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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

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.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 9779.

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Date of creation: Jun 2003
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Handle: RePEc:nbr:nberwo:9779

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Find related papers by JEL classification:
J1 - Labor and Demographic Economics - - Demographic Economics
J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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References listed on IDEAS
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. Alan L. Gustman & Thomas L. Steinmeier, 1986. "A Structural Retirement Model," NBER Working Papers 1237, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Gustman, Alan L & Steinmeier, Thomas L, 1986. "A Structural Retirement Model," Econometrica, Econometric Society, vol. 54(3), pages 555-84, May. [Downloadable!] (restricted)
  3. Ippolito, Richard A, 1985. "The Labor Contract and True Economic Pension Liabilities," American Economic Review, American Economic Association, vol. 75(5), pages 1031-43, December. [Downloadable!] (restricted)
  4. Stock, James H & Wise, David A, 1990. "Pensions, the Option Value of Work, and Retirement," Econometrica, Econometric Society, vol. 58(5), pages 1151-80, September. [Downloadable!] (restricted)
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  5. Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Cited by:
(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. Eskil Wadensjö, 2006. "Part-Time Pensions and Part-Time Work in Sweden," IZA Discussion Papers 2273, Institute for the Study of Labor (IZA). [Downloadable!]
  2. Robert Hutchens, 2007. "Phased Retirement: Problems and Prospects," Work Opportunity Briefs wob_8, Center for Retirement Research, revised Feb 2007. [Downloadable!]
  3. Even, William E. & Macpherson, David A., 2004. "Do Pensions Impede Phased Retirement?," IZA Discussion Papers 1353, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  4. Jeff Borland, 2005. "Transitions to Retirement: A Review," Melbourne Institute Working Paper Series wp2005n03, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
  5. Steven G. Allen, 2004. "The Value of Phased Retirement," NBER Working Papers 10531, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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