Phasing Into Retirement
AbstractEmployers 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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Date of creation: Jun 2003
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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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