TY  - JOUR
AU  - Allen,Steven G.
AU  - Clark,Robert L.
AU  - Ghent,Linda S.
TI  - Phasing Into Retirement
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 9779
PY  - 2003
Y2  - June 2003
UR  - http://www.nber.org/papers/w9779
L1  - http://www.nber.org/papers/w9779.pdf
N1  - Author contact info:
Steven G. Allen
Jenkins Graduate School of Management
NC State University
2124 Nelson Hall
P.O.Box 7229
Raleigh, NC  27695-7229
Tel: 919/515-6941
Fax: 919/515-5073
E-Mail: steve_allen@ncsu.edu
AB  - Employers have been launching phased retirement programs to help workers navigate the transition from work to retirement more effectively. This paper examines the experience of the phased retirement system for tenured faculty in the University of North Carolina system. After phased retirement was introduced, there was a sizable increase in the overall separation rate in the system. A multinomial logit model of the retirement decision as a function of pension incentives, employee performance, demographics, and campus characteristics is developed. The key empirical result is that the odds of entering phased retirement are strongly and inversely related to employee performance, as measured by recent pay increases.
ER  -