Teachers in Puerto Rico are more than just educators--they serve as mentors and guides and play a significant role in shaping their students' lives as they lead them towards transformative changes. As teachers consider transitioning from their jobs to other objectives outside the academic field, they must prioritize their students' best interests.…

The growing fiscal cost of K-12 teacher pension plans and pension-induced labor market distortions have led to calls for teacher pension reforms. Dynamic structural econometric models are a useful way to analyze the fiscal and staffing consequences of current and alternative retirement plans. This article lays out the benefits of the structural…

Retirement benefits for faculty are an important, but relatively understudied, topic in postsecondary education. To date, there have been very few studies that have used qualitative research methods to examine how workers make financial decisions about retirement, and no qualitative investigations of faculty choice between DB and DC plans. To help…

Background: Despite being an important component of teacher compensation, government-sponsored teacher pensions are only 72 percent funded on average and have total unfunded liabilities exceeding $600 billion nationally (McGee, 2019; Novy-Marx & Rauh, 2011; "Public Plans Data," 2020). Annual per pupil teacher retirement costs account…

Imputation or likelihood-based approaches to handle missing data assume the data are missing completely at random (MCAR) or missing at random (MAR). However, little research has examined the missingness pattern before using these imputation/likelihood methods. Three missingness mechanisms -- MCAR, MAR, and not missing at random (NMAR) -- can be…

This study examined the association between financial literacy and the decision to withdraw funds from different types of retirement accounts before retirement. Data from the 2012 and 2015 National Financial Capability Study were used to investigate if financial literacy may potentially influence the decision to dissave from funds already set…

For the last two decades, Ohio has given its new public school teachers choices among retirement plans. Early in their employment, they are handed a form that allows them to opt for a traditional pension plan, a 401(k)-style defined-contribution (DC) plan, or a plan that combines elements of each. If they make no affirmative decision at all--that…

An increasing number of individuals will be unable to retire comfortably amidst an international retirement savings crisis. Research suggests that behavioral factors contribute to inadequate retirement savings. We present a procedure that reframes the retirement savings decision, aimed at alleviating some of the negative effects of the behavioral…

Most private sector employees have access to defined contribution retirement plans while public sector employees often may choose defined benefit or defined contribution plans. This research utilized a survey of faculty to analyze retirement plan satisfaction. Advice from a financial planner was positively associated with satisfaction with…

With the growth of the older population due to longer life spans and a decline in birth rates, older adults will soon outnumber the younger population worldwide. One out of five workers in the United States reaches retirement age each day. This phenomenon has begun to cause a strain on Social Security funding and healthcare funding for those over…

As defined contribution (DC) plans become more popular than defined benefit (DB) plans, American workers are increasingly responsible for their retirement savings. Because retirement plan participants' portfolio allocation is constrained by the available funds in the plan, the construction of a plan's investment menu has become extremely…

Recent reports confirm that the European Higher Education Area is conditioning the satisfaction of Spanish faculty members, resulting in a greater number of early retirements. The present study, framed within the context of the research, development and innovation project 'Fuga de Talentos: Un estudio sobre los motivos que han condicionado a…

Public pension systems in many U.S. states face large funding short-falls, and policymakers have considered moving toward defined contribution (DC) pension structures in the interest of reducing the likelihood of future shortfalls. Concerns exist, however, that such changes might increase levels of employee turnover. The empirical evidence on the…

Purpose: This study examines the deployment of excellent retired principals (ERPs) as system leaders to facilitate systemic professional capital building in Taipei City, Taiwan. It explores the unique approach of the Taipei City government and contributions of ERPs in driving educational reforms. Design/methodology/approach: This study combines…

Background: As part of a larger study exploring the transition to retirement for people with intellectual disability from a working life in mainstream employment, this paper reports on retirement from the perspective of those who have already retired. Method: Semi-structured interviews were undertaken with five Australian retirees with…