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Since the economic downturn, many experts on the academic work force have worried that professors will delay retirement (given that their investment accounts took hits), and that an already-tight job market will get even tighter.
A new study takes more of a long-term view, but ends up confirming those fears. Examining trends at a large private university from 1981 to 2009, the study finds faculty members are likely to take much longer to retire. And unlike the more recent studies focused on the impact of the economic downturn, this study covers time periods in which retirement accounts would have been up and down several times. The dates in the study come before and after 1993, the last year in which colleges and universities were permitted to enforce a mandatory retirement age of 70. (An abstract of the study appears here. The paper, by Sharon L. Weinberg and Marc A. Scott of New York University, is in Educational Researcher.)