The Effects of Pensions and Retirement Policies on Retirement in Higher Education
AbstractA structural retirement model is estimated using data for tenured, male faculty employed in the 1970's at 26 high quality private colleges and universities. Simulations of raising and then abolishing the mandatory retirement age suggest very large increases in full time work by faculty members in their late 60's and early 70's. Simulations also suggest that early retirement incentive programs would offset only a small fraction of the increase in work due to changes in mandatory retirement, and that rents created by these programs exceed savings from induced early retirements, with salaries of replacements further adding to costs.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3593.
Date of creation: Jan 1991
Date of revision:
Publication status: published as The American Economic Review, Vol. 81, No. 2, pp. 111-115, (May 1991).
Note: AG LS
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Other versions of this item:
- Gustman, Alan L & Steinmeier, Thomas L, 1991. "The Effects of Pensions and Retirement Policies on Retirement in Higher Education," American Economic Review, American Economic Association, vol. 81(2), pages 111-15, May.
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.:
- Gary S. Fields & Olivia S. Mitchell, 1984. "Retirement, Pensions, and Social Security," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262060914, December.
- Alan L. Gustman & Thomas L. Steinmeier, 1983.
"A Structural Retirement Model,"
NBER Working Papers
1237, National Bureau of Economic Research, Inc.
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