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Phasing into retirement

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Author Info

  • Steven G. Allen
  • Robert L. Clark
  • Linda S. Ghent
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    Abstract

    To help workers navigate the transition from work to retirement more effectively, employers have been launching phased retirement programs, which allow older employees to work part-time and receive full retirement benefits. This paper examines the experience of the phased retirement system for tenured faculty in the University of North Carolina system over the years 1996-98. After phased retirement was introduced, there was a sizable increase in the overall separation rate in the system. The key finding from an empirical analysis of the retirement decision as a function of pension incentives, employee performance, demographics, and campus characteristics is that the odds of entering phased retirement were strongly and inversely related to employee performance, as measured by recent pay increases. (Free full-text download available at http://digitalcommons.ilr.cornell.edu/ilrreview/.)

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    Bibliographic Info

    Article provided by ILR Review, Cornell University, ILR School in its journal ILR Review.

    Volume (Year): 58 (2004)
    Issue (Month): 1 (October)
    Pages: 112-127

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    Handle: RePEc:ilr:articl:v:58:y:2004:i:1:p:112-127

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    Cited by:
    1. Lachowska, Marta & Sundén, Annika & Wadensjö, Eskil, 2009. "The Impact of a Phased Retirement Program: A Case Study," IZA Discussion Papers 4284, Institute for the Study of Labor (IZA).
    2. Whelan, Kenneth T. & Ehrenberg, Ronald G. & Hallock, Kevin F. & Seeber, Ronald L., 2011. "Adverse Selection and Incentives in an Early Retirement Program," IZA Discussion Papers 6055, Institute for the Study of Labor (IZA).
    3. Robert Hutchens, 2007. "Phased Retirement: Problems and Prospects," Work Opportunity Briefs wob_8, Center for Retirement Research, revised Feb 2007.
    4. Pettersson, Jan, 2011. "Instead of Bowling Alone? Unretirement of Old-Age Pensioners," Working Paper Series 2011:14, Uppsala University, Department of Economics.

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