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How Did the Elimination of Mandatory Retirement Affect Faculty Retirement?

Author

Listed:
  • Orley Ashenfelter

    (Princeton University and NBER)

  • David Card

    (University of California, Berkeley and NBER)

Abstract

We use information on retirement flows over the 1986-96 period for older faculty at a large sample of four year colleges and universities to measure the effect of the elimination of mandatory retirement. Comparisons of retirement rates before and after 1994, when most institutions were forced to stop mandatory retirement, suggest that the abolition of compulsory retirement led to a dramatic drop in retirement rates at ages 70 and 71. Comparisons of retirement rates in the early 1990s between schools that were still enforcing mandatory retirement, and those that were forced to stop by state laws, lead to the same conclusion. In the era of mandatory retirement, fewer than 10 percent of 70-year-old faculty were still teaching two years later. After the elimination of mandatory retirement this fraction has risen to 50 percent. Our findings suggest that most U.S. colleges and universities will experience a significant rise in the fraction of older faculty in the coming years.

Suggested Citation

  • 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..
    • Handle: RePEc:pri:indrel:448
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    Citations

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    Cited by:

    1. Ashenfelter, Orley & Card, David, 2001. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement Flows?," IZA Discussion Papers 402, Institute of Labor Economics (IZA).
    2. David Neumark, 2003. "Age Discrimination Legislation in the United States," Contemporary Economic Policy, Western Economic Association International, vol. 21(3), pages 297-317, July.
    3. Wendy A. Stock & Kathleen Beegle, 2004. "Employment Protections for Older Workers: Do Disability Discrimination Laws Matter?," Contemporary Economic Policy, Western Economic Association International, vol. 22(1), pages 111-126, January.
    4. Morley Gunderson, 2003. "Age Discrimination in Employment in Canada," Contemporary Economic Policy, Western Economic Association International, vol. 21(3), pages 318-328, July.
    5. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation.

    More about this item

    Keywords

    mandatory retirement; faculty; four year colleges;
    All these keywords.

    JEL classification:

    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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