American Economic Review: Vol. 92 No. 4 (September 2002)
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Did the Elimination of Mandatory Retirement Affect Faculty Retirement?
Ashenfelter, Orley, and David Card. 2002. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement? ." American Economic Review, 92(4): 957-980.
A special exemption from the 1986 Age Discrimination Act allowed colleges and universities to enforce mandatory retirement of faculty at age 70 until 1994. We construct a survey that permits us to compare faculty turnover rates before and after the law changed at a large sample of institutions with defined contribution pension plans. After the elimination of compulsory retirement the retirement rates of 70- and 71-year-olds fell by two-thirds and were comparable to rates of 69-year-olds. These findings indicate that U.S. colleges and universities will experience a rise in the number of older faculty over the coming years. (JEL J26, I21)
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