Shying Away from Retiring
Inside Higher Ed today carries an article about surveys of faculty who say they don’t plan to retire at the “normal” age or maybe ever. The work-til-you-drop response is attributed to such motivations as wanting to be intellectually active but also importantly to concerns about having sufficient funds and health insurance to retire. When UC was considering changing its retirement plan – it created a two-tier program – it retained the defined benefit approach rather than switch to a defined contribution approach. Many faculty in the U.S. are under TIAA-CREF or some similar defined contribution program which means that they…
