TY  - JOUR
AU  - Allen,Steven G.
TI  - The Value of Phased Retirement
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10531
PY  - 2004
Y2  - May 2004
UR  - http://www.nber.org/papers/w10531
L1  - http://www.nber.org/papers/w10531.pdf
N1  - Author contact info:
Steven G. Allen
Jenkins Graduate School of Management
NC State University
2124 Nelson Hall
Raleigh, NC  27695-7229
Tel: 919/515-6941
Fax: 919/515-5073
E-Mail: STEVE_ALLEN@NCSU.EDU
AB  - This paper examines how phased retirement plans in higher education create value for both the institution and individual faculty, based upon evidence from the Survey of Changes in Faculty Retirement Policies and an in-depth case study of the University of North Carolina system. Faculty benefit by receiving improved opportunities for part-time work and by having the ability to make a smoother transition to retirement. The policy is clearly of great value to the 25 to 35 percent of UNC faculty who opt for phased over full retirement. The biggest payoff to the university is an increase in the odds that low-performing faculty will start the retirement process earlier. Universities also anticipate increased flexibility in managing faculty employment and compensation; phased retirement is most likely to be observed on campuses where a high percentage of faculty has tenure.
ER  -