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Did the Elimination of Mandatory Retirement Affect Faculty Retirement Flows?

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  • Orley Ashenfelter
  • David Card

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 compare faculty turnover rates at a large sample of institutions before and after the federal law change, and at a set of institutions that were covered by earlier state laws prohibiting compulsory retirement. Retirement rates at institutions that enforced mandatory retirement exhibited sharp 'spikes' at ages 70 and 71. About 90 percent of professors who were still teaching at age 70 retired within two years. After the elimination of compulsory retirement the retirement rates of 70 and 71-year-olds fell to levels comparable to 69-year-olds, and over one-half of 70-year-olds were still teaching two years later. These findings indicate that U.S. colleges and universities will experience a rise in the number of older faculty over the coming years. The increase is likely to be larger at private research universities, where a higher fraction of faculty has traditionally remained at work until age 70.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8378.

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Date of creation: Jul 2001
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Publication status: published as Ashenfelter, Orley and David Card. "Did The Elimination Of Mandatory Retirement Affect Faculty Retirement?," American Economic Review, 2002, v92(4,Sep), 957-980.
Handle: RePEc:nbr:nberwo:8378

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  1. Robin L. Lumsdaine & Olivia S. Mitchell, . "New Developments in the Economic Analysis of Retirement," Pension Research Council Working Papers 98-8, Wharton School Pension Research Council, University of Pennsylvania.
  2. Orley Ashenfelter & David Card, 2000. "How Did the Elimination of Mandatory Retirement Affect Faculty Retirement?," Working Papers 827, Princeton University, Department of Economics, Industrial Relations Section..
  3. 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).
  4. repec:fth:prinin:448 is not listed on IDEAS
  5. Orley Ashenfelter & David Card, 2002. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement?," American Economic Review, American Economic Association, vol. 92(4), pages 957-980, September.
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Cited by:
  1. Orley Ashenfelter & David Card, 2001. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement Flows?," NBER Working Papers 8378, National Bureau of Economic Research, Inc.
  2. 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.
  3. Orley Ashenfelter & David Card, 2002. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement?," American Economic Review, American Economic Association, vol. 92(4), pages 957-980, September.
  4. Avner Ahituv & Joeph Zeira, . "Technical Progress and Early Retirement," Working Papers 0801, University of Crete, Department of Economics.
  5. David Neumark, 2003. "Age Discrimination Legislation in the United States," Contemporary Economic Policy, Western Economic Association International, vol. 21(3), pages 297-317, 07.

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