 How Did the Elimination of Mandatory Retirement Affect Faculty Retirement?Orley Ashenfelter and David Card No 827, Working Papers from Princeton University, Department of Economics, Industrial Relations Section. 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. Keywords: mandatory retirement; faculty; four year colleges (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pri:indrel:448 Access Statistics for this paper More papers in Working Papers from Princeton University, Department of Economics, Industrial Relations Section. Contact information at EDIRC. |
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