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Adverse Selection And Incentives In An Early Retirement Program, Kenneth T. Whelan, Ronald G. Ehrenberg, Kevin F. Hallock, Ronald L. Seeber
Adverse Selection And Incentives In An Early Retirement Program, Kenneth T. Whelan, Ronald G. Ehrenberg, Kevin F. Hallock, Ronald L. Seeber
Ronald G. Ehrenberg
We evaluate potential determinants of enrollment in an early retirement incentive program for non-tenure-track employees of a large university. Using administrative record on the eligible population of employees not covered by collective bargaining agreements, historical employee count and layoff data by budget units, and public information on unit budgets, we find dips in per-employee finance in a budget unit during the application year and higher recent per employee layoffs were associated with increased probabilities of eligible employee program enrollment. Our results also suggest, on average, that employees whose salaries are lower than we would predict given their personal characteristics and …
Faculty Retirement Policies After The End Of Mandatory Retirement, Ronald G. Ehrenberg, Michael J. Rizzo
Faculty Retirement Policies After The End Of Mandatory Retirement, Ronald G. Ehrenberg, Michael J. Rizzo
Ronald G. Ehrenberg
[Excerpt] The findings we report above have implications for both institutions and their faculty members. In some states, rapidly growing college age cohorts will require academic institutions to hire large numbers of new faculty in the years ahead to fill positions created to meet the expanding demand for enrollments. Nationally, institutions will have to replace a large number of retiring faculty members in the years ahead. This suggests that most institutions’ concern in upcoming years will not be how to encourage their faculty members to retire. Rather, their concern will be how to continue to draw on the skills of …
Cornell Confronts The End Of Mandatory Retirement, Ronald G. Ehrenberg, Michael W. Matier, David Fontanella
Cornell Confronts The End Of Mandatory Retirement, Ronald G. Ehrenberg, Michael W. Matier, David Fontanella
Ronald G. Ehrenberg
[Excerpt] In July 1995, the first author of this paper was appointed vice president of academic programs, planning and budgeting at Cornell and, at his initiative, a joint faculty-administrative committee was subsequently established, with him as chair, to look into how the university should respond to the elimination of mandatory retirement. In this chapter, we discuss the environment in which the university found itself when the committee was established, the recommendations of the committee, faculty reactions to the recommendations, and the actions that the university ultimately decided to pursue.
No Longer Forced Out: How One Institution Is Dealing With The End Of Mandatory Retirement, Ronald G. Ehrenberg
No Longer Forced Out: How One Institution Is Dealing With The End Of Mandatory Retirement, Ronald G. Ehrenberg
Ronald G. Ehrenberg
: [Excerpt] Why should academic institutions or their faculty care about the end of mandatory retirement for tenured faculty, which became effective in January 1994? From the perspective of an individual tenured faculty member who wants to continue her career beyond age seventy, the elimination is a welcome event. In the past, faculty members who wanted to remain active after reaching seventy had to negotiate their status with institutions that were under no legal obligation to allow them to continue. Now, however, tenured faculty members have the legal right to continue indefinitely in their tenured appointments. From the point of …
Career's End: A Survey Of Faculty Retirement Policies, Ronald G. Ehrenberg
Career's End: A Survey Of Faculty Retirement Policies, Ronald G. Ehrenberg
Ronald G. Ehrenberg
There are almost as many ways to retire from the academy as there are types of schools. But, as a recent study shows, institutional planning can prevent unpleasant surprises.
The Social Security Student Benefit Program And Family Decisions, Ronald G. Ehrenberg
The Social Security Student Benefit Program And Family Decisions, Ronald G. Ehrenberg
Ronald G. Ehrenberg
In 1965 Congress established the Social Security Student Benefit Program which provided benefits for children of deceased, disabled or retired workers, who were enrolled in college full—time and were not married, up until the semester they turned age 22. The program grew to be a major financial aid program; at its peak in FY 81 it represented about 20% of all federal outlays on student assistance for higher education. The program was terminated for students newly entering college as of May 1, 1982. Somewhat surprisingly, in contrast to the debate that accompanies most social programs, debate over the student benefit …
The Costs Of Defined Benefit Pension Plans And Firm Adjustments, Burt S. Barnow, Ronald G. Ehrenberg
The Costs Of Defined Benefit Pension Plans And Firm Adjustments, Burt S. Barnow, Ronald G. Ehrenberg
Ronald G. Ehrenberg
[Excerpt] While it is obvious that the costs of term life insurance vary directly with age, it is less obvious how employers' contributions to pension funds, which comprise a major share of nonwage compensation, vary. As such, we focus in this paper on the most common variant of pension plans and demonstrate how an employer's cost of fully funding a plan varies with the age and service characteristics of his work force. This cost, as a percent of annual salary, is seen to increase with employees' ages and, in some cases, years of service. This variation has important implications for …
Retirement Policies, Employment, And Unemployment, Ronald G. Ehrenberg
Retirement Policies, Employment, And Unemployment, Ronald G. Ehrenberg
Ronald G. Ehrenberg
[Excerpt] There is a growing consensus among economists that reliance on aggregate demand policies alone will not be sufficient to move the economy to full employment with a nonaccelerating inflation rate, and that policies which alter the structure of labor markets will be required. While obvious structural policies such as public sector employment programs and training programs are the focus of current debate, many other public policies affect labor markets in subtle ways which may well adversely affect the level and distribution of employment and unemployment. To help improve the inflation-unemployment tradeoff, policymakers should seek to marginally modify these policies, …
The Impact Of Retirement Policies On Employment And Unemployment, Ronald Ehrenberg
The Impact Of Retirement Policies On Employment And Unemployment, Ronald Ehrenberg
Ronald G. Ehrenberg
[Excerpt] This paper has focused on the impact of retirement policies on the level and distribution of employment and unemployment. All of the policies discussed, except for early retirement provisions in privately negotiated collective bargaining contracts were seen to have adverse effects on the level and distribution of employment. Hence, the paper illustrates the more general point that policies designed to promote one social goal may well detract from achieving other goals and suggests that more explicit attention should be given to the employment effects of social programs and legislation prior to their adoption.
Retirement System Characteristics And Compensating Wage Differentials In The Public Sector, Ronald G. Ehrenberg
Retirement System Characteristics And Compensating Wage Differentials In The Public Sector, Ronald G. Ehrenberg
Ronald G. Ehrenberg
This paper presents evidence that a trade-off exists between wages and certain characteristics of retirement systems in the public sector. Cross-section econometric estimates for uniformed municipal employees, based upon data from two national surveys of municipalities, suggest that, other things equal, an increase in the contribution made by uniformed employees to their retirement system leads to a compensating increase in their salaries, while retirement systems with more "generous" characteristics are associated to some extent with lower salaries. The estimates also indicate that the extent of retirement system underfunding is related to employers' and employees' perceptions of the probability that promised …