Early Retirement in Academia Making the Decision

Abstract

Retirees and current employees of the University of California were surveyed about their retirement experiences and plans. Employees who retired prior to the mandatory age were more satisfied with their decision and fared better financially than the mandatory age retirees. Among current employees,37% plan to retire before the mandatory age, and 68% of all employees would retire even earlier thannow planned, if the conditions were right, the primary condition being a larger retirement annuity.Academics, in this sample at least, would not resist retiring early, providing certain perquisites were provided.

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