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)

To offset declining enrollments, financial constraints, younger faculties, and high tenure ratios, some institutions are considering early retirement programs to facilitate faculty turnover. A University of Virginia faculty committee reviewed several early retirement options and selected a cost-effective bridging program with ample incentives and…

The 1986 amendments to the Age Discrimination in Employment Act and tax reforms from that year will require changes in retirement policies in higher education, especially pension plans, because of the extension of nondiscrimination rules to all tax-deferred annuities. (Author/MSE)

Between 1965 and 1975, over 500 community colleges opened across the United States. Thirty-five years later, the founding faculty has begun to retire. This study was designed to reveal the experiences of veteran community college faculty as they left their teaching role. The study examined the role exit experience of faculty, comparing the…

Although even a few years ago researchers were suggesting that faculty aging and the resulting retirements would result in a huge demand for new hires, job opportunities have become scarce for recent graduates of doctoral programs. It is important, however, that colleges be able to hire new personnel to bring new ideas into the institution. In…

An incentive early retirement program is an arrangement between employer and employee that provides tangible inducement or reward for voluntary early retirement. It may be a formal program or an ad hoc agreement negotiated with the institution. The most common incentives include severance pay, liberalized actuarial reduction, annuity enhancements,…

Uncapping the mandatory retirement age is unlikely to alter retirement age by much, but it will lead to substantially higher pensions for faculty members who continue to work. Institutions must monitor retirement-age behavior in order to restructure pension and other benefits appropriately to meet income and retirement objectives. (Author/MSE)

Colleges are both concerned about the effects of lifting the mandatory faculty retirement lid and interested in retaining the services of valued faculty. As a result, many are offering retiring teachers perquisites such as office and laboratory space, secretarial services, and opportunities to teach and advise part-time. (MSE)

This analysis of retirement planning and early retirement incentive plans in Illinois community colleges was drawn from a study of early retirement plans at each of the state's 39 community colleges, and a follow-up survey to clarify information in the documents and determine colleges' plans for the future. After introductory comments on the issue…

Between April 29 and December 31, 1982, 244 community college employees in Washington retired. Of that group, 85 exercised an option to retire under a special early retirement program enacted by the 1982 state legislature. The net effect of the early retirement program was a 53.4% increase in the number of retirements over the number that might…

This background paper summarizes the design of a faculty early retirement plan at Stanford University. Summary and recommendations indicate: (1) Budgetary stringencies at Stanford require that the faculty size remain essentially fixed. In view of this situation, a properly designed early retirement program should be adopted as a means of…

Faculty members should consider becoming more involved in the oversight of their personal retirement funds. Both price and inflation risks are best controlled by taking a balanced or diversified approach to investing, with a portfolio based on a predetermined percentage of each type of investment. (MSE)

A survey of current early retirement programs and faculty age distributions was conducted among 23 colleges in the Consortium on Financing Higher Education and 13 universities in the Association of American Universities. Tabular data and narrative descriptions are presented in two major sections. The first section presents data on the number of…

The purpose of this report is to present findings and recommendations of the Joint Committee on Higher Education in the state of Washington. The specific mandate of the Committee in this instance was to study the retirement programs currently in force at the various state institutions of higher education and to make any necessary recommendations…

Greater attention has been focused on the role that employer-sponsored retirement plans and individual savings must play in ensuring retirement income security. Alternative tax retirement planning opportunities currently available to college personnel are explored. (MLW)