Institutions must provide good counseling regarding retirement program benefits, since when in doubt about their financial position faculty members are inclined to remain employed. Colleges should consider offering nonfinancial incentives for early retirement as well as financial. (MLW)

The University of Virginia's retirement incentive program for older, full-time, tenured faculty provided two options: phased retirement and a retirement decision contract establishing a firm retirement date. Evaluation indicates this plan was effective in meeting the interests and needs of participants and the institution and saved institutional…

Discussion of college faculty retirement benefits looks at trends in early and delayed retirement among faculty and the general population, public policy affecting retirement, a study of college pension plans, and a survey on retiree health benefits. Development of organizational climate where retirement is viewed as normal and attractive is…

Changes in retirement patterns at colleges and universities can be expected because of demographic reasons and because of federal and state legislation uncapping mandatory retirement. Institutional policies that will encourage reluctant older faculty to retire need to address the three fundamental components of successful employee retirement: (1)…

Some practical approaches to implementing preretirement education programs for personnel at public research universities are offered, based on a program developed at Ohio University. Preretirement program goals are to educate employees about the critical components in retirement planning and to provide unbiased and impartial resource information…

The new financial environment for retirement emerging in the 1980s is marked by increased individual responsibility for financial well-being, a changed workforce, and the need to contain costs. The trend will be away from the group approach and toward cafeteria-style benefit programs, providing greater freedom of benefit choice. (MSE)

Effective personal financial planning results in sound decisions in the areas of insurance, accumulating capital, retirement planning, and tax planning. Appropriate financial planning concerns everyone--regardless of his or her stage in life. (MLW)

Strategic benefit planning is a management process that establishes overall objectives that form the basis for decision making on all elements of indirect compensation. The Tax Reform Act of 1986 and implications to tax-sheltered annuities are discussed. An example of a statement of university policy on employee benefits is appended. (MLW)

New federal laws and regulations, particularly non-discrimination rules, concerning welfare plans, fringe benefits, and tax-sheltered annuities are examined, and new law and regulatory developments concerning pensions are highlighted. (MSE)

Health Maintenance Organization (HMO) "risk contracts," under which HMOs cover Medicare-eligible individuals, are explained; and the costs, benefits, and coverage are compared with those of other managed care options. Employers with retiree medical plans are encouraged to consider using HMO risk contracts for both short- and long-term…

Information on retirement investment planning is provided for college and university human resource managers, focusing on what employees need to know about maximizing contributions to the 403(b) plan without becoming liable for penalties for excessive savings. Calculations are explained and illustrated with a hypothetical case and data charts.…

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…

For those institutions endeavoring to increase the likelihood of older workers' leaving, a diversified set of retirement options is suggested. Many employers are offering an interim period of part-time employment before final retirement. Evaluations should not be used to drive employees into retirement. (MLW)

The administration of a comprehensive fringe benefits program at the University of Florida, a large institution with about 11,000 faculty, support, and administrative and professional employees, is described. Topics examined include the benefits office function, retirement, obstacles in program administration and information dissemination, special…

Important elements of personal lifetime money management are outlined and discussed briefly, particularly as they apply to college and university faculty and staff. They include insurance (disability, health, life, retirement income); the changing monetary environment; taxes; inflation; sources of income; budgeting; risk; death and heirs. (MSE)