Are You Planning and Saving for Retirement?

Autor/in	Yakoboski, Paul
Titel	Are You Planning and Saving for Retirement?
Quelle	In: Academe, 93 (2007) 3, S.31-33 (3 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0190-2946
Schlagwörter	College Faculty; Teacher Retirement; Teacher Surveys; Planning; Investment; Higher Education + Suchen Sie Ihr Suchwort? Fakultät; Ablaufplanung; Planungsprozess; Investments; Geldanlage; Investiton; Hochschulbildung; Hochschulsystem; Hochschulwesen
Abstract	In 2005, TIAA-CREF sponsored its first-ever "Retirement Confidence Survey of College and University Faculty" to discover the answer to this question: How well are faculty members taking advantage of employer-sponsored pension plans and saving for retirement? An additional objective of the project was to compare the survey's findings for higher education faculty with those for all working Americans based on the annual "Retirement Confidence Survey," a nationally representative survey of the attitudes and behavior of American workers and retirees toward saving, retirement planning, and long-term financial security. Results of the inaugural survey suggest that America's higher education faculty are confident in their prospects for a comfortable retirement and that, relative to all working Americans, they are doing a good job of preparing for retirement. Higher education faculty tend to be older than the general working population in the United States, and they have higher incomes and educational levels. No doubt, all of these factors account for some of their better preparation and greater confidence. But they also benefit from the retirement systems in place within the higher education community. Defined-benefit or defined-contribution plans are available to most faculty. Although the findings of the survey indicate that many faculty members are on the right track in planning for retirement, some caution flags do exist. For example, at least one-third of faculty members do not seem to know how much they need to accumulate for retirement, and many of the 42 percent of faculty expecting to work past age 65 say that they must do so. Adequate financial planning and preparation are necessary so that faculty members, or any other workers, can achieve a financially secure retirement. (ERIC).
Anmerkungen	American Association of University Professors. 1012 Fourteenth Street NW Suite 500, Washington, DC 20005. Tel: 800-424-2973; Tel: 202-737-5900; Fax: 202-737-5526; e-mail: academe@aaup.org; Web site: http://www.aaup.org
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10