College and university employees are exposed to considerable risk in the management of their retirement funds, but there are also extraordinary opportunities for careful investors. Colleges should help employees gain knowledge of investing and ensure that a broad range of adequate investment options are available. (MSE)

College administrators have an obligation to educate faculty and staff as consumers of retirement plan services. Employers can face liability if they limit plan participation to overly restrictive investment alternatives. A task force representing employees should be appointed to make vendor selections. (MSE)

In retirement planning, the college or university human resources manager is positioned as representative of both the college administration, which has a simple legal obligation to employees, and employees, who must plan for financial security and independence. This administrator can affect employees' financial well-being by effective retirement…

The uncapping of college faculty retirement age in 1994 has implications for tenure, retirement programs, and potential for age discrimination litigation. Institutions should carefully examine the probable impact of the change on the quality of their academic programs and financial situation and develop contingency plans as early as possible. (MSE)