While the pension plan landscape has changed remarkably over the last two decades, with most private-sector workers seeing a shift from defined benefit (DB) to defined contribution (DC) plans, DB pension plans remain the overwhelming norm for K-12 teachers employed by state and local governments. With DB plans, teachers typically receive minimal…

This issue of "Legislative Review" takes a look at the news in higher education from February 14 to 18, 2011. This Legislative Review reports that: (1) HB 1003, the University System budget bill, was amended by House Appropriations, Education and Environment Division, February 17 and approved as amended by the full House Appropriations…

The present article organizes prominent theories about retirement decision making around three different types of thinking about retirement: imagining the possibility of retirement, assessing when it is time to let go of long-held jobs, and putting concrete plans for retirement into action at present. It also highlights important directions for…

Many commentators have noted that the 2010 Supreme Court term was without the "fireworks" of recent years and, therefore, this year the Court garnered limited media attention and national interest. Contributing to this limited attention was the fact that the term ended with no retirements or looming confirmation battles. In addition, the term's…

The basic currency of higher education--the credit hour--represents the root of many problems plaguing America's higher education system: the practice of measuring time rather than learning. "Cracking the Credit Hour" traces the history of this time-based unit, from the days of Andrew Carnegie to recent federal efforts to define a credit…

On Dec. 1, Nick Penning, a longtime fixture on the advocacy team at the American Association of School Administrators (AASA), retired as the association's senior legislative analyst. In his 26 years with the association, Penning played many roles relating to advocacy, but the one he relished the most was serving as the principal communicator with…

For today's older adults, retirement means adventure, travel, volunteering, and second careers, options that parents and grandparents never had even considered. One reason for this change in attitude is the increase in the lifespan (for both men and women) over the past decades. In 1950, for example, the average life expectancy was 70.8 years; by…

This paper is about the funding status of teachers' retirement pension schemes. Its goal is to relate the accounting for the funding of these pension obligations to the endemic, systematic, and fundamentally fraudulent system of accounting our country uses to assess the financial positions of federal, state, and local government as well as many…

For this special edition on "Higher Education Careers," "Diverse" caught up with some legends whose careers have made an indelible impact on the academy. "Diverse" found that even in retirement, or semi-retirement, these pioneers never venture far from the passions that made them great educators and diversity advocates. This article features four…

The time value of money (TVM) is required knowledge for all business students. It is traditionally taught in finance and accounting classes for use in various applications in the business curriculum. These concepts are also very useful in real life situations such as calculating the amount to save for retirement. This paper details a retirement…

What is an emeritus professor? The emeritus role means different things at different colleges and universities, but generally it has an elusive, ambiguous quality. It may simply mean that a professor has retired with an honorific title acknowledging many years of service to an institution. Or it may mean that a senior professor has transitioned to…

Veteran educators are being encouraged to take early retirement in order to create jobs for less-experienced, lower-paid novices. Veteran educators are not alone: early retirement promotions have become the norm for aging workers in America. Consequently, there is a brain-drain of skilled workers at the national, state, and local levels. The early…

The Foundation for Educational Choice and the Manhattan Institute recently commissioned a new study to examine the emerging crisis of underfunding public teacher pension plans in the states. The implications for public policy will likely be severe in the coming years. Public funding for K-12 education, and the potential for new reforms hang in the…

School business officials kept a close watch on the financial markets this week--and on district investment portfolios and teacher-retirement funds--as stock prices gyrated and once-sound institutions got government bailouts or crumbled into bankruptcy. While financial observers said it was too soon to predict how Wall Street's upheaval might…

Many people are ambivalent about retirement. The authors begins this article with a set of bullets describing several reasons for retiring. They then offer ten suggestions for retirees that may help them not only with navigating through the retirement process but also with adjusting to their new position and status. The authors then conclude with…