Uncharted Waters: Paying Benefits from Individual Accounts in Federal Retirement Policy.
The National Academy of Social Insurance (NASI) released the findings of a study panel supported by the TIAA-CREF
Institute that examined some of the payout issues that might arise from implementing a system of individual accounts, if
such accounts were to become a part of federal retirement policy. The panel urges lawmakers to pay careful attention to
issues like: 1) how the assets accumulated would be paid out during retirement, 2) what institutions, public or private,
will be responsible for making payments from the accounts, 3) will individuals have funds available to them before
retirement, and 4) what happens if an individual becomes disabled or dies before retirement.
(Researcher: Virginia Reno, National Academy of Social Insurance)
There's no longer mandatory retirement? A look at some faculty
retirement incentives offered by Colleges and Universities
At one time, the implicit contract between a
university and a professor involved tenure for a certain number of years followed by its termination at a specified age.
Without mandatory retirement, universities and colleges have resorted to other means to induce employment separations.
This paper discusses these other means and how institutions of higher education are responding to the changes resulting
from the end of mandatory retirement.
(Researcher: John Pencavel, Stanford University)
Defined Contribution Pension Plans and the Measurement of
Retirement Wealth: Implications for Studies of Pension Knowledge, Saving and the Timing of Retirement
Policy
makers have a keen interest in understanding the pension wealth for Americans to help them guide pension reform and
policies. Historically, pension wealth has been calculated using methodology best suited to defined benefit (DB) plans.
This study uses a new methodology in order to better accommodate defined contribution (DC) pension savings. The
researcher finds that, on average, pension wealth calculations using the old methodology have often been over
estimated, especially for high pension accumulators. This study is important for understanding how prepared older
individuals really are for retirement.
(Researcher: Gary Engelhardt, Syracuse University and TIAA-CREF Institute Fellow)
Goal Expectations as Predictors of Retirement Intentions.
Considerable research exists which examines the influence of factors such as health and financial status on the timing
of retirement. In contrast, this research focuses on the underlying psychological considerations of the decision-maker.
For example, when thinking about retiring, what options does an individual consider? What goals might be facilitated by
the retirement decision? Conversely, what goals might conflict with the decision to retire? In the absence of mandated
retirement for faculty, the possibility of conflicting goals impacting the retirement decision must be considered.
(Researchers: Ruby Brougham. Chapman University; David Walsh,
University of Southern California)
Compensation and employment policies for higher education
This
paper examines existing human resources policies and considers potential modifications designed to help institutions to
strategically recruit, retain, and retire faculty. Consideration is given to health insurance for active and retired
faculty, and phased retirement plans and early retirement programs.
(Researchers: Robert L. Clark, North Carolina State University and TIAA-CREF
Institute Fellow, and Madeleine B. d'Ambrosio, TIAA-CREF Institute)
Recent Trends in Faculty Demographics and Employment Patterns
This report examines some recent trends in faculty demographics (age, gender, ethnicity, etc.) and employment patterns (full-time vs. part-time, tenure track vs. non-tenure track) at U.S. degree-granting institutions, drawing data from the National Center for Education Statistics.
(Researcher: Jennifer Ma, TIAA-CREF Institute)
Why is there an increased frequency and duration of the post doctorate career stage? Life sciences? Job market conditions?
What is going on with post docs? This research presents trend data that reveals increasing number of post docs and longer durations for the post doc career stage. It also offers insights as to what is driving the trends. Contributing factors include
the adverse job market conditions and more Ph.D.s being awarded in the life sciences.
(Researchers: Paula E. Stephan, Georgia State University and TIAA-CREF
Institute Fellow; Jennifer Ma, TIAA-CREF Institute)
What are the effects, if any, of corporate governance on mutual funds' performance?
Recently funded by a TIAA-CREF Institute grant, this study will examine whether and how the ownership levels of funds'
trustees are correlated with fund performance and whether mutual fund growth (in terms of inflows) comes at the expense of fund returns.
(Researchers: Qi Chen, Duke University and TIAA-CREF Institute Fellow; Wei Jiang, Columbia University and TIAA-CREF Institute Fellow)
2005 TIAA-CREF HESBURGH AWARD WINNERS
Congratulations to Wagner College, the winner of the TIAA-CREF Hesburgh Award (administered by the TIAA-CREF Institute) for exceptional faculty development and teaching programs designed to enhance undergraduate learning. The award, presented during the American Council on Education's annual meeting, recognized:
In addition, three Certificates of Excellence were awarded to:
The Institute's Knowledge On-Demand online library offers recorded web conferences that can be accessed at any time. Recorded events currently available include:
