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Did the Elimination of Mandatory Retirement Affect Faculty Retirement?

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Author Info
Orley Ashenfelter
David Card

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Abstract

A special exemption from the 1986 Age Discrimination Act allowed colleges and universities to enforce mandatory retirement of faculty at age 70 until 1994. We construct a survey that permits us to compare faculty turnover rates before and after the law changed at a large sample of institutions with defined contribution pension plans. After the elimination of compulsory retirement the retirement rates of 70- and 71-year-olds fell by two-thirds and were comparable to rates of 69-year-olds. These findings indicate that U.S. colleges and universities will experience a rise in the number of older faculty over the coming years. (JEL J26, I21)

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File URL: http://hdl.handle.net/10.1257/00028280260344542
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File URL: http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=92&issue=4&article=11&issue_date=September2002
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Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 92 (2002)
Issue (Month): 4 (September)
Pages: 957-980
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Handle: RePEc:aea:aecrev:v:92:y:2002:i:4:p:957-980

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  1. Ashenfelter, Orley & Card, David, 2001. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement Flows?," IZA Discussion Papers 402, Institute for the Study of Labor (IZA). [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Joanna Lahey, 2006. "How Do Age Discrimination Laws Affect Older Workers?," Work Opportunity Briefs wob_5, Center for Retirement Research, revised Oct 2006. [Downloadable!]
  2. Montizaan Raymond & Coervers Frank & Grip Andries de, 2007. "Training and early Retirement," Research Memoranda 002, Maastricht : ROA, Research Centre for Education and the Labour Market. [Downloadable!]
  3. Morten L. Bech & Bart Hobijn, 2006. "Technology diffusion within central banking: the case of real-time gross settlement," Staff Reports 260, Federal Reserve Bank of New York. [Downloadable!]
    Other versions:
  4. Ashenfelter, Orley & Card, David, 2001. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement Flows?," IZA Discussion Papers 402, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  5. Steven Haider & David Loughran, 2002. "Elderly Labor Supply: Work Or Play?," Working Papers, Center for Retirement Research at Boston College 2001-04, Center for Retirement Research. [Downloadable!]
    Other versions:
  6. Martins, Pedro S. & Novo, Álvaro A. & Portugal, Pedro, 2009. "Increasing the Legal Retirement Age: The Impact on Wages, Worker Flows and Firm Performance," IZA Discussion Papers 4187, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Worswick, Chris, 2005. "Règles relatives à la retraite obligatoire et décisions de retraite des professeurs d'université au Canada," Direction des études analytiques : documents de recherche 2005271f, Statistics Canada, Direction des études analytiques. [Downloadable!]
  8. Montizaan, Raymond & Cörvers, Frank & de Grip, Andries, 2008. "Training Background and Early Retirement," IZA Discussion Papers 3504, Institute for the Study of Labor (IZA). [Downloadable!]
  9. Worswick, Chris, 2005. "Mandatory Retirement Rules and Retirement Decisions of University Professors in Canada," Analytical Studies Branch Research Paper Series 2005271e, Statistics Canada, Analytical Studies Branch. [Downloadable!]
  10. David Card & Michael Ransom, 2007. "Pension Plan Characteristics and Framing Effects in Employee Savings Behavior," NBER Working Papers 13275, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  11. David Neumark, 2001. "Age Discrimination Legislation in the United States," NBER Working Papers 8152, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
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