Life-cycle theory suggests that workers would prefer to gradually enter retirement from their career jobs. Using data from 15 campuses of the University of North Carolina system, this study provides a first look at the effects of the introduction of a phased retirement program on faculty retirement decisions. The authors’ analysis indicates that most of the faculty members choosing phased retirement would have likely remained full-time at their universities if the phased retirement option had not been available.
Get full access to this article
View all access options for this article.
References
1.
Clark, Robert L.
and Linda S. Ghent. 2000. “Faculty Aging and Retirement Policies at the University of North Carolina.” Unpublished manuscript.
2.
Clark, Robert L.
, Linda S. Ghent, and Juanita Kreps. 2000. “Faculty Retirement and the Impact of the Elimination of Mandatory Retirement at Three North Carolina Universities.” Pp. 241-266 in To Retire or Not? Retirement Policy and Practice in Higher Education, edited by R. L. Clark and P. B. Hammond. Philadelphia: University of Pennsylvania Press.
3.
Clark, Robert L.
and M. Melinda Pitts. 1999. “Faculty Choice of a Pension Plan: Defined Benefit vs. Defined Contribution.”Industrial Relations38: 18-45.
4.
Greene, William H.2000. Econometric Analysis. 4th ed.Upper Saddle River, NJ: Prentice Hall.
5.
Hurd, Michael D.1996. “The Effect of Labor Market Rigidities on Older Workers.” Pp. 11-58 in Advances in the Economics of Aging, edited by D. A. Wise. Chicago: University of Chicago Press.
6.
Killingsworth, Mark
. 1983. Labor Supply. Cambridge, UK: Cambridge University Press.
7.
Quinn, Joseph
. 1999. “New Paths to Retirement.” Pp. 13-32 in Forecasting Retirement Needs and Retirement Wealth, edited by O. S. Mitchell, P. B. Hammond, and A. M. Rappaport. Philadelphia: University of Pennsylvania Press.
8.
Ruhm, Christopher J.1990. “Bridge Jobs and Partial Retirement.”Journal of Labor Economics8: 482-501.
9.
Watson Wyatt Worldwide
. 1999. Phased Retirement: Reshaping the End of Work. Bethesda, MD: Watson Wyatt Worldwide.
