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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 9779.
Date of creation: Jun 2003
Date of revision:
Note: AG LS
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Find related papers by JEL classification:
- J1 - Labor and Demographic Economics - - Demographic Economics
- J2 - Labor and Demographic Economics - - Demand and Supply of Labor
This paper has been announced in the following NEP Reports:
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.:
- Stock, James H & Wise, David A, 1990.
"Pensions, the Option Value of Work, and Retirement,"
Econometric Society, vol. 58(5), pages 1151-80, September.
- James H. Stock & David A. Wise, 1988. "Pensions, The Option Value of Work, and Retirement," NBER Working Papers 2686, National Bureau of Economic Research, Inc.
- Alan L. Gustman & Thomas L. Steinmeier, 1986.
"A Structural Retirement Model,"
NBER Working Papers
1237, National Bureau of Economic Research, Inc.
- Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
- 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.
- William Even & David Macpherson, 2004.
"Do Pensions Impede Phased Retirement?,"
Labor and Demography
- Robert Hutchens, 2007. "Phased Retirement: Problems and Prospects," Work Opportunity Briefs wob_8, Center for Retirement Research, revised Feb 2007.
- 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.
- 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).
- 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).
- Kenneth T. Whelan & Ronald G. Ehrenberg & Kevin F. Hallock & Ronald L. Seeber, 2011. "Adverse Selection and Incentives in an Early Retirement Program," NBER Working Papers 17538, National Bureau of Economic Research, Inc.
- Steven G. Allen, 2004. "The Value of Phased Retirement," NBER Working Papers 10531, National Bureau of Economic Research, Inc.
- John Pencavel, 2004. "Faculty Retirement Incentives by Colleges and Universities," Discussion Papers 03-028, Stanford Institute for Economic Policy Research.
- Wadensjö, Eskil, 2006. "Part-Time Pensions and Part-Time Work in Sweden," IZA Discussion Papers 2273, Institute for the Study of Labor (IZA).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.