Table 1 Response Rates to The Survey of Changes in Faculty Retirement Policies
Table 2 Distribution of Sampled Institutions by Type, Control and Retirement Plan Type
Table 3 Contribution Rates in Defined Contribution Systems
Table 4 Percentages of Average Salary Received Per Year of Service in Defined Benefit Retirement Systems
Table 5 Percentage of Institutions in Each Category that Had One or More Financial Incentive Programs Since 1995 to Encourage Faculty Members to Retire Prior to Age 70
Table 6 Percentage of Institutions in Each Category that Reported Having Had "Buyouts" Since 1995
Table 7 Percentage of Institutions in Each Category that Currently Have a Formal Phased Retirement Program
Table 8 Is the Fraction of Tenured Faculty Who Continue Full-Time Employment After Age 69 Greater Now than It Was Prior to the Elimation of Mandatory Retirement
Table 9 Percentage of Institutions that Provide Each Benefit to Retired Faculty
Table 1
Response Rates to The Survey of Changes in Faculty Retirement Policies
|
Institutional Category
|
Initial Sample
|
Bad Numbers
|
Ineligible
|
Refused
|
Completed Surveys
|
Response Rate (%)
|
Response Target
|
|
I (Doctoral)
|
206
|
0
|
2
|
4
|
123
|
60.1
|
150
|
|
IIA (Masters)
|
391
|
1
|
2
|
5
|
184
|
47.4
|
150
|
|
IIB (Baccalaureate)
|
321
|
1
|
1
|
5
|
153
|
48.0
|
150
|
|
III (2 yr. w/ Faculty Ranks)
|
173
|
1
|
0
|
4
|
71
|
41.3
|
75
|
|
IV (2 yr. w/o Faculty Ranks)
|
291
|
1
|
1
|
4
|
77
|
26.6
|
75
|
|
Total
|
1382
|
10
|
6
|
22
|
608
|
44.3
|
600
|
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Table 2
Distribution of Sampled Institutions by Type, Control and Retirement Plan Type*
| Defined Contribution | Defined Benefit | Combined System | Each System |
Private Doctoral | 24 | 0 | 1 | 1 |
Private Masters | 64 | 4 | 1 | 0 |
Private Baccalaureate | 109 | 5 | 1 | 0 |
Private 2 yr. w/ Faculty Ranks | 1 | 0 | 0 | 0 |
Private 2 yr. w/o Faculty Ranks | 2 | 2 | 0 | 0 |
Public Doctoral | 19 | 14 | 13 | 51 |
Public Masters | 13 | 18 | 11 | 72 |
Public Baccalaureate | 6 | 5 | 5 | 22 |
Public 2 yr. w/ Faculty Ranks | 5 | 11 | 5 | 49 |
Public 2 yr. w/o Faculty Ranks | 7 | 34 | 9 | 23 |
Totals | 250 | 93 | 46 | 218 |
| | | | |
|
* One institution did not respond to this question.
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Table 3
Contribution Rates in Defined Contribution Systems
| Contribution Rate | Number of Institutions in Which the Institution Contributes the Rate | Number of Institutions in Which Faculty Members' Minimum Required Contribution Rate Is |
0 | 4 | 79 |
1 | 2 | 6 |
2 | 1 | 11 |
3 | 5 | 34 |
4 | 8 | 20 |
5 | 38 | 105 |
6 | 48 | 50 |
7 | 37 | 29 |
8 | 67 | 31 |
9 | 58 | 18 |
10 | 93 | 9 |
11 | 22 | 0 |
12 | 15 | 1 |
13 | 3 | 0 |
14 | 12 | 0 |
15 | 2 | 0 |
20 | 0 | 1 |
25 | 1 | 0 |
other* | 75 | 0 |
| | |
| * Institutional rate varies with age, years of service, and/or age. |
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Table 4
Percentages of Average Salary Received Per Year of Service in Defined Benefit Retirement Systems*
Percentage | Number of Institutions | |
1.0 | 1 | |
1.4 | 2 | |
1.5 | 4 | |
1.6 | 1 | |
1.7 | 8 | |
1.8 | 2 | |
1.9 | 4 | |
2.0 | 15 | |
2.1 | 2 | |
2.2 | 8 | |
2.3 | 2 | |
2.4 | 1 | |
2.5 | 10 | |
other** | 31 | |
not reported | 220 | |
| | |
*Sample is the 311 institutions that reported having a defined benefit retirement system or that their faculty could choose between participating in a defined benefit or a defined contribution system. Excluded are institutions whose faculty are enrolled in systems that have both defined benefit and defined contribution components.
|
**Includes plans in which the generosity varies either with the faculty member's salary level or with the year that his or her service with the university began. |
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Table 5
Percentage of Institutions in Each Category that Had One or More Financial Incentive Programs Since 1995 to Encourage Faculty Members to Retire Prior to Age 70*
Institutional Category | Private | Public | Total |
I (Doctoral) | 60% (25) | 42% (97) | 46% (122) |
IIA (Masters) | 42% (69) | 41% (114) | 41% (183) |
IIB (Baccalaureate) | 45% (115) | 37% (38) | 43% (153) |
III (2 yr. w/ Faculty Ranks) | 0% (1) | 67% (70) | 66% (71) |
IV (2 yr. w/o Faculty Ranks) | 0% (4) | 44% (73) | 42% (77) |
Overall | 46% (214) | 46% (392) | 46% (606) |
| | | |
* Numbers in parentheses are the number of institutions that provided responses to the question. |
There were 2 nonrespondents to this question. | |
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Table 6
Percentage of Institutions in Each Category that Reported Having Had "Buyouts" Since 1995*
| Institutional Category | Private | Public | Total |
| I (Doctoral) | 72% (25) | 38% (95) | 45% (120) |
| IIA (Masters) | 57% (68) | 18% (113) | 33% (181) |
| IIB (Baccalaureate) | 49% (113) | 17% (36) | 41% (149) |
| III (2 yr. w/ Faculty Ranks) | 0% (1) | 32% (69) | 31% (70) |
| IV (2 yr. w/o Faculty Ranks) | 0% (4) | 13% (71) | 12% (75) |
| Overall | 53% (211) | 24% (384) | 34.6% (595) |
| | | | |
| * Number in parentheses are the number of institutions that provided yes or no responses to the question. 13 of the 608 respondents did not answer this question. |
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Table 7
Percentage of Institutions in Each Category that Currently Have a Formal Phased Retirement Program*
Institutional Category | Private | Public | Total |
I (Doctoral) | 50% (26) | 31% (97) | 35% (123) |
IIA (Masters) | 33% (69) | 23% (115) | 29% (184) |
IIB (Baccalaureate) | 31% (114) | 24% (38) | 29% (152) |
III (2 yr. w/ Faculty Ranks) | 0% (1) | 14% (70) | 14% (71) |
IV (2 yr. w/o Faculty Ranks) | 0% (4) | 19% (73) | 18% (77) |
Overall | 35% (214) | 23% (393) | 27% (607) |
| | | |
* numbers in parentheses are the number of institutions that provided responses to the question. |
One institution did not respond.
| | |
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Table 8
Is the Fraction of Tenured Faculty Who Continue Full-Time Employment After Age 69 Greater Now than It Was Prior to the Elimination of Mandatory Retirement?*
| Institutional Category | Private | Public | Total |
| I (Doctoral) | 53% (17) | 42% (74) | 44% (91) |
| IIA (Masters) | 23% (48) | 13% (82) | 17% (130) |
| IIB (Baccalaureate) | 15% (86) | 6% (31) | 13% (117) |
| III (2 yr. w/ Faculty Ranks) | | 26% (42) | 26% (42) |
| IV (2 yr. w/o Faculty Ranks) | 0% (2) | 8% (38) | 8% (40) |
| Overall | 22% (153) | 22% (267) | 22% (420) |
| | | | |
| * numbers in parentheses are the number of institutions that provided yes or no responses to the question. |
189 institutions did not respond.
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Table 9
Percentage of Institutions that Provide Each Benefit to Retired Faculty*
| | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
| Private Doctoral | 65.4 | 38.5 | 88.5 | 50.0 | 19.2 | 80.8 | 34.6 | 80.8 |
| Private Masters | 36.2 | 27.5 | 66.7 | 33.3 | 4.3 | 56.5 | 7.2 | 26.1 |
| Private Baccalaureate | 49.6 | 29.6 | 73.9 | 41.7 | 8.7 | 72.2 | 6.1 | 27.8 |
| Private 2 yr. w/o Faculty Ranks | 25.0 | 25.0 | 75.0 | 25.0 | 25.0 | 25.0 | 0.0 | 25.0 |
| Public Doctoral | 78.4 | 58.8 | 88.7 | 70.1 | 23.7 | 87.6 | 32.0 | 71.1 |
| Public Masters | 52.2 | 34.8 | 73.9 | 41.7 | 7.0 | 78.3 | 8.7 | 35.7 |
| Public Baccalaureate | 47.4 | 34.2 | 57.9 | 39.5 | 10.5 | 65.8 | 2.6 | 10.5 |
| Public 2 yr. w/ Faculty Ranks | 24.3 | 24.3 | 40.0 | 27.1 | 8.6 | 45.7 | 5.7 | 12.9 |
| Public 2 yr. w/o Faculty Ranks | 20.5 | 21.9 | 31.5 | 26.0 | 8.2 | 41.1 | 1.4 | 5.5 |
Average | 47.0 | 34.0 | 66.0 | 41.8 | 10.9 | 66.8 | 11.2 | 32.7 |
| | | | | | | | | |
| * Private 2 yr. Colleges with rank are excluded from the table, because of their small numbers. |
| | | | | | | | | |
KEY: | | | | | | | | |
| (1) office space | | | (5) travel funds |
| (2) secretarial assistance | | | | (6) parking | | | |
| (3) access to institutional computer system | (7) lab space same as tenured faculty |
| (4) telephone | | | (8) eligible for research grants |
|
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