Mimi Lord, TIAA-CREF Institute
June 2005 |
Older faculty members wanting to reduce their work loads increasingly are interested in phased retirement plans, which allow them to ease into retirement and avoid an abrupt separation from their institutions. The terms of phased retirement plans vary from one institution to another, and it is extremely important for faculty members to understand exactly how their salaries, work responsibilities, current and future benefits will be affected before making a decision. This paper synthesizes some of the findings about phased retirement plans based on several papers written by TIAA-CREF Institute Fellows.