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The Value of Phased Retirement
National Bureau of Economic Research [NBER] 
June 3, 2004
Working paper by Steven G. Allen. Excerpt: This paper examines how phased retirement plans in higher education create value for both the institution and individual faculty, based upon evidence from the Survey of Changes in Faculty Retirement Policies and an in-depth case study of the University of North Carolina system.... The biggest payoff to the university is an increase in the odds that low-performing faculty will start the retirement process earlier.
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