Phasing Into Retirement

Steven Allen (), Robert L. Clark and Linda S. Ghent

No 9779, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: J1 J2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm and nep-lab
Date: 2003-06
Note: AG LS
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