Eighty-eight percent of responding institutions reported making financial-planning services or retirement counseling available to their faculty members; 12 percent indicated that they did not do so. Seventy-two percent offered early planning for retirement (to faculty younger than fifty-five), while 28 percent of institutions did not. A substantial number (248) of institutions provided “lifestyle planning” to help faculty determine what to do in retirement. Such services were more likely to be provided by organizations external to a college or university. Ninety-four percent of responding institutions indicated that they did not provide financial subsidies for the services offered by outside organizations.
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(2/15/07)