ERIC Number: ED203802
Record Type: RIE
Publication Date: 1981-Mar
Reference Count: 0
Early Retirement in Higher Education. ASHE Annual Meeting 1981 Paper.
Mitchell, Barbara A.
Information concerning early retirement in colleges and universities was obtained through a faculty survey, prediction of rates of retirement and costs under three plans, computer simulations of faculty turnover rates, and faculty/administrator opinions and data pertaining to the implications of specific plans. In 1980, 647 faculty 45 years old and older in seven institutions of the Oregon State System of Higher Education were surveyed to determine the following: ideal or preferred age of retirement versus realistic or expected age of retirement and reasons for these choices; the preferred plan of three options; and retirement age each respondent might expect under each of the three options. Survey responses indicate that the three most important conditions that would allow faculty to retire at their ideal age are additional pay, insurance, and part-time employment. Response differences related to age, sex, rank, type of institution, subject area, years of employment in the system, feelings toward retirement, and adequacy of financial planning for retirement are considered. Of the three early retirement plans, 43 percent of respondents preferred the Public Employees Retirement System, 28 percent preferred a plan allowing part-time employment, and 11 percent preferred an income supplement annuity plan. Based on survey data, probabilities of early retirement for the three plans and ideal age were developed for two institutions, and faculty flow modeling was projected for a 20-year period. Cost analyses revealed that the Public Employees Retirement System plan generates the most savings. Implications of the early retirement plans in terms of retirement income level, and administrative, legal, political, and market feasibility are also addressed. A bibliography is appended. (SW)
Publication Type: Speeches/Meeting Papers; Reports - Research
Education Level: N/A
Authoring Institution: N/A
Identifiers: ASHE Annual Meeting; Early Retirement; Oregon
Note: Paper presented at the Annual Meeting of the Association for the Study of Higher Education (Washington, DC, March 3-4, 1981).