elimination of mandatory retirement in higher education but also for current retirement-related issues facing all colleges and universities. Ending Mandatory Retirement addresses such questions as: Do the special circumstances of higher education warrant the continuation of mandatory retirement? How would an increase in the number of older faculty affect individual colleges and universities and their faculty members? Where there are undesirable effects, what could be done to minimize them? The book contains analyses of early retirement programs, faculty performance evaluation practices, pension and benefit policies, tenure policies, and faculty ages and retirement patterns.
Author: Alan L. Gustman
Publisher:
ISBN:
Category : College teachers
Languages : en
Pages : 34
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Book Description
Author:
Publisher:
ISBN:
Category : Electronic government information
Languages : en
Pages : 144
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Book Description
Author: Robert Louis Clark
Publisher: Edward Elgar Publishing
ISBN: 9781845425548
Category : Education
Languages : en
Pages : 328
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Book Description
[This book] provides tools and insights for university and college administrators to use when evaluating changes in retirement policy, and it presents valuable information in the form of case studies concerning changes in retention policies and retirement policies. Lisa M. Dickson, Industrial and Labor Relations Review This volume, a collection of papers presented at the 2004 TIAA-CREF Institute conference on higher education, contains many excellent chapters. John Heuer, Journal of Pension Economics and Finance This book enlightens the reader about two important policy issues, health care provision and retirement plans, by addressing both broad macro issues and specific concerns of higher education administrators. Such content is both valuable and practical for the concerned higher education researcher and administrator. Marc Kaulisch, The Review of Higher Education Attracting and retaining highly qualified faculty is essential to maintaining productivity at institutions of higher education. Colleges and universities are at a critical juncture in their history as they attempt to achieve their teaching and research goals. This volume examines some of the most pressing employment and compensation issues confronting academic administrators. Contributors discuss topics such as: ageing of faculty, changing economic conditions and shifts in faculty employment patterns, rapid increases in health care costs and trends in retiree health insurance, and adoption of phased and early retirement programs. The volume also includes a series of case studies on how individual universities are confronting these challenges. Institutions in these case studies include: Syracuse University, the University of North Carolina, the University of California, institutions in the Association of New American Colleges, and other colleges and universities included in several surveys and research projects. This timely volume will appeal to academic administrators at colleges and universities in the US and internationally as they face the common challenges of rising employment costs, faculty aging and global competition. Researchers interested in the future of higher education, economics, and the academic labor market in general will find this a valuable addition to their library.
Author: Alan L. Gustman
Publisher:
ISBN:
Category :
Languages : es
Pages : 17
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Book Description
Author: William G. Gale
Publisher: Rowman & Littlefield
ISBN: 9780815796428
Category : Business & Economics
Languages : en
Pages : 420
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Book Description
The private pension system, together with Social Security, has provided millions of Americans with income security in retirement. But over the past thirty years, pension coverage has stagnated, leaving behind some vulnerable groups. Defined contribution plans have exposed workers to greater investment risk, while cash balance and other hybrid plans may have adverse effects on older workers caught in the transition. Pension regulations, infamous for their complexity, can be bewildering to policy analysts and policymakers. Private Pensions and Public Policies sheds timely and much-needed light on specific issues within the broader context and framework of pension reform. Contributors focus on topics that must be addressed in any reform effort, including the effects of the shift in emphasis toward defined contribution plans (after the 1974 Employee Retirement Income and Security Act) and hybrid plans (from the 1990s); regulatory issues such as nondiscrimination rules and contribution limits; how to increase the information available to participants and improve financial education; how participants in defined contribution plans make choices on questions such as asset allocation, back-loaded versus front-loaded saving, and annuities versus lump sum distributions; and the interaction of the private pension system with Social Security. Contributors include Robert L. Clark (North Carolina State University), Sylvester J. Schieber (Watson Wyatt Worldwide), Richard A. Ippolito (George Mason University School of Law), Alan L. Gustman (Dartmouth College), Thomas L. Steinmeier (Texas Tech University), John Karl Scholz (University of Wisconsin), Dean M. Maki, (JPMorgan Chase), William Even (Miami University of Ohio), Jagadeesh Gokhale (American Enterprise Institute), Laurence J. Kotlikoff (Boston University), Mark J. Warshawsky (TIAA-CREF Institute), Annika Sunden (Boston College), Andrew A. Samwick (Dartmouth College), David A. Wise (Harvard University), Joel Dickson (T
Author: Valerie Martin Colnley
Publisher: Jossey-Bass
ISBN:
Category : Education
Languages : en
Pages : 100
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Book Description
This volume explores all aspects of phased retirement, an option that provides flexibility for faculty who intend to retire but may have good reason to do so gradually instead of all at once. It is well known now that colleges and universities can no longer tell faculty when they must retire. Instead, faculty can now tell their institutions when they will stop working. For years prior to 1994, the impending federal abolition of mandatory retirement caused colleges and universities to worry that faculty might choose never to retire. The specter of an infinitely aging and increasingly costly gerontocracy ruling the classrooms, labs, and committee structures of universities led to varied experiments with incentives and inducements to make retirement attractive to faculty members. This volume looks at how one of these newer options, phased retirement, works. New Ways to Phase Into Retirement is the 132nd issue of the quarterly higher education report New Directions for Higher Education, published by Jossey-Bass.
Author: Albert Rees
Publisher: Princeton University Press
ISBN: 1400862469
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
In 1986 the Age Discrimination in Employment Act (ADEA) was amended to abolish mandatory retirement for tenured faculty members in colleges and universities effective January 1, 1994. Will this "uncapping" of the retirement age adversely affect the vitality of academic departments or the prospects of advancement for younger scholars? In a definitive study of faculty retirement in the arts and sciences, Albert Rees and Sharon Smith seek to answer this question. Basing their conclusions on original data collected from thirty-three colleges and universities, they do much to resolve an issue that is a frequent subject of discussion in the academic world and in the press. Rees and Smith reveal that the ending of mandatory retirement will have much smaller effects than those generally anticipated--so small that there is no justification for efforts to have Congress continue exempting faculty members from the ADEA past 1994, the date that the exemption is now due to expire. In addition to their data on retirement patterns, the authors make use of surveys of senior faculty and retired faculty to explore attitudes toward retirement. Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
