Working Paper: NBER ID: w10531
Authors: Steven G. Allen
Abstract: This paper examines how phased retirement plans in higher education create value for both the institution and individual faculty, based upon evidence from the Survey of Changes in Faculty Retirement Policies and an in-depth case study of the University of North Carolina system. Faculty benefit by receiving improved opportunities for part-time work and by having the ability to make a smoother transition to retirement. The policy is clearly of great value to the 25 to 35 percent of UNC faculty who opt for phased over full retirement. The biggest payoff to the university is an increase in the odds that low-performing faculty will start the retirement process earlier. Universities also anticipate increased flexibility in managing faculty employment and compensation; phased retirement is most likely to be observed on campuses where a high percentage of faculty has tenure.
Keywords: No keywords provided
JEL Codes: J2; J4
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Phased retirement (J26) | earlier retirement process for low-performing faculty (J26) |
| Phased retirement (J26) | flexibility in managing faculty employment and compensation (M52) |
| Phased retirement (J26) | smoother transitions into retirement and improved part-time work opportunities (J26) |
| Phased retirement (J26) | improved succession planning within institutions (O35) |