The Great Recession and Faculty Retirement Plans, Attitudes, and Expectations: Evidence from Selected Kansas Regents Faculty

Abstract

The current financial environment resulting from the great recession of 2008has impacted various segments of the labor force. This paper presents one of the firstattempts to examine expected retirement age and allocation of retirement assets of ahomogenous group of near retirees of university faculty following the great recession. Theresults provide insights to the significance of financial variables in explaining expectedretirement age in a period of increased overall uncertainty in the economic environment.There is evidence of a slightly stronger substitution effect with respect to current income(delays retirement) while results with respect to retirement wealth are mixed. (J26, J10)