IN THE NEWS
IT'S TIME TO RETHINK OUR RETIREMENT PLANS
The Wall Street Journal
November 13, 2008
Op-ed author, Roger Ferguson, Chairman and CEO of TIAA-CREF, asserts that the economic crisis presents an opportunity to bolster pensions and help more Americans achieve financial security. One suggestion is to automatically enroll employees in plans, then hiking savings with pay raises, an approach some higher education retirement plans follow. It may be one reason why 35% of faculty feel very confident in their retirement income prospects, compared with 25% of working Americans, according to a TIAA-CREF Institute study.
ON CAMPUS, THE '60s BEGIN TO FADE AS LIBERAL PROFESSORS RETIRE
The New York Times
July 3, 2008
Baby boomers, hired in large numbers during a huge expansion in higher education that continued into the '70s, are being replaced by younger professors who many of the nearly 50 academics interviewed by The New York Times believe are different than their predecessors - less ideologically polarized and more politically moderate. Reference is made to information shared at the TIAA-CREF Institute 2007 Higher Education Leadership Conference, Generational Shockwaves.
UT RETIREMENT BOOM EXPECTED IN COMING YEARS
The Daily Texan
June 18, 2008
Forty-two percent of the University of Utah's 3,200 faculty members and 40 percent of its 10,900 staff members can be classified as baby boomers, those born in the wake of World War II and into the 1960's. Within the next 5 - 7 years, 40% of UT's faculty and staff could conceivably be heading out the door. But the milestone should not cause University officials to expect a large chunk of their professors to retire overnight, said Paul Yakoboski, principal research fellow at the TIAA-CREF Institute. Academics tend to be a bit different from the rest of the population, working well into their 60s and 70s.