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ERIC Number: ED338170
Record Type: Non-Journal
Publication Date: 1991
Pages: 9
Abstractor: N/A
Reference Count: N/A
Early Retirement: The Cost to Canadian Universities.
Jefferson, Anne L.
A study examined effects of early retirement plans (ERP) at Canadian Universities. In response to current conditions within Canadian universities and a Canadian Supreme Court decision upholding mandatory retirement requirements, many universities have sought to encourage faculty retirement through ERPs. In order to study the cost of such programs, a survey was distributed to 58 Canadian universities. Twenty-seven institutions responded and of those 14 (24 percent) had ERP in place and operating long enough to participate in the study. Although this number was low, the institutions were representative. Results indicated that only one institution found the plan to be of greater financial cost than anticipated. Only two institutions found their ERP less of a financial burden than initially anticipated due to few faculty opting for the more expensive options and performance of investment being greater than anticipated. Few institutions were able or willing to specifically state the added expense of their ERP but those that did listed the following as added expenses: (1) payroll taxes; (2) use of savings for increased operating expenses; and (3) potential cost in university pension plan. Overall, most respondents believed that the predicted costs and savings of early retirement plans were borne out in practice. Six references and an appendix containing four sample survey questions are included. (JB)
Publication Type: Reports - Research
Education Level: N/A
Audience: Policymakers
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Canada