Phasing Into Retirement
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.
|Date of creation:||Jun 2003|
|Date of revision:|
|Publication status:||published as Allen, Steven G., Robert L. Clark and Linda S. Ghent. "Phasing Into Retirement," Industrial and Labor Relations Review, 2004, v58(1,Oct), 112-127.|
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- 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.
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