.... It reviews the structure of Individual Retirement Accounts and the Employee Retirement Income Security Act, which governs private-sector retirement plans and their treatment by the Internal Revenue Code...
Jennings, Penelope R.; Jennings, William P.; Phillips, G. Michael
While financial planning students are expected to be able to understand client retirement plans, subtle differences in cost-of-living adjustments can have major impact on the success of client retirement plans. This teaching note compares the cost-of-living adjustments in the largest government sponsored retirement systems and a hypothetical…
Full Text Available Governments in many countries are facing the challenge of providing sufficient retirement incomes for apopulation that is ageing as a result of lower mortality and fertility rates. An ageing population placesconsiderable financial stress on government budgets as spending on welfare increases, further compoundedby a proportional reduction in working-age taxpayers. Exposure to financial education programs canpositively influence the retirement planning and savings behaviour of individuals. Research indicates thatseminars, written communications and website information are effective methods in communicating financialeducation. In this study an investigation is conducted into the views of retirement fund members regardingelements of financial education resources made available to them through their retirement fund. Four aspectsare investigated, that is, whether there are differences with respect to members’ views between the genders,older and younger members, levels of qualification, and size of superannuation balances. Empirical evidencesuggests that gender and age are important factors with females and younger people less likely to utiliseeducational information and more at risk of not accumulating sufficient funds for retirement.
Liu, Peng-Cheng; Zhang, Huan-Huan; Zhang, Mei-Ling; Ying, Jie; Shi, Ying; Wang, Shou-Qi; Sun, Jiao
To explore the situation of older nurses approaching retirement with regard to their retirement planning, and the relationship of their retirement planning behaviour with the job environment and job satisfaction under their current employment arrangements and other work-related variables. Nurse shortage has become a global phenomenon that can be alleviated by retaining older nurses in service. The Chinese government proposed the "Incremental Delay Retirement Age Policy." However, older nurses face delayed retirement but lack retirement plans. A cross-sectional questionnaire survey was conducted among a convenience sample of older retiring nurses (n = 152; 84.92% response rate) recruited from every department of four large general hospitals in Changchun, Jilin Province from June to August 2016. The majority of the respondents presented poor retirement planning (n = 122, 80.3%). The independent variables of information exchange with patients, teamwork and personal growth and development explained approximately 16.6% of the variance in retirement planning. Nurse-patient communication and personal growth and development can promote retirement planning, but teamwork is negatively related to retirement planning. Retirement planning by Chinese older nurses is related to certain work-related variables. However, many other work-related variables were not associated with retirement planning and require further research. Overall, Chinese older retiring nurses must improve their retirement planning practices. © 2017 John Wiley & Sons Ltd.
The social partners have given a divided response to the Dutch cabinet’s plans to raise the retirement age - first to 66 years in 2020 and then to 67 years in 2025. This also applies to the age at which company pension schemes will be paid out. The trade unions argue that poorly paid workers who
Szinovacz, Maximiliane E; Davey, Adam; Martin, Lauren
The recent recession constitutes one of the macro forces that may have influenced workers' retirement plans. We evaluate a multilevel model that addresses the influence of macro-, meso-, and micro-level factors on retirement plans, changes in these plans, and expected retirement age. Using data from Waves 8 and 9 of the Health and Retirement Study (N=2,618), we find that individuals with defined benefit plans are more prone to change toward plans to stop work before the stock market declined, whereas the opposite trend holds for those without pensions. Debts, ability to reduce work hours, and firm unionization also influenced retirement plans. Findings suggest retirement planning education may be particularly important for workers without defined pensions, especially in times of economic volatility. © The Author(s) 2014.
Poterba, James; Rauh, Joshua; Venti, Steven; Wise, David
The private pension structure in the United States, once dominated by defined benefit (DB) plans, is currently divided between defined contribution (DC) and DB plans. Wealth accumulation in DC plans depends on the participant's contribution behavior and on financial market returns, while accumulation in DB plans is sensitive to a participant's labor market experience and to plan parameters. This paper simulates the distribution of retirement wealth under representative DB and DC plans. It uses data from the Health and Retirement Study (HRS) to explore how asset returns, earnings histories, and retirement plan characteristics contribute to the variation in retirement wealth outcomes. We simulate DC plan accumulation by randomly assigning individuals a share of wages that they and their employer contribute to the plan. We consider several possible asset allocation strategies, with asset returns drawn from the historical return distribution. Our DB plan simulations draw earnings histories from the HRS, and randomly assign each individual a pension plan drawn from a sample of large private and public defined benefit plans. The simulations yield distributions of both DC and DB wealth at retirement. Average retirement wealth accruals under current DC plans exceed average accruals under private sector DB plans, although DC plans are also more likely to generate very low retirement wealth outcomes. The comparison of current DC plans with more generous public sector DB plans is less definitive, because public sector DB plans are more generous on average than their private sector counterparts. PMID:21057597
Asseldonk, van M.A.P.M.; Veen, van der H.B.; Meulen, van der H.A.B.
– In self‐directed retirement plans, farmers are responsible for selecting the types of risky investments toward which the funds in their retirement plan are allocated. Furthermore, farmers do not necessarily purchase sufficient annuities with their savings upon retirement. There is
The social partners have criticized the plans put forward by the Dutch government to ease the impact of the economic crisis. Trade unions are against the plans to keep older employees working for longer and to raise the retirement age. Employers, meanwhile, have argued against the scrapping of the
Gonzalez Eiras, Martin; Niepelt, Dirk
changes of taxes, government spending components and the retirement age in politico-economic equilibrium. Growth is driven by capital accumulation and productivity increases fueled by public investment. The closed-form solutions of the model predict taxation and the retirement age in OECD economies...... to increase in response to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in politico-economic equilibrium would essentially remain unchanged, due to a surge of social security transfers and crowding out of public investment.......We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...
Cole, R J
The process of retirement planning is a difficult one for a physician. The Planning process should address the areas of Investment Planning, Estate Planning, and Risk Management. This article examines each of these dimensions with special emphasis on Modern Portfolio Theory as the basis for investment planning.
... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Annuities under individual retirement plans. 20... § 20.2039-5 Annuities under individual retirement plans. (a) Section 2039(e) exclusion—(1) In general... annuity” receivable by a beneficiary under an individual retirement plan. The term “individual retirement...
Fields, Cheryl D.
Options available to college faculty for planning their retirement benefits are described, including defined benefit plans, defined contribution plans, and methods for customizing a pension plan. Data for 1993 on American households owning interest-earning assets (passbook savings, money market deposit accounts, certificates of deposit, checking…
Schnee, Edward J.; And Others
Greater attention has been focused on the role that employer-sponsored retirement plans and individual savings must play in ensuring retirement income security. Alternative tax retirement planning opportunities currently available to college personnel are explored. (MLW)
Ahmad Zazili Ainol Sarin
Full Text Available The purpose of this study is to determine the factors influencing retirement planning among young professionals in private sector. There are three factors identified in this research which includes financial literacy, job satisfaction and savings behavior. Data used for this study are primary and secondary data such as from journal articles, periodicals and textbooks. A questionnaire is distributed and administered to extract data from the respondents consist of executives, non-executives and managers around Klang Valley, aged between 20 - 34 years old. The data is analyzed using frequency analysis, reliability test and Pearson correlation in order to obtain a clear findings and results. The findings show that financial literacy, job satisfaction and savings behavior has a positive association towards retirement planning. Furthermore, it is shown that financial literacy and saving behavior have a significant relationship with retirement planning. It is hope that this study will inform and encourage the young professionals to save and invest for the retirement.
PLAN COST ANALYSIS ABSTRACT The new military retirement system is advertised to significantly reduce the Department of Defense’s (DOD...200 words) The new military retirement system is advertised to significantly reduce the Department of Defense’s (DOD) monetary outlays over the...determine how changing the value of the following planning assumptions in the MCRMC report will impact the estimated cost savings of this new plan through
Full Text Available We use a representative survey covering 1,500 households to document the level of financial literacy in Switzerland and to examine how financial literacy is related to retirement planning. We measure financial literacy with standardized questions that capture knowledge about three basic financial concepts: Compound interest, inflation, and risk diversification. We measure retirement planning by the incidence of a voluntary retirement savings account. Our results show that financial literacy in Switzerland is high by international standards--a result which is compatible with the high ranking of Switzerland on the PISA mathematical scales. Financial literacy is lower among low-income, less-educated, and immigrant, non-native-speaking households as well as among women. We find that financial literacy is strongly correlated with voluntary retirement saving. Our results also show that financial literacy is correlated with financial market participation and mortgage borrowing.
Yakoboski, P; Ostuw, P
Forty-two million individuals work for small employers; 9 million are participating in an employment-based retirement plan, while 33 million are not participating in a plan. This Issue Brief examines the barriers that prevent small employers from sponsoring a retirement plan, their level of knowledge about plans, and changes that might lead to plan sponsorship. It also examines the motivations of small employers that sponsor retirement plans. Small employers identify three main reasons for not offering a plan: employees' preferences for wages and/or other benefits, administrative costs, and uncertain revenue that makes it difficult to commit to a plan. Small employers without plans report being familiar with 401(k) and profit-sharing plans, but little else. Forty-seven percent report never having heard of the savings incentive match plan for employees (SIMPLE), and 55 percent report never having heard of simplified employee pensions (SEPs). There is apparent misunderstanding about retirement plans among small employers that do not sponsor one, especially with regard to costs. For example, 35 percent do not know that a plan can be set up for less than $2,000. What changes would lead to serious consideration of retirement plan sponsorship? In order of reported importance: increased company profits (66 percent), a business tax credit (64 percent), reduced administrative requirements (50 percent), demand from employees (49 percent), allowing key executives to save more in the plan (49 percent), and easing, i.e., lengthening, of vesting requirements (40 percent). Many small employers that sponsor a retirement plan cite business reasons among their motivations. Sixty-eight percent cite a "positive effect on employee attitude and performance" as a major reason for offering a plan. Fifty-six percent cite a "competitive advantage in employee recruitment and retention" as a major reason. Small employers with a retirement plan report direct benefits from sponsorship, but many
Adenutsi, Deodat E.
The central objective of this paper is to explain the concept and relevance of retirement planning within a vibrant Christian organisation such as the Assemblies of God’s Church. In particular, an attempt is made to expose participants to the theoretical relevance and application of the benefits of retirement planning to the church as an employer, and the pastors as employees of the church. Accordingly, issues related to the role of the church and beneficiary pastors and other full-time worke...
Morahan, John; Turner, Aaron
Currently, higher education is being roiled by class-action lawsuits filed against high-profile institutions, including MIT, Yale and New York University, over management of their retirement plans. As the lawyers are deployed and the billable hours accrue, it is timely to examine how those who have responsibility for retirement plan…
Full Text Available The relationship between financial literacy and financial behavior is important, as individuals are increasingly being asked to take responsibility for their financial wellbeing, especially their retirement. Analyzing of individual savings and attitudes towards retirement planning is important, as these types of investments are a way of preserving security during years of financial vulnerability. Research indicates that individuals who do not save adequately for their retirement, generally have a relatively low level of financial literacy. This research investigates the relationship between financial literacy and retirement planning in Croatia. To analyze the relationship between financial literacy and planning for retirement, maximum likelihood logistic regression analysis was used. The paper shows that those who answer financial literacy questions correctly are more likely to have a positive attitude towards retirement planning and are more likely to save for retirement, ensuring them of higher levels of financial security in retirement. The Goodness-of-Fit evaluation for the estimated logit model was performed using the Andrews and Hosmer-Lemeshow Tests.
An inevitable reality that all athletes have to face is retirement from competition and this experience can lead an acute sense of loss in the athlete. Professional soccer players are no exception. While retirement traditionally occurs for most non-athletes after a long working career that allows them to plan and anticipate the ...
Glass, J. Conrad, Jr.; Kilpatrick, Beverly B.
Many women fail to plan for retirement due to economic constraints, interrupted career paths, lower earnings, gender bias, gender-role socialization, self-esteem, role definition, locus of control, or risk tolerance. Retirement education must address women's specific issues regarding financial planning. (SK)
Julie R. Agnew
Full Text Available Financial literacy and numeracy are closely tied. Furthermore, financial literacy has been shown to relate to important financial behaviors. This study examines the relationship between financial literacy and retirement planning using a measure that includes questions requiring numeracy. We implement a customized survey to a representative sample of 1,024 Australians. Overall, we find aggregate levels of financial literacy similar to comparable countries with the young, least educated, those not employed, and those not in the labor force most at risk. Our financial literacy measure is positively related to retirement planning in our sample.
Topa, Gabriela; Lunceford, Gregg; Boyatzis, Richard E.
Retirement is a time of life that has grown ever longer in the developed world, and the number of pensioners has increased accordingly, questioning the strength of Social Security systems and the social safety net in general. Financial Planning for Retirement (FRP) consists of the series of activities involved in the accumulation of wealth to cover needs in the post-retirement stage of life. The negative short-, mid-, and long-term consequences of inadequate Financial Planning for Retirement do not only affect individuals, but also their extended families, homes, eventually producing an unwanted impact on the entire society. The Capacity-Willingness-Opportunity Model has been proposed to understand FPR, combined with Intentional Change Theory, a framework for understanding the process, antecedents and consequences of FPR. From this perspective, we propose this promising model, but there are a large number of variables that have not been included that offer novel ways to deepen our understanding of FPR. A focus on each dimension of the model, the role of age and psychosocial variables associated with demographic indicators such as gender, health status, and migration, allow us to provide a proposal of scientific advancement of FPR. PMID:29416519
Full Text Available Retirement is a time of life that has grown ever longer in the developed world, and the number of pensioners has increased accordingly, questioning the strength of Social Security systems and the social safety net in general. Financial Planning for Retirement (FRP consists of the series of activities involved in the accumulation of wealth to cover needs in the post-retirement stage of life. The negative short-, mid-, and long-term consequences of inadequate Financial Planning for Retirement do not only affect individuals, but also their extended families, homes, eventually producing an unwanted impact on the entire society. The Capacity-Willingness-Opportunity Model has been proposed to understand FPR, combined with Intentional Change Theory, a framework for understanding the process, antecedents and consequences of FPR. From this perspective, we propose this promising model, but there are a large number of variables that have not been included that offer novel ways to deepen our understanding of FPR. A focus on each dimension of the model, the role of age and psychosocial variables associated with demographic indicators such as gender, health status, and migration, allow us to provide a proposal of scientific advancement of FPR.
Topa, Gabriela; Lunceford, Gregg; Boyatzis, Richard E
Retirement is a time of life that has grown ever longer in the developed world, and the number of pensioners has increased accordingly, questioning the strength of Social Security systems and the social safety net in general. Financial Planning for Retirement (FRP) consists of the series of activities involved in the accumulation of wealth to cover needs in the post-retirement stage of life. The negative short-, mid-, and long-term consequences of inadequate Financial Planning for Retirement do not only affect individuals, but also their extended families, homes, eventually producing an unwanted impact on the entire society. The Capacity-Willingness-Opportunity Model has been proposed to understand FPR, combined with Intentional Change Theory, a framework for understanding the process, antecedents and consequences of FPR. From this perspective, we propose this promising model, but there are a large number of variables that have not been included that offer novel ways to deepen our understanding of FPR. A focus on each dimension of the model, the role of age and psychosocial variables associated with demographic indicators such as gender, health status, and migration, allow us to provide a proposal of scientific advancement of FPR.
Stawski, Robert S; Hershey, Douglas A; Jacobs-Lawson, Joy M
Retirement counselors, financial service professionals, and retirement intervention specialists routinely emphasize the importance of developing clear goals for the future; however, few empirical studies have focused on the benefits of retirement goal setting. In the present study, the extent to which goal clarity and financial planning activities predict retirement savings practices was examined among 100 working adults. Path analysis techniques were used to test two competing models, both of which were designed to predict savings contributions. Findings provide support for the model in which retirement goal clarity is a significant predictor of planning practices, and planning, in turn, predicts savings tendencies. Two demographic variables-income and age-were also revealed to be important elements of the model, with income accounting for roughly half of the explained variance in savings contributions. The results of this study have implications for the development of age-based models of planning, as well as implications for retirement counselors and financial planners who advise workers on long-term saving strategies.
... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Retirement and other employee benefit plan... STATEMENTS OF GENERAL POLICY DEPOSIT INSURANCE COVERAGE § 330.14 Retirement and other employee benefit plan accounts. (a) “Pass-through” insurance. Any deposits of an employee benefit plan in an insured depository...
Zick, Cathleen D; Smith, Ken R; Mayer, Robert N
We assess whether a family history of Alzheimer's disease (AD) is associated with the odds that healthy family members' engage in retirement planning activities. This is a cross-sectional study utilizing individual-level data from the Utah Population Database that have been linked to Medicare records and to responses from a retirement planning survey. Engagement in 3 retirement planning activities was estimated as a function of the number of parents and grandparents diagnosed with AD along with a set of fundamental socioeconomic and demographic covariates. Adults who had a parent with AD were 86% more likely to have seen a professional financial advisor and 40% less likely to plan to retire before age 65. Caregiving costs and/or knowledge of the familial risk of developing AD may provide adult children with a forewarning of their own future financial needs that, in turn, motivates them to engage in retirement planning. © The Author(s) 2016.
In his book Planning to the Years Ahead, Lester I. Tenney, PhD, professor emeritus at Arizona State University, Tempe, links Abraham Maslow's hierarchy of needs to retirement planning. According to Maslow, economic and security needs can be achieved through a family environment (eg, food clothing, shelter), and social acceptance, self-worth, and self-satisfaction can be achieved from social interaction, work, or leisure activities. After the basic needs of food, clothing, and shelter have been achieved, people are able to move to the next level of achieving safety and security. The level of dependency that people have on satisfying these needs through work will determine how well they are at adapting to retirement. The more people depend on work alone, the harder will be the adjustment; people who are less dependent on work will find retirement easier to accept.
Kingma, Kenneth W; Vaughn, Thomas D
Retiring physicians have much to think about for estate planning purposes. The authors stand ready to help physicians sell or close their medical practice, navigate the 2010 Tax Act, take advantage of current planning opportunities, and prepare appropriate estate planning documents. Every estate is unique, so it is important to contact an estate planning advisor before taking any action.
... accumulated benefit under the plan is expressed in terms of only one safe-harbor formula measure and no... expressed in terms of any measure other than that same safe- harbor formula measure. Thus, for example, if a... expressed under the terms of the plan as a life annuity payable at normal retirement age (or current age, if...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Retirement and other employee benefit plan... Coverage § 745.9-2 Retirement and other employee benefit plan accounts. (a) Pass-through share insurance. Any shares of an employee benefit plan in an insured credit union shall be insured on a “pass-through...
Gupta, Aparna; Li, Lepeng
The level of need and costs of obtaining long-term care (LTC) during retired life require that planning for it is an integral part of retirement planning. In this paper, we divide retirement planning into two phases, pre-retirement and post-retirement. On the basis of four interrelated models for health evolution, wealth evolution, LTC insurance premium and coverage, and LTC cost structure, a framework for optimal LTC insurance purchase decisions in the pre-retirement phase is developed. Optimal decisions are obtained by developing a trade-off between post-retirement LTC costs and LTC insurance premiums and coverage. Two-way branching models are used to model stochastic health events and asset returns. The resulting optimization problem is formulated as a dynamic programming problem. We compare the optimal decision under two insurance purchase scenarios: one assumes that insurance is purchased for good and other assumes it may be purchased, relinquished and re-purchased. Sensitivity analysis is performed for the retirement age.
Stawski, Robert S.; Hershey, Douglas A.; Jacobs-Lawson, Joy M.
Retirement counselors, financial service professionals, and retirement intervention specialists routinely emphasize the importance of developing clear goals for the future; however, few empirical studies have focused on the benefits of retirement goal setting. In the present study, the extent to which goal clarity and financial planning activities…
Johan Almenberg; Jenny Säve-Söderbergh
We examine the relationship between financial literacy and retirement planning in a representative sample of Swedish adults. We find significant differences in financial literacy between planners and non-planners. Financial literacy levels are also lower among older people, women and those with low education or earnings. When we control for demographic variables we do not find an association between a narrow measure of financial literacy and planning, but with a broader measure the associatio...
...) For the Police and Firefighters Plan, military service as defined in section 4-607 of the DC Code..., under the retirement plans for District of Columbia teachers, police officers, and firefighters..., police officers, and firefighters in effect as of June 29, 1997, referred to as the ``District Retirement...
... (CONTINUED) RETIRED FEDERAL EMPLOYEES HEALTH BENEFITS Contributions and Withholdings § 891.401 Government... receive a Government contribution toward his or her cost of coverage for: (A) A private health insurance... and who has elected to enroll for self and family in the uniform plan. (b) For retired employees and...
LATEST DATA: This Issue Brief examines the level of participation by workers in public- and private-sector employment-based pension or retirement plans, based on the U.S. Census Bureau's March 2011 Current Population Survey (CPS), the most recent data currently available (for year-end 2010). SPONSORSHIP RATE: Among all working-age (21-64) wage and salary employees, 54.2 percent worked for an employer or union that sponsored a retirement plan in 2010. Among full-time, full-year wage and salary workers ages 21-64 (those with the strongest connection to the work force), 61.6 percent worked for an employer or union that sponsors a plan. PARTICIPATION LEVEL: Among full-time, full-year wage and salary workers ages 21-64, 54.5 percent participated in a retirement plan. TREND: This is virtually unchanged from 54.4 percent in 2009. Participation trends increased significantly in the late 1990s, and decreased in 2001 and 2002. In 2003 and 2004, the participation trend flattened out. The retirement plan participation level subsequently declined in 2005 and 2006, before a significant increase in 2007. Slight declines occurred in 2008 and 2009, followed by a flattening out of the trend in 2010. AGE: Participation increased with age (61.4 percent for wage and salary workers ages 55-64, compared with 29.2 percent for those ages 21-24). GENDER: Among wage and salary workers ages 21-64, men had a higher participation level than women, but among full-time, full-year workers, women had a higher percentage participating than men (55.5 percent for women, compared with 53.8 percent for men). Female workers' lower probability of participation among wage and salary workers results from their overall lower earnings and lower rates of full-time work in comparison with males. RACE: Hispanic wage and salary workers were significantly less likely than both white and black workers to participate in a retirement plan. The gap between the percentages of black and white plan participants that
Noone, Jack; O'Loughlin, Kate; Kendig, Hal
Research from around the Western World has shown that psychological, socioeconomic and demographic factors can influence levels of financial planning. This study aims to determine how these factors interrelate to predict planning outcomes. Data from the Ageing Baby Boomers in Australia Study were used to examine the effects of multiple factors on financial planning for 709 employed Australians nearing retirement. The results showed that higher income, future time perspective (FTP) and financial knowledge independently predicted levels of retirement planning. The effects of FTP and financial knowledge on financial planning were consistent across levels of socioeconomic status. While similar issues in financial planning appeared across socioeconomic status, a 'one size fits all' approach to retirement policy may not be effective. Instead, policy should be targeted towards the diverse needs of different groups. Raising public awareness of FTP and financial knowledge may provide a useful starting point. © 2012 The Authors. Australasian Journal on Ageing © 2012 ACOTA.
Goda, Gopi Shah; Manchester, Colleen Flaherty
We study the effect of incorporating heterogeneity into default rules by examining the choice between retirement plans at a firm that transitioned from a defined benefit (DB) to a defined contribution (DC) plan. The default plan for existing employees varied discontinuously depending on their age. Employing regression discontinuity techniques,…
It states that as one moves near retirement, one should calculate his or her net worth, invest in human capital, slow down strenuous activities and start a familiar business and learn to manage it. It suggests some sources of money to start some income generating ventures .It encourages employees to plan to build functional ...
Johnson, Debra J; Shenaq, Deana; Thakor, Manisha
Financial planning is critically important to ensure financial security both during a plastic surgical career and in retirement. Unfortunately, plastic surgery training includes very little in the way of financial planning. The information that is available in the literature is mostly geared toward men. Women, with longer lifespans and more family care responsibilities, have unique needs when it comes to financial planning. Adequate attention must also be paid to life after retirement. A plastic surgical career can be all-encompassing, and thus women need to carefully plan volunteer activities, new hobbies, and even a second career to make their retirement years fulfilling and enjoyable. Key points regarding financial planning during the various phases of a woman plastic surgeon's career are discussed. Options for retirement are presented.
This Issue Brief is the third in a series of Employee Benefit Research Institute (EBRI) publications based on data collected in 1998 and released in 2002 as the Retirement and Pension Plan Coverage Topical Module of the 1996 Survey of Income and Program Participation (SIPP). This report completes the series by examining the survey's more detailed questions concerning workers' employment-based retirement plans. Specifically, it examines the percentage of workers who are participating in a plan, and also workers' reasons for not participating in a plan when working in a job where a plan is sponsored; the features of, or decisions made concerning salary reduction plans; historical participation in employment-based retirement plans; and a comparison of the standard of living of individuals age 55 or older with their living standard in their early 50s. As of June 1998, 64.3 percent of wage and salary workers age 16 or older worked for an employer or union that sponsored any type of retirement plan (defined contribution or defined benefit) for any of its employees or members (the "sponsorship rate"). Almost 47 percent of these wage and salary workers participated in a plan (the "participation rate"), with 43.2 percent being entitled to a benefit or eligible to receive a lump-sum distribution from a plan if their job terminated at the time of survey (the "vested rate"). The predominant reason for choosing not to participate in a retirement plan was that doing so was unaffordable. The eligible participation rate for salary reduction plans was 81.4 percent. Fifty-six percent of all workers have participated in some type of retirement plan sometime during their work life through 1998. For those ages 51-60, almost 72 percent have ever participated in a plan. The median account balance in salary reduction plans in 1998 was $14,000. In 1998, 12.9 percent of salary reduction plan participants eligible to take a loan had done so, and the average outstanding loan balance was $5
Konicz Bell, Agnieszka Karolina
their retirement savings, this thesis presents some optimization techniques that could be applied by pension providers and financial advisers to provide individuals with such guidelines. For a given objective function and a number of constraints, we search for the optimal solution, which indicates, for example...... investigate the optimal annuity choice under inflation risk, which is often ignored both by practitioners advising on the retirement planning and by scholars investigating the consumption-investment problems. We search for an optimal level of retirement income in real terms, given investment opportunities...... in inflation-linked, nominal, and variable annuities, as well as in stocks and bonds. Our findings show that real annuities are a crucial asset in every portfolio, and that trying to hedge inflation without investing in inflation-linked products leads to a lower and more volatile retirement income. In the last...
Kock, Tan Hoe; Yoong, Folk Jee
This article draws upon expected retirement age cohorts as a main determinant to financial planning preparation in Malaysia. The return rate was 55% from 600 questionnaires distributed. Five hypotheses were analyzed using hierarchical and stepwise regression analysis. The results revealed that expected retirement age cohort variables made…
Full Text Available This article presents the results of a research aimed to identify whether students of specialization of a higher education institution of Rio Grande do Sul held a personal financial planning for retirement. Yet, through this study it was sought to determine how these students do their financial planning for retirement, and those who do not realize it why they do not. To develop this study, the method used had quantitative and descriptive approach, the results were obtained through a research conducted in the first half of 2015 with 166 students in 11 courses of specialization of a higher education institution. As a result, it was found that less than half of respondents hold a financial planning for retirement, the majority uses the private pension as a major investment for such planning and that those who do not realize allege the lack of resources to save and invest or, yet, they consider themselves too young to start this planning, but it was found that the vast majority of participants do not realize that financial planning for retirement plan to do it. Still, it was contacted that the level of knowledge of personal finance and items related to social security is greatest among participants who hold a personal financial planning for retirement.
Jacob Bikker; Jan de Dreu
Administrative and investment costs per participant appear to vary widely across pension funds. These costs are important because they reduce the rate of return on the investments of pension funds and consequently raise the cost of retirement security. This paper examines the impact of determinants of these costs, such as the size, governance, pension plan design and outsourcing decisions, using data on all Dutch pension funds across the 1992-2004 period, including more than 10,000 observatio...
sector had a defined benefit pension plan. However, in the 1980s, due to the high cost of funding defined benefit plans, corporations began to favor a...rate in February 2017 was 5.6%. Dave Ramsey (n.d.), a personal finance expert, recommends individuals save at least 15% of their income for retirement...is explicitly clear that “service members are responsible for their personal finances ” (DOD, 2012, p. 15). The FRS offers personal financial
Contemporary retirement research endeavours to identify the complex antecedents and consequences of retirement decisions and retirement planning. However, few research studies have examined how retirement decisions and planning behaviours have been implemented, nor has there been any significant research investigating the impact of the complex interactions that occur between individual traits and matching or non-matching strategic preferences on retirement outcomes. This research progra...
Nurul Shahnaz Mahdzan
Full Text Available The two objectives of this paper are to examine the effect of financial literacy, risk aversion and expectations on retirement planning; and, to investigate the effect of these antecedents on the retire- ment portfolio allocation. Data was collected via a self-administered questionnaire from a sample of 270 working individuals in Kuala Lumpur, Malaysia. Logistic and ordered probit regressions were employed to analyse the first and second objective, respectively. The results from the logistic regression indicate that future expectations significantly influence the probability of planning for retirement. Meanwhile, individu- als with higher financial literacy and lower risk aversion are more likely to hold risky assets in their retirement portfolios. Subsequently, two-sample t-test and one-way ANOVA tests were conducted to further examine the differences in financial literacy, risk aversion and expectations, across demographic sub-groups. The study contributes to the literature by holistically incorporating the behavioural aspects that affect retirement planning and by exploring an uncharted issue of retirement planning—namely, the retirement portfolio allocation.
Thorsen, Sannie; Rugulies, Reiner; Løngaard, Katja
The aim of this study was to examine the association between psychosocial factors (in particular ageism) at the workplace and older workers' retirement plans, while taking health and workability of the employee into account.......The aim of this study was to examine the association between psychosocial factors (in particular ageism) at the workplace and older workers' retirement plans, while taking health and workability of the employee into account....
... toward retirement under the Teachers Plan. She had 3 months and 18 days of excess leave without pay as of... benefit payment determined with respect to the individual shall be an amount equal to the deferred... on the day before the commencement of disability retirement benefits.'' Example 3 in Appendix A...
van Dam, Karen; van der Vorst, Janine D.M.; van der Heijden, Beatrice
This study investigated the early retirement intentions of 346 older Dutch employees by extending the theory of planned behavior with anticipated work conditions. The results showed that employees who felt a pressure from their spouse to retire early had a strong intention to leave the work force
Mills, Andrew D. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Wiser, Ryan H. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Seel, Joachim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
This paper synthesizes available data on historical and planned power plant retirements. Specifically, we present data on historical generation capacity additions and retirements over time, and the types of plants recently retired and planned for retirement. We then present data on the age of plants that have recently retired or that have plans to retire. We also review the characteristics of plants that recently retired or plan to retire vs. those that continue to operate, focusing on plant size, age, heat rate, and SO2 emissions. Finally, we show the level of recent thermal plant retirements on a regional basis and correlate those data with a subset of possible factors that may be contributing to retirement decisions. This basic data synthesis cannot be used to precisely estimate the relative magnitude of retirement drivers. Nor do we explore every possible driver for retirement decisions. Moreover, future retirement decisions may be influenced by different factors than those that have affected past decisions. Nonetheless, it is clear that recently retired plants are relatively old, and that plants with stated planned retirement dates are—on average—no younger. We observe that retired plants are smaller, older, less efficient, and more polluting than operating plants. Based on simple correlation graphics, the strongest predictors of regional retirement differences appear to include SO2 emissions rates (for coal), planning reserve margins (for all thermal units), variations in load growth or contraction (for all thermal units), and the age of older thermal plans (for all thermal units). Additional apparent predictors of regional retirements include the ratio of coal to gas prices and delivered natural gas prices. Other factors appear to have played lesser roles, including the penetration variable renewable energy (VRE), recent non-VRE capacity additions, and whether the region hosts an ISO/RTO.
Griffin, Barbara; Loe, David; Hesketh, Beryl
This study developed and tested a model to identify the predictors of retirement planning based on an extension of the theory of planned behavior ([TPB], Ajzen, 1991) that included individual differences in proactivity and time discounting. The results showed that personal attitudes, sense of control, social influence, and stable traits have a…
Jack M. Mintz
Full Text Available The 2008-2009 economic crisis dealt a serious blow to Canadians’ retirement savings. While markets have since partially recovered, the ratio of Canadians’ household net-worth relative to disposable income still remains below where it was in 2007. So much wealth that workers had accumulated to prepare for retirement has been wiped away, while the years since 2008 that might have otherwise been spent compounding retirement savings have been spent, instead, on trying to recover losses in a low-interest-rate environment that has limited returns. With large waves of older workers approaching retirement age, and these future retirees projected to live longer than previous cohorts, Canada now faces the very realistic scenario that a significant number of people will reach retirement age without the funds they will need to provide a comfortable post-working-life income. Canadian policy-makers may not have the ability to restore that destroyed wealth. And with most governments already struggling to resolve serious deficits, the situation is not likely to be ameliorated with anything that requires additional spending, or that could reduce tax revenues. But there are policy reforms available that can help at least in better preparing the coming waves of retirees for a financially secure retirement. The reforms need not be far-reaching to have a meaningful impact. And they need not be costly, either. They can include a modest expansion of the Canada Pension Plan (CPP to allow larger contributions — shared by employers and employees, or covered entirely by employees — that would, in turn, allow retiring workers to draw a larger maximum pension, rather than having to rely on the guaranteed income supplement (GIS. CPP contributions could also be made deductible from taxable income, like RRSP investments, to encourage workers to maximize contributions. To minimize an increase in payroll taxes, the eligibility age for CPP benefits could be increased to
Jeffrey R. Brown
This paper discusses the role of annuities in retirement planning. It begins by explaining the basic theory underlying the individual welfare gains available from annuitizing resources in retirement. It then contrasts these findings with the empirical findings that so few consumers behave in a manner that is consistent with them placing a high value on annuities. After reviewing the strengths and weaknesses of the large literature that seeks to reconcile these findings through richer extensio...
be made. However, others have argued that past modifications intended to save money have had a deleterious effect on military recruiting and...Savings Plan (TSP) coupled with government matching and early vesting. It will also reduce the defined benefit multiplier for calculating the retirement...In addition, some have argued that past modifications to the system intended to save money have had a deleterious effect on military recruiting and
Jonathan R. Kesselman
Full Text Available Current and growing deficiencies in many workers’ ability to maintain their accustomed living standards in retirement have evoked varied proposals for reform of Canada’s retirement income system. This study focuses on proposals for expanding the retirement benefits of the Canada Pension Plan (CPP, and undertakes comparative analysis with proposals for reforms affecting workplace pensions and individual savings. It begins by reviewing key policy questions for the retirement income system and describing essential features of several proposals for CPP benefit expansion. It then uses these “Big CPP” proposals as a basis to assess the design issues for expanding CPP benefits and the implications for other components of the retirement income system. The paper assesses each of the major private and public savings vehicles based on multifaceted criteria for a well-performing retirement income system; a mandatory public scheme with defined benefits ranks most highly on almost all criteria other than individual flexibility. Additional behavioural and institutional factors also support the use of mandatory public pensions: myopia in savings, individual investment behaviour, scale economies and costs of fund management, adverse selection and annuitization costs, the Samaritan’s Dilemma, and labour market incentives. The study provides an overview analysis of key design issues for the expansion of CPP retirement benefits. Major issues include the desirable scale of expansion for both the percentage of insurable earnings and the insurable earnings ceiling; mandatory versus voluntary coverage and options; the allocation of investment return risk; and the phasing-in of higher premiums and benefits. The study then assesses the implications of CPP expansion for other components of the retirement income system: Old Age Security and the Guaranteed Income Supplement, workplace pensions, tax provisions for savings, and individual savings. A Big CPP fits
... receipt of a bachelor's or higher degree in either actuarial mathematics or another area which include at..., actuarial mathematics, and other areas determined by the Joint Board. These regulations provide that an... Governing the Performance of Actuarial Services Under the Employee Retirement Income Security Act of 1974...
R.J.G. van Schie (Ron); B.G.C. Dellaert (Benedict); A.C.D. Donkers (Bas)
textabstractIndividuals’ planned retirement age is affected by a trade-off between financial costs (a feasibility oriented consideration) and the number of years in retirement (a desirability oriented consideration). Previous research shows that construal level interventions (i.e., activating a
Kojola, Erik; Moen, Phyllis
Standard pathways for work and retirement are being transformed as the large Boomer cohort moves through typical retirement ages during a moment of economic, social and political change. People are delaying retirement and moving into and out of paid work as the standard lock-step retirement becomes less dominant. However, little research has explored how and why Boomers are taking on these diverse pathways in their later careers. Accordingly, we conduct in-depth interviews with working and retired white-collar Boomers, exploring how they are working and the meanings and motivations for their decisions and plans in their later careers. We find that there is no single dominant pattern for retirement, but rather a diverse mix of pathways shaped by occupational identities, finances, health and perceptions of retirement. Boomers express a desire to have control over their time and to find meaning and purpose in either paid or unpaid activities. However, life course transitions, normative cultural scripts, and gender and class locations as well as workplace and social policies constrain their decisions and plans. Copyright © 2016 Elsevier Inc. All rights reserved.
... retirement plans. 2550.404a-2 Section 2550.404a-2 Labor Regulations Relating to Labor (Continued) EMPLOYEE... RETIREMENT INCOME SECURITY ACT OF 1974 RULES AND REGULATIONS FOR FIDUCIARY RESPONSIBILITY § 2550.404a-2 Safe..., whether or not such return is guaranteed, consistent with liquidity; (ii) For purposes of paragraph (c)(3...
Shanafelt, Tait D; Raymond, Marilyn; Kosty, Michael; Satele, Daniel; Horn, Leora; Pippen, John; Chu, Quyen; Chew, Helen; Clark, William Benton; Hanley, Amy E; Sloan, Jeff; Gradishar, William J
To evaluate satisfaction with work-life balance (WLB) and career plans of US oncologists. The American Society of Clinical Oncology conducted a survey of US oncologists evaluating satisfaction with WLB and career plans between October 2012 and March 2013. The sample included equal numbers of men and women from all career stages. Of 2,998 oncologists contacted, 1,490 (49.7%) returned surveys. From 1,117 oncologists (37.3% of overall sample) completing full-length surveys, we evaluated satisfaction with WLB and career plans among the 1,058 who were not yet retired. The proportion of oncologists satisfied with WLB (n = 345; 33.4%) ranked lower than that reported for all other medical specialties in a recent national study. Regarding career plans, 270 oncologists (26.5%) reported a moderate or higher likelihood of reducing their clinical work hours in the next 12 months, 351 (34.3%) indicated a moderate or higher likelihood of leaving their current position within 24 months, and 273 (28.5%) planned to retire before 65 years of age. Multivariable analyses found women oncologists (odds ratio [OR], 0.458; P hour, 0.977; P work hours and leave current position on multivariable analysis. Satisfaction with WLB among US oncologists seems lower than for other medical specialties. Dissatisfaction with WLB shows a strong relationship with plans to reduce hours and leave current practice. Given the pending US oncologist shortage, additional studies exploring interactions among WLB, burnout, and career satisfaction and their impact on career and retirement plans are warranted.
TAX PROPOSALS: Currently, the combination of worker and employer contributions in a defined contribution plan is capped by the federal tax code at the lesser of $49,000 per year or 100 percent of a worker's compensation (participants over age 50 can make additional "catch-up" contributions). As part of the effort to lower the federal deficit and reduce federal "tax expenditures," two major reform proposals have surfaced that would change current tax policy toward retirement savings: A plan that would end the existing tax deductions for 401(k) contributions and replace them with a flat-rate refundable credit that serves as a matching contribution into a retirement savings account. The so-called "20/20 cap," included by the National Commission on Fiscal Responsibility and Reform in their December 2010 report, "The Moment of Truth," which would limit the sum of employer and worker annual contributions to the lower of $20,000 or 20 percent of income, the so-called "20/20 cap." IMPACT OF PERMANENTLY MODIFYING THE EXCLUSION OF EMPLOYEE CONTRIBUTIONS FOR RETIREMENT SAVINGS PLANS FROM TAXABLE INCOME: If the current exclusion of worker contributions for retirement savings plans were ended in 2012 and the total match remains constant, the average reductions in 401(k) accounts at Social Security normal retirement age would range from a low of 11.2 percent for workers currently ages 26-35 in the highest-income groups, to a high of 24.2 percent for workers in that age range in the lowest-income group. IMPACT OF "20/20 CAP": Earlier EBRI analysis of enacting the 20/20 cap starting in 2012 showed it would, as expected, most affect those with high income. However, EBRI also found the cap would cause a significant reduction in retirement savings by the lowest-income workers as well, and younger cohorts would experience larger reductions given their increased exposure to the proposal. IMPORTANCE OF EMPLOYER-SPONSORED RETIREMENT PLANS AND AUTO-ENROLLMENT: A key factor in future
Datta Gupta, Nabanita; Larsen, Mona
We investigate the effect of an acute health shock on retirement among elderly male workers in Denmark, 1991-1999, and in particular whether various welfare state programs and institutions impinge on the retirement effect. The results show that an acute health event increases the retirement chances...... significant. For the most part, the retirement effect following a health shock seems to be immune to the availability of a multitude of government programs for older workers in Denmark....... benefits in Denmark nor by the promotion of corporate social responsibility initiatives since the mid-1990s. In the late 1990s, however, the retirement rate following a health shock is reduced to 3% with the introduction of the subsidized employment program (fleksjob) but this effect is not strongly...
França, Lucia H F; Hershey, Douglas A
In this investigation, we attempt to replicate the Interdisciplinary Financial Planning Model advanced by Hershey et al. (International Journal of Aging and Human Development, 70, 1-38, 2010) using a sample of Brazilian adults. This model, which was originally tested on individuals from The Netherlands and the United States, posits that psychological, social, and economic forces are key determinants of retirement planning practices and perceptions of saving adequacy. Taken together, fifteen hypotheses were subject to evaluation. Participants were 167 Brazilian working adults, 21-69 years of age, who were married or cohabitating at the time of testing. A path analysis model showed substantial support for the theoretical framework, with all variables found to contribute directly or indirectly to the prediction of financial planning and saving adequacy. Furthermore, two new paths were found to emerge in the Brazilian model that were not observed in the original investigation. This cross-national replication of the Interdisciplinary Financial Planning Model extends research on the topic to a developing country in which relatively few empirical studies of retirement planning have been carried out. Other analyses in the article focus on direct comparisons between the Brazilian model and the models developed based on American and Dutch respondents, with an eye toward better understanding how cultural forces shape the retirement planning process. The discussion focuses on how models of financial planning, such as the Hershey et al. (2010) model, can inform the development of savings-oriented education and intervention programs.
Day, David S.; And Others
This article examines the retirement plans and personal characteristics of 273 senior law school faculty, focusing on health status, income, job satisfaction, and preferred age of retirement. The study suggests that early retirement incentives and a "senior faculty" alternative to full retirement are positive institutional options. (DB)
Chingos, Matthew M.; West, Martin R.
Since 2002, public school teachers in Florida have been permitted to choose between a defined benefit (DB) and a defined contribution (DC) retirement plan. We exploit this unique policy environment to study new teachers' revealed preferences over pension plan structures. Roughly 30 percent of teachers hired between 2003 and 2008 selected the DC…
LATEST SCF DATA: This Issue Brief assesses the current status of Americans' savings for retirement by examining the incidence of individual account plans among families, as well as the average amount of assets accumulated in these accounts. The 2007 Survey of Consumer Finances (SCF), the Federal Reserve Board's triennial survey of wealth, is the basis for this study, as it is a leading source of data on Americans' wealth, provides detailed information on retirement plan incidence and account balances among families, and is the latest available. ACCOUNTING FOR THE ECONOMIC DOWNTURN: While 2007 SCF is the most comprehensive and current survey of Americans' finances, its timing was unfortunate due to the significant downturn in the economy in 2008 just after the survey was released. To account for that change, this analysis provides estimates of the changes in asset values from the end of 2007 to mid-June 2009 for individual account plan balances. The account balances of the defined contribution plans and IRAs are adjusted based on the asset allocation reported within the plans by using equity market returns and bond market returns from January 1, 2008, to June 19, 2009. MEDIAN ASSET LEVELS FOR DEFINED CONTRIBUTION PLANS: Among all families with a defined contribution plan in 2007, the median (mid-point) plan balance was $31,800, up 16 percent from 2004. According to EBRI estimates, this dropped 16.4 percent (to $26,578) from year-end 2007 to mid-June 2009. Losses were higher for families with more than $100,000 a year in income (down 22 percent) or having a net worth in the top 10 percent (down 28 percent). MEDIAN ASSET LEVELS FOR IRA/KEOGH PLANS: Among all families with an IRA/Keogh plan, the median value of their plan was $34,000 in 2007, up 3 percent from 2004. EBRI estimates this median value dropped 15 percent (to $28,955) from year-end 2007 to mid-June 2009. LESS THAN HALF OF ALL FAMILIES HAVE A RETIREMENT PLAN THROUGH A CURRENT JOB: In 2007, 40.6 percent of
This study examined how retirement planning information search was related to retirement savings of working women. By controlling for sociodemographic variables, the study further explored factors associated with individual information sources for retirement planning. An online survey was developed to collect data from a national population,…
... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Inclusion of medical benefits for retired...-Sharing, Stock Bonus Plans, Etc. § 1.401-14 Inclusion of medical benefits for retired employees in... employer providing such medical benefits by reason of permanent disability. For purposes of the preceding...
Gubler, Timothy; Pierce, Lamar
Are poor physical and financial health driven by the same underlying psychological factors? We found that the decision to contribute to a 401(k) retirement plan predicted whether an individual acted to correct poor physical-health indicators revealed during an employer-sponsored health examination. Using this examination as a quasi-exogenous shock to employees' personal-health knowledge, we examined which employees were more likely to improve their health, controlling for differences in initial health, demographics, job type, and income. We found that existing retirement-contribution patterns and future health improvements were highly correlated. Employees who saved for the future by contributing to a 401(k) showed improvements in their abnormal blood-test results and health behaviors approximately 27% more often than noncontributors did. These findings are consistent with an underlying individual time-discounting trait that is both difficult to change and domain interdependent, and that predicts long-term individual behaviors in multiple dimensions. © The Author(s) 2014.
Mooney, Anna; Earl, Joanne K.; Mooney, Carl H.; Bateman, Hazel
The notion of whether people focus on the past, present or future, and how it shapes their behavior is known as Time Perspective. Fundamental to the work of two of its earliest proponents, Zimbardo and Boyd (2008), was the concept of balanced time perspective and its relationship to wellness. A person with balanced time perspective can be expected to have a flexible temporal focus of mostly positive orientations (past-positive, present-hedonistic, and future) and much less negative orientations (past-negative and present-fatalistic). This study measured deviation from balanced time perspective (DBTP: Zhang et al., 2013) in a sample of 243 mature adults aged 45 to 91 years and explored relationships to Retirement Planning, Depression, Anxiety, Stress, Positive Mood, and Negative Mood. Results indicate that DBTP accounts for unexplained variance in the outcome measures even after controlling for demographic variables. DBTP was negatively related to Retirement Planning and Positive Mood and positively related to Depression, Anxiety, Stress, and Negative Mood. Theoretical and practical implications regarding balanced time perspective are discussed. PMID:29081757
Mooney, Anna; Earl, Joanne K; Mooney, Carl H; Bateman, Hazel
The notion of whether people focus on the past, present or future, and how it shapes their behavior is known as Time Perspective. Fundamental to the work of two of its earliest proponents, Zimbardo and Boyd (2008), was the concept of balanced time perspective and its relationship to wellness. A person with balanced time perspective can be expected to have a flexible temporal focus of mostly positive orientations (past-positive, present-hedonistic, and future) and much less negative orientations (past-negative and present-fatalistic). This study measured deviation from balanced time perspective (DBTP: Zhang et al., 2013) in a sample of 243 mature adults aged 45 to 91 years and explored relationships to Retirement Planning, Depression, Anxiety, Stress, Positive Mood, and Negative Mood. Results indicate that DBTP accounts for unexplained variance in the outcome measures even after controlling for demographic variables. DBTP was negatively related to Retirement Planning and Positive Mood and positively related to Depression, Anxiety, Stress, and Negative Mood. Theoretical and practical implications regarding balanced time perspective are discussed.
Full Text Available The notion of whether people focus on the past, present or future, and how it shapes their behavior is known as Time Perspective. Fundamental to the work of two of its earliest proponents, Zimbardo and Boyd (2008, was the concept of balanced time perspective and its relationship to wellness. A person with balanced time perspective can be expected to have a flexible temporal focus of mostly positive orientations (past-positive, present-hedonistic, and future and much less negative orientations (past-negative and present-fatalistic. This study measured deviation from balanced time perspective (DBTP: Zhang et al., 2013 in a sample of 243 mature adults aged 45 to 91 years and explored relationships to Retirement Planning, Depression, Anxiety, Stress, Positive Mood, and Negative Mood. Results indicate that DBTP accounts for unexplained variance in the outcome measures even after controlling for demographic variables. DBTP was negatively related to Retirement Planning and Positive Mood and positively related to Depression, Anxiety, Stress, and Negative Mood. Theoretical and practical implications regarding balanced time perspective are discussed.
Prast, Henriette; van Soest, Arthur
To meet the challenges of an ageing population, eligibility ages for state pensions have increased, early retirement arrangements have been abolished, and a substantial part of the risk and responsibility for an adequate standard of living after retirement has been shifted from the government,
Rappaport, Anna M
Employers can and should take steps to support retirement and financial wellness. This article provides a framework for retirement wellness informed by research conducted or supported by the Society of Actuaries. Research insights about Americans' finances, planning, decisions, money management, debt, retiree income shocks and other areas point to ways employers can provide retirement wellness support as a vital part of an overall benefit program. The author suggests several key considerations employers should pay attention to in order to improve retirement wellness.
Bastable, C. W.; Brady, Gerald P.
The various retirement income options available to TIAA-CREF participants and federal taxes on each option are explained. The importance of early planning for retirement income is stressed and it is suggested that assessment of future financial needs will indicate the most appropriate settlement mode for retirement. (SF)
Datta Gupta, Nabanita; Larsen, Mona
provides evidence that men's self-report of myalgia and back problems and women's self-report of osteoarthritis possibly yield biased estimates of the impact on planned retirement age, and that this bias ranges between 1.5 and 2 years, suggesting that users of survey data should be wary of applying self...
The most significant change to private sector as well as civil service employee retirement systems over the past 15 years has been the transition from defined benefit to defined contribution retirement plans...
Luecke, Randall W; Reinstein, Alan
Statement of Financial Accounting Standards (SFAS) No. 143 requires organizations to recognize a liability for an asset retirement obligation when it is incurred--even if that occurs far in advance of the asset's planned retirement. For example, organizations must recognize future costs associated with medical equipment disposal that carries hazardous material legal obligations.
Stewart, F M J; Drummond, J R; Carson, L; Theaker, E D
To gather information from senior dental students about their future career plans, with particular emphasis on work-life balance issues, their attitudes towards the NHS and retirement plans. Senior dental students at the Universities of Dundee and Manchester were asked to complete a voluntary anonymous questionnaire. In all 141 questionnaires were completed, 42 by students in Manchester and 114 in Dundee. On qualification nearly all surveyed intend to work full time but after five years one quarter (26%) of females intend to work part time. This is significantly (p work full time. Although the majority (65%) intend to work in general practice significant numbers (19%) wish to have a career in hospital dentistry and very few (3%) in community dentistry. Senior students seem to show no more commitment to the NHS than those in our previous study of dental school applicants. Only 3% intend to work exclusively for the NHS and 18% intend to work exclusively in the private sector. Surprising numbers had plans to retire or go part time before 60 years of age. Only 20% of the sample intended to continue working full time after the age of 60 years. The mode age that those surveyed intended to start a family was 30 years and a large majority of both sexes thought this would interrupt their professional life. More than half of the sample intend to take time out of dentistry until their children attended primary school (female 63%, male 38%) and 6% (female 6%, male 8%) until secondary school. Many of our findings suggest that future generations of dentists may have a pattern of professional life that will have the effect of reducing their clinical commitment, although it is not possible to determine how significant an effect this will have on the workforce. It may, however, be appropriate to take career intention into account when workforce planning.
.... It demonstrates that the inequity of the military retirement system is compounded by the fact that although the system does not comply with the minimum standards required of private-sector retirement...
Hardy, M A; Quadagno, J
In recent decades, the expanded availability of early retirement incentive plans has allowed an increasing number of workers to retire at an age younger than normally allowed by their pension plans. On the surface, these retirement incentives appear to offer older workers more flexibility in deciding when to retire. However, the offer of early retirement incentives frequently occurs when employers are attempting to reduce employment; therefore, the opportunity for early retirement may be counterbalanced by downsizing goals that place older workers' continued employment in jeopardy. Early retirement incentive programs are thereby characterized by an unusual combination of inducement and coercion. In this study, we examined how the structure of the early retirement program shapes the way older male auto workers evaluate their retirement transitions. We conclude that the structure of the early retirement program, the timing of the retirement decision, and job security are important in framing the retirement transition and in distinguishing levels of satisfaction with the retirement experience.
M.Comm. Pension funds have risen to great prominence in the last two decades because they provide a service that fits the needs of individuals. The community at large are rapidly accepting and demanding facilities for proper retirement planning. Employees contribute towards retirement funds and their contributions are tax deductible while taxable to the employee upon retirement, generally at a lower rate. The employer, who has instituted the retirement fund, owes the fund because the emplo...
Puryer, J; Patel, A
Aim To investigate the career intentions, work-life balance and retirement plans of dental undergraduates at the University of Bristol in 2015.Method Cross-sectional survey of 210 clinical undergraduates using an anonymous self-report questionnaire.Results The response rate was 79%. The majority (81.7%) were 'satisfied' or 'extremely satisfied' with their choice of career. The majority (78.7%) felt men and women are equally likely to succeed in dentistry, although 42.9% felt men had an advantage over women with regards to career success. The majority (81.6%) intend on working within general practice, 11.3% within hospital dental services and 2.1% within community dental services. The majority (70.5%) intend to specialise within dentistry. Only 1.8% of participants intend on providing only National Health Service (NHS) dental treatment whereas the 86.5% would provide both NHS and private dental treatment. Fifteen years after qualifying, 52.2% plan to work part-time, and 37.8% intend on retiring at the age of 60 or below. The majority (86.6%) felt that childcare should be shared equally between both parents. Female students intend to take more time out of their career to concentrate on childcare and felt that having a child would affect their career more than males.Conclusion The anticipated career plans, work-life balance and retirement plans of undergraduates change over time, and further research should be carried out to monitor future career intentions of dental students in order to help with dental workforce planning.
Martin, Patricia P
One measure of the adequacy of retirement income is replacement rate - the percentage of pre-retirement salary that is available to a worker in retirement. This article compares salary replacement rates for private-sector employees of medium and large private establishments with those for federal employees under the Civil Service Retirement System and the Federal Employees Retirement System. Because there is no standard benefit formula to represent the variety of formulas available in the private sector, a composite defined benefit formula was developed using the characteristics of plans summarized in the Bureau of Labor Statistics Medium and Large Employer Plan Survey. The resulting "typical" private-sector defined benefit plan, with an accompanying defined contribution plan, was then compared with the two federal systems. The Civil Service Retirement System (CSRS) is a stand-alone defined benefit plan whose participants are not covered by Social Security. Until passage of the 1983 Amendments to Social Security Act, it was the only retirement plan for most federal civilian employees. Provisions of the 1983 Amendments were designed to restore long-term financial stability to the Social Security trust funds. One provision created the Federal Employees Retirement System (FERS), which covers federal employees hired after 1983. It was one of the provisions designed to restore long-term financial stability to the Social Security trust funds. FERS employees contribute to and are covered by Social Security. FERS, which is a defined benefit plan, also includes a basic benefit and a 401(k)-type plan known as the Thrift Savings Plan (TSP). To compare how retirees would fare under the three different retirement systems, benefits of employees retiring at age 65 with 35 years of service were calculated using hypothetical workers with steady earnings. Workers were classified according to a percentage of the average wage in the economy: low earners (45 percent), average earners
Orel, Nancy A; Ford, Ruth A; Brock, Charlene
Providing care for an aged parent has immediate financial, emotional, psychological, and physical consequences for the primary caregiver. This pilot study of 138 middle aged and older females analyzes the long term financial consequences of providing care to aged relatives for female caregivers. The impact of this disruptive life event (e.g., caring for an aged relative) on retirement planning among middle aged and older adult women was analyzed using quantitative data collected from women residing in the Midwest region of the United States.
Serebruany, Victor L; Dinicolantonio, James J
Ticagrelor (Brilinta®) is a new oral reversible antiplatelet agent approved by the FDA in July 2011 based on the results of the PLATO (Platelet Inhibition and Patient Outcomes) trial. However, despite very favorable and broad indications, the current clinical utilization of ticagrelor is woefully small. We aimed to compare ticagrelor formulary tiers for major private (n = 8) and government-funded (n = 4) insurance providers for 2012-2013. Over the last year, ticagrelor placement improved, becoming a preferred drug (from Tier 3 in 2012 to Tier 2 in 2013) for Medco, moving from Tier 4 (with a prior approval requirement) to Tier 3 (no prior approval) for the United Health Care Private Plan and achieving Tier 3 status for Apex in 2013. In contrast, ticagrelor placement did not improve for New York Medicaid, retaining Tier 3 status. In addition, many Medicare Part D formularies have significantly worse coverage than most private plans. For example, Humana Medicare Part D has Tier 3 status requiring step therapy and quantity limits, SilverScript (CVS Caremark) Part D is Tier 3 and the American Association of Retired Persons (United Health Care) Medicare Part D is Tier 4 requiring prior approval. Ticagrelor formulary placement is significantly better for most private providers than for government-funded plans, which may possibly be due to the selective targeting of private insurance providers and the simultaneous avoidance of government-funded plans. © 2013 S. Karger AG, Basel.
Zick, Cathleen D; Mayer, Robert N; Smith, Ken R
Retirement confidence is a key social barometer. In this article, we examine how personal and parental health histories relate to working-age adults' feelings of optimism or pessimism about their overall retirement prospects. This study links survey data on retirement planning with information on respondents' own health histories and those of their parents. The multivariate models control for the respondents' socio-demographic and economic characteristics along with past retirement planning activities when estimating the relationships between family health histories and retirement confidence. Retirement confidence is inversely related to parental history of cancer and cardiovascular disease but not to personal health history. In contrast, retirement confidence is positively associated with both parents being deceased. As members of the public become increasingly aware of how genetics and other family factors affect intergenerational transmission of chronic diseases, it is likely that the link between family health histories and retirement confidence will intensify. © The Author(s) 2015.
The landscape of public education retirement plans is in an upheaval. A variety of economic, demographic, and political factors make it increasingly difficult for defined-benefit pension plans alone to provide educators with an adequate retirement. As a result, for the nearly seven million educators in America's public primary and secondary…
Keele, Shanna; Alpert, Patricia T
This integrative literature review examined the current research on RN retirement. The review identified 3 critical gaps in knowledge: (a) minimal knowledge regarding the economic impact on RN retirement, (b) incomplete information regarding the demographics of RN retirement, and (c) a scarcity of prospective longitudinal RN workforce studies. Future research must address these gaps to better address RN workforce sustainability.
Yang, J M
In early 1961 special representatives of the International Planned Parenthood Federation (IPPF) organized the Planned Parenthood Federation of Korea (PPFK). The leaders, mostly young university professors, physicians, and government officials well recognized in the fields of public health gynecology/obstetrics, pediatrics, nursing, sociology, social work, and economics, shared an interest in improving the national economy, the national welfare, countermeasures against the population crisis, and the urgent need for family planning services in Korea. The leadership of General Park Chung-hee led to adoption of a national policy in support of family planning at an early stage in November 1961. Since 1961, the government budget for family planning has doubled every year. The PPFK was asked to play a major role in planning, administration, training, information, and education of the national program until the government established the new section of Maternal and Child Health in the Ministry of Health and Social Affairs in 1963. The role of the PPFK has never diminished. The training of family planning personnel at various levels is still carried out entirely by the PPFK. The PPFK operates mobile vans to provide educational activities, IUD insertions, and male sterilization services to people in villages without doctors. The PPFK operates pilot projects to test new methods either in clinics or in the field. The PPFK exists to supplement and cooperate with the government in family planning. With its flexibility, the PPFK team of experts stands ready to provide quick and positive services without red tape.
... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Individual retirement annuities. 1.408-3 Section... (CONTINUED) INCOME TAXES Pension, Profit-Sharing, Stock Bonus Plans, Etc. § 1.408-3 Individual retirement annuities. (a) In general. An individual retirement annuity is an annuity contract or endowment contract...
Rafalski, Julia C; Noone, Jack H; O'Loughlin, Kate; de Andrade, Alexsandro L
Retirement research is now expanding beyond the post-World War II baby boomers' retirement attitudes and plans to include the nature of their workforce exit and how successfully they adjust to their new life. These elements are collectively known as the process of retirement. However, there is insufficient research in developing countries to inform the management of their ageing populations regarding this process. This review aims to facilitate national and cross-cultural research in developing and non-English speaking countries by reviewing the existing measures of the retirement process published in English and Portuguese. The review identified 28 existing measures assessing retirement attitudes, planning, decision making, adjustment and satisfaction with retirement. Information on each scale's item structure, internal reliability, grammatical structure and evidence of translations to other languages is presented. Of the 28 measures, 20 assessed retirement attitudes, plans and decision-making, 5 assessed adjustment to retirement and only two assessed retirement satisfaction. Only eight of the 28 scales had been translated into languages other than English. There is scope to translate measures of retirement attitudes and planning into other languages. However there is a paucity of translated measures of retirement decision-making and adjustment, and measures of retirement satisfaction in general. Within the limitations of this review, researchers are provided with the background to decide between translating existing measures or developing of more culturally appropriate assessment tools for addressing their research questions.
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Full Text Available We consider the financial planning problem of a retiree wishing to enter a retirement village at a future uncertain date. The date of entry is determined by the retiree’s utility and bequest maximisation problem within the context of uncertain future health states. In addition, the retiree must choose optimal consumption, investment, bequest and purchase of insurance products prior to their full annuitisation on entry to the retirement village. A hyperbolic absolute risk-aversion (HARA utility function is used to allow necessary consumption for basic living and medical costs. The retirement village will typically require an initial deposit upon entry. This threshold wealth requirement leads to exercising the replication of an American put option at the uncertain stopping time. From our numerical results, active insurance and annuity markets are shown to be a critical aspect in retirement planning.
DiCenzo, Jodi; Fronstin, Paul
Employment-based health and retirement benefit programs have followed a similar path of evolution. The relative decision-making roles of the employer and the worker have shifted from the employer to the worker, and workers are more responsible than perhaps they ever have been for their well being--both in terms of their health in general and their financial security during retirement. This shift has been supported, in part, by legislation--namely ERISA, the HMO Act of 1973, the Revenue Act of 1978, and most recently, the Pension Protection Act. This Issue Brief does not pass judgment on this development or address who should bear the responsibilities of preparing workers for retirement or of rationing health care services. The current trend in health care design is toward increased "consumerism." Consumer-driven health is based on the assumption that the combination of greater cost sharing (by workers) and better information about the cost and quality of health care will engage workers to become better health care decision makers. It is hoped that workers will seek important, necessary, high-quality, cost-effective care and services, and become less likely to engage providers and services that are unnecessary and ineffective from either a quality or cost perspective. As employers look ahead toward continually improved plan design, there may be benefits in considering the lessons learned from studying worker behaviors. Specifically, there is evidence about the effects of choice, financial incentives, and information on worker decision making. As a result of research in this area, many retirement plan sponsors have moved toward plan designs and programs that recognize the benefits of well-designed defaults, simplified choices, required active decision making, framing, and commitment to future improvements. With respect to choice, it is now known that more is not always better and may even be worse in some cases. Just as fewer shoppers actually bought a jar of jelly
retirement authority across all branches of service (USD(P&R), 2011). After World War II, the Navy faced the same overpopulation of the officer ranks...early retirement list were granted their request based upon seniority (USD(P&R), 2011). 2. 1900–1937 Overpopulation of the Navy’s senior officer ranks...remained an issue up until World War I. Consequently, the policy of early retirement, created by the act of March 3, 1899, remained in place until
Beshears, John Leonard; Choi, James J.; Hurwitz, Joshua Bayard; Laibson, David I.; Madrian, Brigitte
What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-retirement liquidity is undesirable when it leads to under-saving arising from, for example, planning mistakes or self-control problems. This paper compares the liquidity that six developed economies have built into their employ...
Full Text Available Despite the fact that e-government is developed by a country which is making the first steps in this area, or state, seeking to increase effectiveness of the existing e-government tools, it is necessary to have the methodology to create a basis for the formation of strategic e-government decisions, whose implementation will meet existing citizen needs and emerged challenges which appear during continuous information communication technology transformation processes.One of the ways to respond to these requirements is the application of foresight exercises as a component of strategic e-government planning. Nevertheless in Lithuania and many other Eastern European countries, the planning process is still centralized, based on the five-year planning context. Ex communist states are behind other regions with the number of research based on the foresight methodology, so these conditions determine the lack of information in this domain and this article is a small part of the attempt to fill the existing vacuum.The main aim of this article is to analyse the foresight impact on the electronic government strategic planning process, its role in the political decision formation process and by identifying contact points of different foresight research components, in the context of e-government foresight methodology framework creation processes, to form a deeper perception on how foresight works as a system.This aim is determined by the following objectives—to analyse foresight concept, circumstances and causes of its origin, main guidelines, methods used during foresight exercises and reasons, which determine its application; also, to analyse different suggested foresight exercise approaches and according to the results of the analysis, to form a distinctive e-government foresight methodology, which can be used for already performed foresight analysis or for prototyping a planned one.Thus, the first part of the article covers the most important theoretical
The purpose of this paper is to lay part of the groundwork for a new project aimed at exploring governance aspects concerned with regional development planning (RDP) in Denmark. The fundamental objective is to help establish and clarify a number of research questions to delve into the conditions...... and opportunities for anchoring and implementing such RDP. The paper mainly adopts a descriptive approach to portray tentative pathways to explore and discuss regional governance structures, procedures and practices that are being developed in establishing new RDP processes, strategies and plans....
and planning, and promulgated it in 2001. This paper provides a critical appraisal of efforts to put local government planning into practice in Lesotho through the use of the 'Quick and SMART' local government planning model. This article uses the SWOT analysis technique to undertake a critical appraisal of this planning ...
Whitaker, Elizabeth A; Bokemeier, Janet
Financial planning for retirement is a lifelong process constrained by financial literacy, resources, and competing demands for resources across the life course. Further, social structure shapes the availability of options for funding retirement. The social and economic frameworks surrounding retirement planning are changing, and policy makers and researchers question whether retirement expectations have adapted. To explore this question, this research used k-means cluster analysis of a 2010 survey data set to identify natural groupings of Michigan adult preretirees based on their expectations of income sources for retirement. The cluster analysis identified six distinct groups that hold very different expectations. Most had expectations that are not consistent with projected changes in social structure and resource availability and those that did were more likely to occupy traditionally privileged statuses including being White, male, and married. © The Author(s) 2013.
through retirement, we estimate the annual take-home income (i.e., income after taxes ) available to each Marine under the BRS and compare it with take...Marine Corps Manpower Team Resource Analysis Division i Abstract This report examines the impact of the new military blended...retirement system (BRS) on various U.S. Marine Corps force management objectives (FMOs). We estimated the effect of the retirement system changes on active
Leandro-Franca, Cristineide; Van Solinge, Hanna; Henkens, Kene; Murta, Sheila Giardini
Studies on the effectiveness of retirement planning programs are relatively scarce. Retirement preparation and planning programs may assist individuals to smooth the transition to retirement and subsequent adjustment. This qualitative study examines the effects of three retirement preparation
Full Text Available Drawing on the model on financial planning for retirement (FPR, the aim of this work is to explore how parental economic socialization both directly and indirectly affects FPR through the mediation of financial literacy, financial planning decisions and financial management. Data from a sample of 280 participants aged between 45 and 63 years were used. The results show that parental economic socialization directly and indirectly influences FPR. Moreover, parental economic behavior acts as a positive model for the development of financial literacy and skills and for decisions about FPR. All the variables increased the explained variance of FPR. Lastly, we discuss the process by which parental economic socialization is positively related to financial literacy and skills that impact on FPR, indicating some implications and future lines of research.
Palaci, Francisco; Jiménez, Irene; Topa, Gabriela
Drawing on the model on financial planning for retirement (FPR), the aim of this work is to explore how parental economic socialization both directly and indirectly affects FPR through the mediation of financial literacy, financial planning decisions and financial management. Data from a sample of 280 participants aged between 45 and 63 years were used. The results show that parental economic socialization directly and indirectly influences FPR. Moreover, parental economic behavior acts as a positive model for the development of financial literacy and skills and for decisions about FPR. All the variables increased the explained variance of FPR. Lastly, we discuss the process by which parental economic socialization is positively related to financial literacy and skills that impact on FPR, indicating some implications and future lines of research.
Yakoboski, P; Ostuw, P; Pierron, B
As of 1995, there were 5.3 million small-employer firms (100 or fewer employees) in the United States. These small firms employed 38.0 million individuals, representing 38 percent of all employment. Therefore, low retirement plan coverage among small employers directly affects a sizeable fraction of the national work force. There are a number of reasons why more small employers do not offer retirement plans. Cost and administration-related issues do matter, but for many small employers these take a back seat to other issues. For some, the main driver is the financial reality of running a small business: Their revenue is too uncertain to commit to a plan. For others, the most important reasons for not sponsoring a plan are employee-related, e.g., the workers do not consider retirement savings to be a priority, or the employer's work force has such high turnover that it does not make sense to sponsor a plan. Many nonsponsors are unfamiliar with the different retirement plan types available to them as potential plan sponsors, especially the options created specifically for small employers. For example, most nonsponsors said they have never heard of (36 percent) or are not too familiar with (20 percent) SIMPLE plans for small businesses. Fifteen percent of small employers report that they are very likely to start a plan in the next two years, while 24 percent say this is somewhat likely. Nonsponsors report that the two items most likely to lead to serious consideration of sponsoring a plan are an increase in profits (69 percent) and business tax credits for starting a retirement plan (67 percent). Major drivers of low retirement plan sponsorship among small employers are who they employ and the uncertainty of revenue flows. While issues of administrative cost and burden matter, they are only part of the puzzle. Therefore, the solution is not simply "build it and they will come," by creating simpler and simpler retirement plans geared to small businesses. Rather, it is
Hallberg, Daniel; Johansson, Per; Josephson, Malin
This paper studies empirically the consequences on health of an early retirement offer. To this end we use a targeted retirement offer to military officers 55 years of age or older. Before the offer was implemented, the normal retirement age in the Swedish defense was 60 years of age. Estimating the effect of the offer on individuals' health within the age range 56-70, we find support for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the mandatory retirement age may thus not only have positive government income effects but also negative effects on increasing government health care expenditures. Copyright © 2015 Elsevier B.V. All rights reserved.
Full Text Available The intensity of ICT usage continues to increase. This should be accompanied by the increase of the government's performance, and one of the important components is governance of the ICT system planning. The ICT system planning with a good management will provide significant benefits to the organization. One cause of insignificant benefits ICT to the organizational goals is there is no ICT governance applied. It can be caused by many things, one of them is the lack of knowledge and awareness about the ICT governance, so there are still many government agencies which have not yet implemented properly the ICT governance. By using quantitative approaches, questionnaire instrument was adapted from the General Guide of the National ICT Governance. Framework COBIT and data analysis techniques adopted from the COBIT Maturity level. This study aims to explore the guidelines as an evaluation tool for the governance of the ICT system planning in Department of Communications and Information Technology in Bitung City. The results of this study found that the institution is still at low level, level 1 with 0,63 maturity level in governance planning of ICT system.
Connor, M.D.; Harizison, G.L.; Rice, W.C.
The SNF Project Document Management Plan identifies and describes the currently available systems and processes for implementing and maintaining an effective document control and records management program. This program governs the methods by which documents are generated, released, distributed, maintained current, retired, and ultimately disposed
When local government considers future land-use plans, the local health authorities are not always included as a key partner. In Cambridgeshire, England, the former Cambridgeshire Health Authority formed a partnership with local government to address this issue. The relationship that developed and the subsequent health impact review provided an opportunity to influence strategic policy and ensure that health objectives are taken into account. Through partnership working, lessons were learned about how to incorporate health issues into a strategic land-use planning document to the overall benefit of the community
... to flexible retirement. It also found that flexible policy will have a positive welfare effect as many employees can then take care of their extended span of dependants for a longer period and employee productivity will also be improved. Key words: Retirement, Mandatory, Flexible, Pension Plan, Extended Family System.
... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Can I cancel my FERS election if I was in the wrong retirement plan at the time I elected FERS coverage and I have an election opportunity under... ERRONEOUS RETIREMENT COVERAGE CORRECTIONS ACT Making an Election Fers Elections § 839.621 Can I cancel my...
Bogan, Vicki L; Fertig, Angela R
The questionable ability of the U.S. pension system to provide for the growing elderly population combined with the rising number of people affected by depression and other mental health issues magnifies the need to understand how these household characteristics affect retirement. Mental health problems have a large and significant negative effect on retirement savings. Specifically, psychological distress is associated with decreasing the probability of holding retirement accounts by as much as 24 percentage points and decreasing retirement savings as a share of financial assets by as much as 67 percentage points. The magnitude of these effects underscores the importance of employer management policy and government regulation of these accounts to help ensure households have adequate retirement savings. Copyright © 2017 John Wiley & Sons, Ltd.
Cristiane Pimentel Nalin
Full Text Available The increase in the elderly population has prompted research on retirement. This study investigated the importance of resilience, economic satisfaction, the length of retirement, and planning to well-being during retirement of 270 participants. The majority of this sample were men (64%, and the mean age was 65 years (SD = 5.7. The participants were retired members of 10 public and private organizations in Rio de Janeiro. Factor analysis and hierarchical regression were performed. The results showed that determined resilience (mastery, adaptability, confidence and perseverance and socioeconomic satisfaction were the main predictors of well-being in retirement and explained 28% of this model. The findings suggest that well-being in retirement is closely related to socioeconomic satisfaction and determined resilience. Additional research should address the importance of resilience for the well-being of retirees who are or not members of retirement associations. Resilience attitudes should be promoted in Retirement Education Programs.
Kerry, Matthew J; Embretson, Susan E
Future time perspective (FTP) is defined as "perceptions of the future as being limited or open-ended" (Lang and Carstensen, 2002; p. 125). The construct figures prominently in both workplace and retirement domains, but the age-predictions are competing: Workplace research predicts decreasing FTP age-change, in contrast, retirement scholars predict increasing FTP age-change. For the first time, these competing predictions are pitted in an experimental manipulation of subjective life expectancy (SLE). A sample of N = 207 older adults (age 45-60) working full-time (>30-h/week) were randomly assigned to SLE questions framed as either 'Live-to' or 'Die-by' to evaluate competing predictions for FTP. Results indicate general support for decreasing age-change in FTP, indicated by independent-sample t -tests showing lower FTP in the 'Die-by' framing condition. Further general-linear model analyses were conducted to test for interaction effects of retirement planning with experimental framings on FTP and intended retirement; While retirement planning buffered FTP's decrease, simple-effects also revealed that retirement planning increased intentions for sooner retirement, but lack of planning increased intentions for later retirement. Discussion centers on practical implications of our findings and consequences validity evidence in future empirical research of FTP in both workplace and retirement domains.
Philip Armour; Mary C. Daly
Long gone are the days when most American workers could rely on their employers to manage their retirement savings. Today, most people handle their retirement portfolios themselves, gaining the right and responsibility to determine their own best strategies. Research on retirement planning suggests, however, that many fall short of consensus targets for optimal savings and investment. While part of the shortfall is explained by information gaps and income constraints, research in behavioral e...
This paper develops the view that employer-sponsored pension plans are best understood as retirement income insurance for employees and from that perspective addresses a number of questions regarding the reasons for their existence, their design, and their funding and investment policies. The most important of these questions are: - Why do employers provide pension plans for their employees and why is participation usually mandatory? - Why is the defined benefit form of pension plan the domin...
Ward, Richard M; Weinman, Robert B
Health care expenses in retirement are the proverbial elephant in the room. Most employees don't know how big the elephant is. As Medicare solvency and retiree health care issues receive increasing attention, it is time to rethink overall benefit approaches and assess what is appropriate and affordable for an organization to help achieve workforce renewal goals and solve delayed retirement challenges. Just as Medicare was never designed to cover all of the post-65 retiree health care costs, neither is a workplace retirement plan designed to cover 100% of preretiree income. Now employers can consider strategies that may better equip retirees to meet both income needs and health care expenses in the most tax-efficient way. By combining defined contribution retirement and health care plans, employers have the power to increase benefits for employees while maintaining total benefits cost.
Baker, Hallie E; Brown, Pamela Pitman
The three-legged stool concept is widely used in gerontological and geriatric education as an explanation on how one should fiscally approach his or her retirement. Financial managers, planners, retirees, business owners, even the Social Security Administration uses this metaphor of fiscal soundness in retirement planning. Gerontologists are moving away from the "tripod of retirement income" and "three-legged stool" term, as more often market work is needed for financial security. This activity focuses on the tripod or three-legged stool concepts of retirement planning using active learning, allowing the students to work collaboratively in a group, reflect upon the activity, and most importantly have fun. The game also allows for an expansion of the tripod concepts into the four pillars of economic security, broaching the use of personal assets and the possible need for longer employment. Game scenarios also emphasize macro- and microlevel forces, such as race, gender, health status, education, or marital status, which can influence timing of retirement or the level of retirement income available. The authors include instructions on how to set up the learning experience including worksheets, as well as reflection questions posed throughout the process.
We estimate the effect of benefit rates on individuals’ retirement behaviour. Compared to most other studies in the field, the characterising feature of this paper is to use a cross-country panel data set of individuals (the European Community Household Panel, ECHP) to estimate economic effects...... across countries. A descriptive part of the paper makes clear that retirement via a period of unemployment prior to retirement programmes is quantitatively very important. We find econometric evidence that benefit rates affect retirement and the magnitude of this effect is relatively low if retirement...
compensation in their decisions on how long to remain in the service, but financial compensation is not the most important factor. In order to continue...their Thrift Savings Plan (TSP) retirement account to provide members departing the service prior to 20 year retirement eligibility with some portable...employment and promotion/ advancement opportunities. Thus, the BRS will have a neutral effect on gender 4 retention. In order to continue to close
Moss, Arthur J; Greenberg, Henry; Dwyer, Edward M; Klein, Helmut; Ryan, Daniel; Francis, Charles; Marcus, Frank; Eberly, Shirley; Benhorin, Jesaia; Bodenheimer, Monty; Brown, Mary; Case, Robert; Gillespie, John; Goldstein, Robert; Haigney, Mark; Krone, Ronald; Lichstein, Edgar; Locati, Emanuela; Oakes, David; Thomsen, Poul Erik Bloch; Zareba, Wojciech
An increasing number of academic senior physicians are approaching their potential retirement in good health with accumulated clinical and research experience that can be a valuable asset to an academic institution. Considering the need to let the next generation ascend to leadership roles, when and how should a medical career be brought to a close? We explore the roles for academic medical faculty as they move into their senior years and approach various retirement options. The individual and institutional considerations require a frank dialogue among the interested parties to optimize the benefits while minimizing the risks for both. In the United States there is no fixed age for retirement as there is in Europe, but European physicians are initiating changes. What is certain is that careful planning, innovative thinking, and the incorporation of new patterns of medical practice are all part of this complex transition and timing of senior academic physicians into retirement. Copyright © 2013 Elsevier Inc. All rights reserved.
... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Taxation of retirement bonds. 1.405-3 Section 1.405-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Pension, Profit-Sharing, Stock Bonus Plans, Etc. § 1.405-3 Taxation of retirement...
Hartmann, T.; Driessen, P.
The flood risk management plan challenges both water engineers and spatial planners. It calls for a new mode of governance for flood risk management. This contribution analyses how this mode of governance distinguishes from prevalent approaches. Spatial planning and water management in Europe are
Aguila, Emma; Hurd, Michael D; Rohwedder, Susann
In 1997, Mexico transformed its pay-as-you-go social security system to a fully funded system with personal retirement accounts, including management fees. This article examines changes in retirement wealth resulting from this new system. It shows that management fees have drained a significant proportion of individuals' retirement wealth and have increased the number of persons claiming a government-subsidized minimum pension, particularly from the time the system was introduced in 1997 until adjustment to management fees in 2008. Since 2008, retirement wealth accumulation has been similar to that of the previous system. En 1997, México transformó su sistema de pensiones basado en cotizaciones individuales a uno de ahorro para el retiro que incluyen cuotas por la administración de las cuentas. El presente estudio examina los cambios en el monto de las pensiones como resultado de la introducción del nuevo sistema. Los resultados muestran que las cuotas de administración han drenado una proporción significativa del ahorro para el retiro de los individuos por lo que ha aumentado el número de personas que solicita la pensión mínima garantizada subsidiada por el gobierno desde que se introdujo el sistema en 1997 hasta que se hicieron ajustes en las cuotas de administración de los fondos de pensiones en 2008. A partir de 2008, la acumulación del ahorro para el retiro ha sido similar que la del sistema anterior.
van Rooij, Maarten C. J.; Lusardi, Annamaria; Alessie, Rob J. M.
The complexity of financial decisions that households now face has increased to unprecedented levels. At the same time, households seem to lack the financial knowledge to cope with these decisions, including how to save and invest adequately for retirement. In this paper, we examine the relationship
Ng, Reuben; Allore, Heather G.; Monin, Joan K.; Levy, Becca R.
Studies examining the association between retirement and health have produced mixed results. This may be due to previous studies treating retirement as merely a change in job status rather than a transition associated with stereotypes or societal beliefs (e.g., retirement is a time of mental decline or retirement is a time of growth). To examine whether these stereotypes are associated with health, we studied retirement stereotypes and survival over a 23-year period among 1,011 older adults. As predicted by stereotype embodiment theory, it was found that positive stereotypes about physical health during retirement showed a survival advantage of 4.5 years (hazard ratio = 0.88, p = .022) and positive stereotypes about mental health during retirement tended to show a survival advantage of 2.5 years (hazard ratio = 0.87, p = .034). Models adjusted for relevant covariates such as age, gender, race, employment status, functional health, and self-rated health. These results suggest that retirement preparation could benefit from considering retirement stereotypes. PMID:27346893
James, Katie; Thompson-Fawcett, Michelle; Hansen, Carsten Jahn
and planning can unfold in smaller cities by scrutinising the New Zealand city of Invercargill. The city underwent metamorphosis from a faded town with a negative image to one that has a new path despite isolation and small population. Leadership, networking and innovation have been key factors. The paper......Cities that have transformed in response to socio-economic crises are a focus of theorists interested in identifying why changes are triggered and how they are played out. Stories of success add to knowledge of ‘fruitful’ city functioning. This paper examines how transformations in urban governance...... unveils how development fortunes on the global periphery can be reshaped by strong place leadership, revised connections between different tiers of policy making, and reframed processes of governance and planning....
Silver, Michelle Pannor; Williams, Sarah A
Some professions foster expectations that individuals cultivate their work identity above all other aspects of life. This can be problematic when individuals are confronted with the expectation that they will readily terminate this identity in later-career stages as institutions seek to cycle in new generations. This study examines the relationship between work identity and retirement by examining multiple generations of academic physicians. This study used a multimethod qualitative design that included document analysis, participant observation, focus groups, and in-depth interviews with academic physicians from one of the oldest departments of medicine in North America. This study illustrates how participants were predisposed and then groomed through institutional efforts to embrace a career trajectory that emphasized work above all else and fostered negative sensibilities about retirement. Participants across multiple generations described a lack of work-life balance and a prioritization of their careers above nonwork commitments. Assertions that less experienced physicians were not as dedicated to medicine and implicit assumptions that later-career physicians should retire emerged as key concerns. Strong work identity and tensions between different generations may confound concerns about retirement in ways that complicate institutional succession planning and that demonstrate how traditional understandings of retirement are out of date. Findings support the need to creatively reconsider the ways we examine relations between work identity, age, and retirement in ways that account for the recent extensions in the working lives of professionals.
Cooley, Eileen L; Adorno, Gail
in the 21st century, as more women are employed full-time and couples increasingly share egalitarian values, more women continue employment after their partners have voluntarily retired. However, we know very little about the experiences of this growing population of women. We asked working women with retired partners to share their advice for other women who may face this developmental transition. Open-ended responses from 97 women were analyzed to identify pertinent issues and themes. Four primary content areas were identified: time management, division of household labor, financial planning, and communication. Communication between partners was both a topic of concern as well as the solution suggested to resolve conflicts or differences that may arise when women live with a retired partner. It is expected that future changes in the workforce and improvements in the gender balance within relationships will continue to impact experiences for working women with retired partners.
Full Text Available Pension systems are a major part of the political economy of current societies – much beyond providing old-age income security. The well-known demographics of population aging as well as globalization today challenge their financial viability. Later retirement seems to be a good way to meet these challenges. However, it is not only unpopular but also inequitable in terms of differential longevity. The paper first discusses these problems, with a particular focus on the social stratification of mortality. It then analyzes the preferences towards retirement age at several levels: in terms of attitudes towards public spending on pensions or towards the state’s responsibility in this matter, of support for pension policy alternatives, and of preferred individual age of retirement. Results show that large majorities across all age groups are in favour of more government spending on pensions. There is a substantial amount of ‘involuntary retirement’, meaning that people would have preferred to work longer than they actually did, as well as a somewhat lower amount of ‘involuntary work’, but the preferred ages are everywhere below 65, and in some countries still below 60. Finally, the paper examines the policies of raising the retirement age adopted during the last two decades. What has especially been lacking in these policies is a consideration of socially differentiated longevity.
CREMER, Helmuth; LOZACHMEUR, Jean-Marie; PESTIEAU, Pierre
The 'Canada Dry' pensions system is in some countries one of the frequent routes to early retirement. It constitutes an informal substitute for early retirement programs. Accordingly, firms lay off aged workers they find costly for what they produce and, to get their support, supplement unemployment benefits by some extra compensation that is paid until formal retirement. Whether the government cannot or does not want to stop these practises is not clear. In this paper we show that these prac...
Planning in All its (Dis)guises: Spheres of Government, Functional Areas and ... Draft legislation such as the Spatial Planning and Land Use Management Bill ... of co-operative government where uncertainty and conflict exist is examined, ...
Organisation for Economic Cooperation and Development. Paris
Pension and retirement policies have changed dramatically in recent years, as governments have tried to balance the goals of adequate retirement incomes and the long-term financial sustainability of pension systems in the face of population ageing. Pensions at a Glance 2009 provides a consistent framework for comparing pension policies between countries along with reliable data. This third edition updates information on key features of pension provision in OECD countries and provides projections of retirement income for todays workers. It offers an expanded range of indicators, including measures of assets, investment performance, coverage of private pensions, public pension spending, and the demographic context and outlook. Four special chapters provide an in-depth look at important issues in pension policy today. The first examines the implications of the present financial and economic crisis on pension systems. Which countries and which individuals are most affected? What can governments do to help and whi...
Datta Gupta, Nabanita; Larsen, Mona
We investigate the effect of an acute health shock on retirement among elderly male workers in Denmark, 1991-1999, and in particular whether various welfare state programs and institutions impinge on the retirement effect. The results show that an acute health event increases the retirement chances of elderly male workers by 8%, and that this increase in the baseline retirement probability is not affected by eligibility to early exit programs and persists even after accounting for selection due to take-up of disability pension. Neither is it affected by the relatively long duration of sickness benefits in Denmark nor by the promotion of corporate social responsibility initiatives since the mid-1990s. In the late 1990s, however, the retirement rate following a health shock is reduced to 3% with the introduction of the subsidized employment program ( fleksjob ) but this effect is on the margin of being significant. For the most part, the retirement effect following a health shock seems to be immune to the availability of a multitude of government programs for older workers in Denmark.
L.M. Magda Hewitt
Full Text Available Orientation: The South African retirement fund industry ranks among the 15 largest retirement fund industries internationally, with some 8 million members and assets under management of close to R2 trillion. However, to be successful, retirement funds need good governance. Research purpose: To explore the most critical servant leadership qualities required that can serve as profile in the selection, appointment and training of retirement fund trustees (RFTs to serve on boards of trustees of retirement funds in the South African context. Motivation for the study: The South African National Treasury’s retirement reform proposal clearly articulates government’s concern for the poor governance of retirement fund assets by appointed boards of trustees and the broader implications on social and economic security in retirement. It promotes the regulation of standards relating to the minimum qualifications and expertise needed to be appointed to serve on a board of trustees (BoTs. Although the measures proposed by government to improve fund governance and the role of the RFTs are sound in principle, it does not inform the character, leadership qualities or leadership competence desired for RFTs, thus leaving the management of funds in the hands of people who must make investment decisions when they themselves are not fully committed. Research design, approach and method: The research question was addressed through an extensive literature review and a qualitative methodology using a semi-structured interview; fieldwork that included personal observations; and notes with six active, high-profile, respected, purposefully selected RFTs. An interpretive approach was adopted to provide elaborative interpretations of phenomena without having to rely on numerical measurement. Main findings: A strong similitude exists between servant leader qualities, as found in the literature, and those qualities identified and required to be appointed as a RFT. Literature
Fatemeh Kianpour Ghahfarokhi
Full Text Available Objectives: The purpose of this study was to evaluate the relationship between demographic characteristics and retirement satisfaction in elderly members of registered retirement Education Center in Ahwaz. Methods & Materials: This study was descriptive-correlative. The sample of study includes ninety-six retirees referring to retirement center of Ahvaz Using Convenience of haphazard sampling in year 1388. Participants were requested to fill in Retirement Descriptive Index as well as a demographic questionnaire. Data were analyzed using descriptive statistic, Simple correlation and regression repeatedly analysis (by SPSS 16 versions. Results: There are significant positive correlation between health, employment, financial status, usefulness feeling, spouse employment with retirement satisfaction and negative correlation between retirement age and spouse retirement with retirement satisfaction. Conclusion: This study reveals that health, re-employment after retirement, having a good financial status and usefulness feeling increase retirement satisfaction. But retirement age and retirement satisfaction decrease it.
"Life without nuclear power": A nuclear plant retirement formulation model and guide based on economics. San Onofre Nuclear Generating Station case: Economic impacts and reliability considerations leading to plant retirement
Traditionally, electric utilities have been slow to change and very bureaucratic in nature. This culture, in and of itself, has now contributed to a high percentage of United States electric utilities operating uneconomical nuclear plants (Crooks, 2014). The economic picture behind owning and operating United States nuclear plants is less than favorable for many reasons including rising fuel, capital and operating costs (EUCG, 2012). This doctoral dissertation is specifically focused on life without nuclear power. The purpose of this dissertation is to create a model and guide that will provide electric utilities who currently operate or will operate uneconomical nuclear plants the opportunity to economically assess whether or not their nuclear plant should be retired. This economic assessment and stakeholder analysis will provide local government, academia and communities the opportunity to understand how Southern California Edison (SCE) embraced system upgrade import and "voltage support" opportunities to replace "base load" generation from San Onofre Nuclear Generating Station (SONGS) versus building new replacement generation facilities. This model and guide will help eliminate the need to build large replacement generation units as demonstrated in the SONGS case analysis. The application of The Nuclear Power Retirement Model and Guide will provide electric utilities with economic assessment parameters and an evaluation assessment progression needed to better evaluate when an uneconomical nuclear plant should be retired. It will provide electric utilities the opportunity to utilize sound policy, planning and development skill sets when making this difficult decision. There are currently 62 nuclear power plants (with 100 nuclear reactors) operating in the United States (EIA, 2014). From this group, 38 are at risk of early retirement based on the work of Cooper (2013). As demonstrated in my model, 35 of the 38 nuclear power plants qualify to move to the economic
Adams, Gary A.; Rau, Barbara L.
In this article we note that in the coming years, a larger number of people will be experiencing retirement for a longer period of time than ever before and that despite this fact, many will find themselves unprepared for this stage of their lives. We review the literature on retirement preparation, structuring our review around the key questions…
Full Text Available Data from the Survey of Consumer Finances for 1989 through 2013 reveal five broad findings. First, overall retirement plan participation was stable or rising through 2007, though overall participation fell noticeably in the wake of the Great Recession and has remained lower. Second, cohort-based analysis of life-cycle trajectories shows that participation in retirement plans is strongly correlated with income, and that the recent decline in participation is concentrated among younger and low- to middle-income families. Third, the shift in the type of pension coverage from defined benefit (DB to defined contribution (DC occurred within—not just across—income groups. Fourth, retirement wealth is less concentrated than nonretirement wealth, so the growth of retirement wealth relative to nonretirement wealth helped offset the increasing concentration in nonretirement wealth. Fifth, the shift from DB to DC had only a modest effect in the other direction because DC wealth is more concentrated than DB wealth.
RETIREMENT INCOME ADEQUACY IMPROVED SLIGHTLY IN 2013: Due to the increase in financial market and housing values during 2013, the probability that Baby Boomers and Generation Xers would NOT run short of money in retirement increases between 0.5 and 1.6 percentage points, based on the Employee Benefit Research Institute (EBRI) Retirement Readiness Ratings (RRRs). ELIGIBILITY FOR PARTICIPATION IN AN EMPLOYER-SPONSORED DEFINED CONTRIBUTION PLAN REMAINS ONE OF THE MOST IMPORTANT FACTORS FOR RETIREMENT INCOME ADEQUACY: RRR values double for Gen Xers in the lowest-income quartile when comparing those with 20 or more years of future eligibility with those with no years of future eligibility, while those in the middle income quartiles experience increases in RRR values by 27.1-30.3 percentage points. FUTURE SOCIAL SECURITY BENEFITS MAKE A HUGE DIFFERENCE FOR THE RETIREMENT INCOME ADEQUACY OF SOME HOUSEHOLDS, ESPECIALLY GEN XERS IN THE LOWEST-INCOME QUARTILE: If Social Security benefits are subject to proportionate decreases beginning in 2033 (according to the values in Figure 8), the RRR values for those households will drop by more than 50 percent: from 20.9 percent to 10.3 percent. LONGEVITY RISK AND STOCHASTIC HEALTH CARE RISK ARE ASSOCIATED WITH HUGE VARIATIONS IN RETIREMENT INCOME ADEQUACY: For both of these factors, a comparison between the most "risky" quartile with the least risky quartile shows a spread of approximately 30 percentage points for the lowest income range, approximately 25 to 40 percentage points for the highest income range, and even larger spreads for those in the middle income ranges. A GREAT DEAL OF THE VARIABILITY IN RETIREMENT INCOME ADEQUACY COULD BE MITIGATED BY APPROPRIATE RISK-MANAGEMENT TECHNIQUES AT OR NEAR RETIREMENT AGE: For example, the annuitization of a portion of the defined contribution and IRA balances may substantially increase the probability of not running short of money in retirement. Moreover, a well-functioning market in long
... does not exceed railroad retirement covered compensation, (B) The plan uses the same base benefit..., or (2) 0.56 percent plus the base benefit percentage plus 0.75 percent. (ii) Definitions. The following definitions govern for purposes of this paragraph (c)(2). (A) Base benefit percentage means the...
Stephan, Yannick; Fouquereau, Evelyne; Fernandez, Anne
Little is known about the motivational forces leading retired individuals to engage in post-retirement activities and how they could be related to satisfaction with retirement. Using the self-determination framework, the purpose of the present exploratory study was to examine the nature of active retirees' motivation and its impact on satisfaction with life in retirement. The Global Motivation Scale and measures of satisfaction with retirement were administered to 150 active retired individuals engaged in organized post-retirement activities in a University-based organization. Results revealed that these individuals were mainly characterized by higher levels of intrinsic motivation for knowledge, stimulation and accomplishment, rather than extrinsic dimensions. Regression analysis further demonstrated that intrinsic motivation for both accomplishment and stimulation were positively related to satisfaction with retirement, over and above the significant contribution of time since retirement, anticipated satisfaction with retirement, and subjective health. This exploratory study highlights the motivational mechanisms through which post-retirement behaviors could positively influence satisfaction with life in retirement among active retirees.
Chou, Kee-Lee; Yu, Kar-Ming; Chan, Wai-Sum; Chan, Alfred C M; Lum, Terry Y S; Zhu, Alex Y F
Using a phone survey conducted among Hong Kong workers, we examined the association of institutional, social, and psychological factors with engagement in both private retirement savings and the total amount of savings. Alarmingly, this study demonstrates that approximately 42% of Hong Kong workers do not save privately for their retirement. We found that age, education, number of children, support from spouse and friends, social regulation, perceived financial knowledge, and financial management capacity are associated with engagement in private retirement savings. Among those who saved, age, education, perceived financial knowledge, and financial management capacity are related to the amount of savings. Measures that could increase the social support for retirement savings as well as enhance their financial knowledge and management ability should be developed and implemented so that more workers engage in private retirement savings. A promising policy option for the Hong Kong government is to offer a tax incentive to promote additional savings for old-age income protection.
Gowan, Mary A.
Examines why individuals elect to take the early retirement package offered by their employer, as well as factors affecting their appraisal of that decision. Results suggest that all early retirement decisions are not voluntary. Individuals who do not wish to retire and who had lower self-esteem, fewer financial resources, and plans to continue…
Arling, Priscilla A.; Kirby, Jill; Saajasto, Kegan
For college graduates entering the workforce, contributing to an employer-sponsored 401(k) retirement plan can be an important way of saving for the future. However, contribution rates for young people in these plans are far below recommended percentages, leading to concerns about future financial stability for these individuals. Prior work has…
Brett, Thomas D; Arnold-Reed, Diane E; Hince, Dana A; Wood, Ian K; Moorhead, Robert G
To ascertain the retirement intentions of a cohort of Australian general practitioners. Postal questionnaire survey of members of four Divisions of General Practice in Western Australia, sent out November 2007 - January 2008. A sample of 178 GPs aged 45-65 years. Intention to work in general practice until retirement; reasons for retiring before age 65 years; factors that might encourage working beyond chosen retirement age; and perceived obstacles to working in general practice. 63% of GPs intended to work to at least age 65 years, with men more likely to retire early. Of 63 GPs intending to retire early, 46% gave pressure of work, exhaustion and burnout as reasons for early retirement. Better remuneration, better staffing levels and more general support were incentives to continue working for 46% of the 64 GPs who responded to the question about incentives, and more flexible working hours, part-time work and reduced workload for 41%. Of 169 participants, 65% gave increasing bureaucracy, poor job satisfaction and disillusionment with the medical system or Medicare as obstacles to working in general practice in Australia, whereas workforce shortage, increasing patient demands and diminishing lifestyle through overwork were obstacles named by 48%. Many GPs are planning to retire early, reflecting an emerging trend among professionals and society generally. Declining job satisfaction, falling workforce numbers, excessive workload and increasing bureaucracy were recurrent concerns of older WA GPs considering premature retirement.
Puryer, James; Patel, Ashini
Aim: To investigate the career intentions, work-life balance and retirement plans of dental undergraduates at the University of Bristol in 2015. Method: Cross-sectional survey of 210 clinical undergraduates using an anonymous self-report questionnaire.Results: The response rate was 79%. The majority (81.7%) were ‘satisfied’ or ‘extremely satisfied’ with their choice of career. The majority (78.7%) felt men and women are equally likely to succeed in dentistry, although 42.9% felt men had an ad...
Schnabel, Reinhard; Friedel, Heiko; Erfurth, Andreas; Angermayer, Matthias; Clouth, Johannes; Eichmann, Florian
Although early retirement causes major changes in the life of schizophrenic patients and is among the major cost factors to be covered by payers, the causes leading to early retirement of schizophrenic patients have not been investigated in detail. Therefore, the objective of this retrospective non-interventional case-control study was to generate hypotheses on predisposing factors for early retirement in schizophrenia. Logistic regression was used to explore potential predisposing parameters with regard to their effect on the outcome early retirement. As the study results indicate, schizophrenia severity, assistance or care in the patient's everyday life, age and antipsychotic treatment with typical antipsychotics are linked to the occurrence of early retirement. Further research should be planned to confirm or refute the hypotheses determined in this retrospective analysis and to determine whether atypical antipsychotics could help to avoid early retirement and to improve the situation of schizophrenic patients.
Cain, Joanna M; Felice, Marianne E; Ockene, Judith K; Milner, Robert J; Congdon, John L; Tosi, Stephen; Thorndyke, Luanne E
Medical school faculty are aging, but few academic health centers are adequately prepared with policies, programs, and resources (PPR) to assist late-career faculty. The authors sought to examine cultural barriers to successful retirement and create alignment between individual and institutional needs and tasks through PPR that embrace the contributions of senior faculty while enabling retirement transitions at the University of Massachusetts Medical School, 2013-2017. Faculty 50 or older were surveyed, programs at other institutions and from the literature (multiple fields) were reviewed, and senior faculty and leaders, including retired faculty, were engaged to develop and implement PPR. Cultural barriers were found to be significant, and a multipronged, multiyear strategy to address these barriers, which sequentially added PPR to support faculty, was put in place. A comprehensive framework of sequenced PPR was developed to address the needs and tasks of late-career transitions within three distinct phases: pre-retirement, retirement, and post-retirement. This sequential introduction approach has led to important outcomes for all three of the retirement phases, including reduction of cultural barriers, a policy that has been useful in assessing viability of proposed phased retirement plans, transparent and realistic discussions about financial issues, and consideration of roles that retired faculty can provide. The authors are tracking the issues mentioned in consultations and efficacy of succession planning, and will be resurveying faculty to further refine their work. This framework approach could serve as a template for other academic health centers to address late-career faculty development.
Clayton Arlen Looney; Andrew M. Hardin
As firms continue to abandon pensions in favor of employee-managed retirement plans, tremendous demands are being placed on the decision-making proficiency of future retirees. As reflected in the equity premium puzzle, individual investors tend to hold overly conservative portfolios that provide meager payoffs over time. Consequently, there is growing concern that the vast majority of retirement accounts might be insufficiently funded when employees reach retirement. Given that most retiremen...
Cho, Hyejin; Suh, Wookyung; Lee, Jiyoung; Jang, Younju; Kim, Minjung
This study investigated a retirement coaching educational program using the mixed method research design. A structured survey was distributed to 48 financial planners who had undergone 50-hour retirement education including retirement coaching. The coaching was conducted in two sessions in 2015. Results revealed that first, the retirement coaching…
de Wind, Astrid; Leijten, Fenna Rm; Hoekstra, Trynke; Geuskens, Goedele A; Burdorf, Alex; van der Beek, Allard J
Objectives Before actual retirement, employees may already distance themselves from work, which could be referred to as "mental retirement". However, trajectories of work motivation, ie, work engagement, have not been studied yet. The present study aimed to (i) identify different trajectories of work engagement among older workers approaching the retirement age, and (ii) examine their associations with actual retirement. Methods In total 3171 employees aged 55-62 years, who participated in the Dutch Study on Transitions in Employment, Ability and Motivation were included in this study. Participants completed questionnaires in 2010, 2011, 2012, and 2013. Latent class growth mixture modeling was performed to identify groups of employees with similar three-year trajectories in work engagement. Logistic regression analyses were performed to study whether trajectory membership was associated with retirement. Results Of the 3171 employees, 16.2% made a transition from work to (early) retirement (N=513). Four trajectories of work engagement were identified: steady high (76.3%), steady low (12.7%), decreasing (6.2%), and increasing (4.8%). A steady low work engagement trajectory was associated with retirement [odds ratio (OR) 1.46], compared to a steady high work engagement trajectory. Although not statistically significant, an increasing work engagement trajectory seemed to be associated with retirement as well (OR 1.60). Conclusions This study did not support the concept of mental retirement before actual retirement, ie, a decrease in work engagement among those facing retirement. However, as one in eight employees did experience steady low work engagement in the years before retirement, interventions promoting work motivation are recommended to support the employability of these employees.
Julia Morais Vilela
Full Text Available This is a descriptive exploratory study aimed at understanding the plans and prospects of individuals concerning retirement, building social support network, and activities of daily living and their importance. The study sample was composed of ten civil servants from a Federal University in Minas Gerais state who participated in the Retirement Preparation Program - PPA. Data were collected through semi-structured interviews and the application of The Convoy of Social Support. Data were analyzed by discourse analysis based on Pêcheux’s conception. The results showed that women had more concrete plans than men, already engaging in other activities before retiring. It was also found that the social support network of most civil servants was restricted to the family. With respect to activities of daily living, most of the subjects in the sample currently regard their work as the main activity and intend to devote most of their time to volunteer work after retirement. We conclude that the fact that the subjects wish to retire does not mean they are prepared for it; therefore, the participation of Occupational Therapy in PPA allows civil servant to plan life projects that put them into action before their retirement.
Coles, G.A.; Shultz, M.V.; Taylor, W.E.
Risk from retired surplus facilities has always been assumed to be low at the Hanford Site as the facilities are inactive and have few potentials for causing an offsite hazardous material release. However,the fatal accident that occurred in the spring of 1992 in which an employee fell through a deteriorated roof at the 105-F Reactor Building has raised the possibility that retired facilities represent a greater risk than was originally assumed. Therefore, Westinghouse Hanford Company and the US Department of Energy management have determined that facility risk management strategies and programmatic plans should be reevaluated to assure risks are identified and appropriate corrective action plans are developed. To evaluate risk management strategies, accurate risk information about the current and projected condition of the facilities must be developed. This work procedure has been created to address the development of accurate and timely risk information. By using the evaluation results in this procedure, it will be possible to create a prioritized baseline for managing facility risk until all retired surplus facilities are demolished
Kendig, Hal; Wells, Yvonne; O'Loughlin, Kate; Heese, Karla
This paper examines the impact in Australia of the global financial crisis on the baby boom cohort approaching later life. Data from national focus groups of people aged 50 to 64 years (N = 73), conducted in late 2008, found widespread but variable concern and uncertainty concerning work and retirement plans and experiences. A national survey (N = 1,009) of those aged 50 to 64 years in mid-2009 reported lower levels of financial satisfaction compared with other life domains; many planned to postpone retirement. Findings are interpreted in the context of policies and markets that differed significantly from those in the United States, notwithstanding the global nature of the financial crisis.
Montana Commission on Post-Secondary Education, Helena.
This brief report consists of a series of observations on governance, planning, and coordination in Montana postsecondary education. It offers an impressionistic overview of three selected issues: the regents and the 1972 Constitution (background, governance, accountability, and legal protection); Governance of Vocational-Technical Centers (the…
Full Text Available In light of recent policies aiming to promote the prolongation of working life, one of the key questions is how people have adjusted their retirement expectations (i.e., realistic plans and preferences (i.e., wishes and desires. We explore which social groups plan to continue working after the statutory retirement age, and whether they wish to do it or whether it is a forced choice (‘involuntary’ work. Overall, almost all employed late career workers plan to work until or beyond retirement age in Estonia, especially men and those who have more educational and health resources. Still, results of a joint analysis of plans and wishes indicate that two groups have a higher risk of ‘involuntary’ work. First, a higher education combined with a low job satisfaction predicts staying longer in the labour despite the wish to retire as early as possible. Second, individuals who have poor health and a low job satisfaction often wish to retire as early as possible but stay in the labour market until reaching to the compulsory retirement age. Thus, policy measures increasing merely the statutory retirement age create tensions, especially among those not satisfied with their jobs. More analytical work and policy measures are needed to provide solutions at the workplace level that would enable a prolonged work career.
This Climate Change Action Plan described the measures that are being taken by the Yukon Government to adapt to, understand, and reduce contributions to climate change. The action plan is the result of input received from more than 100 individuals and organizations and provides clear direction for a strategy that will minimize the negative impacts of climate change and provide economic, social and other environmental benefits through climate change mitigation. The Yukon government has already taken many actions that respond to climate change, such as: developing the Yukon Cold Climate Innovation Centre; supporting the Northern Climate Exchange for public education and outreach; funding community recycling depots and other groups that reduce waste generation, promote public awareness and divert solid waste; and working with provincial and territorial counterparts to enhance national building standards. The main objectives of the climate change actions are to enhance knowledge and understanding of climate change; adapt to climate change; reduce greenhouse gas emissions; and lead Yukon action in response to climate change. tabs., figs.
Full Text Available This paper presents some insights into the intersection of physical planning and governance in Zimbabwe. It argues that the major theoretical, policy and practice discourses - explaining the intersection of physical planning and governance - relate...
Kotlikoff, Laurence J.
This paper is about the funding status of teachers' retirement pension schemes. Its goal is to relate the accounting for the funding of these pension obligations to the endemic, systematic, and fundamentally fraudulent system of accounting our country uses to assess the financial positions of federal, state, and local government as well as many…
Butrica, Barbara A; Smith, Karen E; Toder, Eric J
The 2008 stock market crash raises concerns about retirement security, especially since the increased prevalence of 401(k) and similar retirement saving plans means that more Americans are now stakeholders in the equity market than in the past. Using a dynamic microsimulation model, this paper explores the ability of alternate future stock market scenarios to restore retirement assets. The authors find that those near retirement could fare the worst because they have no time to recoup their losses. Mid-career workers could fare better because they have more time to rebuild their wealth. They may even gain income if they buy stocks at low prices and get above-average rates of return. High-income groups will be the most affected because they are most likely to have financial assets and to be invested in the stock market.
Full Text Available There are many calls for urban planning in Australia to be reformed, although often in contradictory ways. For example, some argue it should be capable of delivering greater certainty to developers while others call for more flexibility in processes of urban development regulation; some would like to roll back its regulatory impact while others argue for a renewal of planning’s commitment to promoting social and spatial justice. The Australian planning system is also held to be hindered by a comparative lack of planning at and for the metropolitan scale. This is connected to the absence of well-developed structures of metropolitan governance in what is a three-tier federal system, with most power over planning concentrated at the State and Territory government scale. The paper explores this putative hindrance by considering three important issues in Australian urban policy debates about the efficacy of contemporary multi-level governance arrangements: spatial scale; identity and legitimacy; and efficiency and effectiveness. It includes some analysis of the case made for a more explicit and rigorous national urban policy and how this might relate to lower level planning regimes. The paper focuses on recent urban policy and planning initiatives in South East Queensland, one of Australia’s fastest growing metropolitan regions, and concludes that while incremental but nonetheless significant improvements in planning policy and practice are possible, these are unlikely to satisfy those calling for more radical changes to improve the Australian planning system.
OBJECTIVES The DOD Office of the Actuary defines the purpose of the system. Doing so establishes a baseline from which to judge the effectiveness of the...system in meeting its ultimate objectives. In the Valuation of the Military Retirement System—September 30, 2011, the DOD Office of the Actuary (2013...increasingly unaffordable” and “unsustainable” with the present rising costs. The OSD Office of the Actuary forecasts the annual retirement payments to
Peterson, Chris L; Murphy, Greg
The new millennium has seen the projected growth of older populations as a source of many problems, not the least of which is how to sustain this increasingly aging population. Some decades ago, early retirement from work posed few problems for governments, but most nations are now trying to ensure that workers remain in the workforce longer. In this context, the role played by older employees can be affected by at least two factors: their productivity (or perceived productivity) and their acceptance by younger workers and management. If the goal of maintaining employees into older age is to be achieved and sustained, opportunities must be provided, for example, for more flexible work arrangements and more possibilities to pursue bridge employment (work after formal retirement). The retirement experience varies, depending on people's circumstances. Some people, for example, have retirement forced upon them by illness or injury at work, by ill-health (such as chronic illnesses), or by downsizing and associated redundancies. This article focuses on the problems and opportunities associated with working to an older age or leaving the workforce early, particularly due to factors beyond one's control.
Matthews, Janet R.
During the 1960s, there was extensive hiring of college and university faculty members. This large group of professors are now at or nearing retirement age. Concerns about the economy, the availability of good health insurance, increased life expectancy, and removal of mandatory retirement laws may influence decisions about when to retire.…
Krause, N; Lynch, J; Kaplan, G A; Cohen, R D; Goldberg, D E; Salonen, J T
Disability retirement may increase as the work force ages, but there is little information on factors associated with retirement because of disability. This is the first prospective population-based study of predictors of disability retirement including information on workplace, socioeconomic, behavioral, and health-related factors. The subjects were 1038 Finnish men who were enrolled in the Kuopio Ischemic Heart Disease Risk Factor Study, who were 42, 48, 54, or 60 years of age at the beginning of the study, and who participated in a 4-year follow-up medical examination. Various job characteristics predicted disability retirement. Heavy work, work in uncomfortable positions, long workhours, noise at work, physical job strain, musculoskeletal strain, repetitive or continuous muscle strain, mental job strain, and job dissatisfaction were all significantly associated with the incidence of disability retirement. The ability to communicate with fellow workers and social support from supervisors tended to reduce the risk of disability retirement. The relationships persisted after control for socioeconomic factors, prevalent disease, and health behavior, which were also associated with disability retirement. The strong associations found between workplace factors and the incidence of disability retirement link the problem of disability retirement to the problem of poor work conditions.
Full Text Available Introduction: Phased retirement involves reducing working time in the final years before retirement. The aim of phased retirement is to extend working careers and retain older workers who would otherwise opt for full early retirement. This article investigates the effect of offering phased retirement on early-retirement behaviour in Norway.Method: The data used in the analysis covers the period between 2000 and 2010 and comprises all employees between 61 and 62 years of age (N= 18 174 who were employed in any of the 442 companies that participated in a 2010 survey carried out by the Fafo Institute for Labour and Social Research and Respons Analyse AS, a Norwegian research firm. I use a difference-in-differences approach and logistic regression, which enables the measurement of changes in the individual relative risk of retiring full-time on the contractual pension (AFP, avtalefestet pensjon, contractual early-retirement pension, before and after the introduction of phased retirement as a retention measure.Results: The results show that working in a company that offers reduced working hours for older workers does not have an effect on the relative risk of a 61- or 62-year-old withdrawing a full contractual pension in the next two years of their employment. This result is evident both before and after controlling for a range of known individual risk factors, as well as after controlling for company characteristics.Discussion: In the search for suitable measures for retaining older workers, offering phased retirement may still be part of the answer. Though my analysis does not support the idea that more flexible working hours is a decisive factor for those who choose to opt for full early retirement, a possible next step could be to investigate the impact of offering flexible working hours on the employment duration of those who do remain in employment.
The study examined the impact of corporate governance on tax planning of non- .... board characteristics on corporate tax avoidance (Minnick &Noga, 2010; Lanis ...... African economy; Journal of Business and Policy Research; 5(1), 110-122.
Quinn, Joseph F; Cahill, Kevin E
We have entered a new world of retirement income security in America, with older individuals more exposed to market risk and more vulnerable to financial insecurity than prior generations. This reflects an evolution that has altered the historical vision of a financially secure retirement supported by Social Security, a defined-benefit pension plan, and individual savings. Today, 2 of these 3 retirement income sources-pensions and savings-are absent or of modest importance for many older Americans. Retirement income security now often requires earnings from continued work later in life, which exacerbates the economic vulnerability of certain segments of the population, including persons with disabilities, the oldest-old, single women, and individuals with intermittent work histories. Because of the unprecedented aging of our society, further changes to the retirement income landscape are inevitable, but policymakers do have options to help protect the financial stability of older Americans. We can begin by promoting savings at all (especially younger) ages and by removing barriers that discourage work later in life. For individuals already on the cusp of retirement, more needs to be done to educate the public about the value of delaying the receipt of Social Security benefits. Inaction now could mean a return to the days when old age and poverty were closely linked. The negative repercussions of this would extend well beyond traditional economic measures, as physical and mental health outcomes are closely tied to financial security. (PsycINFO Database Record (c) 2016 APA, all rights reserved).
Virtudes, Ana; Sá, João
This article discusses the use of information and communication technologies (ICT) at the local level of governance in the field of urban planning. It is based on a literature review, in order to define a set of considerations about their use in the urban context and the challenges ahead on this domain. As a starting point, there is the need of rethinking the local governance through the use of ICT related to cities, focused on the modernization of the processes associated with urban planning. Nowadays, in several societies the paradigm about cities if shifting, from an expansionist way of acting towards a regeneration and rehabilitation approach. In the case of Portugal, the local authorities; the municipalities; are the main responsible for the coordination, and integration of policies with territorial impacts. However, these policies are generally onerous and inefficient, triggering communication and information failures in between local administration and citizens. In this sense, governance should support the decision-making process related to cities’ policies, engaging citizens and socio-economic agents. As the main result in this scenario, the use of ICT demonstrates the ability to play an important role in urban planning, by contributing as a simplifying tool, regarding the information and knowledge sharing, gathering local authorities, citizens and socio-economic agents. On the one hand, they promote the reduction of inefficiencies associated to the urban planning process. On the other hand, they boost the development of networks, and consequently the social and territorial cohesion. In summary, the use of ICT infrastructures works as a glue allowing the integration of several intelligence elements of the city, and operating as their base platform. Finally, the literature has revealed that the use of ICT in urban planning should be seen as a means to a wider social goal, and not as an end by itself. With the use of ICT, urban planning authorities are more
Iams, Howard M; Purcell, Patrick J
In recent decades, employers have increasingly replaced defined benefit (DB) pensions with defined contribution (DC) retirement accounts for their employees. DB plans provide annuities, or lifetime benefits paid at regular intervals. The timing and amounts of DC distributions, however, may vary widely. Most surveys that provide data on the family income of the aged either collect no data on nonannuity retirement account distributions, or exclude such distributions from their summary measures of family income. We use Survey of Income and Program Participation (SIPP) data for 2009 to estimate the impact of including retirement account distributions on total family income calculations. We find that about one-fifth of aged families received distributions from retirement accounts in 2009. Measured mean income for those families would be about 15 percent higher and median income would be 18 percent higher if those distributions were included in the SIPP summary measure of family income.
Rocco de Campos Pereira, R.C.; Schweitzer, R.
This paper describes governance arrangements in regional spatial planning and water resources management at the regional level from a normative point of view. It discusses the need to integrate spatial planning and resources management in order to deliver socially sustainable integral territorial
. 3. Drag LL, et al. Cognitive functioning, retirement status, and age: results from the Cognitive Changes and Retirement among. Senior Surgeons study. J Am Coll Surg. 2010;211(3):303-7. 4. Wang DS, Winfield HN. Survey of urological laparoscopic practice patterns in the Midwest.
In debates on pensions and retirement age, little attention has been paid to the relation between increased effective retirement age and the health of the older population. This article focuses on Britain at a crucial point in the past, when the reconstruction that followed recession in the late 1970s and early 1980s used previously accumulated pension and redundancy funds to pay off workers and make labor markets "flexible." Using secondary data analysis of surveys of the same nationally representative sample in 1984 and 1991, the author argues that, while early retirement and retirement at age 60 (women) and 65 (men) took many able-bodied people out of the labor force, every increase in retirement age would have faced diminishing returns. Moreover, unemployment and exit from the labor market were accompanied in most cases by a perceived decline in well-being. The findings suggest that retirement should be tapered, not abrupt. Finally, there was pronounced inequality in the aging process that would have led to a situation in which a uniform policy on later retirement deepened the disadvantage of those least able to fend for themselves. Accordingly, the present U.K. government should positively discriminate in favor of the disadvantaged at retirement by reinforcing the state pension.
Kutlu Koc, Vesile
Recent pension reforms in industrialized countries are, in part, motivated by the increased life expectancy. As individuals are expected to take more responsibility in their retirement planning and savings decisions, it is important to understand whether they are aware of improvements in life
Full Text Available Canadian governments are facing significant human resource management challenges due to pending retirements, projected labour market shortages and the workplace expectations of New Professionals. This paper explores human resource recruitment planning initiatives, which have been undertaken by Nova Scotia municipalities, in order to attract and retain a new generation of municipal government managers. We will argue, in line with a recent Association of Municipal Administrators (AMA of Nova Scotia municipal report that Nova Scotia municipalities must take intergenerational issues into account, for management succession planning to be successful. Our exploration of municipal succession planning will take place in the context of a larger study, which we have done on “New Professional” recruitment, retention and development initiatives in Canada
Costrell, Robert M.; McGee, Josh B.
The authors analyze the Arkansas teacher pension plan and empirically gauge the behavioral response to incentives embedded in that plan and to possible reforms. The pattern of pension wealth accrual creates sharp incentives to work until eligible for early or normal retirement, often in one's early fifties, and to separate shortly thereafter. We…
Lee, Sok K
A retirement is a rite of passage that requires careful planning, because it forces a retiree to make a shift in the paradigm in life. For 37 years, I was a healing professional, a breadwinner, and a working spouse. I am now a jobless loner, an inactive pensioner, and a homebound spouse. In this retrospective autobiography, I suggest a few points to help my younger colleagues to better their upcoming retirement: professional, financial, social, and familial. To overcome Erikson's identity crisis, I volunteered to be a wounded healer at Warm Springs Indian Reservation. My volunteer medical service at Warm Springs Indian Reservation was a good antidote to creatively overcome my postretirement blues.
Raman Nair, R.
In decentralized administration local bodies are concerned with various administrative, educational and development issues. So in local government the planning for use of technology have started to recognize the value of information. This study attempts to evolve technical guidelines for building up an information system under local government that has to provide networking services by connecting various offices and institutions like Block Panchayat Office, Village Panchayat Office, District...
Jeannie van Wyk
Full Text Available The Constitution determines that the legislative and executive powers regarding 'regional planning and development', 'urban and rural development', 'provincial planning' and 'municipal planning' are divided among the three spheres of government. Yet the boundaries between these items listed in Schedules 4 and 5 of the Constitution are opaque and their precise content is not always apparent. Overlaps, conflicts and uncertainty may occur. In a number of landmark decisions the courts have provided content to these different functional areas. Clarity on what 'municipal planning' comprises leads to more certainty on the content of the other planning areas. Draft legislation such as the Spatial Planning and Land Use Management Bill (B14-2012 can also assist in adding substance to a demarcation of these different functional areas. Yet uncertainties still remain, occasioned by constitutional provisions such as sections 100, 139(1 and 155(6-(7, that permit intervention by national and provincial government in provinces and municipalities respectively, as well as the support and monitoring by provincial government in respect of municipalities. Few clear solutions are immediately apparent. The role of the constitutional principles of co-operative government where uncertainty and conflict exist is examined, especially where no veto of one sphere over another is possible. Principles of interpretation can also assist in delineating the boundaries of the different functional areas. It seems, however, that the courts will find themselves having to address the remaining inconsistencies.
Polivka, Larry; Luo, Baozhen
The origins and trajectory of the crisis in the United States retirement security system have slowly become part of the discussion about the social, political, and economic impacts of population aging. Private sources of retirement security have weakened significantly since 1980 as employers have converted defined benefits precisions to defined contribution plans. The Center for Retirement Research (CRR) now estimates that over half of boomer generation retirees will not receive 70-80% of their wages while working. This erosion of the private retirement security system will likely increase reliance on the public system, mainly Social Security and Medicare. These programs, however, have increasingly become the targets of critics who claim that they are not financially sustainable in their current form and must be significantly modified. This article will focus on an analysis of these trends in the erosion of the United States retirement security system and their connection to changes in the United States political economy as neoliberal, promarket ideology, and policies (low taxes, reduced spending, and deregulation) have become dominant in the private and public sectors. The neoliberal priority on reducing labor costs and achieving maximum shareholder value has created an environment inimical to maintain the traditional system of pension and health care benefits in both the private and public sectors. This article explores the implications of these neoliberal trends in the United States economy for the future of retirement security. © The Author 2015. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: firstname.lastname@example.org.
Aguirre Gas, Héctor G
Human beings have a natural resistance to think about their old age, both personally and professionally. Governments have targeted efforts to successfully prolong the life of the population, situation which already is a social and economic problem. “Old is a person with physical, intellectual and emotional limitations, who has a reduced autonomy and welfare, as a result of the years lived”. Not everyone ages at the same age; it will depend on health, habits, physical and intellectual activity, nutritional status, vices and attitude towards life. A physician may decide not to continue exercising medicine due to: health problems, because they do not want to, because they do not feel competent, because of the risk of having to deal with a complaint or a lawsuit, to have a new life project, or because they have no patients. The options available for a doctor at the time of retirement will depend on his/her age, health status, stage of the aging process: autonomy, dependency or old age; his/her physical and mental condition, professional development, economic situation and family environment. A doctor may remain independent, join another family or seek shelter in a retirement home.
Dychtwald, Ken; Erickson, Tamara; Morison, Bob
Companies have been so focused on down-sizing to contain costs that they've largely neglected a looming threat to their competitiveness: a severe shortage of talented workers. The general population is aging and with it, the labor pool. People are living longer, healthier lives, and the birthrate is at a historical low. During the next 15 years, 80% of the native-born workforce growth in North America--and even more in much of Western Europe--is going to be in the over-50 age cohort. When these mature workers begin to retire, there won't be nearly enough young people entering the workforce to compensate. The Bureau of Labor Statistics projects a shortfall of 10 million workers in the United States in 2010, and in countries where the birthrate is well below the population replacement level (particularly in Western Europe), the shortage will hit sooner, be more severe, and remain chronic. The problem won't just be a lack of bodies. Skills, knowledge, experience, and relationships walk out the door every time somebody retires--and they take time and money to replace. And while the brain drain is beginning now, the problem is going to become much more acute in the next decade or so, when baby boomers--more than one-quarter of all Americans, amounting to 76 million people--start hitting their mid sixties. Based on the results of their yearlong research project, the authors of this article offer recommendations for gaining the loyalty of older workers and creating a more flexible approach to retirement that allows people to continue contributing well into their sixties and seventies. Companies can no longer afford to think of retirement as a onetime event, permanently dividing work life from leisure.
MONITORING AGENCY NAME(S) AND ADDRESS(ES) 10. SPONSOR/MONITOR’S ACRONYM(S) 11. SPONSOR/MONITOR’S REPORT NUMBER(S) 12. DISTRIBUTION...retirement choice in 2016. We start by describing the $30,000 bonus as an early, partial cash -out of the servicemember’s retirement pension. This...30,000 cash -out will be “paid back” later in the form of reduced retirement checks. By providing information on how much this cash -out will cost in
In this first National Climate Change Business Plan the Government of Canada affirms its intention to invest up to $500 million over five years on specific actions to reduce greenhouse gas emissions. This sum is in addition to the action plans being put forward by the provincial and territorial governments and in addition to the $625 million investment over five years announced in Budget 2000. Action Plan 2000 targets key sectors, and the measures announced are expected to take Canada one third of the way to achieving the target established in the Kyoto Protocol by reducing Canada's GHG emissions by 65 megatonnes per year during the 2008-2012 commitment period. The key sectors targeted include the areas of transportation, oil, gas and electricity production, industry, buildings, forestry and agriculture, i. e. sectors that together account for over 90 per cent of Canada's GHG emissions.The Action Plan focuses on reducing GHG emissions in a cost effective way; draws extensively on the best ideas put forward by the provinces, territories and other stakeholders; encourages action by industry and consumers; complements measures and actions by the provinces and territories to address regional issues; and sets the stage for long-term behavioural, technological and economic changes. The remainder of Canada's Kyoto commitments will be addressed by actions in future plans which are currently in the process of being developed, together with the development of further details of this first National Climate Change Business Plan
contributions . Many of the MCRMC recommendations were adopted by Congress in the National Defense Authorization Act for FY2016 (P.L. 114-92) and amended by... contribution plan that would require the services to contribute up to 5% of annual base pay into a retirement account for each servicemember. The...TSP). Under the blended system, the services would begin monthly contributions of 1% of basic pay automatically into the servicemember’s TSP account
This paper uses administrative data from millions of 401(k) participants dating back to 1996 as well as several simulation models to determine 401(k) plans' susceptibility to several alleged limitations as well as its potential for significant retirement wealth accumulation for employees working for employers who have chosen to sponsor these plans. What will happen to 401(k) participants after the 2008 market decline will be largely determined by the extent to which the features of automatic enrollment, automatic escalation of contributions, and automatic investment are allowed to play out. Simulation results suggest that the first two features will significantly improve retirement wealth for the lowest-income quartiles going forward, and the third feature (primarily target-date funds) suggest that a large percentage of those on the verge of retirement would benefit significantly by a reduction of equity concentrations to a more age-appropriate level.
Van Dyck, Delfien; Plaete, Jolien; Cardon, Greet; Crombez, Geert; De Bourdeaudhuij, Ilse
The study purpose was to test the effectiveness of the self-regulation eHealth intervention "MyPlan1.0." to increase physical activity (PA) in recently retired Belgian adults. This study was a randomized controlled trial with three points of follow-up/modules (baseline to 1-week to 1-month follow-up). In total, 240 recently retired…
The 500 or so participants in the fifth Preparation for Retirement seminar held at the end of March were unfortunately deprived of the planned session on the AVS due to the unavailability of the Director of the Caisse Cantonale Genevoise de Compensation (CCGC). We have since had formal confirmation that because of an extra workload due to important changes in the Swiss tax and social legislation and the implementation this summer of the maternity insurance in Geneva, the CCGC has suspended its participation in preparation for retirement seminars in the international organisations for the time being. Conscious of the necessity of offering a session dedicated to the AVS, it is with pleasure that we can inform you that one of our legal advisers, Mr Lorenz Stampfli, has accepted to lead this session. In order to allow for adequate preparation we have reserved the following date: Wednesday 26 September from 14.00 to 16.00 in the Main Amphitheatre The session will be open to all people already registered and any o...
The paper explores the effects of the social security system over retirement and labor supply decision of individuals aged 55 to 65 in Chile. We use the 1998 CASEN survey elaborated by the Chilean government. Due to regulations established by the current social security law, two social security systems coexist on 1998: the .Pay-as-you-go. and the individual account system. This property of the dataset, allows us to disentangle the effects of those two systems over retirement and labor supply....
Full Text Available Although active ageing policy and practice vary between countries, we believe that knowledge about the effects of Norwegian companies’ initiatives to delay early retirement is of interest for all countries striving to increase the employment rates of older workers. Since the agreement on a more inclusive working life (IW agreement was signed in 2001, the Norwegian government and social partners have encouraged companies to develop a more senior-friendly policy and implement special measures to retain older workers. In this article, we evaluate the effects of such measures. Our research question is, have preventive measures offered by companies to employees aged 62 years and older contributed to reduced rates of early retirement? We use a ‘difference-in-differences’ approach and examine whether measures at the company level to counteract early retirement actually affect older employees’ retirement decisions, controlling for different individual and enterprise factors. This is done by comparing changes and differences in the individual likelihood of early retirement on the contractual pension (AFP scheme and disability pension in the period 2002–2007 among employees 62 years of age in businesses with and without the corresponding preventive measures/instruments. The analyses show that the likelihood that a 62-year-old worker will retire on the AFP scheme has increased from 2002 to 2007. This applies equally to 62-year-old employees in enterprises that have enacted special measures to retain older workers as well as 62-year-olds in enterprises that have not enacted any such measures. On the other hand, the likelihood that a 62-year-old worker will retire because of disability decreased from 2002 to 2007, among employees in both the intervention enterprises and the control enterprises. However, when controlling for other relevant characteristics of individuals and enterprises, the analysis indicates that the measures as such have had no
Norma L. Nielson
Full Text Available Several proposals have surfaced recently that government develop and offer some sort of voluntary pension plan (VPP. This paper examines areas of public policy on pensions where changes should take place with or without the development of a VPP, including those that promote greater harmonization, portability, and labour mobility. Similarly, the challenges of inertia and annuitization are areas in which a VPP is only one of several available policy devices. In the final analysis, two key arguments provide the only compelling reasons to support the establishment of large, economically efficient funds: that their assets could be managed professionally and efficiently and that they could reduce the distraction from employers’ primary goals. Neither of these arguments, however, offers convincing evidence that VPPs should be developed by government rather than by the private sector. Ultimately, the marketplace will determine whether the additional option of a VPP is needed and whether it is offered on terms that make it more attractive than the other available alternatives.
Full Text Available The study examined retirement adjustment of teacher-retirees in Osun State, and explored the interaction effects of pre-retirement guidance and family in-volvement on retirement adjustment. Exposit-facto design was used. The population comprised retirees from public, civil and private establishments from which 122 teacher-retirees were selected using a multi-stage sampling technique. An instrument: Family Involvement, Pre-retirement Guidance and Retirement Adjustment Questionnaire was used for data collection. Three research questions and three hypotheses guided the study. Data were analyzed using descriptive and inferential statistics. Results revealed that retirees in Osun State are not optimally adjusted, and positive significant interaction effect was found between family involvement and pre-retirement guidance on retirees adjustment, among others. Appropriate policy implications are outlined.
Lindbohm, M-L; Kuosma, E; Taskila, T; Hietanen, P; Carlsen, K; Gudbergsson, S; Gunnarsdottir, H
This study examined whether workplace support, sociodemographic factors and co-morbidity are associated with early retirement or non-employment due to other reasons among breast cancer survivors. We also compared quality of life and chronic symptoms (pain, fatigue, anxiety and depression) among employed, retired and other non-employed breast cancer survivors. We identified breast cancer survivors diagnosed between 1997 and 2002 from either a hospital or a cancer registry in Denmark, Finland, Iceland and Norway (NOCWO study). All patients had been treated with curative intent. Information on employment, co-morbidity and support was collected via a questionnaire. The sample included 1111 working-aged cancer-free survivors who had been employed at the time of diagnosis. We used multinomial logistic regression models to analyse the association of various determinants with early retirement and other non-employment (due to unemployment, subsidized employment or being a homemaker). Low education, low physical quality of life, co-morbidity and pain were associated with both early retirement and other non-employment after cancer. Other non-employed survivors also rated their mental quality of life as lower and experienced anxiety and fatigue more often than all the other survivors. Moreover, they reported a lower level of supervisor support after their diagnosis than the employed survivors. Retired survivors more often reported weak support from colleagues. Differences in ill health and functional status between various groups of non-employed cancer survivors need to be considered when planning policy measures for improving the labour market participation of this population and preventing their early withdrawal from working life. Copyright © 2013 John Wiley & Sons, Ltd.
Full Text Available Objectives: This research was administered with the aim of studying the relationship between retirement syndrome components with general health symptoms in retired adults in Esfahan city. Methods & Materials: This research carried out in descriptive and correlational method. Research statistical population was the retired adults in Esfahan city, among them, 461 persons for participating to research were selected using stratified random sampling, and then retirement syndrome questionnaire (helplessness and failure, older and idleness, trying and new direction and conflict and confusion and general health questionnaire (somatization, anxiety and insomnia, social dysfunction, and depression administered to them. Results: 1 Three components have predictive power for prediction of somatization, consisted of: helplessness and failure, older and idleness, trying and new directions, 2 for prediction of anxiety and insomnia, helplessness and failure, trying and new direction, older and idleness have significant predictive power, 3 For prediction of social dysfunction, helplessness and failure, and trying and new directions have significant predictive power, 4 For prediction of depression also, helplessness and failure and trying and new directions have significant predictive power. Conclusion: The finding of this research revealed that, helplessness and failure along with trying and new direction are the two components which must be considered in retired adults. Therefore, it is essential for this two dimensions established counseling centers related to retirement centers for helping retired adults.
British Columbia (BC) local governments are becoming more interested in completing an energy and greenhouse gas emissions plan for their community as awareness of climate change grows and energy prices escalate. The purpose of this guide was to support local government elected officials and staff in undertaking an energy and emissions planning process. This guide described the purpose and content of a community energy and emissions plan, its benefits, and how to go about creating one. Specifically, the guide provided practical tips, examples from BC communities, and links to more detailed information. Topics that were presented in the guide included engagement; inventories; target-setting; action plan; implementation and monitoring; and funding and resources. It was concluded that the key to long-term success is to maintain good communication with council/board, staff and the public. The document emphasized that it is important to make sure that people know the work being undertaken, and the results achieved, so that momentum is not lost. refs., tabs., figs
Reeuwijk, Kerstin G; de Wind, Astrid; Westerman, Marjan J; Ybema, Jan Fekke; van der Beek, Allard J; Geuskens, Goedele A
Due to the aging of the population and subsequent higher pressure on public finances, there is a need for employees in many European countries to extend their working lives. One way in which this can be achieved is by employees refraining from retiring early. Factors predicting early retirement have been identified in quantitative research, but little is known on why and how these factors influence early retirement. The present qualitative study investigated which non-health related factors influence early retirement, and why and how these factors influence early retirement. A qualitative study among 30 Dutch employees (60-64 years) who retired early, i.e. before the age of 65, was performed by means of face-to-face interviews. Participants were selected from the cohort Study on Transitions in Employment, Ability and Motivation (STREAM). For most employees, a combination of factors played a role in the transition from work to early retirement, and the specific factors involved differed between individuals. Participants reported various factors that pushed towards early retirement ('push factors'), including organizational changes at work, conflicts at work, high work pressure, high physical job demands, and insufficient use of their skills and knowledge by others in the organization. Employees who reported such push factors towards early retirement often felt unable to find another job. Factors attracting towards early retirement ('pull factors') included the wish to do other things outside of work, enjoy life, have more flexibility, spend more time with a spouse or grandchildren, and care for others. In addition, the financial opportunity to retire early played an important role. Factors influenced early retirement via changes in the motivation, ability and opportunity to continue working or retire early. To support the prolongation of working life, it seems important to improve the fit between the physical and psychosocial job characteristics on the one hand, and
Wind, A. de; Leijten, F.R.M.; Hoekstra, T.; Geuskens, G.A.; Burdorf, L.; Beek, A.J. van der
Objectives Before actual retirement, employees may already distance themselves from work, which could be referred to as "mental retirement". However, trajectories of work motivation, ie, work engagement, have not been studied yet. The present study aimed to (i) identify different trajectories of
... by the Board of Actuaries of the Civil Service Retirement System. DATES: The revised present value.... ADDRESSES: Send requests for actuarial assumptions and data to the Board of Actuaries, care of Gregory Kissel, Actuary, Office of Planning and Policy Analysis, Office of Personnel Management, Room 4307, 1900...
Costrell, Robert M.; McGee, Josh B.
In this paper, we present an analysis of the Arkansas Teacher Retirement System (ATRS) pension plan and an empirical investigation of the behavioral response to that plan, as well as to a possible reform plan. We begin by describing the plan parameters and discussing the incentives these parameters create. We then estimate the effect of pension…
Nobahar, Monir; Ahmadi, Fazlollah; Alhani, Fatemah; Khoshknab, Masood Fallahi
According to recent studies, the level of international interest in bridge employment, as return to work after retirement, has been growing. This study aimed to explore the experiences of retired nurses in Iran with regard to making a decision about whether or not to seek bridge employment. A qualitative study using a content analysis approach was conducted in an urban area of Iran. Semi-structured interviews were held with 20 Iranian male and female retired nurses chosen using purposive sampling. During the data analysis, two main themes were identified as the participants' thoughts supporting the decision of seeking bridge employment. The first theme was entitled motivational factors with categories of ``serving the society,'' ``maintaining and promoting health,'' ``tendency toward flexible work,'' and ``maintaining the role and activity.'' The second theme was entitled forcing factors with categories of ``ardent desire to work (pluralistic ignorance)'' and ``financial need.' ' While some Iranian retired nurses were not motivated to seek work for health reasons, most preferred to return to work after retirement. They were motivated to seek bridge employment out of a desire to serve the society, to promote their own physical and mental health, to continue to use their expertise and maintain the worker role, and because of financial needs and perceived societal expectations. Nurses seeking employment later in life tended to look for job flexibility and less stressful work. Therefore, the management of bridge employment by healthcare system authorities can be useful in making use of the invaluable experiences of retired nurses.
Saujot, Mathieu; Ruedinger, Andreas; Guerry, Anais
As energy transition implies important societal transformations, the authors developed an analysis framework about the main questions raised by local governance: role of the different levels of local communities in the definition and implementation of strategies, key stakes of the sharing of skills between the State and communities, and stakes regarding spatial planning in this context. The authors first address the issue of relevance of the different territorial scales in a context of evolution of energy policies. They propose an overview of this issue with reference to the debate on local governance of transition. They discuss the return on experience of decentralisation in other fields of action of local policies, notably urban planning and spatial planning
E.J. Jordan; C.A. Vogt; Linda Kruger; N. Grewe
This research examines a unique case of tourism planning and explores the relationships between governance, power, and citizen participation in community decision-making. In less than two years, the community of Sitka, Alaska, undertook two separate tourism-planning processes in response to proposed tourism development. The first plan followed a participant-led...
Aldeman, Chad; Aguirre, Paulina S. Diaz
Years of irresponsible budgeting practices have left the Teachers' Retirement System of Louisiana (TRSL) almost $12 billion in debt. Without significant reforms, Louisiana's pension problems are likely to get worse, with further negative consequences for workers and schools. This report shows that schools participating in the TRSL already must…
... adopted by the Board of Actuaries of the Civil Service Retirement System. DATES: The revised present value.... ADDRESSES: Send requests for actuarial assumptions and data to the Board of Actuaries, care of Gregory Kissel, Actuary, Office of Planning and Policy Analysis, Office of Personnel Management, Room 4307, 1900...
... in the economic assumptions adopted by the Board of Actuaries of the Civil Service Retirement System... data to the Board of Actuaries, care of Gregory Kissel, Actuary, Office of Planning and Policy Analysis...- 335, based on changed economic assumptions adopted by the Board of Actuaries of the CSRS. Those...
Bennett, Misty M; Beehr, Terry A; Lepisto, Lawrence R
Older employees are increasingly accepting bridge employment, which occurs when older workers take employment for pay after they retire from their main career. This study examined predictors of workers' decisions to engage in bridge employment versus full retirement and career employment. A national sample of 482 older people in the United States was surveyed regarding various work-related and nonwork related predictors of retirement decisions, and their retirement status was measured 5 years later. In bivariate analyses, both work-related variables (career goal achievement and experienced pressure to retire) and nonwork-related variables (psychological distress and traditional gender role orientation) predicted taking bridge employment, but in multinomial logistic regression, only nonwork variables had unique effects. Few predictors differentiated the bridge employed and fully retired groups. Nonwork variables were salient in making the decision to retire, and bridge employment may be conceptually more similar to full retirement than to career employment. © The Author(s) 2016.
Davies, Eleanor M. M.; Van der Heijden, Beatrice I. J. M.; Flynn, Matt
In the contemporary workplace, insight into retirement behaviors is of crucial importance. Previous empirical evidence has found mixed results regarding the relationship between work attitudes, such as job satisfaction, and retirement behaviors, suggesting that further scholarly examination incorporating moderating and mediating variables into retirement models is needed. Drawing on comparative models of attitude to retirement, we hypothesized a direct relationship between job satisfaction and intended retirement age for workers with a high household income and an indirect relationship between job satisfaction and intended retirement age, via retirement attitude, for workers with a low or mean household income. We collected data from a sample of 590 United Kingdom workers aged 50+. Using conditional process analysis, we found that the underlying mechanisms in our research model differ according to socio-economic status. We found no direct effect between job satisfaction and intended retirement age. However, an indirect effect was observed between job satisfaction and intended retirement age, via retirement attitude, for both low- and mean-household income individuals. Specifically, the relationship between job satisfaction and retirement attitude differed according to socio-economic group: for high-household income older workers, there was no relationship between job satisfaction and retirement attitude. However, for low- and mean-household income older workers, we observed a negative relationship between job satisfaction and retirement attitude. Otherwise stated, increases in job satisfaction for mean and low household income workers are likely to make the prospect of retirement less attractive. Therefore, we argue that utmost care must be taken around the conditions under which lower income employees will continue their work when getting older in order to protect their sustainable employability. PMID:28620329
Eleanor M. M. Davies
Full Text Available In the contemporary workplace, insight into retirement behaviors is of crucial importance. Previous empirical evidence has found mixed results regarding the relationship between work attitudes, such as job satisfaction, and retirement behaviors, suggesting that further scholarly examination incorporating moderating and mediating variables into retirement models is needed. Drawing on comparative models of attitude to retirement, we hypothesized a direct relationship between job satisfaction and intended retirement age for workers with a high household income and an indirect relationship between job satisfaction and intended retirement age, via retirement attitude, for workers with a low or mean household income. We collected data from a sample of 590 United Kingdom workers aged 50+. Using conditional process analysis, we found that the underlying mechanisms in our research model differ according to socio-economic status. We found no direct effect between job satisfaction and intended retirement age. However, an indirect effect was observed between job satisfaction and intended retirement age, via retirement attitude, for both low- and mean-household income individuals. Specifically, the relationship between job satisfaction and retirement attitude differed according to socio-economic group: for high-household income older workers, there was no relationship between job satisfaction and retirement attitude. However, for low- and mean-household income older workers, we observed a negative relationship between job satisfaction and retirement attitude. Otherwise stated, increases in job satisfaction for mean and low household income workers are likely to make the prospect of retirement less attractive. Therefore, we argue that utmost care must be taken around the conditions under which lower income employees will continue their work when getting older in order to protect their sustainable employability.
Davies, Eleanor M M; Van der Heijden, Beatrice I J M; Flynn, Matt
In the contemporary workplace, insight into retirement behaviors is of crucial importance. Previous empirical evidence has found mixed results regarding the relationship between work attitudes, such as job satisfaction, and retirement behaviors, suggesting that further scholarly examination incorporating moderating and mediating variables into retirement models is needed. Drawing on comparative models of attitude to retirement, we hypothesized a direct relationship between job satisfaction and intended retirement age for workers with a high household income and an indirect relationship between job satisfaction and intended retirement age, via retirement attitude, for workers with a low or mean household income. We collected data from a sample of 590 United Kingdom workers aged 50+. Using conditional process analysis, we found that the underlying mechanisms in our research model differ according to socio-economic status. We found no direct effect between job satisfaction and intended retirement age. However, an indirect effect was observed between job satisfaction and intended retirement age, via retirement attitude, for both low- and mean-household income individuals. Specifically, the relationship between job satisfaction and retirement attitude differed according to socio-economic group: for high-household income older workers, there was no relationship between job satisfaction and retirement attitude. However, for low- and mean-household income older workers, we observed a negative relationship between job satisfaction and retirement attitude. Otherwise stated, increases in job satisfaction for mean and low household income workers are likely to make the prospect of retirement less attractive. Therefore, we argue that utmost care must be taken around the conditions under which lower income employees will continue their work when getting older in order to protect their sustainable employability.
... Parts Planning to Acquire Government Aircraft § 102-33.70 What directives must we follow when planning... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false What directives must we follow when planning to acquire Government aircraft? 102-33.70 Section 102-33.70 Public Contracts and...
Fitzpatrick, Maria D.; Lovenheim, Michael F.
As public budgets have grown tighter over the past decade, states and school districts have sought ways to control the growth of spending. One increasingly common strategy employed to rein in costs is to offer experienced teachers with high salaries financial incentives to retire early. Although early retirement incentive (ERI) programs have been…
Full Text Available The current state of the global market pension was marked by the fact that pension systems in all countries have been strongly affected by the financial and economic crisis that broke out in the world, especially in 2008-2010. Its effects were felt primarily to pension schemes with definedcontributions (DC, the participants in these plans being increasingly skeptical about the ability to afford decent pensions. Type defined contribution plans requires, on the one hand, periods and higher contribution rates, and on the other investment plans and strategies for managing longevity risk appropriate to the market in which they operate and the characteristics of the participants in this market.Currently in the world there are many types of retirement plans, the most important criteria to classify them are pension plan administrator, the connection with the employer participants, method of calculation of the benefit, the perspective of the pension plan, the way the pension plan isfund or through the multi-pillar approach.Keywords: defined benefit (DB type, defined contribution (DC type, pension system, annuity rate
Alice M. Rivlin
For common reasons the federal government and most state governments face rising structural deficits even as the economy recovers. An aging population requires retirement income and increasingly expensive health care, while a prosperous economy requires public investment in skills, technology, and infrastructure. However, stressed federal and state tax systems are increasingly inadequate. The author revisits proposals, made twenty years ago, for substantial changes in fiscal federalism design...
Raymo, James M; Sweeney, Megan M
This study investigates relationships between retirement preferences and perceived levels of work-family conflict. Using the large sample of 52-54-year-old respondents to the 1992 Wisconsin Longitudinal Study, we estimated multinomial logistic regression models of preferences for partial and full retirement within the next 10 years. We examined the association between retirement preferences and perceived work-family conflict, evaluated the extent to which work-family conflict was a mediating mechanism between stressful work and family circumstances and preferences to retire, and explored potential gender differences in the association between work-family conflict and preferring retirement. Work-family conflict was positively related to preferences for both full and partial retirement. Yet work-family conflict did not appear to mediate relationships between stressful work and family environments and retirement preferences, nor did significant gender differences emerge in this association. Our analyses provide the first direct evidence of the role played by work-family conflict in the early stages of the retirement process, although we were not able to identify the sources of conflict underlying this relationship. Identifying the sources of this conflict and the psychological mechanisms linking work-family conflict to retirement preferences is an important task for future researchers.
The concept of career set is employed as the basis for a framework designed to analyze the impact of women's involvement in multiple careers on their adjustment to retirement. The author concludes that the familial careers engaged in by married, working women have a mediative effect on their transition to retirement. (Author/CT)
Quinn, J F
contribution plans, which do not contain the age-specific retirement incentives that many defined benefit plans do. The composition of jobs has shifted from manufacturing to service occupations. Americans are living longer and healthier lives, and many look forward to years to productive activity after age 65. These structural changes have been accompanied by an important cyclical factor: the strength of the American economy over the past decade. This has increased the demand for all types of labor, including older workers. Evidence suggests that there is more than this cyclical factor at work, however, and that new attitudes about work late in life are developing. Labor supply decisions late in life are correlated in expected ways with the individual's health (measured in several ways), age, and pension and health insurance status. Retirement patterns in America are much richer and more varied than the stereotypical one-step view of retirement suggests. Public policy is changing in ways that make continued work late in life more likely. If employers are willing to provide flexible job opportunities to meet the needs of these potential employees, then society can tap a growing pool of older, experienced, and willing workers for years to come.
Hong, Hyo-Jeong; Hwang, Hye-Seon; Nam, Young-Mi; Jin, You-Rim; Song, Eun-Ju
people in Korea take far more of interests in the nuclear power and whether they are well prepared in the lack of professional human resources in it in the foreseeable future. It is not only personal concern anymore, but also national concern. In particular, retirement of the experts in nuclear field is likely to lose our competitiveness in the world. It is urgent for the government and institutions in Korea to develop and implement educational programs to secure talented new workers in the field. This study analyzes the cases of development and application of pre-retirement education program of professional talent for nuclear R and D and then, develops programs to help nuclear experts retire. In the aging society, the retirement of nuclear experts is a national issue that can't be held off rather than each worker's problem. There are people at the heart of nuclear power. This is because they do all the things like nuclear research and development, and construction. Therefore, it is important to nurture and manage nuclear experts to ensure the sustainable development of nuclear with safety. This program could be also a part of it. KAERI is the organization that represents domestic nuclear research, and it is their urgent task to prepare for aging.
Locke, Jr, Donald C
.... Government Interagency Plan for reconstruction and stabilization. The elements were derived from study of World War II and Operation Iraqi Freedom post conflict reconstruction and stabilization operations...
Rocco de Campos Pereira, R.C.; Schweitzer, R.
This paper describes governance arrangements in regional spatial planning and water resources management at the regional level from a normative point of view. It discusses the need to integrate spatial planning and resources management in order to deliver socially sustainable integral territorial management. To accomplish this, the Metropolitan Area of São Paulo (MASP) was analysed as a case study, in order to demonstrate the challenges met by public administrators and planners regarding the ...
The paper investigated the positive impact of retirement education on the future lives of the adult workers who are .... relationships, assume personal and civic responsibilities, care ... devastating phenomenon and a route to poverty. The retired ...
experience unique stresses associated with parental deployments and frequent relocations that can adversely affect academic performance. A military...publicpolicy.wharton.upenn.edu/live/news/317-an-affordable-and-equitable-retirement-system-for. See also David B. Newman , Mitigating the Inequity of...insurance plans in the style of FEHBP would greatly expand choice in health care and consequently provide beneficiaries demonstrated value, as
Lueken, Roger; Apt, Jay; Sowell, Fallaw
We investigate the resource adequacy requirements of the PJM Interconnection, and the sensitivity of capacity procurement decisions to the choice of reliability metric used to measure resource adequacy. Assuming that plants fail independently, we find that PJM's 2010 reserve margin of 20.5% was sufficient to achieve the stated reliability standard of one loss of load event per ten years, with 0.012 expected loss of load events per year. PJM could reduce reserve margins to 13% and still achieve adequate levels of reliability as measured by the 2.4 Loss of Load Hours metric and the 0.001% Unserved Energy metric, which are used by other U.S. and international systems. A reserve margin of 13–15% would minimize long-run system costs. Reducing reserve margins from 20.5% to 13% in 2010 would have reduced PJM's capacity procurement by 11 GW, the same amount of coal capacity that PJM has identified as at high risk of retirement. We also investigate the risk posed by correlated failures among generators, a risk traditionally not modeled by system planners. We illustrate that three types of correlated failures may increase outage risks: natural gas supply disruptions, reduced reliability among generators during winter months, and the simultaneous shutdown of multiple nuclear generators for regulatory reasons. - Highlights: • We model resource adequacy in the PJM Interconnection. • If plant failures are independent, PJM could retire 11 GW of “at-risk” coal. • If plant failures are correlated, risks of supply shortages may be high.
Cashen, Kevin M.
CHDS State/Local National and state homeland security strategies call for continuity of operations plan development. The 2006 Nationwide Plan Review Phase II Report identifies continuity of operations plan development as a state and local goal with a federal goal of providing continuity of operations plan development support. Most local governments do not have a continuity of operation plan or it needs to be updated. Continuity of operations plan guidance is provided by a variety of intern...
Denier, Nicole; Clouston, Sean A P; Richards, Marcus; Hofer, Scott M
This study examines the relationship between retirement and cognitive aging. We build on previous research by exploring how different specifications of retirement that reflect diverse pathways out of the labor market, including reason for leaving the pre-retirement job and duration spent in retirement, impact three domains of cognitive functioning. We further assess how early-life factors, including adolescent cognition, and mid-life work experiences, condition these relationships. To do so, we draw on longitudinal data from the Wisconsin Longitudinal Study , a cohort study of Wisconsin high school graduates collected prospectively starting in 1957 until most recently in 2011 when individuals were aged 71. Results indicate that retirement, on average, is associated with improved abstract reasoning, but not with verbal memory or verbal fluency. Yet, when accounting for the reason individuals left their pre-retirement job, those who had retired for health reasons had both lower verbal memory and verbal fluency scores and those who had retired voluntarily or for family reasons had improved abstract memory scores. Together, the results suggest that retirement has an inconsistent effect on cognitive aging across cognitive domains and that the conditions surrounding the retirement decision are important to understanding cognitive functioning at older ages.
Gadourek, I; van Gelder, B A
The four dimensions of the attitudes towards retirement (see Bela A. van Gelder in this journal) of 553 male older employees from the northern Netherlands were analyzed in relation to over 250 predictor-variables by means of stepwise regressions and other techniques of multivariate analysis. A simple recursive model of Palmore, George and Fillenbaum served as a theoretical guideline. It was tested by means of a path-analysis as applied to 20 variables (see figure I). Many of over 100 hypotheses derived from the model and from the literature pertaining to the matter were upheld by the findings: Single persons, widowers, or persons not happily married, appeared more afraid of retirement. If married, the spouse's judgment (as perceived by the interviewee) was another factor of importance. Age also affected the attitude: the closer one approaches retirement, the less positive the attitude (though age showed little variation in our sample). Social status affected the attitude indirectly: manual workers performing physically exacting (dirty, irregular, etc.) jobs, who have been working for the same firm (or: service) over a long period of time, who started earning money early in life--these were positive in their attitude towards retirement (needless to say that all these findings concern the attribute of lower status jobs). Finally, the pattern of and the attitude towards leisure played a decisive role: employees with strong work-involvement, with less intensive and rich leisure time, with intensive ties with people from their work-scene--these showed more negative attitudes towards retirement than their counterparts.
Social Security Administration — This dataset contains information about the Retirement Applicant Survey (RAS). The survey measured satisfaction results with the retirement application process. The...
Binswanger, J.; Carman, K.G.
Large variations in retirement wealth are common, with some households accumulating hundreds of thousands of dollars and others accumulating next to nothing. We examine to what extent formal planning or simple rules of thumb contribute to these differences in wealth accumulation. In particular, we
Nielsen, Torben Heien; Leth-Petersen, Søren; Chetty, Raj
Do retirement savings policies – such as tax subsidies or employer-provided pension plans – increase total saving for retirement or simply induce shifting across accounts? We revisit this classic question using 45 million observations on savings for the population of Denmark. We find that a policy......'s impact on total savings depends critically on whether it changes savings rates by active or passive choice. Tax subsidies, which rely upon individuals to take an action to raise savings, have small impacts on total wealth. We estimate that each $1 of tax expenditure on subsidies increases total saving...... by 1 cent. In contrast, policies that raise savings automatically even if individuals take no action – such as employer-provided pensions or automatic contributions to retirement accounts – increase wealth accumulation substantially. Price subsidies only affect the behavior of active savers who respond...
Full Text Available One consequence of demographic change is a longer average remaining lifetime after retirement. Many people, however, remain able and willing to continue work after reaching the statutory retirement age. Given the predicted shortage of skilled workers in the future, post-retirement activities have the potential to contribute to both organisations and society. This article elaborates the prerequisites for productivity in retirement age and the changed nature of retirement at present.It also quantifies the extent to which activities are continued at retirement age. Paid employment still occurs beyond the applicable retirement age, whereby with increasing age, self-employed persons and assistant family members make up the lion’s share of the statistics. An empirical study shows the concrete situation of active retirees and the prerequisites for post-retirement activities. At the explorative level, individual experiences of the transition into retirement, the reasons for and the framework of post-retirement activities, motivational factors in job design, and physical and intellectual demands before and after retirement are characterised. The qualitative data indicate that retirement entails changes towards more flexible structures in everyday life. Decisive reasons for taking up post-retirement activities are the desire to help, pass on knowledge or remain active; personal development and contact with others; and gaining appreciation and recognition. Flexible job design and freedom to make decisions constitute major elements in shaping post-retirement working activities. Offering autonomy, skill variety, and task significance is important for the design of post-retirement activities. The paper closes with identifying relevant research fields and the concrete need to take action at individual, organisational, and societal levels. All in all, the transition from working life to retirement should be made flexible enough to do greater justice to the
Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj
Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the…
The five essays in this dissertation address a range of topics in the micro-economic literature on partial retirement. The focus is on the labor market behavior of older age groups. The essays examine the economic and non-economic determinants of partial retirement behavior, the effect of partial
Full Text Available With many developed countries experiencing the aging of the population, older people play a large role in contributing to environmental problems but also to environmental solutions. The purpose of this research is to understand the awareness and behavior of current older people living in retirement villages towards sustainability development. To achieve this, a sustainability literacy survey was conducted with 65 older residents of a private retirement village located 10 Km outside the Brisbane, Australia’s central business district (CBD. Most of residents recognized the importance of environment protection and would like to lead a more environmentally friendly lifestyle. In addition, the majority were willing to pay higher prices for a living environment with sustainable features. The importance of positive social communications was emphasized with most residents having established good relationships with others in the village. The findings provide an important insight into consumer perspectives regarding the sustainable features that should and can be incorporated into the village planning and development.
Xia, Bo; Zuo, Jian; Skitmore, Martin; Buys, Laurie; Hu, Xin
With many developed countries experiencing the aging of the population, older people play a large role in contributing to environmental problems but also to environmental solutions. The purpose of this research is to understand the awareness and behavior of current older people living in retirement villages towards sustainability development. To achieve this, a sustainability literacy survey was conducted with 65 older residents of a private retirement village located 10 Km outside the Brisbane, Australia's central business district (CBD). Most of residents recognized the importance of environment protection and would like to lead a more environmentally friendly lifestyle. In addition, the majority were willing to pay higher prices for a living environment with sustainable features. The importance of positive social communications was emphasized with most residents having established good relationships with others in the village. The findings provide an important insight into consumer perspectives regarding the sustainable features that should and can be incorporated into the village planning and development.
Following discussion at the Standing Concertation Committee at its meeting on 25 January 2006, the Director-General has approved the extension of the Progressive Retirement Programme with effect from 1 April 2006 until 31 March 2007; of the Part-time work scheme as a pre-retirement measure for the year 2006, i.e. until 31 December 2006. Human Resources Department Tel. 72808/74128
Galama, Titus; Kapteyn, Arie; Fonseca, Raquel; Michaud, Pierre-Carl
We formulate a stylized structural model of health, wealth accumulation and retirement decisions building on the human capital framework of health and derive analytic solutions for the time paths of consumption, health, health investment, savings and retirement. We argue that the literature has been unnecessarily restrictive in assuming that health is always at the “optimal” health level. Exploring the properties of corner solutions we find that advances in population health decrease the retirement age, while at the same time individuals retire when their health has deteriorated. This potentially explains why retirees point to deteriorating health as an important reason for early retirement, while retirement ages have continued to fall in the developed world, despite continued improvements in population health and mortality. In our model, workers with higher human capital invest more in health and because they stay healthier retire later than those with lower human capital whose health deteriorates faster. PMID:22888062
de Bresser, Jochem; van Soest, Arthur
This paper investigates the relationship between subjective expectations regarding the replacement rate of income at retirement and several measures of pension satisfaction. We use panel data on Dutch employees, analyzed with fixed effects models, allowing for correlation between unobserved
Coombs, Jennifer; Hooker, Roderick S; Brunisholz, Kim
To determine predictors of physician assistants (PAs) to retire or to permanently leave clinical practice. The intent was to create a measure of retention and attrition for purposes of forecasting PA supply. All PAs 55 years or older who were nationally certified in 2011 were surveyed. Statistical analysis included descriptive measures utilizing means, standard deviations, range, and proportions for all survey questions. Univariable analysis using χ² test for the categorical variables determined gender differences in participants' intent to retire. A studentized t test analysis for continuous variables was used to compare differences across genders. The estimated time interval until retirement was calculated using reported values from participants and then subtracting their projected retirement age from current age. The same calculation was used for estimating PA career length from date of graduation to retirement. For all analyses, a P value surveyed online; 4767 responded (38%). The mean age was 60 years and the years in clinical practice was 25. When asked to predict a retirement date or age, the mean duration of working beyond age 55 years was 12 years (range 5 to 21). Most respondents reported being confident they were on track to retire with an adequate income. The significant differences that emerged were that men were more confident than women in preparing to retire, having enough money for medical expenses, and being able to live comfortably in retirement. Men more than women stated that, if forced to retire, they were more confident in the preparation to do so. PAs 55 years and older report they are likely to delay retirement from practice until age 67 years, on average. Women were less confident than men in retirement preparation. This age prediction expands career projections and refines forecasting models for the profession. Correlations based on expectation-action chain of events should be developed by periodically measuring how often intent and
Gad, Kamille Sofie Tågholt; Nielsen, Jeppe Woetmann
Uncertain time of retirement and uncertain structure of retirement benefits are risk factors for life insurance companies. Nevertheless, classical life insurance models assume these are deterministic. In this paper, we include the risk from stochastic time of retirement and stochastic benefit...... structure in a classical finite-state Markov model for a life insurance contract. We include discontinuities in the distribution of the retirement time. First, we derive formulas for appropriate scaling of the benefits according to the time of retirement and discuss the link between the scaling...... and the guarantees provided. Stochastic retirement creates a need to rethink the construction of disability products for high ages and ways to handle this are discussed. We show how to calculate market reserves and how to use modified transition probabilities to calculate expected cash flows without significantly...
Human Resources Department
Following discussion at the Standing Concertation Committee at its meeting on 8 November 2004, the Director-General has approved the extension of the Progressive Retirement Programme with effect from 1 April 2005 until 31 March 2006; of the Part-time work scheme as a pre-retirement measure with effect from 1 January 2005 until 31 December 2005. Human Resources Department Tel. 72808/74128
Upon the proposal of the Standing Concertation Committee at its meeting on 25 November 2002, the Director-General has approved the extension for one year of the Progressive Retirement Programme with effect from 1 April 2003, and of the Part-time work scheme as a pre-retirement measure for requested effective dates commencing not later than 1 January 2004. Human Resources Division Tel. 72808/74128
Silvana Pozzebon; Olivia S. Mitchell
In this paper we examine the economic and family determinants of married women's retirement behavior. A model of wives' retirement decisions is developed and tested empirically using data on working married women. Estimated response parameters are compared to those obtained previously for male workers. Our findings are directly relevant to policy questions regarding pension and Social Security reform.
Dr Jon D. Stanford; Michael Drew; Bill Stanhope
This paper examines the findings of the research project, 'Retirement Savings: Drivers and Desires', commissioned by the Investment and Financial Services Association Ltd (IFSA) in 2001. The paper investigates retirement savings decision-making and retirement income product stream choice. This paper presents a quantitative analysis of questionnaire data relating to decision-making and product stream choice and discusses these issues in the context of established research findings about retire...
Raymo, James M.; Sweeney, Megan M
Objectives: This study investigates relationships between perceived levels of work-family conflict and retirement preferences. Methods: Using the large sample of 52-54 year-old respondents to the 1992 Wisconsin Longitudinal Study, we estimate multinomial logistic regression models of preferences for partial and full retirement within the next ten years. We examine the association between preferences for retirement and perceived work-family conflict...
Full Text Available This study examined retirement decisions among people who had left working life before 65 years of age and those working beyond 65 years in an extended working life. The results were used to make a model about their considerations, weighting and decision making, and important factors and themes in working beyond 65 years of age or retiring before 65. The interviewees seemed to have considered and weighed their own best life balance to finally result in their identity as (older worker or early retiree. They included their work situation and social surroundings in descriptions of their planning and retirement decision making. The most important themes in these descriptions were (i personal health and well-being; (ii personal finances; (iii possibilities for social inclusion; and (iv possibilities for self-crediting by meaningful activities. Those identifying themselves as older workers had possibilities in their life situation to manage their work in relation to their functional ageing and health situation; felt important to others and socially included in the workplace; and did meaningful tasks and felt empowered in their working life. Those who had left the working life before 65 years of age describe a better possibility to this outside the working life and left as soon as they acquire a sufficient pension. The results and model presented here on how people perceive their identity as older worker or early retiree will hopefully contribute to understanding retirement planning and to the formulation of strategies to extend working life.
What shapes the size of a personal network of family and friends? We concentrates here on the effect of retirement from the work force. Retirement provides time to develop personal relationships; but it deprives from a potential supply of colleague friends. We draw evidence from a new question on the number of confidants in the 4th wave of the Survey of Health, Ageing and Retirement in Europe. The survey allows to take into account many potential determinants of personal relations. A first re...
Vorchheiner, Alan H; Zaleta, Cynthia O
Much of the discussion on the decumulation phase of retirement savings has focused on the lack of any lifetime annuities. But there is a whole range of options sponsors can employ to facilitate the generation of retirement income and bolster financial wellness. As U.S. employers show no sign of substantially increasing spending on compensation or benefits, it is imperative that human resources professionals help employees--particularly the retiring baby boomers--to maximize what they have saved. This article presents five first-step ideas toward achieving that goal.
.... (a) To satisfy the requirements of § 838.804(b)(1), a court order must contain language identifying...) and (b)(2) of this section, language referring to benefits under another retirement system, such as military retired pay, Foreign Service retirement benefits and Central Intelligence Agency retirement...
Abolhassani, Marzieh; Alessie, Rob
This paper studies the effect of both retirement and unemployment on life satisfaction, using subjective satisfaction indicators from the German Socio-Economic Panel. Moreover, we analyze how accurate individuals anticipate changes in satisfaction around retirement, as well as the correlation
... order must contain language identifying the retirement system to be affected. For example, “CSRS,” “FERS... in paragraphs (b)(1) and (b)(2) of this section, language referring to benefits under another retirement system, such as military retired pay, Foreign Service retirement benefits or Central Intelligence...
Wouter de Tavernier
Full Text Available Debates surrounding working longer focus mainly on increasing legal and effective retirement ages, leaving the preferred retirement age largely overlooked. There is a large East-West divide in Europe regarding the latter, with individuals in Eastern Europe wanting to retire earlier. We aim to explain this gap in terms of differences in working conditions and state-level legal conditions. Using the 2010 European Social Survey data on employed individuals aged 50-70 in 24 countries enriched with country-level information, we find that part of the explanation is found in the lower levels of job control found in Eastern Europe. Moreover, the results suggest that Karasek’s job demand/control model fits better in Western than Eastern European countries. Another explanation is found at the country level, where the legal retirement age accounts for a major part of the gap in preferred retirement ages between East and West.
... to implement phased retirement, a new human resources tool that allows full-time employees to work a..., 582, 831, et al. Phased Retirement; Proposed Rule #0;#0;Federal Register / Vol. 78 , No. 108 / Wednesday, June 5, 2013 / Proposed Rules#0;#0; [[Page 33912
Full Text Available Planning the implementation of quality is a complex process that depends on many different internal and external factors. Planning the implementation is defined by the capabilities of management to visualize the market position of the company and to evaluate the company's strengths, weaknesses, opportunities, and threats. Serving to the company's purposes, planning the implementation of quality must be integrated into the company's strategic objectives and then transferred to other parts of the organization utilizing the corporate governance system. Planning the implementation, as a part of strategy formulation, should be reflected in: 1 company's vision and mission development, 2 goals setting, 3 strategy development aimed at achieving goals, 4 implementation and execution of the strategy, and 4 monitoring, evaluation, control, and readjustment of the strategy. Finally, planning must account for all possible implementation barriers.
Konicz, Agnieszka Karolina; Pisinger, David; Weissensteiner, Alex
or a joint life, and pay xed or variable benets. We further include transaction costs on stocks and bonds, and surrender charges on pure endowments. We show that despite high surrender charges, annuities are the primary asset class in a portfolio, and that annuity income is never fully consumed, but used...... for rebalancing purposes. We argue that the optimal retirement product for a household is much more complex than any of those available in the market. Every household should be oered an annuity tailored to its needs, using a unique combination of assets and mortality protection levels....
Konicz, Agnieszka Karolina; Weissensteiner, Alex
a single or a joint life, and pay fixed or variable benefits. We further include transaction costs on stocks and bonds, and surrender charges on pure endowments. We show that despite high surrender charges, annuities are the primary asset class in a portfolio, and that annuity income is never fully...... consumed, but used for rebalancing purposes. We argue that the optimal retirement product for a household is much more complex than any of those available in the market. Every household should be offered an annuity tailored to its needs, using a unique combination of assets and mortality protection levels....
...' retirement pay. 3.754 Section 3.754 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS... officers' retirement pay. A retired emergency officer of World War I has basic eligibility to retirement pay by the Department of Veterans Affairs under Pub. L. 87-875 (sec. 11(b), Pub. L. 85-857) from date...
Filbay, Stephanie R; Bishop, Felicity; Peirce, Nicholas; Jones, Mary E; Arden, Nigel K
Retired professional cricketers shared unique experiences and may possess specific psychological attributes with potential to influence quality of life (QOL). Additionally, pain and osteoarthritis can be common in retired athletes which may negatively impact QOL. However, QOL in retired athletes is poorly understood. This study explores the following questions from the personal perspective of retired cricketers: How do retired cricketers perceive and experience musculoskeletal pain and function in daily life? Are there any psychological attributes that might enhance or hinder retired cricketers' QOL? A qualitative study using semistructured interviews, which were subject to inductive, thematic analysis. A data-driven, iterative approach to data coding was employed. All participants had lived and played professional cricket in the UK and were living in the UK or abroad at the time of interview. Eighteen male participants, aged a mean 57±11 (range 34-77) years had played professional cricket for a mean 12±7 seasons and had been retired from professional cricket on average 23±9 years. Fifteen participants reported pain or joint difficulties and all but one was satisfied with their QOL. Most retired cricketers reflected on experiences during their cricket career that may be associated with the psychological attributes that these individuals shared, including resilience and a positive attitude. Additional attributes included a high sense of body awareness, an ability to self-manage pain and adapt lifestyle choices to accommodate physical limitations. Participants felt fortunate and proud to have played professional cricket, which may have further contributed to the high QOL in this group of retired cricketers. Most retired cricketers in this study were living with pain or joint difficulties. Despite this, all but one was satisfied or very satisfied with their QOL. This may be partly explained by the positive psychological attributes that these retired cricketers
Full Text Available The rising number of European retirement migrants on the Mediterranean coasts, especially in the EU countries shows that the practical and scientific relevance of the new forms of migration in Europe is on the rise. "Retirement migration" evolved from a descriptive term to a candidate for a scientific or a research concept, at least if the use of the term IRM (international retirement migration is considered. However, it is necessary to solve several problems before this term can really become a coherent concept, useful for the research and explanation of the "new" migration phenomena. The author claims that the studies usually do not distinguish clearly between the migration of the elderly and retirement migration. The naming of the concept in this case mixes the characteristics of the migrants with the reasons for migration. The author shows that the usually mentioned reasons for retirement migration cannot be clearly formulated as factors which explain retirement migration. Further on, retirement as such is not a pull, push or staying put factor. Migration rates of retired, although rising, are still lower than the migration rates of the working age population and the Mediterranean coasts are also a destination for professionals who have the means to detach the job from the working place. Only a combination of conditions that enable migration and migration decisions, as well as a combination of motives and perceptions of reasons for migration, can partially "explain" retirement migration. One of the problems that has to be solved before retirement migration is affirmed as a concept is the treatment of the temporal and spatial dimension of the mobility of the retirement migrants. The author shows that a clear positioning of retirement migration on the temporal scale of mobility is hardly possible. Retirement migration is too wide and too complex a phenomenon to be easily localised in the temporal continuum. A similar problem emerges when the
Following a recommendation by the Standing Concertation Commitee at its meeting on 9 November 2015 and approval by the Director-General, please note that: the Progressive Retirement Programme has been extended by one year, from 1 April 2016 until 31 March 2017; the Scheme of Part-Time Work as a Pre-retirement Measure has also been extended by one year, from 1 January 2016 until 31 December 2016. Further information is available from the following sites: - https://admin-eguide.web.cern.ch/en/procedure/progressive-retirement-programme-prp - https://admin-eguide.web.cern.ch/en/procedure/part-time-work-pre-retirement-measure-ptp Human Resources Department Tel.: 79257 / 73903
... 7 Agriculture 12 2010-01-01 2010-01-01 false Extraordinary retirement losses. 1773.41 Section 1773... Documentation § 1773.41 Extraordinary retirement losses. The CPA's workpapers must contain an analysis of retirement losses, including any required approval by a regulatory commission with jurisdiction in the matter...
María de los Ángeles AGUILERA VELASCO
Full Text Available A documentary compilation of films about retirement was made. The data of films, in language or subtitles in Spanish, that had an argument related to retirement or that their protagonists evidenced experiences of the retirement were included. The documentary compilation was made through the stages of search and analysis. 54 films were found and organized into nine categories. The oldest film was from 1924 and the most recent of 2017. 61.11% of films were made as of 2010. In five films (9.25% the protagonists wanted to commit suicide when leaving work. Euthanasia (5.55% was performed in three films (5.55%. The problem of retirement in women was found only in four films (7.49%. In 18 films (33.33% the male protagonists went through widowhood. Twenty-one countries participated in productions, the United States produced 21 films (38.88%. It provides a very extensive collection of valuable films that convey great lessons, allow us to reflect and raise awareness of this stage of life. It is recommended to socialize the films through socio-educational interventions and investigations, as well as to begin to inquire scientifically about the relationship between suicide and euthanasia in retirement.
Full Text Available Nigel SB Rawson,1–3 John Adams4 1Eastlake Research Group, Oakville, ON, 2Canadian Health Policy Institute, Toronto, ON, 3Fraser Institute, Vancouver, BC, 4Canadian PKU and Allied Disorders Inc., Toronto, ON, Canada Abstract: In democratic societies, good governance is the key to assuring the confidence of stakeholders and other citizens in how governments and organizations interact with and relate to them and how decisions are taken. Although defining good governance can be debatable, the United Nations Development Program (UNDP set of principles is commonly used. The reimbursement recommendation processes of the Canadian Agency for Drugs and Technologies in Health (CADTH, which carries out assessments for all public drug plans outside Quebec, are examined in the light of the UNDP governance principles and compared with the National Institute for Health and Care Excellence system in England. The adherence of CADTH's processes to the principles of accountability, transparency, participatory, equity, responsiveness and consensus is poor, especially when compared with the English system, due in part to CADTH's lack of genuine independence. CADTH's overriding responsibility is toward the governments that "own," fund and manage it, while the agency’s status as a not-for-profit corporation under federal law protects it from standard government forms of accountability. The recent integration of CADTH’s reimbursement recommendation processes with the provincial public drug plans’ collective system for price negotiation with pharmaceutical companies reinforces CADTH's role as a nonindependent partner in the pursuit of governments’ cost-containment objectives, which should not be part of its function. Canadians need a national organization for evaluating drugs for reimbursement in the public interest that fully embraces the principles of good governance – one that is publicly accountable, transparent and fair and includes all stakeholders
Staubli, Stefan; Zweimüller, Josef
Two pension reforms in Austria increased the early retirement age (ERA) from 60 to 62 for men and from 55 to 58.25 for women. We find that raising the ERA increased employment by 9.75 percentage points among affected men and by 11 percentage points among affected women. The reforms had large spillover effects on the unemployment insurance program but negligible effects on disability insurance claims. Specifically, unemployment increased by 12.5 percentage points among men and by 11.8 percentage points among women. The employment response was largest among high-wage and healthy workers, while low-wage and less healthy workers either continued to retire early via disability benefits or bridged the gap to the ERA via unemployment benefits. Taking spillover effects and additional tax revenues into account, we find that for a typical birth-year cohort a one year increase in the ERA resulted in a reduction of net government expenditures of 107 million euros for men and of 122 million euros for women.
Human Resources Department
We would like to take the opportunity to inform you about a new programme related to retirement, organised by the Human Resources Department. Retirement marks the end of a career and the start of a new chapter in life. In all cases, being well-informed and prepared is necessary to cope successfully with this transition. The programme has been developed for staff members and consists of two seminars: Leaving CERN (half day seminar): short presentations by internal speakers, focusing on what options CERN offers at the end of your career: organised once per year, next session scheduled on 24 November 2015, in the afternoon, enrolment and more information on Indico. Preparation for retirement (2-day seminar): interactive workshop (in small groups) delivered by external experts, focusing on how to prepare psychologically as well as practically to cope with all the changes retirement brings: organised regularly in 2016, in English or ...
Cocca-Bates, Katherine C; Neal-Boylan, Leslie
A qualitative study was done to explore the perceptions of volunteering among retired registered nurses (RNs) in Kansas. Participants were volunteers in formal nursing roles or were using their nursing knowledge and experience in non-nursing roles, such as church work. Regardless of the type of volunteer position, retired RNs reported that they use what they have learned as nurses when they volunteer. Volunteering benefits include enhanced self-worth, intellectual stimulation, reduced social isolation, and opportunities to help others. Increased paperwork, new technology, difficulty finding nursing-specific volunteer opportunities, resistance from health care organizations, and a lack of respect for what these nurses know are challenges and barriers to volunteering. Retired RNs have accumulated years of clinical nursing experience and can be helpful to employed nurses. Health care organizations should launch targeted efforts to recruit and utilize retired RN volunteers. Health care professionals who care for older adults should recommend volunteering as a healthful endeavor. Copyright © 2011 Mosby, Inc. All rights reserved.
Full Text Available , to keep up with economic growth and remain regionally competitive. To this end the government and state-owned enterprises have made significant investment commitments and encouraging development plans are being drafted. But infrastructure development...
Fasang, Anette Eva
How do social policies shape life courses, and which consequences do different life course patterns hold for individuals? This article engages the example of retirement in Germany and Britain to analyze life course patterns and their consequences for income inequality. Sequence analysis is used to measure retirement trajectories. The liberal…
Bodily, Gerald P.
Studies on retirement reporting that, compared to people not retired, recent retirees exhibited less income, more physical and mental illness, lower self-esteem, and less life satisfaction have been challenged and new findings have been revealed by longitudinal studies using data from large samples. It appears that perhaps the way individuals…
This paper discusses retirement as a learning process, where learning, be it formal or informal, enables retirees to adjust to the transition from work to retirement. Such discussion is important given the fact that the world population is aging and that more people are retiring in the next few decades. Moreover, people are experiencing an…
Staats, Sara; Pierfelice, Loretta
The authors surveyed retired persons (predominately women) with regard to their immediate, intermediate, and long-range activities following retirement. As predicted, leisure travel emerged as a frequent long-range goal for persons retired more than 5 years. The travel activity preferences of long-retired older women present challenges and opportunities to both researchers and marketers. Length of trips and frequency of trips have been predicted from regression models, with trip length in particular being well predicted by the problem of daily life hassles. A theoretical model of continued post-retirement travel is presented as a variant of Solomon's opponent process theory of affect (R. L. Solomon, 1980). The authors suggest that to the degree that places traveled to are varied and different, older people may remain stimulated and continue to enjoy retirement.
Bertoni, Marco; Brunello, Giorgio; Mazzarella, Gianluca
By increasing the residual working horizon of employed individuals, pension reforms that raise minimum retirement age are likely to affect the returns to investments in healthpromoting behaviours before retirement, with consequences for individual health. Using the exogenous variation in minimum
Bertoni, Marco; Brunello, Giorgio; Mazzarella, Gianluca
By increasing the residual working horizon of employed individuals, pension reforms that raise minimum retirement age are likely to affect the returns to investments in health-promoting behaviours before retirement, with consequences for individual health. Using the exogenous variation in minimum
... type. (d) OPM also considers a disability retirement application to be withdrawn when the agency... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Withdrawal of disability retirement...) CIVIL SERVICE REGULATIONS (CONTINUED) RETIREMENT Disability Retirement § 831.1207 Withdrawal of...
Price, William F.
With the trend toward early retirement and the fact that people are living to an older average age, more years of an individual's life will be spent in retirement. To examine personal values as psychological determinants of the retirement preparation process, 206 classified university employees, between the ages of 50 and 65 years of age,…
The Survivor Benefit Plan (SBP) was created to enable a surviving beneficiary of a retired military service member to continue to receive a portion of the retiree's retirement benefits upon the death of the retiree...
Butrica, Barbara A; Smith, Karen E
For decades, policymakers have discussed how to remedy the high poverty rates of older widows. Yet older divorced women are more likely to be poor than older widows, and historical divorce and remarriage trends suggest that in the future a larger share of retired women will be divorced. This article uses the Social Security Administration's Modeling Income in the Near Term (version 6) to project the retirement resources and wellbeing of divorced women. We find that Social Security benefits and retirement incomes are projected to increase for divorced women and that their poverty rates are projected to decline, due in large part to women's increasing lifetime earnings. However, not all divorced women will be equally well off economic well-being in retirement varies by Social Security benefit type.
Olafsson, Anton Stahl; Skov-Petersen, Hans
In the last decade, multiple GIS-based planning support systems have been developed in order to improve the basis for spatial planning. Recent research has focused on problems regarding a lack of utilisation or barriers to the use of advanced GIS and GIS-based planning support systems in planning...... applications. This paper discusses these research findings in the context of outdoor recreational planning by local governments in Denmark. According to a national survey of municipal planners, GIS-based planning support is widely used in Denmark, but more GIS is needed and is being requested for local outdoor...... recreation planning. However, considerable differences exist between the ways municipalities assess their need for and use of GIS planning support. These differences are explored in more detail using a factor analysis of planning variables and uses of GIS. Three situations are described: 1) extensive network...
Cremer, Helmuth; Lozachmeur, Jean-Marie; Pestieau, Pierre
This Paper studies the design of retirement and disability policies. It illustrates the often observed exit from the labour force of healthy workers through disability insurance schemes. Two types of individuals, disabled and leisure-prone ones, have the same disutility for labour and cannot be distinguished. They are not, however, counted in the same way in social welfare. Benefits depend on retirement age and on the (reported) health status. We determine first- and second-best optimal benef...
Newig, Jens; Kochskämper, Elisa; Challies, Edward; Jager, Nicolas W
The importance of designing suitable participatory governance processes is generally acknowledged. However, less emphasis has been put on how decision-makers design such processes, and how they learn about doing so. While the policy learning literature has tended to focus on the substance of policy, little research is available on learning about the design of governance. Here, we explore different approaches to learning among German policymakers engaged in implementing the European Floods Directive. We draw on official planning documents and expert interviews with state-level policymakers to focus on learning about the procedural aspects of designing and conducting participatory flood risk management planning. Drawing on the policy learning and evidence-based governance literatures, we conceptualise six types of instrumental 'governance learning' according to sources of learning (endogenous and exogenous) and modes of learning (serial and parallel). We empirically apply this typology in the context of diverse participatory flood risk management planning processes currently unfolding across the German federal states. We find that during the first Floods Directive planning cycle, policymakers have tended to rely on prior experience in their own federal states with planning under the Water Framework Directive to inform the design and carrying out of participatory processes. In contrast, policymakers only sporadically look to experiences from other jurisdictions as a deliberate learning strategy. We argue that there is scope for more coordinated and systematic learning on designing effective governance, and that the latter might benefit from more openness to experimentation and learning on the part of policymakers.
Madland, David; Rowell, Alex
Policymakers need to act to protect Americans' retirement security. A significant portion of Americans are at risk of not being able to maintain their standard of living in retirement and research suggests that this percentage is likely to grow. This commentary provides background on the current state of American retirement, highlights recent efforts to reform retirement policy, and predicts what to expect under President Donald Trump. Retirement has not been a major focus of national policymakers in recent years. Early actions during the Trump administration to undo Obama administration policies may make it more difficult for individuals to save for retirement. While it is impossible to predict the future with any certainty, long standing trends and recent political developments suggest that major action will not be taken during the Trump presidency to boost retirement security.
Delfien Van Dyck
Full Text Available Abstract Background The start of retirement is an important stage in an (older adult’s life and can affect physical activity (PA and/or sedentary behaviors, making it an ideal period to implement health interventions. To identify the most optimal timing of such interventions it is important to determine how PA and sedentary behaviors change not only when making the transition to retirement, but also during the first years of retirement. The main study aim was to examine whether PA and sedentary behaviors change differently in retiring adults compared with recently retired adults. A second aim was to examine potential moderating effects of gender and educational level. Methods A longitudinal study was conducted in Ghent, Belgium. Baseline measurements took place in 2012–2013 and follow-up data were collected 2 years later. In total, 446 adults provided complete data at both time points. Of the participants 105 adults were not retired at baseline but retired between baseline and follow-up (i.e. retiring and 341 were already retired at baseline (i.e. recently retired. All participants completed a questionnaire on PA, sedentary behaviors, socio-demographic factors and physical functioning. Repeated measures MANOVAs were conducted in SPSS 22.0. to analyze the data. Results Leisure-time cycling increased over time in retiring adults, but decreased in recently retired adults (p < 0.01. (Voluntary work-related walking and moderate-to-vigorous PA decreased strongly in retiring adults, while slight increases were found in recently retired adults (p < 0.001 and p < 0.01. Passive transport decreased more strongly in recently retired than in retiring adults (p < 0.05, and computer use increased more in retiring adults than in the recently retired group (p < 0.001. Low-educated recently retired adults had the strongest decrease in walking for transport (p < 0.05 and strongest increase in TV viewing time (p < 0.01 and computer
... Parts Planning to Acquire Government Aircraft § 102-33.75 What other guidance is available to us in... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false What other guidance is available to us in planning to acquire Government aircraft? 102-33.75 Section 102-33.75 Public Contracts and...
Jones, Dee; Horner, Beth
The North Carolina State Health Plan provides health care coverage to more than 700,000 members, including teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents. The State Health Plan is a division of the North Carolina Department of State Treasurer, self-insured, and exempt from the Employee Retirement Income Security Act as a government-sponsored plan. With health care costs rising at rates greater than funding, the Plan must take measures to stem cost growth while ensuring access to quality health care. The Plan anticipates focusing on strategic initiatives that drive results and cost savings while improving member health to protect the Plan's financial future. ©2018 by the North Carolina Institute of Medicine and The Duke Endowment. All rights reserved.
Van Dyck, Delfien; Cardon, Greet; De Bourdeaudhuij, Ilse
The start of retirement is an important stage in an (older) adult's life and can affect physical activity (PA) and/or sedentary behaviors, making it an ideal period to implement health interventions. To identify the most optimal timing of such interventions it is important to determine how PA and sedentary behaviors change not only when making the transition to retirement, but also during the first years of retirement. The main study aim was to examine whether PA and sedentary behaviors change differently in retiring adults compared with recently retired adults. A second aim was to examine potential moderating effects of gender and educational level. A longitudinal study was conducted in Ghent, Belgium. Baseline measurements took place in 2012-2013 and follow-up data were collected 2 years later. In total, 446 adults provided complete data at both time points. Of the participants 105 adults were not retired at baseline but retired between baseline and follow-up (i.e. retiring) and 341 were already retired at baseline (i.e. recently retired). All participants completed a questionnaire on PA, sedentary behaviors, socio-demographic factors and physical functioning. Repeated measures MANOVAs were conducted in SPSS 22.0. to analyze the data. Leisure-time cycling increased over time in retiring adults, but decreased in recently retired adults (p moderate-to-vigorous PA decreased strongly in retiring adults, while slight increases were found in recently retired adults (p moderating effects were found. Future interventions should focus on PA and/or specific sedentary behaviors in retiring adults, but should definitely include long-term follow-up, as recently retired adults seem to be prone to lapse into an unhealthy lifestyle. Specific attention should be paid to low-educated adults as they are particularly susceptible to a decrease in PA and increased TV viewing time and computer use.
Full Text Available Since the 1990s, local governments all over Europe have launched reforms to improve local democracy, public management and efficiency in the provision of local services. Some of these reforms are inspired by what previously has worked in private management and some of them have also a macro-level approach, whose main aim is to introduce institutional reforms and reorganizations to ensure contextual problem solving by strengthening governance within the local public sector. In this context, Strategic Planning in public organizations has attracted interest among academic researchers and practitioners as an instrument for dealing with a complex environment and for the achievement of higher performance and the attainment of greater democracy. But the decision on how to introduce Strategic Planning might follow a different rationale. The hypothesis maintained in this paper is that those that are based in an endogenous rationale are more likely to succeed. To test our hypothesis this paper draws on a comparative empirical analysis concerning the design and implementation of a Strategic Planning process within two Spanish city governments: one considered to have been a failure and the other a success. Focusing on the way in which the use of Strategic Planning has to face the trade-offs between urban and economic development and democracy, the paper explores how this formal mechanism of citizen´s and business’ participation serves to establish relational processes to reinvigorate local economic development, democracy and administrative modernization only when a strong political and administrative leadership is put into motion. Overall, the study yields evidence consistent with the notion that a successful Strategic Planning at the local level has to take into account not only institutional issues, but also the communal, social and political resources that frame the deliberations propelled by the Strategic Planning process.
The Department of Human Resources is organising a preparation for retirement seminar which will take place on the four successive afternoons of 2 to 5 October 2007. Similar seminars in the past have always proved highly successful. Retirement marks the end of one’s working life and the start of a new period of life. This period of transition and change is experienced differently from one individual to another. In any case, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above as well as those who have retired during the year have been sent a personal invitation to attend. Spouses are welcome. Staff members below 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to availability of places. Registration: In view of the number of people concerned and the limited capacity of th...
His astute counsel, knowing smile and distinguished eloquence will be missed by many. With a pang of regret, the man himself admits that 'CERN was like a drug for me'. Last week, Jean-Daniel Mandica retired, after 40 years of loyal service. He was the trusted counsellor of every Director of the Administration and Director-General for eighteen years, from 1986 to 2003. Head of the planning unit for the Directorate and the Administration from 1986 to 1996, he was then named Head of the Directorate Services Unit in 1996, a position he held until the end of 2003. Throughout that time, he conducted key tasks for the Organization, such as restructuring the Administration and carrying out audits. His role in the creation of Microcosm and his commitment to CERN's participation in the Universal Exposition at Seville in 1992 contributed in no small part to the spread of the Laboratory's fame. Jean-Daniel Mandica's incomparable knowledge of the Administration, sense of diplomacy and great ability to listen made him a v...
Good, Elizabeth; Hammond, Melinda; Martin, Caroline; Burns, Catherine; Groos, Anita
This project aimed to identify how local government planning tools could be used to influence physical and policy environments to support healthy eating behaviours in communities. An audit of Queensland's legislative and non-legislative local government planning tools was conducted by a public health nutritionist to assess their potential use in addressing strategies to achieve positive nutrition outcomes. Ten strategies were identified and covered the following themes: improving access to healthy foods and drinks; increasing access to breastfeeding facilities; decreasing fast food outlet density; and unhealthy food advertising. The audit found that all of the 10 strategies to achieve positive nutrition outcomes could be considered through three or more of the planning tools. Based on the findings of this audit, local government planning tools provide opportunities to address food and nutrition issues and contribute toward creating physical and policy environments that support healthy eating behaviours.
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Retirement benefits. 633.306 Section 633.306 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR MIGRANT AND SEASONAL FARMWORKER PROGRAMS Program Design and Administrative Procedures § 633.306 Retirement benefits. No funds...
... that gender does not constitute a barrier in the adult lives in retirement. The study concluded that retirement education is a panacea for positive crisis-free retirement life. It was recommended that counselors should emphasize the need for retirees to understand the factors capable of causing stress and broken homes.
(Health insurance and wealth and succession planning) During the preparation for retirement seminar in November 2009, the sessions on health insurance in Switzerland and in France unfortunately had to be postponed. Participants in the seminar also expressed interest in an information session on “How to manage your wealth and organize your succession”. The sessions on health insurance will be held on 16 March 2010 and those on managing wealth and succession on 18 March 2010. Programme for Tuesday 16 March 2010 (TH Theory Conference Room, Building 4/3-006): 09:00 Health insurance in Switzerland by Mr. Sandro Breitenstein, Service de l'Assurance Maladie du Canton de Genève 10:00 Coffee break 10:20 Health insurance in France by Mr. Dominique Curtiaud, Caisse Primaire d'Assurance Maladie de l'Ain Programme for Thursday 18 March 2010 (TH Theory Conference Room, Building 4/3-006): 09:00 How to manage your wealth and organize your succession in Switzerland by Mr. Jean-Marc W...
Full Text Available Abstract Background The Australian dental workforce is ageing and current shortages have been predicted to worsen with the retirement of the growing contingent of older dentists. However, these predictions have been based on retirement trends of previous generations and little is known about the retirement intentions of today's older dentists. Methods The Dentist Retirement Intentions Survey was mailed to 768 NSW Australian Dental Association members aged over 50 and achieved a response rate of 20%. T-tests, ANOVAs and multivariate regression were used to analyse the data. Results On average, participants intend to retire at the age of 66, although they would prefer to do so earlier (p Conclusions The current generation of older dentists intends to retire later than their predecessors. Most wish to remain involved in dentistry in some capacity following retirement, and may assist in overcoming workforce shortages, either by practising part time or training dental students.
Eklund, Johanna; Cabeza, Mar
Protected areas (PAs) are a key tool for biodiversity conservation and play a central role in the Convention on Biological Diversity. Recently, the effectiveness of PAs has been questioned, and assessing how effective they are in enabling the future persistence of biodiversity is not trivial. Here, we focus on terrestrial PAs and clarify the terminology related to PA effectiveness, distinguishing between management and ecological aspects. We suggest that the quality of governance affects both aspects of effectiveness but recognize a lack of synthetic understanding of the topic. We present a conceptual framework linking the underlying mechanisms by which the quality of governance affects conservation outcomes in PAs and how this relates to conservation planning. We show that it is crucial to separate pressure and response and how these together will lead to the observed conservation outcomes. We urge for more focused attention on governance factors and in particular more empirical research on how to address causality and how to account for the quality of governance when prioritizing actions. Our framework is linked to the classic concepts of systematic conservation planning and clarifies the strategies available to achieve a comprehensive and effective network of PAs. © 2016 The Authors. Annals of the New York Academy of Sciences published by Wiley Periodicals, Inc. on behalf of New York Academy of Sciences.
Olesen, Kasper; Rugulies, Reiner; Rod, Naja Hulvej
BACKGROUND: Recent studies have suggested that retirement may have beneficial effects on health outcomes. In this study we examined whether the risk of myocardial infarction (MI) was reduced following retirement in a Danish population sample. METHODS: Participants were 617 511 Danish workers, born...... of 1.11 (95% confidence interval: 1.06, 1.16) when comparing retirees with active workers of the same age. CONCLUSIONS: This study does not support the hypothesis that retirement reduces risk of MI. On the contrary, we find that retirement is associated with a modestly increased risk of MI....
Oude Mulders, J.
Population aging and the resulting retirement-related policy reforms are leading to higher rates of labor market participation among older workers and later retirement ages. In addition, working beyond traditional retirement ages, thereby combining employment with retirement, is also increasingly
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Marriage after retirement. 19.10-3 Section 19... PARTICIPANTS IN THE FOREIGN SERVICE RETIREMENT AND DISABILITY SYSTEM § 19.10-3 Marriage after retirement. If an... marriage irrevocably elect to receive a reduced annuity and to provide, subject to any obligation to...
Giannone, Zarina A; Haney, Colleen J; Kealy, David; Ogrodniczuk, John S
Despite evidence identifying adjustment difficulties among retiring athletes, research investigating factors that contribute to post-retirement complications is limited. Athletic identity may be an important determinant of adverse adaptation to sport retirement. The purpose of this study was to address the influence of athletic identity on post-retirement depression and anxiety symptoms among varsity athletes. An anonymous, online survey regarding athletic identity and psychiatric symptoms was completed by 72 self-identified varsity athletes during their final season of competition and 3 months after retiring from sport. After controlling for the effects of pre-retirement anxiety symptoms, endorsement of an athletic identity significantly predicted anxiety symptoms in the post-retirement period. A similar, but non-significant, pattern was observed for depressive symptoms. The findings of this study suggest that athletes' degree of athletic identity may be a risk factor for the emergence of psychiatric distress in the months following their retirement from sport. Identity-focused screening or intervention during athletes' sport careers could potentially mitigate some of the psychological difficulties associated with sport retirement.
Mihai Robert PAŞNICU
Full Text Available The paper aims to shed light on the policies and consequences of the current retirement age in Romania. The retirement age has been repeatedly incremented in Romania in the last couple of years in order to try to compensate for the fact that the country has a low general employment rate, only 30% of the population, while having 20% of the total population aged 65+. By using an econometric model we will first prove the existence of an optimal retirement age that might vary for each and every one of us, after which we will explore different possibilities of exploiting this information in order to improve the current retirement programs. Mainly, we will look at the possible solution of eliminating the mandatory retirement age in certain work sectors through a comparison analysis.
Rappaport, Anna M
Retirement wellness is the result of retiring at an appropriate age, saving enough and managing risks appropriately. One of the major risks that often is not addressed effectively is the long-term care (LTC) risk, i.e., the risk of needing help due to physical or cognitive limitations. In 2014, the Society of Actuaries issued a call for papers on the link between LTC and retirement security. This article will discuss the topic of LTC and retirement security broadly, drawing from several of the papers. Some of the topics include the impact of LTC on the individual, family members and caregivers; modeling results showing the impact of LTC on assets needed for a secure retirement; alternative methods of financing LTC; the link between housing decisions and LTC; and some ideas for the future.
Full Text Available Employers are the key actors in defining conditions for retirement, as well as the conditions for retaining employees; their role, however, is still not well recognised and expressed in theoretical frameworks. In order to better understand individual retirement and to design successful ageing policies we should consider the behaviour and attitudes of employers.The article presents the organisational perspective on retirement and contributes to a theoretical consideration of the role of employers and work environments in the retirement process. It discusses the classic economic approaches, including the deferred payment model, and in referring to sociology of economy and management sciences it presents the employer’s perspective in relations with older workers. The main goal of the article is to consider the retirement process as an effect of employer-employee relations.
Davies, E.M.M.; Heijden, B.I.J.M. van der; Flynn, M.
In the contemporary workplace, insight into retirement behaviors is of crucial importance. Previous empirical evidence has found mixed results regarding the relationship between work attitudes, such as job satisfaction, and retirement behaviors, suggesting that further scholarly examination
... from employer contributions, merely because the present value of the accrued benefit (or any portion... amendments, solely because the present value of the accrued benefit (or any portion thereof) of any... sections 411(a)(11), 411(c), or 417(e), merely because the plan provides that the present value of benefits...
Dorn, David; Sousa-Poza, Alfonso
In the past decade, Switzerland has experienced a large increase in the number of individuals going into early retirement. This paper examines the determinants of such early retirement using data from the newly implemented social-security module of the 2002 Swiss Labor Force Survey. In the sixteen-month period from January 2001 to April 2002, more than 36,000 older individuals, representing 8% of all workers within nine years of legal retirement age, became early retirees. One of the most imp...
von Bonsdorff, Monika E; Vanhala, Sinikka; Seitsamo, Jorma; Janhonen, Minna; Husman, Päivi
To explore the relationship between employee well-being and early-retirement intentions, and the extent to which early-retirement intentions are associated with company performance. This study is based on cross-sectional survey data on the ageing employees of the Finnish metal industry and retail trade, collected in 2007 (company-level n = 129, employee-level n = 1281). It was analyzed using multinomial logistic and multiple regression analysis. Poor work ability, frequent emotional exhaustion, low organizational commitment, and job control were associated with the prevalence of early-retirement intentions among aging employees in both industries. Metal industry employees' early-retirement intentions were associated with weaker company performance measured by the perceptions of the manager. By enhancing well-being, employees may stay at work for longer rather than retiring early. Early-retirement intentions can be counterproductive for companies.
Pozzoli, Dario; Ranzani, Marco
is married, and amongst these 24 percent has a working wife. This results from dramatic changes in the labor force behaviour of both older men and older women after World War II. These trends signal a need of investigating retirement choices at a household level. Using an absolutely new international micro...... data (SHARE, Survey of Health, Ageing and Retirement in Europe - Release 2), we adopt a duration analysis approach and estimate both single and competing risks models by allowing for a exible speci cation with and without unobserved heterogeneity. Our findings show that joint retirement is signi cantly...... correlated with education, age, and health status, together with partner's employment status, partner's education and partner's health status. We also perform a sensitivity analysis in order to check whether the results on the correlation of health status are robust to two alternative measures of health...
Full Text Available The main objective of this paper was to determine whether there is a Procurement Plan for 2016, on the website of local and regional selfgovernment units in the Republic of Croatia. After having applied the method of analysis, the hypothesis that local and regional self-governments in the Republic of Croatia fulfilled their legal obligation to publish the procurement plan to websites, was not confirmed. The research results show that all counties except for Međimurje County have a Procurement Plan for 2016 available on their respective websites. Out of the total of 127 cities in the Republic of Croatia, ten cities (Belišće, Čabar, Donji Miholjac, Drniš, Ilok, Imotski, Nova Gradiška, Pleternica, Popovača and Vrgorac did not publish their Procurement Plans for 2016. In addition, the survey results show that 61 municipalities do not have a published Procurement Plan for 2016 on their respective websites. This study may contribute to the knowledge of the local and regional self- government units’ websites contents in the Republic of Croatia, and encourage the employees to comply with the legal obligation to publish the procurement plan on their websites for the purpose of conducting transparent procurement.
Kanika Kapur; Jeannette Rogowski
This paper examines the role of employer provided health insurance in the retirement decisions of dual working couples. The near elderly have high-expected medical expenditures; therefore, availability of health insurance is an important factor in their retirement decisions. We determine if access to retiree health insurance for early retirement enables couples to time their retirement together %u2013 a behavior called %u201Cjoint retirement.%u201D We find that wives%u2019 retiree health insu...
ISO/IEC 31010:2009; COSO 2004; and OCEG “Red Book” 2.0: 2009. Institute of Risk Management , “ Risk Management Standards,” accessed June 26, 2015...Information Act (FOIA), protective security, risk management , Presidential Policy Directive 21 (PPD-21), National Security Presidential Directive 51 (NSPD...BLUEPRINTS FOR DISASTER: BALANCING SECRECY AND TRANSPARENCY OF GOVERNMENT CONTINUITY PLANS Stephen Scott Vollbrecht State Risk Manager for
Full Text Available The Health and Retirement Study (HRS is a nationally representative longitudinal survey of more than 37,000 individuals in 23,000 households over age 50 in the United States. Fielded biennially since 1992, it was established to provide a national resource for data on the changing health and economic circumstances associated with aging. HRS covers four broad topic areas—income and wealth; health, cognition, and use of health care services; work and retirement; and family connections. HRS data are also linked at the individual level to administrative records from Social Security and Medicare, Veteran’s Administration, the National Death Index, and employer-provided pension plan information. In 2006, data collection expanded to include biomarkers and genetics and greater depth in psychosocial well-being and social context. This blend of economic, health, and psychosocial information provides unprecedented potential to study increasingly complex questions about aging and retirement. HRS prioritizes rapid release of data while simultaneously protecting the confidentiality of respondents. Three categories of data—public, sensitive, and restricted—can be accessed through procedures described on the HRS website (hrsonline.isr.umich.edu.
This study addresses the question of how retired people's self-image differs from that of working people, and what factors predict people's self-definition as professionals or retirees. Seven hundred ninety-two Swiss persons aged 58-70 (386 men, 406 women; 349 not retired, 443 retired) were asked to rate the importance of different self-description domains (such as profession, family-roles, personal values, etc.). Results indicated that the profession domain remains important for self-description even after retirement, to the extent that retirement status does not predict the importance of the professional identity at all. Rather, consistent with social identity theory, the importance of the profession for self-description is best predicted by the status of the (former or current) job. The importance of the retirement status for self-definition is predicted best by a positive attitude toward aging. In general, retired respondents rated more domains of self-description as important than did not-yet-retired respondents, and no domain was less important after retirement. In other words, identity diversity was higher for the retired than for the not-yet-retired persons. In addition, high identity diversity correlated with a high satisfaction across different life domains.
Blackstone, Erwin A; Hakim, Simon; Meehan, Brian
This paper proposes a regional competitive governance and management of response and recovery from disasters. It presents problems experienced in major disasters, analyzes the failures, and suggests how a competitive system that relies on private and volunteer regional leaders, personnel, and capital can improve preparation, response and recovery efforts over the existing government system. A Public Choice approach is adopted to explain why government often fails, and how regional governance may be socially more efficient than the existing federal- state-local funded and managed disaster system. The paper suggests that the federal role might change from both funding and supplying aid in disasters to merely funding disaster recovery efforts. When a disaster occurs, available businesses and government resources in the region can be utilized under a competitive system. These resources could replace existing federal and state inventories and emergency personnel. An independent regionally controlled and managed council, which also develops its own financial resources, and local volunteer leaders are key for success. The paper suggests a new planning method that utilizes the statistical Factor Analysis methodology to derive an efficient organizational and functional model to confront disasters. Copyright © 2017 Elsevier Ltd. All rights reserved.
Shoven, John B; Slavov, Sita Nataraj
Most government employees have access to retiree health coverage, which provides them with group health coverage even if they retire before Medicare eligibility. We study the impact of retiree health coverage on the labor supply of public sector workers between the ages of 55 and 64. We find that retiree health coverage raises the probability of stopping full time work by 4.3 percentage points (around 38 percent) over two years among public sector workers aged 55-59, and by 6.7 percentage points (around 26 percent) over two years among public sector workers aged 60-64. In the younger age group, retiree health insurance mostly seems to facilitate transitions to part-time work rather than full retirement. However, in the older age group, it increases the probability of stopping work entirely by 4.3 percentage points (around 22 percent). Copyright © 2014 Elsevier B.V. All rights reserved.
Rolfe, Ben; Leshabari, Sebalda; Rutta, Fredrik; Murray, Susan F
The human resource crisis in health care is an important obstacle to attainment of the health-related targets for the Millennium Development Goals. One suggested strategy to alleviate the strain upon government services is to encourage new forms of non-government provision. Detail on implementation and consequences is often lacking, however. This article examines one new element of non-government provision in Tanzania: small-scale independent midwifery practices. A multiple case study analysis over nine districts explored their characteristics, and the drivers and inhibitors acting upon their development since permitted by legislative change. Private midwifery practices were found concentrated in a 'new' workforce of 'later life entrepreneurs': retired, or approaching retirement, government-employed nursing officers. Provision was entirely facility-based due to regulatory requirements, with approximately 60 'maternity homes' located mainly in rural or peri-urban areas. Motivational drivers included fear of poverty, desire to maintain professional status, and an ethos of community service. However, inhibitors to success were multiple. Start-up loans were scarce, business training lacking and registration processes bureaucratic. Cost of set-up and maintenance were prohibitively high, registration required levels of construction and equipping similar to government sector dispensaries. Communities were reluctant to pay for services that they expected from government. Thus, despite offering a quality of basic maternity care comparable to that in government facilities, often in poorly-served areas, most private maternity homes were under-utilized and struggling for sustainability. Because of their location and emphasis on personalized care, small-scale independent practices run by retired midwives could potentially increase rates of skilled attendance at delivery at peripheral level. The model also extends the working life of members of a professional group at a time of
Malkiel, Burton G.
The basic provisions of the TIAA-CREF retirement plans are outlined and the impact of inflation and falling stock prices on annuities and bonds are investigated. Major factors that should be considered when allocating contributions to TIAA-CREF funds are discussed. (SF)
Monika Bütler; Olivia Huguenin; Federica Teppa
Early retirement is predominantly considered as the result of incentives set by social security and the tax system. But people seem to retire early even in the absence of such distortions as the Swiss example demonstrates. We look for determinants of early retirement, in particular the role of lifetime income and family status, using individual data from a selection of Swiss pension funds. Our findings suggest that affordability is a key determinant in retirement decisions: More affluent men,...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Retirement benefits. 20.4 Section 20.4 Foreign Relations DEPARTMENT OF STATE PERSONNEL BENEFITS FOR CERTAIN FORMER SPOUSES § 20.4 Retirement benefits. (a) Type of benefits. (1) A former spouse who meets the qualification requirements of § 20.3 is entitled to...
Sobel, Karen; Drewry, Josiah
Detailed succession planning helps libraries pass information from one employee to the next. This is crucial in preparing for hiring, turnover, retirements, training of graduate teaching assistants in academic libraries, and other common situations. The authors of this article discuss succession planning for instruction programs in academic…
... mandatory retirement age); (2) early optional retirement eligibility; (3) enhanced annuity provisions (to... barred from reemployment in any position except a primary position after age 60. Service by a reemployed... Act provides early retirement and enhanced annuity benefits for customs and border protection officers...
the child-to-teacher ratio or the size of the institution and early retirement (ERP). However, working conditions measured by the social background of the children and the share of trained day-care teachers have a significant effect on the probability of early retirement. Finally, a poor health condition......This paper studies the role of working conditions and health for elderly female day-care teachers’ decision to enter early retirement. Entry into retirement is analysed in a duration framework that allows for unobserved heterogeneity in the baseline hazard. Data are from a Danish longitudinal data...... set based on administrative register records for 1997-2006. Working conditions is measured by four indicators. First, work pressure is measured by the child-to-teacher ratio, which varies across municipalities and over time. Second, working conditions is measured by the proportion of children...
Morrill, Melinda Sandler
Employer-provided health insurance for public sector workers is a significant public policy issue. Underfunding and the growing costs of benefits may hinder the fiscal solvency of state and local governments. Findings from the private sector may not be applicable because many public sector workers are covered by union contracts or salary schedules and often benefit modifications require changes in legislation. Research has been limited by the difficulty in obtaining sufficiently large and representative data on public sector employees. This article highlights data sources researchers might utilize to investigate topics concerning health insurance for active and retired public sector employees. Copyright © 2014 Elsevier B.V. All rights reserved.
Kähkönen, Tommi; Smolander, Kari; Maglyas, Andrey
The development of an enterprise resource planning (ERP) system starts actually after it has been implemented and taken into use. It is necessary to integrate ERP with other business information systems inside and outside the company. With the grounded theory, we aim to understand how integration challenges emerged in a large manufacturing enterprise when the long-term ERP system reached the beginning of its retirement. Structural changes, an information technology governance model, lack of organisational vision, having no architectural descriptions, lack of collaboration, cost cutting, and organisational culture made integration governance troublesome. As a consequence, the enterprise suffered from several undesired effects, such as complex integration scenarios between internal systems, and failing to provide its customers the needed information. The reduction of costs strengthened the organisational silos further and led to unrealised business process improvements. We provide practitioners with four recommendations. First, the organisational goals for integration should be exposed. Second, when evaluating the needs and impacts of integration, a documented architectural description about the system landscape needs to be utilised. Third, the role of IT should be emphasised in development decision-making, and fourth, collaboration is the core ingredient for successful integration governance.
Pit, S W; Hansen, V
The Australian general practice workforce is ageing. This and a trend towards higher exit intentions and earlier retirement make it increasingly important to identify those work and personal factors affecting intention to leave, which are amenable to change. To assess the various work, occupational and individual health factors associated with early retirement intentions among Australian rural general practitioners (GPs) that may be amenable to intervention. A cross-sectional study of GPs practising in rural Australia. Odds ratios of early retirement intentions across work, occupational and individual health factors were calculated. There were 92 participants (response rate 56%), and 47% of responders intended to retire before 65. GPs with medium to high burnout levels had higher odds of intending to retire. Increased job satisfaction and work ability scores were associated with decreased retirement intentions, whereas increased physical and mental work ability demands were associated with an increase in retirement intentions. Absenteeism was not related to retirement intentions but presenteeism was. GPs reporting any work-related sleep problems were found to have a 3-fold increase in the odds of early retirement intentions. The odds of early retirement intentions also increased with higher psychological distress, worsening general health and longer working hours. From a health policy reform perspective, the greatest impact on reducing early retirement intentions among ageing GPs could potentially be made by intervening in areas of working hours, burnout and work-related sleep issues, followed by job satisfaction, psychological distress, health, general workability and mental and physical work ability. © The Author 2014. Published by Oxford University Press on behalf of the Society of Occupational Medicine. All rights reserved. For Permissions, please email: email@example.com.
..., Beneﬁts, and Retirement They Want the Job Security Offered by Government The Government Can Offer the Right Job and Training The Government Offers Many Opportunities to Advance Why Do Government Personnel Systems Make Things So Difﬁcult? 1 1 2 3 4 4 5 7 8 9 10 11 11 12 12 12 13 vii ... 16220$ CNTS 11-14-06 08:22:32 PS PAGE viiviii Contents History of t...
Onyura, Betty; Bohnen, John; Wasylenki, Don; Jarvis, Anna; Giblon, Barney; Hyland, Robert; Silver, Ivan; Leslie, Karen
There is scant empirical work exploring academic physicians' psychosocial adjustment during late-career transitions or on the factors that influence their retirement decisions. The authors examine these issues through the lens of sociopsychological identity theory, specifically examining how identity threat influences academic physicians' decisions about retirement. Participants were academic physicians at a Canadian medical school and were recruited via e-mail requests for clinical faculty interested in discussing late-career and retirement planning issues. Participants included 15 males and 6 females (N = 21; mean age = 63, standard deviation = 7.54), representing eight specialties (clinical and surgical). Data were collected in October and November 2012 via facilitated focus groups, which were digitally recorded, transcribed verbatim, and anonymized, then analyzed using thematic analysis. Four primary themes were identified: centrality of occupational identity, experiences of identity threat, experiences of aging in an indifferent system, and coping with late-career transitions. Identity threats were manifested in apprehensions about self-esteem after retirement, practice continuity, and clinical competence, as well as in a loss of meaning and belonging. These identity challenges influenced decisions on whether to retire. Organizational and system support was perceived as wanting. Coping strategies included reimagining and revaluing various aspects of the self through assimilating new activities and reprioritizing others. Identity-related struggles are a significant feature of academic physicians' considerations about late-career transitions. Understanding these challenges, their antecedents, and their consequences can prepare faculty, and their institutions, to better manage late-career transitions. Individual- and institution-level implications are discussed.
Farquhar, Jamie C; Wrosch, Carsten; Pushkar, Dolores; Li, Karen Z H
This 3-year longitudinal study examined the associations between regret management, everyday activities, and retirement satisfaction among recent retirees. We hypothesized that the regulation of a severe life regret can facilitate activity engagement and retirement satisfaction, but only if retirees manage their regrets adaptively by either increasing effort and commitment when possessing favorable opportunities or disengaging when opportunity is unfavorable. Cross-sectional analyses demonstrated that the highest baseline levels of activity (e.g., volunteering, traveling) and retirement satisfaction were observed among participants who perceived favorable opportunities for addressing their life regrets and had high levels of engagement. Longitudinal analyses showed that this pattern was also associated with increases in activity engagement. In contrast, disengagement protected individuals with unfavorable opportunity from 3-year declines in retirement satisfaction. These findings indicate that adaptive regulation of regrets can both contribute to gains and prevent losses in the early stages of retirement, which may have lasting consequences on retirees' quality of life.
Greuningen, M. van; Heiligers, P.J.M.; Velden, L.F.J. van der
Background: Workforce planning for general practitioners needs to be informed by data on retirement intentions of GPs and factors that influence them. Several studies have investigated the association of explanatory factors with intentions to leave practice and actual leaving (e.g. in the UK, USA,
The classical economics perspective is that public policy should be used to allow, not hinder, economic freedom. In some cases it may be possible for government to gently nudge individuals to change their behavior without hindering freedom. One example is a change from the default on pension program enrollment forms from "not contribute" to "contribute." This is generally viewed as a good nudge that gets people to do what the majority of people view as generally the correct behavior. However, a choice to contribute to a pension fund is not always in the individual's best interest - thus, it is a nudge, not a mandate. To maintain personal liberty, individuals should be fully informed about the consequences of their choice and the motives of the political authority. Saving for retirement is a complex issue, and pension contribution decisions are often made with little foresight or information. Pension contribution nudges may not always be freedom preserving because of complexity and unintended consequences. The benefits, risks, and limitations of default contribution pension nudges are discussed.
The general purpose of this study was to find out the factors that contributed to or accounted for post-retirement satisfaction among Ghanaian workers; and whether teacher retirees and non-teacher retirees differ in their post-retirement satisfaction with all those factors that account for post-retirement satisfaction.
O'Connor, Lisa G.
This exploratory study examines the information seeking and use behaviors of a group of US retired or near-retirement investors from everyday life information seeking and serious leisure perspectives. Although primarily qualitative, it also collects and analyzes quantitative data to describe retired investors' information preferences and use.…
Price, Christine A.; Balaswamy, Shantha
Despite empirical support for the positive effects of health and wealth on retirement satisfaction, alternative variables also play a key role in helping to shape women's assessment of retirement. In the present study, we explore personal and psychosocial predictors of women's retirement satisfaction while controlling for financial security and…
Smith, Justin L.; Conley, Sharon; You, Sukkyung
This study investigated a sample of California elementary, intermediate, and high school employed teachers (N = 247) to assess the effects of retirement perceptions on career commitment among teachers who are in different age groupings. Using path analysis, the influence of five retirement perceptions variables was examined: concerns about…
Full Text Available If regulators were to simply outright prohibit Canadians with low and middle incomes from seeking financial advice, it would obviously constitute a massive setback for individual wealth accumulation and, ultimately, for the economy. In Canada, after all, the well-being of a large proportion of retirees relies heavily on their voluntary personal and private wealth accumulation, in part due to the shrinking proportion of Canadian employees covered by a defined-benefit pension plan. As it is, between a quarter and a third of households of all income levels not covered by a defined-benefit plan are not set up to retire comfortably. And yet, currently, regulators are entertaining a change to the financial services industry that will almost certainly have the net effect of keeping the vast majority of Canadians from accessing financial advice. It is not quite a ban, but given the effect it will have, it almost could be. The role of financial advice is pivotal in helping people prepare for retirement. Evidence shows that the average individual’s knowledge of basic financial products and concepts is quite limited. Research indicates that Canadian households using a financial adviser to assist in saving and investment matters and plan their retirement accumulated 1.58 times as much wealth as did non-advised households after four to six years; after 15 years, that had increased to 2.73 times. That has an effect on the rest society, too, since wealthier retirees enjoy a better quality of life, are less burdensome on government income supplements and contribute more to the economy. One thing that could prove immensely counterproductive to helping Canadians access financial advice to better prepare for retirement is the proposal, being considered by regulators, to unbundle adviser fees from financial products. The rationale for the move is compelling: If advisers receive different commissions depending on the financial products they convince their clients
Cozijnsen, M.R.; Stevens, N.L.; van Tilburg, T.G.
This study examines the consequences of retirement for the continuation of work-related personal ties. The hypothesis is that their inclusion in personal networks after retirement has become more likely because these relationships have become less role based in today's social-cultural context. Data
Danø, Anne Møller; Ejrnæs, Mette; Husted, Leif
and health are important determinants of the retirement decision. Furthermore, we find substantial gender differences in the retirement pattern. Healthy single women value retirement more than healthy single men and are willing to reduce their disposable income to 74% of their previous income while men......The focus of this paper is to analyse why a large fraction of single elderly people choose to retire early. A structural model directly based on the individual decision of labour supply is estimated on a sample of singles, where singles are defined as those who are living alone. We find that income...... are willing to reduce the income to 81%. Men's retirement decision is mainly influenced by income and health, whereas women's retirement decision is also affected by education and unemployment experience...
Rijs, K.J.; Cozijnsen, R.; Deeg, D.J.H.
Health consequences of retirement have not been included in the current public debate about increasing the age at retirement, which might be due to the fact that studies aimed at health consequences of retirement show ambiguous results. The literature indicates that various contextual
Thorsen, Sannie Vester; Jensen, Per H.; Bjorner, Jakob Bue
Purpose Retention of senior employees is a challenge for most developed countries. We aimed to identify psychosocial work environment factors of importance for the retention of older employees by evaluating the association between the psychosocial work environment and voluntary early retirement i...... at the labor market. However, we found no evidence that low demands or good relations between colleagues could influence older employees’ decision on early retirement....
Bertocchi, Marida; Ziemba, William T.
A straightforward guide focused on life cycle investing-namely aging, retirement, and pensions Life cycle investing and the implications of aging, retirement, and pensions continues to grow in importance. With people living longer, the relative and absolute number of retirees is growing while the number of workers contributing to pension funds is declining. This reliable resource develops a detailed economic analysis-at the micro (individual) and macro (economy wide) levels-which addresses issues regarding the economics of an aging population. Topics touched upon include retirement and the associated health care funding of the aged as well as social security and the asset classes that are considered asset-liability choices over time. The probability of achieving adequate return patterns from various investment strategies and asset classes is reviewed Shares rich insights on the aging, retirement, and pensions dilemma An assessment of the resources the real economy will be able to commit to non-workers is prov...
Monahan, Amy B.
There is significant interest in reforming retirement plans for public school employees, particularly in light of current market conditions. This article presents an overview of the various types of state regulation of public pension plans that affect possibilities for reform. Nearly all of the various approaches to public pension plan protection…
Flynn, Matthew; Schröder, Heike; Higo, Masa; Yamada, Atsuhiro
Through the lens of Institutional Entrepreneurship, this paper discusses how governments use the levers of power afforded through business and welfare systems to affect change in the organisational management of older workers. It does so using national stakeholder interviews in two contrasting economies: the United Kingdom and Japan. Both governments have taken a 'light-touch' approach to work and retirement. However, the highly institutionalised Japanese system affords the government greater leverage than that of the liberal UK system in changing employer practices at the workplace level.
After discussion at TREF on 29 October 2003, the Management proposes in this document a modification affecting one of the general principles of the Progressive Retirement Programme (PRP), decided by the Council in December 1996 and introduced in April 1997. This modification would authorise the Director-General, in exceptional cases, as indicated in section 3 below, and, with the staff member's consent, to cancel his or her participation in the PRP and to reinstate the staff member in his or her original contractual situation. No modifications to the Staff Rules and Regulations are required. The proposal set out in section 3 of the present document is submitted by the Management, after consultation of the Governing Board of the Pension Fund, for recommendation by the Finance Committee to the Council and for approval by the Council, to enter into force as of 1 January 2004.
On 13 December 1990 Prof. Dr. Cornelis (Kees) Kalkman retired from the positions of Professor of Plant Systematics and Scientific Director of the Rijksherbarium/ Hortus Botanicus by presenting his valedictory lecture to the academic community of Leiden University and the assembled Dutch Botanical
served after December 31, 2014. 9 Department of Defense, Valuation of the Military Retirement System, September 30, 2006, DOD Office of the Actuary...provision twice; first in 2014 (P.L. 113-82 §10001; formerly known as South Utah Valley Electric Conveyance Act) to apply only to servicemembers...Actuary, Valuation of the Military Retirement System, September 30, 2014, rev. June 2016. DOD budget authority and outlays in each fiscal year that
reflect the opinions of its research clients and sponsors. Support RAND Make a tax -deductible charitable contribution at www.rand.org/giving...mandated accrual account - ing to fund the military retirement benefit liability and specified the use of the aggregate entry-age normal accounting ...tary retirees; military retirement was a pay-as-you-go (PAYGO) system. The shift to accrual accounting sought to meet the objective of recog- nizing
Brougham, Ruby R.; Walsh, David A.
The current study explored the contribution of personal goals to retirement decisions. A SMARTER methodology (to assess multiattribute utility) and taxonomy of human goals were used to investigate the relationship between older workers' personal goals and their retirement intentions. Two hundred and fifty-one employees of a large university,…
Dorfman, Lorraine; Kolarik, Douglas
Little attention has been given to the leisure activities of retired professors, whose activity patterns in retirement may be different from those of other occupational groups because of their lifetime commitment to work. This interview study uses both quantitative and qualitative data to investigate: (a) the leisure and professional activities of…
Describes career changes and retirement choices made by outgoing "career" superintendents. Choices ranged from teaching and consulting to administering philanthropic organizations and launching a charter-boat business. (MLH)
Mike, Anissa; Jackson, Joshua J.; Oltmanns, Thomas F.
The current study examined the relationship between conscientiousness, work status, and volunteering utilizing two large samples, the St. Louis Personality and Aging Network (SPAN) and the Health and Retirement Study (HRS). It was hypothesized that conscientious adults who were retired would be more likely to volunteer because, after retirement, they gain a substantial amount of free time, while losing an outlet for their industrious and achievement-striving tendencies. Cross-sectional and longitudinal analyses revealed that conscientious, retired individuals were more likely to volunteer than conscientious, working individuals. Further analyses revealed that facets of conscientiousness provide differential information from the general trait. These findings indicate that volunteering during retirement fills an important niche for high-striving, conscientious individuals. PMID:25843985
Mike, Anissa; Jackson, Joshua J; Oltmanns, Thomas F
The current study examined the relationship between conscientiousness, work status, and volunteering utilizing two large samples, the St. Louis Personality and Aging Network (SPAN) and the Health and Retirement Study (HRS). It was hypothesized that conscientious adults who were retired would be more likely to volunteer because, after retirement, they gain a substantial amount of free time, while losing an outlet for their industrious and achievement-striving tendencies. Cross-sectional and longitudinal analyses revealed that conscientious, retired individuals were more likely to volunteer than conscientious, working individuals. Further analyses revealed that facets of conscientiousness provide differential information from the general trait. These findings indicate that volunteering during retirement fills an important niche for high-striving, conscientious individuals.
Biggs, John H.
In the late 1990s, the Andrew W. Mellon Foundation made grants to study people's attitudes toward retirement and to determine what factors influenced their decisions to retire. Although faculty were not talking to college administrators or human-resources departments about health care, the researchers found to their surprise that when they…
... value or over the fair market value at the time of such retirement if greater, but only if— (i) The... such productive use without disposition as, for example, by being placed in a supplies or scrap account... timing of the retirement, the estimated useful life used in computing depreciation, and whether the asset...
Full Text Available Prolonging professional activity constitutes one of the possible solutions for alleviating negative consequences of demographic changes/population ageing. Devising effective tools motivating employees to remain professionally active must take into account preferences associated with retirement age. The following constitute the objectives of the present paper: 1 identification of preferences in the retirement age for various age groups; 2 indication of potential consequences behind particular preferences; 3 formulation of guidelines for human resources management in organizations. In order to achieve these objectives, the results of the study encompassing 2076 respondents, specialists employed in various departments of Polish innovative companies, were analysed. On average, for each evaluated age group, the preferred retirement age was much lower than the statutory retirement age in Poland (65 years . In case of women in 45+ age groups, the average retirement age was observed to be higher than 60 years (the new statutory threshold.
Christiansen, Terkel; Lauridsen, Jørgen Trankjær
Earlier studies of health inequality across European countries have shown intriguing results, in particular with respect to retirement status as one of the determinants of health inequality. A priori, one would expect that inequality in health and income would be associated. Theory suggests...... into its determinants allows a calculation of the contribution of each determinant’s separate contribution to inequality in health. The results presented here indicate that retirement status contributes substantially to income-related inequality in health across European countries, and that the variation...... can be explained by income differences as well as health differences, depending on the country considered. Furthermore, it is indicated that the contribution from retirement status falls for certain countries due to improved socioeconomic status as well as improved health of the retired....
Brown, James Craig; Kerkhoffs, Gino; Lambert, Mike I; Gouttebarge, Vincent
Rugby has a higher injury burden than other popular sports, such as football. Athletes who are forced to retire as a result of injury are associated with poor mental health. With its high injury burden, professional rugby players might be at risk of mental health conditions associated with injury-related forced retirement. This study aimed to compare mental health between former professional rugby players who were and weren't forced to retire. A questionnaire including the 4DSQ (distress), GHQ-12 (anxiety/depression), PROMIS short-form (sleep disturbance) and AUDIT-C (alcohol misuse) was completed by retired professional players from Ireland, France and South Africa. The questionnaire asked players whether or not they were forced to retire, as well as the reason for retirement. Players forced to retire were more than twice as likely to report symptoms of distress in comparison to those that retired voluntarily (odds ratio: 2.1, 95% confidence interval: 1.2-3.6, prugby players that were forced to retire may require support structures and longitudinal monitoring. Future studies should begin monitoring players during their careers to accurately assess the effect of retirement on mental health. © Georg Thieme Verlag KG Stuttgart · New York.
Kim, Joung Soo; Han, Joung Ho; Kim, Hong Pyo; Lim, Yun Soo; Lee, Deok Hyun; Hwang, Seong Sik; Hur, Do Haeng [Korea Atomic Energy Research Institute, Taejeon (Korea)
The tubes of the steam generator retired form Kori unit 1 have many different kinds of failures, such as denting pitting, wastage, ODSCC, PWSCC.Korea Electric Power Research Institute (KEPRI) submitted a research proposal for the steam generator to the Korea Institute S and T Evaluation and Planning (KSITEP). The KISTEP requested Korea Atomic Energy Research Institute to review the proposal by organizing a committee which should be composed of the specialists of the related domestic research institutes. Opinions of the committee on the objectives, research fields, economic benefit and validity in the research proposal were reviewed and suggested optimal research fields to be fulfilled successfully for the retired steam generator. Also, the rolls for the participants in the research works were allocated, which is critical in order to do the project effectively. 6 figs., 5 tabs. (Author)
Rook, Christopher J.
Prior to the financial crisis mortgage securitization models increased in sophistication as did products built to insure against losses. Layers of complexity formed upon a foundation that could not support it and as the foundation crumbled the housing market followed. That foundation was the Gaussian copula which failed to correctly model failure-time correlations of derivative securities in duress. In retirement, surveys suggest the greatest fear is running out of money and as retirement dec...
Full Text Available The political shift in Lebanon since the 1990s towards market-led development has encouraged the incremental appropriation of public spaces and state lands, and their conversion into gated, monitored enclaves that serve a privileged few. The process disregards the role of the urban public realm and undermines its potential as an inclusive space and enabling platform for urban governance. This article advocates a participatory approach to urban development, one that engages local stakeholders, institutions, and the public at large as active partners working towards sustainable urban futures. We draw on a case study in Saida, Lebanon, to illustrate participatory planning methods and demonstrate the role of landscape architects in enabling community-led development that is place responsive and sensitive to local narratives of heritage and identity. The project’s participatory methodology and landscape architecture’s expansive framing, the paper argues, democratizes the planning process and contributes to urban governance that empowers local authorities and local stakeholders in the face of privatization and market-led development.
22202-4302, and to the Office of Management and Budget , Paperwork Reduction Project (0704-0188) Washington DC 20503. 1. AGENCY USE ONLY (Leave...VALUE OF THE TSP ...........16 D. ELEMENTS OF RETIRE TOOL ANALYSIS .....................................18 1. Cash Flow Analysis...23 3. Cash Flow Comparison ...............................................................24 4. Volatility Analysis
Zuehlsdorff, Harry W.; Baldwin, Cynthia
Preparing for retirement can sometimes be problematic since it means that one is aging and moving into another life cycle change. This paper will review some factors to consider in making the transition a more positive experience. The impact of retirement on older citizens is frequently neglected in the counseling arena. In the current youth…
Chandler, Rebecca C; Robinson, Oliver C
A retirement village consists of a collection of privately owned or leased flats or maisonettes for elderly adults that are supported by a central hub that provides catering, medical care and social activities. There have been studies of the psychological experience and impacts of such environments, however, there is lack of research that links the retirement village experience to overarching theories of eudaimonic wellbeing, and that uses qualitative methods to find out about how wellbeing manifests for the individual. This study used Ryff's (1989) model of wellbeing as a framework for analysis, while aiming to gain an in-depth understanding of the experiences and sources of wellbeing in residents of two retirement villages in the South East of England. Semi-structured interviews were carried out with 18 residents. Thematic analysis revealed a dialectical tension to retirement village living: while facilitating all six core components of eudaimonic wellbeing as conceptualized by Ryff's model, individuals living within the retirement villages also experience challenges to wellbeing on the same dimensions. An integrative model of these tensions between positive and negative experiences is presented and discussed. Copyright © 2014 Elsevier Inc. All rights reserved.
Dong, Francis Henry
In the wake of recent events, especially the Great Recession of 2007-2009, affecting the economy, resulting in job losses, personal financial distress, and gloomy perceptions of their future well-being, many Americans are concerned about their financial quality of life in retirement. The media is replete with a plethora of advertisements for…
Carmichael, Laurence; Barton, Hugh; Gray, Selena; Lease, Helen; Pilkington, Paul
This article presents the results of a review of literature examining the barriers and facilitators in integrating health in spatial planning at the local, mainly urban level, through appraisals. Our literature review covered the UK and non UK experiences of appraisals used to consider health issues in the planning process. We were able to identify four main categories of obstacles and facilitators including first the different knowledge and conceptual understanding of health by different actors/stakeholders, second the types of governance arrangements, in particular partnerships, in place and the political context, third the way institutions work, the responsibilities they have and their capacity and resources and fourth the timeliness, comprehensiveness and inclusiveness of the appraisal process. The findings allowed us to draw some lessons on the governance and policy framework regarding the integration of health impact into spatial planning, in particular considering the pros and cons of integrating health impact assessment (HIA) into other forms of impact assessment of spatial planning decisions such as environmental impact assessment (EIA) and strategic environment assessment (SEA). In addition, the research uncovered a gap in the literature that tends to focus on the mainly voluntary HIA to assess health outcomes of planning decisions and neglect the analysis of regulatory mechanisms such as EIA and SEA. - Highlights: ► Governance and policy barriers and facilitators to the integration of health into urban planning. ► Review of literature on impact assessment methods used across the world. ► Knowledge, partnerships, management/resources and processes can impede integration. ► HIA evaluations prevail uncovering research opportunities for evaluating other techniques.
Mihai Robert, PAŞNICU
The paper aims to shed light on the policies and consequences of the current retirement age in Romania. The retirement age has been repeatedly incremented in Romania in the last couple of years in order to try to compensate for the fact that the country has a low general employment rate, only 30% of the population, while having 20% of the total population aged 65+. By using an econometric model we will first prove the existence of an optimal retirement age that might vary for each and every o...
Office of Personnel Management — A place for the U.S. Office of Personnel Management (OPM) to share information about retirement benefits for new, prospective, and current Federal employees, as well...
Full Text Available Over the last two decades there has been robust discussion by many governments and financial communityleaders generally, that financial security can only be achieved when a country’s population is considered to befinancially literate. Hence individuals need to be financially literate if they are to make informed decisionsabout savings, investments, debt and most importantly when considering retirement issues. No longer canthere be a reliance on social security in retirement due to the ever increasing ageing population and adeclining tax base worldwide.In both Australia and New Zealand, governments have put structures in place as a result of external evidencesuggesting both populations have questionable levels of financial literacy. Both governments have formulatedpolicies and embarked upon initiatives to address this issue. The strategies and structures used, whilst similar,encompassed some unique elements which makes a comparative investigation and discussion interesting.The outcomes of this research paper highlight that even with similar desired outcomes there can be multiplepathways.The rationale for this paper was the lack of any published academic literature in both Australia and NewZealand that reported on the stated government policies and there subsequent initiatives that related to theimprovement of financial literacy. Whilst structures to address government concerns have been put in place,the ability to assess the effectiveness of these initiatives has proven difficult, due to the sparse nature ofpublicly available information and the lack of access to the survey design, development and analysis. It shouldbe noted that this is an exploratory paper primarily to raise questions rather that provide a critical assessmentof either countries policies.While this research paper primarily seeks to describe and review both the policies and strategies implementedby the Australian and New Zealand governments in respect of financial literacy
Special Meeting concerning the TAXATION OF PENSIONS IN FRANCE Following the pre-retirement seminar held at CERN in March 2001, the Human Resources Division and the CERN Pensioners Association (GAC) are organising a special information session on the Taxation of CERN pensions in France The speaker will be S. Agarrat, a barrister specialising in tax law (practising in Lyon) and the meeting will take the form of a general presentation of the subject, followed by a question-and-answer session. This meeting is intended for CERN pensioners residing in France, as well as for staff due to retire from the Organization in 2001/2002. Registration is not necessary. The meeting will take place on Wednesday, 28 November 2001, from 4.30 p.m. to 6.30 p.m., in the Main Auditorium N.B.: Questions concerning the taxation rules applicable to salaries paid by CERN, in particular questions relating to the CRDS tax, will not be dealt with during this meeting.
NSTec Environmental Restoration
This Corrective Action Decision Document/Corrective Action Plan (CADD/CAP) has been prepared for the 92-Acre Area, the southeast quadrant of the Radioactive Waste Management Site, located in Area 5 of the Nevada Test Site (NTS). The 92-Acre Area includes Corrective Action Unit (CAU) 111, 'Area 5 WMD Retired Mixed Waste Pits.' Data Quality Objectives (DQOs) were developed for the 92-Acre Area, which includes CAU 111. The result of the DQO process was that the 92-Acre Area is sufficiently characterized to provide the input data necessary to evaluate corrective action alternatives (CAAs) without the collection of additional data. The DQOs are included as Appendix A of this document. This CADD/CAP identifies and provides the rationale for the recommended CAA for the 92-Acre Area, provides the plan for implementing the CAA, and details the post-closure plan. When approved, this CADD/CAP will supersede the existing Pit 3 (P03) Closure Plan, which was developed in accordance with Title 40 Code of Federal Regulations (CFR) Part 265, 'Interim Status Standards for Owners and Operators of Hazardous Waste Treatment, Storage, and Disposal Facilities.' This document will also serve as the Closure Plan and the Post-Closure Plan, which are required by 40 CFR 265, for the 92-Acre Area. After closure activities are complete, a request for the modification of the Resource Conservation and Recovery Act Permit that governs waste management activities at the NTS will be submitted to the Nevada Division of Environmental Protection to incorporate the requirements for post-closure monitoring. Four CAAs, ranging from No Further Action to Clean Closure, were evaluated for the 92-Acre Area. The CAAs were evaluated on technical merit focusing on performance, reliability, feasibility, safety, and cost. Based on the evaluation of the data used to develop the conceptual site model; a review of past, current, and future operations at the site; and the detailed and comparative
This Corrective Action Decision Document/Corrective Action Plan (CADD/CAP) has been prepared for the 92-Acre Area, the southeast quadrant of the Radioactive Waste Management Site, located in Area 5 of the Nevada Test Site (NTS). The 92-Acre Area includes Corrective Action Unit (CAU) 111, 'Area 5 WMD Retired Mixed Waste Pits.' Data Quality Objectives (DQOs) were developed for the 92-Acre Area, which includes CAU 111. The result of the DQO process was that the 92-Acre Area is sufficiently characterized to provide the input data necessary to evaluate corrective action alternatives (CAAs) without the collection of additional data. The DQOs are included as Appendix A of this document. This CADD/CAP identifies and provides the rationale for the recommended CAA for the 92-Acre Area, provides the plan for implementing the CAA, and details the post-closure plan. When approved, this CADD/CAP will supersede the existing Pit 3 (P03) Closure Plan, which was developed in accordance with Title 40 Code of Federal Regulations (CFR) Part 265, 'Interim Status Standards for Owners and Operators of Hazardous Waste Treatment, Storage, and Disposal Facilities.' This document will also serve as the Closure Plan and the Post-Closure Plan, which are required by 40 CFR 265, for the 92-Acre Area. After closure activities are complete, a request for the modification of the Resource Conservation and Recovery Act Permit that governs waste management activities at the NTS will be submitted to the Nevada Division of Environmental Protection to incorporate the requirements for post-closure monitoring. Four CAAs, ranging from No Further Action to Clean Closure, were evaluated for the 92-Acre Area. The CAAs were evaluated on technical merit focusing on performance, reliability, feasibility, safety, and cost. Based on the evaluation of the data used to develop the conceptual site model; a review of past, current, and future operations at the site; and the detailed and comparative analysis of the
Biggs, John H.
Two proposals before Congress threaten to offset the delicate balance in pension plan design. The significance of the normal retirement feature in plan design, some possible program design changes, and how the pension arrangements of higher education institutions would be affected are discussed. (MLW)
Graham, R J
Economists use demography in planning and forecasting business needs. As a bank, Westpac uses the information for its own internal business purposes and to assess general economic trends. Externally, the bank is expected by government and the public to have some authoritative views on the state of the economy. To form these views, it is necessary to understand a very wide array of statistical indicators, including demographic statistics. The main population issues of concern are: size, location, and changes in the population of Australia as a whole and by State; labor force (including projections); age profile of Australia and by State. The major source for this information is the Australian Bureau of Statistics. More detailed patterns often emerge, particularly for individual States, from papers prepared by others. This information is used by Westpac in 3 main planning areas and 2 broad assessment areas: planning -- location of bank branches, products/services offered, and marketing of products/services; and assessment -- economic outlook (labor force, housing needs, demand for funds) and specific industries. Recently, Westpac restructured its organization to cater to the changing needs of customers and the changing geographic patterns of population spread. The bank now has 4 major groups: retail financial services for personal and commercial markets; corporate and international; management services; and group planning (includes economic department). To offer products that fit the market, the bank needs to know the characteristics of the population by age, spending patterns, lifestyle preferences, and investment needs. Within Australia, a relatively new service offered by most financial institutions, which is directly related to population issues, is a counseling service for retirees. Westpac has a product called Club 55, which is a package of services designed for persons who have retired or are planning to retire. Another clearly perceived community need is for
V А Kushtanina
Full Text Available The retirement is traditionally considered by sociologists as one of the critical stages of the individual life history implying the loss of one of the fundamental identity elements in the contemporary society - work. Although both Russia and France enjoy the similar retirement pension financing schemes, two alternative retirement age regulation schemes are provided. The article offers the analysis of the advantages and limitations of both schemes.
Olesen, Kasper; Rod, Naja Hulvej; Madsen, Ida E.H.
by reduced prevalence of hospital treatment for depression and antidepressant purchase. METHODS: Participants were 245 082 Danish workers who retired between 2000 and 2006. Information on retirement, hospital treatment and antidepressant purchases were obtained from Danish national registers. The yearly...
...) civilian acquisition workforces. The greater need for workforce planning is expected to arise from an unusually heavy workforce turnover, itself due to a large number of expected retirements among older employees in a workforce...
Helldán, Anni; Lallukka, Tea; Rahkonen, Ossi; Lahelma, Eero
Retirement is one of the major transitions in the life course. However, it is poorly understood how health behaviours, such as food habits, might change after retirement. This study aimed to examine whether healthy food habits change after the transition to old age retirement and whether socio-demographic or health-related factors explain the association between retirement, being continuously employed and healthy food habits at follow-up. The data were derived from the Helsinki Health Study cohort on the staff of the City of Helsinki, Finland. The baseline questionnaire survey data were collected in 2000-02 and the follow-up in 2007. We included only participants who were aged 55-60 years at baseline and entered old age retirement during the follow-up (n = 1156, 76% women) or remained continuously employed (n = 1269, 79% women). Food habits from a food frequency questionnaire included eight items formed according to the Finnish and Nordic dietary recommendations. Logistic regression models were fitted to examine the associations between retirement, being continuously employed and healthy food habits at follow-up. Healthy food habits increased more among retired women than those continuously employed (P = 0.03). At follow-up retired women had healthier food habits than continuously employed women after adjusting for baseline food habits [OR = 1.36 (1.12-1.65)]. Among men, healthy food habits were unassociated with retirement. Transition to old age retirement is likely to have beneficial effects on food habits among women. This helps prevent major diseases and supports better public health among ageing people.
Gouttebarge, Vincent; Aoki, Haruhito; Verhagen, Evert; Kerkhoffs, Gino
Mental disorders have become a topic of increasing interest in research due to their serious consequences for quality of life and functioning. The objective of this study was to explore the relationship of level of education, employment status and working hours with symptoms of common mental disorders (distress, anxiety/depression, sleep disturbance, adverse alcohol behaviour, smoking, adverse nutritional behaviour) among current and retired professional footballers. Cross-sectional analyses were conducted on baseline questionnaires from an ongoing prospective cohort study among current and retired professional footballers. Based on validated scales, an electronic questionnaire was set up and distributed by players' unions in 11 countries across three continents. A total of 607 current professional footballers (mean age of 27 years) and 219 retired professional footballers (mean age of 35 years) were involved in the study. Among retired professional footballers, statistically significant negative correlations were found between employment status and symptoms of distress and anxiety/depression (P working hours and symptoms of anxiety/depression (P working hours was weakly correlated to symptoms of distress and anxiety/depression. Combining a football career with sustainable attention for educational and career planning might be important and of high priority.
Full Text Available Objectives: Retirement impacts different dimensions of life such as physical, psychological, social, economic, and spiritual aspects. Since identification of the factors promoting or demoting health situation of retirees is important; this study aimed to determine the level of retirement syndrome in Babol retirees. Methods & Materials: This cross-sectional study was conducted on 205 retirees aged over 50 years. Data were gathered by a questionnaire consisting of 2 sections; Demographic characteristics and retirement syndromes. Retirement syndrome questionnaire consisted of 40 questions in 5-point scale (“never” to “always” in 4 dimensions of “helplessness and failure”, “older and idleness”, “trying and new directions”, and “conflict and confusion”. Data were analyzed by SPSS. The Pearson and Spearman tests were used to evaluate the within group variables. To analyze the data, the correlation coefficient test, t-test, and analysis of variance (ANOVA were performed. The significant level for all tests was set at 0.05. Results: About 53% of the participants were male and 47% female with an average (SD age 61.13(5.87 years. Means(SD scores of “helplessness and failure”, “older and idleness”, “trying and new directions”, and “conflict and confusion” were 2.08(0.52, 3.73(0.51, 3.47(0.65 and 2.49(0.56, respectively. There were a direct significant association between “feeling helplessness” and “conflict and confusion” (P<0.0001 and a reverse relationship between “older and idleness” and “trying and new directions” (P<0.0001. Conclusion: Findings of this research showed that retirees of Babol County partly suffer from retirement syndrome. Therefore, paying attention to them and promotion of the retirees’ situation seems necessary.
...-30, was mailed to special district governments only. The form collected only basic information on the..., retirement/pension plan, government activity, public services, judicial or legal activities, and finance. The... information on the general characteristics of the government. The finance section of the questionnaire...
Full Text Available The relationship between gender and retirement in Spain is paradoxical. The female employment rate between the ages of 55 and 64 is slightly more than half that of the male rate, whilst the average retirement age amongst women is much higher. Using event-history analysis techniques, this paper analyses whether this puzzling gender difference is due to compositional or selection effects. Data comes from a special retirement module within the 2006 Spanish Labour Force Survey (Encuesta de Población Activa, EPA.It applies a novel methodological framework, contrasting the results from a naïve survival analysis with those from a duration- selection model. The results suggest that women retire later than men above all because, from a fi nancial point of view, they cannot afford to retire any earlier.
Pietiläinen, Olli; Laaksonen, Mikko; Lahelma, Eero; Salonsalmi, Aino; Rahkonen, Ossi
This study aimed to investigate whether hospitalisation is associated with increased risk of disability retirement differently across four occupational classes. 170,510 employees of the City of Helsinki, Finland were followed from 1990 to 2013 using national registers for hospitalisations and disability retirement. Increases in the risk of disability retirement after hospitalisation for any cause, cardiovascular diseases, musculoskeletal disorders, mental disorders, malignant neoplasms, respiratory diseases and injuries were assessed across four occupational classes: professional, semi-professional, routine non-manual and manual, using competing risks models. In general, hospitalisation showed a slightly more increased risk of disability retirement in the lower ranking occupational classes. Hospitalisation among women for mental disorders showed a more increased risk in the professional class (hazard ratio 14.73, 95% confidence interval 12.67 to 17.12) compared to the routine manual class (hazard ratio 7.27, 95% confidence interval 6.60 to 8.02). Occupational class differences were similar for men and women. The risk of disability retirement among women increased most in the routine non-manual class after hospitalisation for musculoskeletal disorders and injuries, and most in the professional class after hospitalisation for cardiovascular diseases. The corresponding risks among men increased most in the two lowest ranking classes after hospitalisation for injuries. Ill-health as measured by hospitalisation affected disability retirement in four occupational classes differently, and the effects also varied by the diagnostic group of hospitalisation. Interventions that tackle work disability should consider the impact of ill-health on functioning while taking into account working conditions in each occupational class.
Muhammad Shakil Ahmad
Full Text Available The discourse of governance and development practitioners continues to embrace community participation and community empowerment as an elementary means of building local capacity for poverty reduction, development and change at the local level. This article is a review of the decentralization initiatives of local government systems after the announcement of the devolution plan in Pakistan. It evaluates the initiatives’ participatory methods to ascertain the extent to which they have improved the process of community development at the local level. This article also measures the impact of community empowerment on the sustainability of community-driven projects implemented under the decentralization initiative through community-based organizations known as Citizen Community Boards (CCBs. Document analysis and literature review methodologies were employed to gain further insight into the decentralization phenomenon in Pakistan. The results describe human development, improvements in community empowerment and the sustainability of local projects; however, the sense of community has yet to be translated into shared benefits for rural communities. The fundamental goal of decentralization seems to be elusive because only power was transferred to the local level, whereas there is little support for community capacity building and community access to resources and the elites still control the electoral process. It is argued that community development initiatives in Pakistan require continuous support from local governments to boost local rural economies. Likewise, community-local government participatory development strategies can lead to strong local ownership and empowerment in rural communities.
Following the Standing Concertation Committee meeting of 2 December 2008, please note that the Progressive Retirement Programme has been extended by one year, i.e. until 31 March 2010. Further information is available on : https://hr-services.web.cern.ch/hr-services/services-Ben/prp/prp.asp HR Department, tel. 73903
de Wind, Astrid; Geuskens, Goedele A; Ybema, Jan Fekke; Bongers, Paulien M; van der Beek, Allard J
Determinants in the domains health, job characteristics, skills, and social and financial factors may influence early retirement through three central explanatory variables, namely, the ability, motivation, and opportunity to work. Based on the literature, we created the Early Retirement Model. This study aims to investigate whether data support the model and how it could be improved. Employees aged 58-62 years (N=1862), who participated in the first three waves of the Dutch Study on Transitions in Employment, Ability and Motivation (STREAM) were included. Determinants were assessed at baseline, central explanatory variables after one year, and early retirement after two years. Structural equation modeling was applied. Testing the Early Retirement Model resulted in a model with good fit. Health, job characteristics, skills, and social and financial factors were related to the ability, motivation and/or opportunity to work (significant β range: 0.05-0.31). Lower work ability (β=-0.13) and less opportunity to work (attitude colleagues and supervisor about working until age 65: β=-0.24) predicted early retirement, whereas the motivation to work (work engagement) did not. The model could be improved by adding direct effects of three determinants on early retirement, ie, support of colleagues and supervisor (β=0.14), positive attitude of the partner with respect to early retirement (β=0.15), and not having a partner (β=-0.13). The Early Retirement Model was largely supported by the data but could be improved. The prolongation of working life might be promoted by work-related interventions focusing on health, work ability, the social work climate, social norms on prolonged careers, and the learning environment.
Mehnert, A; Barth, J; Gaspar, M; Leibbrand, B; Kegel, C-D; Bootsveld, W; Friedrich, M; Hartung, T J; Berger, D; Koch, U
This longitudinal study was designed to assess patients' desire for early retirement and investigate which cancer-related and psychosocial characteristics are associated with early retirement. We assessed 750 cancer patients at the beginning (t 0 ) and end (t 1 ) of, and 12 months after (t 2 ) inpatient cancer rehabilitation. At t 0 , 22% had a desire to retire early. These patients reported significantly longer sick leave periods, less favourable workplace environments, lower work ability, higher psychological distress and lower quality of life than other patients. At t 2 , 12.5% of patients received temporary or permanent early retirement pensions. Of all patients with a desire for early retirement at t 0 , 43% had returned to work at t 2 . This subgroup had a significantly lower physical quality of life than other patients returning to work. The most influential predictors of early retirement were being on sick leave (OR = 6.50, 95% CI = 1.97-21.47) and a desire for early retirement (OR = 5.61, 95% CI = 2.73-11.52). Inverse predictors of early retirement were cancer remission (OR = 0.23, 95% CI = 0.10-0.53), perceived productivity (OR = 0.38, 95% CI = 0.18-0.83), work satisfaction (OR = 0.36, 95% CI = 0.17-0.77) and mental quality of life (OR = 0.94, 95% CI = 0.91-0.98). This underlines the need for cancer-specific multi-professional rehabilitation and occupational therapy programmes. © 2016 John Wiley & Sons Ltd.
Beshears, John; Choi, James J; Laibson, David; Madrian, Brigitte C
We describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have shifted toward defined contribution (DC) plans as their primary savings plan, and fiscal pressures are likely to generate more movement in this direction. Holding fixed a public employee's work and salary history, we show that DB retirement income replacement ratios vary greatly across jurisdictions. This creates large variation in workers' need to save for retirement in other accounts. There is also substantial heterogeneity across jurisdictions in the savings generated in primary DC plans because of differences in the level of mandatory employer and employee contributions. One notable difference between public and private sector DC plans is that public sector primary DC plans are characterized by required employee or employer contributions (or both), whereas private sector plans largely feature voluntary employee contributions that are supplemented by an employer match. We conclude by applying lessons from savings behavior in private sector savings plans to the design of public sector plans.
Retirement System. Military Retitement, Retirement. Military Pension 16. SECURilY CLASSIFICAnONOF: 17. UMITAllON OF 18.NUMBeR L ou::rUI’\\1 b.RDOI~ .. T c...Board’s public release of their retirement proposal, the ensuing media attention, the growing concerns over the budget deficit and growing national debt...value. As NPV decreases, there is a point where value begins to drop rapidly , but eventually levels off and reverts to more moderate decreases in
... regulations which include in the definition of an applicable defined benefit plan any defined benefit plan (or... benefits as the current value of an accumulated percentage of the participant's final average compensation... accumulated percentage of the participant's final average compensation and (2) the benefit attributable to...
Gardner, Andrew J; Iverson, Grant L; Wojtowicz, Magdalena; Levi, Christopher R; Kay-Lambkin, Frances; Schofield, Peter W; Zafonte, Ross; Shultz, Sandy R; Lin, Alexander P; Stanwell, Peter
The aim of this study was to examine brain neurometabolite concentrations in retired rugby league players who had a history of numerous self-reported concussions. Participants were 16 retired professional rugby league players (ages 30-45 years) with an extensive history of concussion and participation in contact sports, and 16 age- and education-matched controls who had no history of neurotrauma or participation in contact sports. All completed a clinical interview, psychological and cognitive testing, and magnetic resonance spectroscopy (MRS) investigation. MRS voxels were placed in posterior cingulate grey matter and parietal white matter. Neurometabolite concentrations were quantified using LCModel. It was hypothesized that retired athletes would differ on N-acetyl aspartate, myo-inositol, choline, glutamate, and glutathione. Retired players had significantly lower concentrations of grey matter glutathione (p=0.02, d=0.91). They did not significantly differ in concentrations of other neurometabolites. There were no significant differences between groups on measures of depression, anxiety, or cognitive functioning. The retired athletes reported significantly greater alcohol use (pcognitive performance and self-reported psychological functioning. © Georg Thieme Verlag KG Stuttgart · New York.
Hiemstra, Djoerd; Tait, J.; MacFarlane, A; Belkin, N.
Stephen Robertson retired from the Microsoft Research Lab in Cambridge during the summer of 2013 after a long career as one of the most influential, well-liked and eminent researchers in Information Retrieval throughout the world.
On December 1st, 2002, after thirty- seven years of service, first in Chile and then in Garching, Ms. Christa Euler will leave ESO to enjoy a welldeserved retirement. Among the current staff, she is probably the only person who started her career at ESO just four years after the Organization was founded.
Horner, Elizabeth Mokyr; Cullen, Mark R
Is retirement good or bad for health? Disentangling causality is difficult. Much of the previous quasi-experimental research on the effect of health on retirement used self-reported health and relied upon discontinuities in public retirement incentives across Europe. The current study investigated the effect of retirement on health by exploiting discontinuities in private retirement incentives to test the effect of retirement on health using a quasi-experimental study design. Secondary data (1997-2009) on a cohort of male manufacturing workers in a United States setting. Health status was determined using claims data from private insurance and Medicare. Analyses used employer-based administrative and claims data and claim data from Medicare. Widely used selection on observables models overstate the negative impact of retirement due to the endogeneity of the decision to retire. In addition, health status as measured by administrative claims data provide some advantages over the more commonly used survey items. Using an instrument and administrative health records, we find null to positive effects from retirement on all fronts, with a possible exception of increased risk for diabetes. This study provides evidence that retirement is not detrimental and may be beneficial to health for a sample of manufacturing workers. In addition, it supports previous research indicating that quasi-experimental methodologies are necessary to evaluate the relationship between retirement and health, as any selection on observable model will overstate the negative relationship of retirement on health. Further, it provides a model for how such research could be implemented in countries like the United States that do not have a strong public pension program. Finally, it demonstrates that such research need-not rely upon survey data, which has certain shortcomings and is not always available for homogenous samples.
... by an enrolled actuary (as defined by the Employee Retirement Income Security Act of 1974) affirming... expectations, and represent the actuary's best estimate of the plan's projected experiences. [59 FR 66159, Dec...
Kopanidis, Foula Z; Robinson, Linda J; Reid, Mike
The transition into retirement is an important life phase that presents significant challenges in respect to well-being, lifestyle, and consumption choices. This article examines the consumption context of housing after retirement, in particular for the low-resourced cohort of single baby boomer women. Utilizing an extended Theory of Planned Behavior model, we examine the relationship between intention and actual behavior, in this case financial advice seeking, as an important component of the psychological preparedness of single female baby boomer women. Our analysis showed both Australian and UK single baby boomer women display different behaviors in terms of seeking advice and their mental preparedness to adjust to a change in their living arrangements. The findings are discussed in terms of their implications for policy and further research.
Full Text Available In the context of urban densification and central urban areas’ lack of open spaces, new forms of small-scale urban gardening practices have emerged. These gardening practices respond to urban pressures and open new modes of green space governance, presenting alternative and multifunctional ways to manage and revitalise cities. Focusing on the case of Geneva, the article unfolds two levels of discussion. On the one hand—and with reference to the theorist Habermas—it examines how multiple actors with different interests interplay and cooperate with each other in order to negotiate over open space, while discussing implications for local politics and planning. On the other hand, it describes how these negotiations result in new, innovative, and hybrid forms of public green space. The main findings indicate emerging forms of collaboration, partnerships, and governance patterns that involve public and private sectors and increase participation by civil society actors. Cooperation amongst several interested groups and the collective re-invention of public urban spaces increase these spaces’ accessibility for multiple users and actors, as well as present possibilities for alternative and diversified uses and activities. This might underline the hypothesis that future cities will be governed in less formalised ways, and that urban forms will be created through spontaneous, temporary, mobile, and adaptive negotiation processes.
The best practices in refrigerator retirement programs in North America were identified in an effort to develop a concept for an Ontario-wide provincial refrigerator retirement program. The report focused on describing refrigerator retirement programs, namely those programs that focused on getting rid of old secondary refrigerators. The report excluded refrigerator replacement programs, which encourage householders to retire their refrigerators early and replace them with an energy star refrigerator. However, it was noted that in several regions, both replacement and retirement programs are offered at the same time. The report provided background information on energy use by refrigerators as well as refrigerator retirement and replacement programs. Types of refrigerator retirement and replacement programs and the environmental benefits of these programs were also described. The report also addressed the potential energy impact of an Ontario-wide refrigerator retirement program as well as consumer incentive and bounties initiatives to encourage households to retire units. Other topics covered in the report included the design of typical refrigerator retirement and replacement programs; collection and recycling of retired refrigerators; reported costs of refrigerator retirement and replacement programs; as well as marketing and advertising. The role of retailers and manufacturers and reported lessons learned from refrigerator retirement and replacement were also presented. 14 refs., 6 tabs., 6 appendices.
This Corrective Action Decision Document/Corrective Action Plan (CADD/CAP) has been prepared for the 92-Acre Area, the southeast quadrant of the Radioactive Waste Management Site, located in Area 5 of the Nevada National Security Site (NNSS). The 92-Acre Area includes Corrective Action Unit (CAU) 111, 'Area 5 WMD Retired Mixed Waste Pits.' Data Quality Objectives (DQOs) were developed for the 92-Acre Area, which includes CAU 111. The result of the DQO process was that the 92-Acre Area is sufficiently characterized to provide the input data necessary to evaluate corrective action alternatives (CAAs) without the collection of additional data. The DQOs are included as Appendix A of this document. This CADD/CAP identifies and provides the rationale for the recommended CAA for the 92-Acre Area, provides the plan for implementing the CAA, and details the post-closure plan. When approved, this CADD/CAP will supersede the existing Pit 3 (P03) Closure Plan, which was developed in accordance with Title 40 Code of Federal Regulations (CFR) Part 265, 'Interim Status Standards for Owners and Operators of Hazardous Waste Treatment, Storage, and Disposal Facilities.' This document will also serve as the Closure Plan and the Post-Closure Plan, which are required by 40 CFR 265, for the 92-Acre Area. After closure activities are complete, a request for the modification of the Resource Conservation and Recovery Act Permit that governs waste management activities at the NNSS will be submitted to the Nevada Division of Environmental Protection to incorporate the requirements for post-closure monitoring. Four CAAs, ranging from No Further Action to Clean Closure, were evaluated for the 92-Acre Area. The CAAs were evaluated on technical merit focusing on performance, reliability, feasibility, safety, and cost. Based on the evaluation of the data used to develop the conceptual site model; a review of past, current, and future operations at the site; and the detailed and comparative
NSTec Environmental Restoration
This Corrective Action Decision Document/Corrective Action Plan (CADD/CAP) has been prepared for the 92-Acre Area, the southeast quadrant of the Radioactive Waste Management Site, located in Area 5 of the Nevada National Security Site (NNSS). The 92-Acre Area includes Corrective Action Unit (CAU) 111, 'Area 5 WMD Retired Mixed Waste Pits.' Data Quality Objectives (DQOs) were developed for the 92-Acre Area, which includes CAU 111. The result of the DQO process was that the 92-Acre Area is sufficiently characterized to provide the input data necessary to evaluate corrective action alternatives (CAAs) without the collection of additional data. The DQOs are included as Appendix A of this document. This CADD/CAP identifies and provides the rationale for the recommended CAA for the 92-Acre Area, provides the plan for implementing the CAA, and details the post-closure plan. When approved, this CADD/CAP will supersede the existing Pit 3 (P03) Closure Plan, which was developed in accordance with Title 40 Code of Federal Regulations (CFR) Part 265, 'Interim Status Standards for Owners and Operators of Hazardous Waste Treatment, Storage, and Disposal Facilities.' This document will also serve as the Closure Plan and the Post-Closure Plan, which are required by 40 CFR 265, for the 92-Acre Area. After closure activities are complete, a request for the modification of the Resource Conservation and Recovery Act Permit that governs waste management activities at the NNSS will be submitted to the Nevada Division of Environmental Protection to incorporate the requirements for post-closure monitoring. Four CAAs, ranging from No Further Action to Clean Closure, were evaluated for the 92-Acre Area. The CAAs were evaluated on technical merit focusing on performance, reliability, feasibility, safety, and cost. Based on the evaluation of the data used to develop the conceptual site model; a review of past, current, and future operations at the site; and the detailed
Full Text Available This study aims to reconstruct the performance assessment model on Pension Fund by modifying Baldrige Assessment method that is adjusted to the conditions in Dana Pensiun A (Pension Fund A in order to realize Good Pension Fund Governance. This study design uses case study analysis. The research sites were conducted in Dana Pensiun A. The informants in the study included the employer, supervisory board, pension fund management, active and passive pension fund participant as well as financial services authority elements as the regulator. The result of this research is a construction of a comprehensive and profound retirement performance assessment model with attention to aspects of growth and fair distribution. The model includes the parameters of leadership, strategic planning, stakeholders focus, measurement, analysis, and knowledge management, workforce focus, standard operational procedure focus, result, just and fair distribution of wealth and power.
Löckenhoff, Corinna E
The impending retirement of large population cohorts creates a pressing need for practical interventions to optimize outcomes at the individual and societal level. This necessitates comprehensive theoretical models that acknowledge the multi-layered nature of the retirement process and shed light on the dynamic mechanisms that drive longitudinal patterns of adjustment. The present commentary highlights ways in which contemporary life-span developmental frameworks can inform retirement research, drawing on the specific examples of Bronfenbrenner's Ecological Model, Baltes and Baltes Selective Optimization with Compensation Framework, Schulz and Heckhausen's Motivational Theory of Life-Span Development, and Carstensen's Socioemotional Selectivity Theory. Ultimately, a life-span developmental perspective on retirement offers not only new interpretations of known phenomena but may also help to identify novel directions for future research as well as promising pathways for interventions.
Massimo Tarenghi, chronologically MPG/ESO project scientist, NTT project manager, VLT programme manager and first Director, ALMA Director and ESO Representative in Chile, has retired after 35 years at ESO. A brief summary of his achievements is presented.
Kim, J. H.; Jang, D. C.; Song, K. S.; Lee, S. J.; Ahn, C. S.; Kim, D. H.; Im, Y. K.; Kim, H. D. [Hanil Nuclear Co., Ltd., Anyang (Korea, Republic of)
It is a field study to develop and verify maintenance technologies such as verification and technology development of ECT (Eddy current test) using failure, heat tube excavation and field pressure test regarding the utilization of retired steam generator using 2 units of Retired Steam Generator in Kori 1 that was replaced for the first time in Korea in 1998. Since May, 2003, our team has investigated Retired Steam Generator which was stored in Radioactive waste warehouse in Korea Hydro and Nuclear Power Kori unit no.1 Branch, in order to study natural fault ECT signal acquisition, maintenance technology verification, small tubes/samples abstraction. A temporal task zone was made focusing on 'Man Way at the bottom of Chamber 'A'.' The purpose of the study is to establish Radiological Protection and Radioactive Waste Treatment Plan by setting ALARA (As Low As Reasonably Achievable) goal systematically, which is the basic concept of Radiological Protection and reduction in exposure of radiological workers to radioactive materials with proper Radiological Protection countermeasures according to the changes in radioactivity, to prevent expansion from contamination and to manage 'Radioactive Waste Reduction Activities' effectively.
The Governing Board held its 108th and 109th meetings on 5 February and 5 March respectively. At the first of these meetings, the Board heard a report by its Chairman, P. Levaux, on the CERN Council Session of December 2001. The Chairman reported that the Board that the 0.8% adjustment of pensions proposed by the Governing Board had been accepted as well as an amendment to the Rules of the Fund reducing the period of service required for entitlement to a deferred retirement pension from 10 to 5 years. The Governing Board also heard a report by the Chairman of the Investment Committee, G. Maurin, on the Committee's two January meetings. At the first of these, the Committee had addressed its structure and operating methods. Various proposals had been put forward aimed at increasing the Committee's efficiency and response time. Specific proposals will be submitted to the Governing Board during the year. In addition, on the basis of two specially commissioned studies, the Committee had examined the issue of curre...
Full Text Available AbstractThe special edition presents current research in the area of financial planning. With the continual upheaval inglobal financial markets (including Australia, the general trend towards self-funded retirement and lessreliance on the state, financial crises and the continual regulatory changes in the financial markets, this issue istimely and topical. This is the third special edition on financial planning, providing an excellent outlet forquality research in financial planning.
Lindbohm, M-L; Kuosma, E; Taskila, T
This study examined whether workplace support, sociodemographic factors and co-morbidity are associated with early retirement or non-employment due to other reasons among breast cancer survivors. We also compared quality of life and chronic symptoms (pain, fatigue, anxiety and depression) among...... employed, retired and other non-employed breast cancer survivors....
Cangelosi, J D; McAlhany, J W
Given the demographic trends, which indicate a need for facilities to accommodate a rapidly increasing and healthier elderly population, our study provides relevant and timely information for builders and health care administrators who are considering the initial construction of or addition to a congregate retirement facility. Though a congregate retirement facility must satisfy the demands of its residents for services and activities, cost considerations make it equally important for builders and administrators to offer only those services that are essential to meet those demands successfully. A multitude of services and activities may seem attractive to the general population and to investors as they formulate plans for new congregate facilities, but there is little need to provide or fund services and activities that are not used or demanded. Our findings show that the elderly target market for congregate facilities is primarily concerned with "necessity" services such as transportation, shopping, security, health care, and appearance, rather than the availability of a multitude of nonessential recreational and cultural activities. In summary, congregate facilities currently offer numerous activities and services that are not being used and are not important to residents or potential residents. Our exploratory research examines an area that has not been studied extensively and the findings are important in planning for the future. By using these findings, administrators and planners of congregate facilities should be able to determine effectively the types of services and activities that will satisfy the demands of the elderly during their retirement.
Retirement implies an important change from a working environment to a new lifestyle. Every individual copes with this transition in his own way. In this video, registered already a few years ago, Dr. Sartorius from WHO addresses some of his colleagues close to retirement and explains what situations they can expect to encounter. We make this video available to CERN personnel to stimulate their own thinking on the subject.
Human Resources Department
Following recommendation by the Standing Concertation Committee and approval by the Director-General, please note that: the Progressive Retirement Programme has been extended by one year, from 1 April 2011 until 31 March 2012; and the Part-Time Work as a Pre-retirement Measure has also been extended by one year, from 1 January 2011 until 31 December 2011. Further information is available from the following sites: https://cern.ch/admin-eguide/retraite/proc_prp.asp https://cern.ch/admin-eguide/retraite/proc_pTp.asp Tel. 73903
Meng, Annette; Nexø, Mette Andersen; Borg, Vilhelm
Knowledge on factors affecting the rate of cognitive decline and how to maintain cognitive functioning in old age becomes increasingly relevant. The purpose of the current study was to systematically review the evidence for the impact of retirement on cognitive functioning and on age related cognitive decline. We conducted a systematic literature review, following the principles of the PRISMA statement, of longitudinal studies on the association between retirement and cognition. Only seven studies fulfilled the inclusion criteria. We found weak evidence that retirement accelerates the rate of cognitive decline in crystallised abilities, but only for individuals retiring from jobs high in complexity with people. The evidence of the impact of retirement on the rate of decline in fluid cognitive abilities is conflicting. The review revealed a major knowledge gap in regards to the impact of retirement on cognitive decline. More knowledge on the association between retirement and age related cognitive decline as well as knowledge on the mechanisms behind these associations is needed.
Segel-Karpas, Dikla; Werner, Perla
Studies suggest that a large proportion of adults do not manage to save enough for retirement. Correlates of retirement saving behaviors have yet to be fully understood. The goal of this study was to examine perceived financial preparedness for retirement and its correlates. We studied the effect of perceived financial knowledge and involvement, social and institutional support, and attitudes toward retirement in a national sample of 227 non-retired Israeli adults (mean age = 44; 53% female; 81% Jewish). Results indicated that only about 20% perceived themselves as financially prepared for retirement. The main correlates of financial preparedness were financial knowledge and involvement in financial activities. The results show that a large proportion of the Israeli population feel underprepared for retirement. Those who perceive themselves as having high levels of financial knowledge are less predisposed to feel underprepared. Future research should examine the relationship between perceived financial preparedness and actual savings. © The Author(s) 2015 Reprints and permissions: sagepub.co.uk/journalsPermissions.nav.
Pension reforms all across Europe have a common theme: to reduce the generosity of the pay-as-you-go public pension pillar threatened by population aging, and to build up new pillars by private saving through occupational and individual pension plans. The extent of such retirement saving varies a great deal across Europe. This variation reflects, among other factors, the differences in public pension sys-tems, taxation and capital market regulations. The first part of this paper looks at this...
Full Text Available This paper analyses the response of the Municipality of Barcelona to the Syrian refugee crisis in Europe as an alternative solution that challenges the national government’s restrictive approach. This response introduces the Ciutat Refugi Plan with a city-to-city network at the municipal level that involves other European cities in creating safe routes for refugees at the local government level. In line with multi-level governance theory, I argue that central governments’ inaction has pressured local governments to take action during the Syrian refugee influx. Relying on the influence of local government networks, the Municipality of Barcelona uses discourse as a tool of action in opening discursive spaces for humanitarian political responses to the refugee crisis. Using critical discourse analysis, I test this argument by examining in-depth interviews, speeches of people in power that have appeared in news articles, and statements on official websites.
Lewis, Tara; Teeter, Matt
The purpose of this policy analysis was to examine the Missouri Public School Retirement System (PSRS). The team investigated the under-funding of PSRS, relating to sustainability and the feasibility of the system's use of one lever, contribution rate, to stabilize the retirement system, and to meet actuary needs and governmental requirements. The…
... Organizations § 352.309 Retirement, health benefits, and group life insurance. (a) Agency action. An employee... entitled to retain coverage for retirement, health benefits, and group life insurance purposes if he or she... he or she wishes to retain coverage under the retirement, health benefits, and group life insurance...
Schalkle, B L; Dyrhaug, K J
The results of the Joneses' coordinated retirement income and estate planning strategies are as follows: 1. The Joneses maximized their estate assets by converting an inefficient estate asset (the qualified retirement plan) into an efficient estate asset (the income-tax-free death benefit) without jeopardizing their current or future standard of living or the value passed on to their heirs. This allows them to satisfy their conflicting objectives. 2. They added flexibility to their future family gifting plans by providing themselves a secure income for the rest of their lives. 3. They fulfilled their desire to protect their family against government confiscation of retirement plan assets in the event they both die before using all their qualified retirement assets. This private pension plan strategy is obviously not available to everyone, nor is it appropriate for everyone. This solution worked well for this client, but everyone's situation is unique. Before creating such a plan, it is important to review all the factors in an individual's financial picture, including financial and retirement objectives and investment risk tolerance. Although this is an innovative idea that may solve a pension dilemma, it should not be used in place of qualified retirement plans but, rather, used in conjunction with such a plan. The private pension plan does not work with all insurance products or all insurance companies. Choosing the right company and product for each client requires care and expertise.
Bereskie, Ty; Rodriguez, Manuel J.; Sadiq, Rehan
Drinking water management in Canada is complex, with a decentralized, three-tiered governance structure responsible for safe drinking water throughout the country. The current approach has been described as fragmented, leading to governance gaps, duplication of efforts, and an absence of accountability and enforcement. Although there have been no major waterborne disease outbreaks in Canada since 2001, a lack of performance improvement, especially in small drinking water systems, is evident. The World Health Organization water safety plan approach for drinking water management represents an alternative preventative management framework to the current conventional, reactive drinking water management strategies. This approach has seen successful implementation throughout the world and has the potential to address many of the issues with drinking water management in Canada. This paper presents a review and strengths-weaknesses-opportunities-threats analysis of drinking water management and governance in Canada at the federal, provincial/territorial, and municipal levels. Based on this analysis, a modified water safety plan (defined as the plan-do-check-act (PDCA)-WSP framework) is proposed, established from water safety plan recommendations and the principles of PDCA for continuous performance improvement. This proposed framework is designed to strengthen current drinking water management in Canada and is designed to fit within and incorporate the existing governance structure.
Bereskie, Ty; Rodriguez, Manuel J; Sadiq, Rehan
Drinking water management in Canada is complex, with a decentralized, three-tiered governance structure responsible for safe drinking water throughout the country. The current approach has been described as fragmented, leading to governance gaps, duplication of efforts, and an absence of accountability and enforcement. Although there have been no major waterborne disease outbreaks in Canada since 2001, a lack of performance improvement, especially in small drinking water systems, is evident. The World Health Organization water safety plan approach for drinking water management represents an alternative preventative management framework to the current conventional, reactive drinking water management strategies. This approach has seen successful implementation throughout the world and has the potential to address many of the issues with drinking water management in Canada. This paper presents a review and strengths-weaknesses-opportunities-threats analysis of drinking water management and governance in Canada at the federal, provincial/territorial, and municipal levels. Based on this analysis, a modified water safety plan (defined as the plan-do-check-act (PDCA)-WSP framework) is proposed, established from water safety plan recommendations and the principles of PDCA for continuous performance improvement. This proposed framework is designed to strengthen current drinking water management in Canada and is designed to fit within and incorporate the existing governance structure.
Lancee, Bram; Radl, Jonas
Although there are numerous studies on the role of social connections in early working life, research that examines how social connectedness matters in the later stages of a career is scarce. The present study analyzes to what extent social connectedness affects the timing of the transition from work to retirement. We draw on data from the German Socioeconomic Panel Study (GSOEP) from the years 1985-2009 (N = 10,225), and we apply techniques of event history analysis. Social connectedness includes social gatherings with friends, relatives, and neighbors (informal participation) as well as engagement in voluntary and civic associations and local politics (formal participation). The findings demonstrate that social connectedness matters for the transition from work to retirement, but its impact depends on the type of participation. Whereas informal participation results in earlier retirement, formal participation delays labor force withdrawal. The findings suggest a trade-off between informal participation and work in later life, which leads people with frequent social contacts to opt for early retirement. By contrast, the fact that formal participation is associated with postponed retirement points to employment benefits of volunteering and civic engagement among older workers.
Siegenthaler, J K; Brenner, A M
Older workers in the United States indicate that they would prefer flexible work arrangements rather than abrupt retirement, yet management has done very little to make this possible. A review of two bodies of literature from the late 1980s is presented: social science writings including sociological, gerontological, and economic literature, and business and management literature. There is a clash between the way jobs are traditionally scheduled and the needs of growing numbers of older workers. Workers continue to be subject to obstacles to phased retirement due to the structuring of health care and pension benefits, downsizing, organizational inflexibility, and "corporate culture." Thus, general views among social scientists regarding the desirability of flexible schedules toward retirement will not produce real changes unless management becomes committed to such changes and they are securely embedded in company policies.
Full Text Available Since the early 90s, Italy has undergone radical changes in the regulations of the public pension system aimed at mending its main drawbacks and improving sustainability in the long run. The reforms were intended to recover the national economy through a significant reduction of benefits by increasing, particularly for younger people, individual responsibility for the accumulation of retirement wealth. Adopting an enhanced version of the Theory of Planned Behavior (TPB, which includes affective reactions, the present paper aims to understand the factors influencing the intention to enroll in a private pension plan through the purchase of longevity annuity coverage on the part of young adults. A purposive sample of 7480 Italian people aged 25–35 participated in the survey. Collected data were analyzed adopting an ordinal logistic regression (OLR model. The findings confirm the predictive power of the TPB in the financial field of longevity annuity buying, show that anticipated affective reactions increase the predictive power of the TPB model, and reveal that the influence of the investigated constructs varies alongside people’s willingness to purchase. The outcomes provide useful recommendations to the policy maker and private companies to favor the adoption of wide-spread desired behaviors among citizenships.
Poore v. Simpson Paper Co., 2009 U.S. App. LEXIS 11170 (9th Cir. Or. May 21, 2009). To be able to sue under ERISA, retirement health plan participants need not show that their benefits are vested the same way pension benefits are vested; the rights to the benefits need not be fixed or unalterable, rather, the employee must have an entitlement to the benefits.
McDonald, Suzanne; O'Brien, Nicola; White, Martin; Sniehotta, Falko F
There are considerable inter-individual differences in the direction and degree of change in physical activity (PA) levels during the retirement transition. There is currently a limited theoretical understanding of how these differences can be explained. This study aimed to explore and compare perceptions about how theory-based factors influence PA change during the transition from employment to retirement among individuals approaching retirement and recently retired. Theory-based, one-to-one, semi-structured interviews were conducted with a purposive sample of 28 adults (15 retired) within 24 months of retirement. Participants were sampled to reflect a diverse range of socio-economic and occupational backgrounds. The interview was based on the 12 domains within the Theory Domain Framework and designed to elicit anticipated or experienced retirement-related changes in PA behaviour and perceived determinants. Interview transcripts were analysed using Framework analysis to explore intra- and inter-individual perceptions of how PA changes after retirement and the factors which may influence this change. The majority of participants perceived retirement to be related to an increase in PA levels. Four themes emerged from the data regarding factors perceived to influence changes in PA behaviour after retirement: (1) resources for PA; (2) structure of daily life in retirement; (3) opportunities for PA; and (4) transitional PA phases after retirement. Retirement is associated with a number of inter-related changes and opportunities which can have a positive or negative impact on PA behaviour. The influence of these factors does not appear to be static and may change over time. A number of different transitional phases may be experienced after leaving work and each phase may have a differential impact on PA behaviour. The findings of this qualitative study contribute to the theoretical understanding of PA change during the retirement transition. Each post-retirement PA
Bleidorn, Wiebke; Schwaba, Ted
We examined the course of self-esteem during the transition to retirement in a sample of 690 retirees (ages 51-81) and a propensity-score matched-comparison group of 515 nonretirees drawn from a nationally representative longitudinal study in the Netherlands. The average retiree decreased in self-esteem in the 5 years before retirement and remained stable in self-esteem in the 5 years following retirement. We also found significant individual differences in retirees' self-esteem trajectories but failed to identify moderators that may account for these individual differences. We discuss the implications of these results for theory and future research on life span self-esteem development. (PsycINFO Database Record (c) 2018 APA, all rights reserved).
The fifth pre-retirement seminar has been a great success. The various sessions covered questions relating to rules and regulations, as well as financial and health issues, health insurance, residence permits and the psychological aspects of retirement. You will no doubt have noticed that the car parks near the Main Building were particularly full last week. In fact it was almost impossible to find a parking spot. A prestigious speaker? A sensational lecture series? Nothing of the sort. It was all due to the pre-retirement seminar, the fifth of its kind since 1993, which never fails to be a success. 'We sent out a thousand invitations to CERN staff aged 55 and above and received 500 positive replies' says William Blair, who has been organising the seminars for the Human Resources (HR) Division for the last eight years in collaboration with the CERN Pensioners Association and the Staff Association. The Main Auditorium was not big enough to accommodate everyone and the discussions also had to be retransmitted l...
Perkiö-Mäkelä, Merja; Hirvonen, Maria
The aim of this paper is to present Finnish employees' opinions on continuing work until retirement pension and after the age of 63, and to find out if physical workload is related to these opinions. Altogether 39% of men and 40% of women had never had thoughts of early retirement, and 59% claimed (both men and women) that they would consider working beyond the age of 63. Own health (20%); financial gain such as salary and better pension (19%); meaningful, interesting and challenging work (15%); flexible working hours or part-time work (13%); lighter work load (13%); good work community (8%); and good work environment (6%) were stated as factors affecting the decision to continue working after the age of 63. Employees whose work involved low physical workload had less thoughts of early retirement and had considered continuing work after the age of 63 more often than those whose work involved high physical loads. Own health in particular was stated as a reason to consider continuing work by employees whose work was physically demanding.
... employee welfare benefit plan as defined in section 3(1) of the Act and § 2510.3-1; (b) A plan which is... Labor Regulations Relating to Labor (Continued) EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF LABOR MINIMUM STANDARDS FOR EMPLOYEE PENSION BENEFIT PLANS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY...
Angela Maria Alvarez
Full Text Available Our objective was to comprehend the retirement impact in individuals with Parkinson disease during active age. We conducted a qualitative study using as Methodological Reference the Theory Grounded on Data. We interviewed 30 people with Parkinson disease, from those six were retired during active age. The data collection was in September 2013 to April 2014 and analyzed through open coding, axial and selective techniques. From the analysis, four categories emerged: retirement and identity in Parkinson disease; the incompatibility between the desire and the capacity to work; disconnecting and facing reality; the unexpected from retirement. The results indicated that people face difficulties in the disability retirement process, and we identified the need for emotional accompaniment and preparation for this transition moment in a way to stimulate a productive living, even with Parkinson disease.
Marin-Urquiza, Adriana; Ferreira, José Pedro; Van Biesen, Debbie
Athletic identity (AI) has been suggested as a variable that can have an impact on the psychological health of the athletes upon retirement. The aim of this study was to provide more insight on the transition out of elite sport by assessing and comparing the extent of AI and self-esteem in an active group (AG) and a retired group (RG) of Paralympic athletes. Perceived stress and depressive symptoms were additionally assessed in the AG and RG, respectively. A non-probability sampling method was used to recruit active and retired Paralympic athletes (AG, n = 43; RG, n = 41, where 35 retired voluntarily and 6 retired involuntarily) with visual or physical impairments, from Dutch-, English-, Portuguese- and Spanish-speaking countries. Participants completed an electronic survey with questionnaires to assess the study variables mentioned above. Descriptive analysis, comparisons (Mann-Whitney U test and t-test) and Spearman's correlation coefficient were performed for the statistical analysis. Scores of AI were significantly lower in the RG (44.6 ± 9.6) compared to the AG (49.4 ± 8.9); t(82) = 2.36, p = .021, d = 0.51. No differences in self-esteem were found between RG and AG; however, within the RG, athletes who involuntarily retired (21 ± 7.1) had significantly lower self-esteem scores than those who retired voluntarily (25.2 ± 4.2); t(39) = 2.04, p = .049, d = 0.73. In conclusion, free choice upon retirement can positively influence the athletes' self-esteem, whereas a strong AI may negatively influence the retirement process, as it was positively correlated with depressive symptoms (ρ = .409, p = .008). These findings can have practical implications for sport psychologists to better support their athletes.
This study addresses the question of how retired people's self-image differs from that of working people, and what factors predict people's self-definition as professionals or retirees. Seven hundred ninety-two Swiss persons aged 58-70 (386 men, 406 women; 349 not retired, 443 retired) were asked to rate the importance of different…
Mike, Anissa; Jackson, Joshua J.; Oltmanns, Thomas F.
The current study examined the relationship between conscientiousness, work status, and volunteering utilizing two large samples, the St. Louis Personality and Aging Network (SPAN) and the Health and Retirement Study (HRS). It was hypothesized that conscientious adults who were retired would be more likely to volunteer because, after retirement, they gain a substantial amount of free time, while losing an outlet for their industrious and achievement-striving tendencies. Cross-sectional and lo...
Susan D. Kocher
Full Text Available Wildfire is a natural part of forested Mediterranean systems. As humans continue to live and build housing in these areas, wildfire is a constant threat to homes and lives. The goal of this paper is to describe aspects of land-use planning that are used to reduce wildfire risk in institutionally divergent regions; southern France and California. By reviewing relevant legislation and planning documents and conducting in person interviews with fire and planning professionals, we identify the institutions which participate in land use planning to reduce fire risk and the key laws and regulations that guide planning decisions. Our results indicate that France has a more centralized system for planning for fire, with national level entities heavily involved in local land use planning. California, on the other hand sees almost no federal oversite, and, while state law requires local plans to include wildfire risk, most fine grain decisions are left to local planners and decision makers. In both regions, however, we see a reliance on technical support provided from outside local jurisdictions. Increased coordination between local, regional, and national governments could improve land use planning in both locations.
This plan was produced to maximize highway safety and increase government and industry productivity through the application of Intelligent Transportation System/Commercial Vehicle Operations (ITS/CVO) technologies to support regulatory and enforcemen...
Following recommendation by the Standing Concertation Committee at its meeting on 2 December 2011 and approval by the Director-General, please note that: the Progressive Retirement Programme has been extended by one year, from 1 April 2012 until 31 March 2013; and the Part-Time Work as a Pre-retirement Measure has also been extended by one year, from 1 January 2012 until 31 December 2012. Further information is available from the following sites: https://cern.ch/admin-eguide/retraite/proc_prp.asp https://cern.ch/admin-eguide/retraite/proc_pTp.asp Tel. 73903 Human Resources Department
Following a recommendation by the Standing Concertation Committee at its meeting on 27 November 2014 and approval by the Director-General, please note that: the Progressive Retirement Programme has been extended by one year, from 1 April 2015 until 31 March 2016; the Scheme of Part-Time Work as a Pre-retirement Measure has also been extended by one year, from 1 January 2015 until 31 December 2015. Further information is available at the following sites: https://admin-eguide.web.cern.ch/node/447 https://admin-eguide.web.cern.ch/node/484 Human Resources Department Tel. 79257 / 73903
Kallestrup-Lamb, Malene; Kock, Anders Bredahl; Kristensen, Johannes Tang
This paper uses Danish register data to explain the retirement decision of workers in 1990 and 1998.Many variables might be conjectured to influence this decision such as demographic, socio-economic, financially and health related variables as well as all the same factors for the spouse in case t...... such as age, income, wealth and general health. We also point out themost important differences between these groups and explain why these might be present.......This paper uses Danish register data to explain the retirement decision of workers in 1990 and 1998.Many variables might be conjectured to influence this decision such as demographic, socio-economic, financially and health related variables as well as all the same factors for the spouse in case...
McMaster, Susan Marie
The purpose of this study is to apply best practices for succession planning to community colleges. Succession planning is relevant to management practices in community colleges because there is a surge in retirements in higher education from the "baby boomer" generation. Community colleges need to implement a succession plan to ensure…
Nexo, Mette Andersen; Borg, Vilhelm; Sejbaek, Camilla Sandal
BACKGROUND: Depression increases the risk of disability pension and represents a health related strain that pushes people out of the labour market. Although early voluntary retirement is an important alternative to disability pension, few studies have examined whether depressive symptoms incur...... early voluntary retirement. This study examined whether depressive symptoms and changes in depressive symptoms over time were associated with early retirement intentions. METHODS: We used a cross-sectional (n = 4041) and a prospective (n = 2444) population from a longitudinal study on employees...... of the Danish eldercare sector. Depressive symptoms were measured by the Major Depression Inventory and the impact of different levels of depressive symptoms (severe, moderately severe, moderate, mild and none) and changes in depressive symptoms (worsened, improved, unaffected) on early retirement intentions...
Background Early retirement due to disability is a public health and work environment problem that shortens working careers. Transition to disability retirement is based on ill-health, but working conditions are also of relevance. We examined the contributions of work arrangements, physical working conditions and psychosocial working conditions to subsequent disability retirement. Methods The data were derived from the Helsinki Health Study cohort on employees of the City of Helsinki, Finland. Information on working conditions was obtained from the baseline surveys conducted in 2000, 2001 and 2002. These data were linked with register data on disability retirement and their main diagnoses obtained from the Finnish Centre for Pensions. Follow up by the end of 2008 yielded 525 disability retirement events. The analysed data included 6525 participants and 525 disability retirement events. Hazard ratios (HR) and 95% confidence intervals (95% CI) were calculated from Cox regression analysis. Results Several working conditions showed own associations with disability retirement before adjustment. After adjustment for all working conditions, the primary risk factors for all-cause disability retirement were physical workload among women (HR 2.02, 95% CI 1.57-2.59) and men (HR 2.00, 95% CI 1.18-3.38), and low job control among women (HR 1.60, 95% CI 1.29-1.99). In addition, for disability retirement due to musculoskeletal causes, the risk factors were physical workload and low job control. For disability retirement due to mental causes the risk factors were computer work and low job control. Furthermore, occupational class was a risk factor for disability retirement due to all causes and musculoskeletal diseases. Conclusions Among various working conditions, those that are physically demanding and those that imply low job control are potential risk factors for disability retirement. Improving the physical working environment and enhancing control over one’s job is likely
In this paper we study consumption around the age of retirement. We consider a model where consumption and leisure are non-separable and retirement is endogenous. We consider the case where non-separabilities come from the existence of fixed costs to work. We show that the existence of unobserved...... heterogeneity related to these non-separabilities will lead to biases of the OLS estimators of structural parameters of demand systems conditioned on retirement. These estimates give bounds to the true fixed costs. We estimate the model with French data and compute the bounds of these structural parameters...
Full Text Available The subject of this study is focused on new migration tendencies of retired guest workers. This paper represents one part of a study conducted during 2014 in eastern Serbia and Vienna regarding life strategies of retired labor migrants. In domestic (Serbian social sciences this subject was neglected, but recently it has attracted global social scientific attention with an idea of interdisciplinary merge of migration and age studies. To the day, global literature has only covered retired migrant laborers return to their home countries, but recent studies show changes in migration tendencies of retired laborers of many different nationalities, who have spent their work age in Western Europe. These new migration patterns were called “oscillatory movement” or as a new, alternative “third option”. They are only a form of seasonal and circular migrations which present the most dominant fashion of modern migrant mobility in Europe. Therefore we wanted to see what is the situation with labor migrants from Serbia – do they return to Serbia once they retire or not, and what are their reasons for choosing to live on “two addresses”. [Projekat Ministarstva nauke Republike Srbije, br. 177035: Antropološko proučavanje Srbije – od kulturnog nasleđa do modernog društva
... treatment by a health care provider). (ii) Service members, active or retired, family members of either, or... requires investigation. (b) Determining who is a government employee is a matter of federal, not local, law... full-time active duty in a pay status, including soldiers: (i) Assigned to units performing active or...
Kalwij, Adriaan; Alessie, Rob; Knoef, Marike
The success of policies aimed at keeping older workers in employment until the statutory retirement age in part depends on the health of these workers. For this reason we examine to what extent pathways to statutory retirement other than employment are associated with adverse health conditions as
The Human Resources Department is organizing a Preparation for Retirement Seminar, which will take place on 18 and 21 October 2011 in the afternoon in the Main Auditorium and on 19 October and 15 and 16 November 2011 in the afternoon in the Council Chamber. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members under the age of 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to availability of places. Registration: In view of the number of people concerned, you are ...
The Human Resources Department is organizing a preparation for retirement seminar, which will take place on the afternoons of the 11, 13, 25 and 27 November 2009. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members below 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to availability of places. Registration: In view of the number of people concerned and the limited capacity of the main auditorium, you are requested to register in advance via ...
The Human Resources Department is organizing a preparation for retirement seminar, which will take place in the afternoons of 11, 13, 25 and 27 November 2009. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members below 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to the availability of places. Registration: In view of the number of people concerned and the limited capacity of the Main Auditorium, you are requested to register in advance via Ind...
The Human Resources Department is organizing a preparation for retirement seminar, which will take place on the afternoons of the 11, 13, 25 and 27 November 2009. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members below 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to the availability of places. Registration: In view of the number of people concerned and the limited capacity of the Main Auditorium, you are requested to register in advance ...
The Human Resources Department is organizing a preparation for retirement seminar, which will take place on the afternoons of the 11, 13, 25 and 27 November 2009. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members under the age of 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to the availability of places. Registration: In view of the number of people concerned and the limited capacity of the Main Auditorium, you are requested to register ...
The Human Resources Department is organizing a preparation for retirement seminar, which will take place on the afternoons of the 25 and 27 November 2009. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members under the age of 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to the availability of places. Registration: In view of the number of people concerned and the limited capacity of the Main Auditorium, you are requested to register in advance via Indico. &a...
The handbook is directed toward those federal agencies involved in providing direct field assistance to state and local governments in radiological emergency response planning. Its principal purpose is to optimize the effectiveness of this effort by specifying the functions of the following federal agencies: Nuclear Regulatory Commission, Environmental Protection Agency, Department of Energy, Department of Health, Education, and Welfare, Department of Transportation, Defense Civil Preparedness Agency, Federal Disaster Assistance Administration, and Federal Preparedness Agency
Richman, Judith A; Zlatoper, Kenneth W; Zackula Ehmke, Jennifer L; Rospenda, Kathleen M
This study assesses the degree to which sexual harassment (SH), generalized workplace abuse (GWA), and psychological workload (PWL) impact drinking behaviors in retirement. A mail survey was completed at four points in time by a cohort of 1654 employees initially drawn from a university workplace. Questionnaires assessed experiences of SH, GWA, PWL and drinking behaviors. Hypotheses were tested involving (1) the extent to which SH, GWA, and PWL experienced while working were associated with frequency and quantity of drinking in retirement, (2) the extent to which drinking levels of retirees differed from those of current employees experiencing similar stress levels, and (3) the extent to which gender moderated these relationships. Retirees reporting earlier stressful work environments report higher levels of alcohol consumption during retirement compared to those retirees reporting less stressful earlier work environments. Gender moderated these relationships. The findings of this study suggest that there may be a residual effect of workplace stress during retirement.
Full Text Available A certain segment of the Canadian population is at risk of being ill-prepared for retirement. These people will likely not have enough pension income when they retire to maintain their current lifestyle. It sounds like a problem that calls for urgent government action. Only, these people are not underprivileged or lowincome earners. They are middle- and higher-income earners who lack an employer-provided pension, but presumably have the capacity to save for retirement on their own. Whether we see the fact that many of them do not as a problem for government to solve depends entirely on our view of the role of government. This, ultimately, is what the current discussions about reforming the Canada Pension Plan, boil down to. The trend in the incomes of the elderly is generally positive: compared to the 1970s, retirees are living far more comfortably, with incomes overall showing no obvious signs of distress. And data show that Canadians earning low incomes will be able to largely maintain their current earnings upon retirement, relying on the Canada Pension Plan and other public supports. Those Canadians earning mid-range and higher incomes who also enjoy an employer-provided pension, such as public-service workers, are also well-positioned to be able to largely maintain their working-age lifestyles after retirement. Meanwhile, there is no obvious evidence that the number of workers with employment-related pensions will decline in the future; pension coverage among young workers has been increasing, as has the proportion of workers in the public sector. Expanding the CPP — whether it is using the plan recently proposed by P.E.I., the “wedge” proposal offered by economist Michael Wolfson, or simply doubling the maximum pensionable-earnings room allowed for CPP contributions — would have the largest impact on relatively comfortable workers who are not saving adequately for retirement. In effect, it would force them to save more. But that is
Y. Li (Yanwei); J.F.M. Koppenjan (Joop); S. Verweij (Stefan)
markdownabstractIn recent years, governing environmental conflicts concerning the planning, construction, and operation of urban facilities has increasingly become a challenge for Chinese local governments. Chinese governments seek adequate responses to deal with these conflicts, for instance by
Kocourek, D.; Pertold, Filip
Roč. 61, č. 5 (2011), s. 467-483 ISSN 0015-1920 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : early retirement * labor market participation * Czech Republic Subject RIV: AH - Economics Impact factor: 0.346, year: 2011 http://journal.fsv.cuni.cz/storage/1226_kocourek.pdf
Cremer, Helmuth; Lozachmeur, Jean-Marie; Pestieau, Pierre
Social insurance for the elderly is judged responsible for the widely observed trend towards early retirement. In a world of laissez-faire or in a first-best setting, there would be no such trend. However, when first-best instruments are not available, because health and productivity are not observable, the optimal social insurance policy may imply a distortion on the retirement decision. The main point we make is that while there is no doubt that retirement systems induce an excessive bias t...
This study aimed at examining occupational distribution of retired civil servants with particular reference to forestbased enterprises in Ibadan, Oyo State. Primary data was collected from 100 retired civil servants using structured questionnaires. The proportion of retired self employed workers in various sectors of the ...
Li, Yanwei; Koppenjan, Joop; Verweij, Stefan
In recent years, governing environmental conflicts concerning the planning, construction, and operation of urban facilities has increasingly become a challenge for Chinese local governments. Chinese governments seek adequate responses to deal with these conflicts, for instance by ignoring criticism
... maximum entry age (to permit a career to be completed by mandatory retirement age); (2) Early optional... barred from reemployment in any position except a primary position after age 60. Service by a reemployed... the Department of Homeland Security Appropriations Act, 2008. The Act provides early retirement and...
Azzara, Judith R.
A retired elementary principal who was actively tied to her community for decades explains how to put a positive spin on retirement. New retirees should treasure their gifts and talents, develop new ones, take advantage of travel opportunities, mentor a new principal, and/or go back to college. (MLH)
Over the past 3 decades, the base upon which Americans obtain income for retirement has become increasingly tied to fluctuations in the financial markets. Because Social Security provides a small percentage of pre-retirement income in retirement, most of the nation's workers need a supplement to Social Security. This study demonstrates the failure of the 401(k) system and advances a bold, but realistic, solution to America's crumbling retirement system: guaranteed retirement accounts (GRAs), a universal government program that supplements Social Security by providing guaranteed rates of return, by locking up balances until retirement, and by mandating annuities at retirement-with survivor's benefits. The GRA plan is compared to other proposals, including President Obama's, which aims to expand the voluntary, commercial, individually directed account-based system.
de Wind, Astrid; Geuskens, Goedele A; Ybema, Jan Fekke; Bongers, Paulien M; van der Beek, Allard J
OBJECTIVES: Determinants in the domains health, job characteristics, skills, and social and financial factors may influence early retirement through three central explanatory variables, namely, the ability, motivation, and opportunity to work. Based on the literature, we created the Early Retirement
Wind, A. de; Geuskens, G.A.; Ybema, J.F.; Bongers, P.M.; Beek, A.J. van der
Objectives Determinants in the domains health, job characteristics, skills, and social and financial factors may influence early retirement through three central explanatory variables, namely, the ability, motivation, and opportunity to work. Based on the literature, we created the Early Retirement
Dmitriy V. Manushin
Full Text Available Objective to assess the anticrisis plan of the RF Government of January 27 2015 to project them onto the anticrisis plan of the RF Government dated March 1 2016 to identify its problems and suggest measures for their solution. Methods abstractlogical. Results the modern Russian economy is facing severe challenges posed by the crisis in the economy Western sanctions and foreign policy of the country. The government aware of these problems for the second year in a row adopts and implements a program of anticrisis measures. Analysis of scientific literature reports of the government and supervisory bodies allowed to formulate conclusions on the low efficiency of the anticrisis plan of 27 January 2015. Most of the indicators have not been achieved in many areas the objectives and their implementation have been haphazard with immeasurable results and lack of accountability for results. Analysis of the structure of anticrisis measures of the Russian government for 2016 demonstrated the persistence of old problems and the emergence of new ones. The number of indicators increased while simultaneously funding reduced as well as the number of specialists engaged in substantive anticrisis measures. Inefficient structure of the anticrisis measures is identified where priority is given to inappropriate support of the regions and the domestic auto industry to the detriment of the social component as well as other problems. As a result the measures are proposed to address the identified problems in the anticrisis plans of the Russian Government dated 27.01.2015 and 01.03.2016. Scientific novelty the following basic steps are formulated to address the identified challenges to modernize the work of the crisis staff to specify the anticrisis measures developing a detailed mechanism for their implementation and indicators for assessing the effectiveness to increase the motivation of civil servants to increase the minimum wage to the subsistence minimum to grant
Lee, Ayoung; Cho, Joonmo
We examined the effects of the differences in the retirement sequence (i.e., who retires first between spouses) on satisfaction in Korea of patriarchal culture. Our empirical study demonstrates that households where men retired first had a much lower satisfaction than households where women retired first. In addition, men were found to show lower satisfaction than wives in both households where women retire first and the households where men retire first. Retirement sequence affecting their satisfaction at the point when only one of the spouses is retired continues to affect their satisfaction after both of them are retired. This means that the difference in the couple's retirement sequence has an ongoing effect on their later happiness. The analysis of the effect of a couple's retirement sequence on the satisfaction in their old life may be useful for improving an individual and couples' quality of life in countries with similar cultures.
Polvinen, A; Laaksonen, M; Gould, R; Lahelma, E; Leinonen, T; Martikainen, P
Socioeconomic inequalities in both disability retirement and mortality are large. The aim of this study was to examine socioeconomic differences in cause-specific mortality after disability retirement due to different diseases. We used administrative register data from various sources linked together by Statistics Finland and included an 11% sample of the Finnish population between the years 1987 and 2007. The data also include an 80% oversample of the deceased during the follow-up. The study included men and women aged 30-64 years at baseline and those who turned 30 during the follow-up. We used Cox regression analysis to examine socioeconomic differences in mortality after disability retirement. Socioeconomic differences in mortality after disability retirement were smaller than in the population in general. However, manual workers had a higher risk of mortality than upper non-manual employees after disability retirement due to mental disorders and cardiovascular diseases, and among men also diseases of the nervous system. After all-cause disability retirement, manual workers ran a higher risk of cardiovascular and alcohol-related death. However, among men who retired due to mental disorders or cardiovascular diseases, differences in social class were found for all causes of death examined. For women, an opposite socioeconomic gradient in mortality after disability retirement from neoplasms was found. Conclusions: The disability retirement process leads to smaller socioeconomic differences in mortality compared with those generally found in the population. This suggests that the disability retirement system is likely to accurately identify chronic health problems with regard to socioeconomic status. © 2014 the Nordic Societies of Public Health.
Kallestrup-Lamb, Malene; Kock, Anders Bredahl; Kristensen, Johannes Tang
This article uses Danish register data to explain the retirement decision of workers in 1990 and 1998. Many variables might be conjectured to influence this decision such as demographic, socioeconomic, financial, and health related variables as well as all the same factors for the spouse in case ...... that this is the case for core variables such as age, income, wealth, and general health. We also point out the most important differences between these groups and explain why these might be present.......This article uses Danish register data to explain the retirement decision of workers in 1990 and 1998. Many variables might be conjectured to influence this decision such as demographic, socioeconomic, financial, and health related variables as well as all the same factors for the spouse in case...
Following a recommendation by the Standing Concertation Commitee at its meeting on 4 December 2012 and approval by the Director-General, please note that: the Progressive Retirement Programme has been extended by one year, from 1 April 2013 until 31 March 2014; and the Scheme of Part-Time Work as a Pre-retirement Measure has also been extended by one year, from 1 January 2013 until 31 December 2013. Further information is available from the following sites: https://cern.ch/admin-eguide/retraite/proc_prp_fr.asp https://cern.ch/admin-eguide/retraite/proc_pTp_fr.asp Human Resources Department Tel. 73903
Following a recommendation by the Standing Concertation Commitee at its meeting on 5 December 2013 and approval by the Director-General, please note that: the Progressive Retirement Programme has been extended by one year, from 1 April 2014 until 31 March 2015; the Scheme of Part-Time Work as a Pre-retirement Measure has also been extended by one year, from 1 January 2014 until 31 December 2014. Further information is available from the following sites: https://cern.ch/admin-eguide/retraite/proc_prp_fr.asp https://cern.ch/admin-eguide/retraite/proc_pTp_fr.asp Human Resources Department Tel. 79257/ 73903
... incapable of making a decision to file an application for disability retirement; (4) The employee has no... must inform the employee in writing at the same time it informs the employee of its removal decision... disability retirement applications. (a) Basis for filing an application for an employee. An agency must file...
These choices may also pose a threat to a member's financial wellbeing in retirement. Behavioural economics and finance helps to explain the choices made by these stakeholders in the retirement industry. The authors explain this concept in the context of industry stakeholders and the unique South African economic and ...
Purcell, James; McGill, Robin; Brodeur, Philip; Hall, Erin
The relationship between employer and employee has changed significantly over the past 40 years. One of the greatest changes in this relationship is in the nature of employee retirement. While pension reform at public and private colleges has helped ensure institutional financial viability, retirement security for employees has declined. With the…
"Some governments and not-for-profit organizations such as hospitals are beginning to look at data grid technology as a means to improve servies, lower operating costs and spur economic development." (1 page)
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false What pension benefit plans are covered under... REEMPLOYMENT RIGHTS ACT OF 1994 Reemployment Rights and Benefits Pension Plan Benefits § 1002.260 What pension...) defines an employee pension benefit plan as a plan that provides retirement income to employees, or defers...
Plan-for-Gov[IT] - Planning for Governance of IT Method: use of the Techniques of "Text Retrieval" for mapping the expected support needs from IT Area to serve of the Corporation's Core-Business expectations
Altino José Mentzingen De Moraes
Full Text Available The IT - Information Technology, in accordance with the philosophy of the IT Governance (and also as defined by Authors listed as follows requires its integration to the process of Strategic Planning of its Corporation, with the intention to align its actions with the Core-Business aiming at to reach the expected results by the IT Area. The question is how the IT can, under a methodological and direct way, to know how to interpret the expectations expressed by the Strategic Planning (a component of the Corporative Governance, in actions that are addressed to its Area in a practical manner and with an adequate tool kit related to the Frameworks (Models focused to the implementation of the IT Governance, for posterior creation of the necessary Effectiveness Indicators for monitoring about success level of the actions of IT in alignment with the Business. The result of this work is the proposal of the Text Retrieval and its subsequent validation (as a plausible resource for actual use to try to help the Governance of IT in its primary task of assisting the Corporation Core-Business, which was named as Plan-for- Gov[IT] - Planning for Governance of IT Method, which can be automated by the use of resources of "word finding" in Word Processors or in another software products with also this purpose.
This paper investigates the determinants of older workers’ early retirement behavior in Denmark. Instead of considering dual retirement we recognize the importance of the spouse in the early retirement decision by assessing the effect of a rich number of spousal variables. Given the grouped nature...... of the data we set up a semi-parametric single risk grouped duration proportional hazard model accounting for right censoring and allows for time-varying covariates, a nonparametric baseline and unobserved heterogeneity. We find that spousal characteristics do influence the retirement decision and significant...
Many Nigerian workers are scared at the mention of the word retirement. This is because of the unpleasant experiences of the past retirees in terms of the delay and difficulties encountered in getting their retirement benefits – gratuity and pension. Unfortunately, some retirees have died out of frustration and in abject poverty ...
Schofield Deborah J
Full Text Available Abstract Background The nursing population in Australia is ageing. However, there is little information on the rate and timing of nursing retirement. Methods Specifically designed health workforce extracts from the Australian Bureau of Statistics (ABS censuses from 1986 to 2001 are used to estimate the rate of nursing retirement. The 2001 nursing data are then "aged" and retirement of the nursing workforce projected through to 2026. ABS population projections are used to examine the future age structure of the population and the growth and age distribution of the pool of labour from which future nurses will be drawn. Results Attrition rates for nurses aged 45 and over are projected to be significantly higher between the base year of 2006 and 2026, than they were between 1986 and 2001 (p Between 2006 and 2026 the growth in the labour force aged 20 to 64 is projected to slow from 7.5 per cent every five years to about 2 per cent, and over half of that growth will be in the 50 to 64 year age group. Over this period Australia is projected to lose almost 60 per cent of the current nursing workforce to retirement, an average of 14 per cent of the nursing workforce every five years and a total of about 90,000 nurses. Conclusion The next 20 years will see a large number of nursing vacancies due to retirement, with ageing already impacting on the structure of the nursing workforce. Retirement income policies are likely to be a key driver in the retirement rate of nurses, with some recent changes in Australia having some potential to slow retirement of nurses before the age of 60 years. However, if current trends continue, Australia can expect to have substantially fewer nurses than it needs in 2026.
Full Text Available This article aims: (i to present work relations that emerged from the process of flexibility labour markets in the 90 and the distinction between the processes of flexibility, deregulation and news precarious labor relations, understood by most authors as part of the neoliberal reforms of the last decades of the twentieth century. This distinction is necessary because, in Brazil, labor relations are rigidly regulated since the promulgation of the Consolidation of Labor Laws in 1943 and have always been precarious; (ii to present social security reforms undertaken by governments Fernando Henrique Cardoso and Luiz Inácio Lula da Silva and the new reform bill and its impact on the calculation of the value of retirement in the context of the changes of working conditions that made new labor relations.
Background Interest in the impact of burnout on physicians has been growing because of the possible burden this may have on health care systems. The objective of this study is to estimate the cost of burnout on early retirement and reduction in clinical hours of practicing physicians in Canada. Methods Using an economic model, the costs related to early retirement and reduction in clinical hours of physicians were compared for those who were experiencing burnout against a scenario in which they did not experience burnout. The January 2012 Canadian Medical Association Masterfile was used to determine the number of practicing physicians. Transition probabilities were estimated using 2007–2008 Canadian Physician Health Survey and 2007 National Physician Survey data. Adjustments were also applied to outcome estimates based on ratio of actual to planned retirement and reduction in clinical hours. Results The total cost of burnout for all physicians practicing in Canada is estimated to be $213.1 million ($185.2 million due to early retirement and $27.9 million due to reduced clinical hours). Family physicians accounted for 58.8% of the burnout costs, followed by surgeons for 24.6% and other specialists for 16.6%. Conclusion The cost of burnout associated with early retirement and reduction in clinical hours is substantial and a significant proportion of practicing physicians experience symptoms of burnout. As health systems struggle with human resource shortages and expanding waiting times, this estimate sheds light on the extent to which the burden could be potentially decreased through prevention and promotion activities to address burnout among physicians. PMID:24927847
Meng, Annette; Nexø, Mette Andersen; Borg, Vilhelm
BACKGROUND: Knowledge on factors affecting the rate of cognitive decline and how to maintain cognitive functioning in old age becomes increasingly relevant. The purpose of the current study was to systematically review the evidence for the impact of retirement on cognitive functioning and on age...... related cognitive decline. METHOD: We conducted a systematic literature review, following the principles of the PRISMA statement, of longitudinal studies on the association between retirement and cognition. RESULTS: Only seven studies fulfilled the inclusion criteria. We found weak evidence...... that retirement accelerates the rate of cognitive decline in crystallised abilities, but only for individuals retiring from jobs high in complexity with people. The evidence of the impact of retirement on the rate of decline in fluid cognitive abilities is conflicting. CONCLUSION: The review revealed a major...
...), Roth IRAs, and the Uniformed Services Thrift Savings Plan (TSP). This project concentrates on both long-term and short-term investments by exploiting the combination of two types of investment methods...
This paper estimates the causal impact of retirement on the Body Mass Index (BMI) of adults aged 50-69 years old, on the probability of being either overweight or obese and on the probability of being obese. Based on the 2004, 2006 and 2010-2011 waves of the Survey of Health, Ageing and Retirement
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Retirement in event of default. 615.5280... Dividends § 615.5280 Retirement in event of default. (a) When the debt of a holder of eligible borrower... association or agricultural credit association is in default, such institution may, but shall not be required...
van den Bogaard, L.; Henkens, K.; Kalmijn, M.
Retirement is an event that often brings about great changes in a person's personal and social life. For many people, work is not only a way to fill time and earn money, but also important for their identity and meaning in life. After retirement, these benefits of work are lost, and it is expected
van den Bogaard, L.; Henkens, K.; Kalmijn, M.
Retirement is an event that often brings about great changes in a person’s personal and social life. For many people, work is not only a way to fill time and earn money, but also important for their identity and meaning in life. After retirement, these benefits of work are lost, and it is expected
Newcamp, J.M.; Verhagen, W.J.C.; Udluft, H.; Curran, Ricky
This article presents a retirement analysis model for aircraft fleets. By employing a greedy algorithm, the presented solution is capable of identifying individually weak assets in a fleet of aircraft with inhomogeneous historical utilization. The model forecasts future retirement scenarios
... System; Opportunity for Annuitants to Elect Survivor Annuity Benefits for Same-Sex Spouses AGENCY: Office... survivor annuities for their spouses under the Civil Service Retirement System (CSRS) and Federal Employees... survivor annuities for their spouses based on their recognized marital status. FOR FURTHER INFORMATION...
Estelle James; Alejandra Cox Edwards
Postponing retirement will become increasingly important as a means to increase the labor force, its output and old age security, as populations age. Recent research has focused on incentives stemming from the social security system that influence the worker’s decision to retire. Defined benefit systems (both public and private) often contain penalties for postponing access to pensions or continuing to work while receiving a pension. In contrast, the tight link between contributions and accum...
majority of officers are male. Data for life expectancies were extrapolated from the DOD Office of the Actuary Life Expectancy Rate. This rate was...All the data for annuity payments were based on the DOD Office of the Actuary Statistical Report on the Military Retirement System Fiscal Year 2013...represent the possible payouts at a certain YOS and rank. Information on estimated age of retirement and estimated life expectancy based on DOD actuary
Smith, T O; de Medici, A; Oduoza, U; Hakim, A; Paton, B; Retter, G; Haddad, F S; Macgregor, A
To explore the musculoskeletal health of retired professional ballet dancers in the United Kingdom (UK). Online national survey. Retired professional ballet dancers living in the UK. The survey explored: what musculoskeletal injuries or diseases are experienced by retired professional ballet dancers; which anatomical regions were affected by musculoskeletal injuries or diseases in retired professional ballet dancers; whether ballet dancers were forced to retire from professional ballet due to musculoskeletal injuries or disease. Forty-six retired ballet dancers responded. Thirty-six percent (n = 17) of respondents reported retiring from ballet due to musculoskeletal injury. The median age when respondents retired from professional ballet was 29 years. The most common issues that caused people to retire were hip and back pain (25%; n = 9 respectively), followed by hamstring injuries, ankle injuries, cervical spine injuries, and anterior knee pain (13% respectively; n = 5). Ninety-one percent (n = 42) reported experiencing muscle and joint pain post-retirement. Musculoskeletal pain and disease was a problem for respondents in this study. Further investigation is needed to define the problem, so management can be examined. Comparing performance and training regimes to injury rates in professional dancers, and then following these cohorts into retirement, would increase knowledge on this population. Copyright © 2016 Elsevier Ltd. All rights reserved.
... fide plan for providing old age, retirement, life, accident, or health insurance or similar benefits... employee on account of severance of employment (or for any other reason) would not result in any increase... mechanics performing contract work subject to the Davis-Bacon Act and related statutes, the provisions of...
The Human Resources Department is organizing a Preparation for Retirement Seminar, which will take place on 18 and 21 October 2011 in the afternoon in the Main Auditorium and on 19 October and 15 and 16 November 2011 in the afternoon in the Council Chamber. Similar seminars in the past have always proved highly successful. Retirement marks the end of a person’s working life and the start of a new chapter. This period of transition is experienced differently from one individual to another. In all cases, being well-informed and prepared greatly facilitates the change in lifestyle. We would like to draw your attention to the following information: Staff concerned: All staff members aged 58 and above have been sent a personal invitation to attend. Spouses are welcome. Staff members under the age of 58 who are interested in attending the seminar may also apply. Their applications will be accepted subject to availability of places. Registration: In view of the number of people concerned, you are r...
On 11 May a new web-based phonebook will take over from the 16-year old XWHO directory. It will provide access to basic contact information for people and services at CERN. A user-friendly interface will allow you to look for people and services using criteria such as first or last name, organisational unit and phone number. All requests submitted to the retired XWHO directory will be redirected to the new phonebook. The new CERN Phonebook's user interface. CERN’s first electronic phonebook was created in 1995. The XWHO directory was first presented in July that year in a CERN Computer Newsletter (CNL) article entitled “Migrating the access to central directory services” by Miguel Marquina and Bernd Pollermann. Since then, it has been used by thousands of people at CERN and around the world looking for contact details of other members of the Organization. The XWHO directory is now retiring and is to be replaced by the new web-based CERN Phonebook. For several month...
Davies, Eleanor M.M.; Dhingra, Katie; Stephenson, John
Purpose – The focus of this study is on line managers’ attitudes towards their management\\ud role in respect of employee retirement. This study has two main aims. Firstly, it explores line\\ud managers’ perspectives regarding retirement management (RM): their perceived\\ud responsibility for RM, the training they have received and the degree of decision latitude they\\ud experience in RM. Secondly, the study examines the factors that affect the extent to which\\ud line managers’ perceive it to be...
van der Zwan, N.
As in other European countries, the introduction of more freedom of choice in the pension system has been hotly debated in the Netherlands. Much of the debate has focused on the contents of pension plans, such as flexibility in retirement age, benefits levels and investment options. A second
de Belvis, A G; Biasco, A; Pelone, F; Romaniello, A; De Micco, F; Volpe, M; Ricciardi, W
The objective of our research is to report on the diffusion of Clinical Governance, as introduced with the National Health Plan 2006-2008, by analysing the planning instruments set up by each Region (Regional Health Plans and Emergency Plans in regions with budget deficit), the organizational frameworks (Atti Aziendali, firm acts), and the surveys on performance and quality of healthcare among the Italian Local Health Units (Health Surveys). Our research was realized on September-December 2007 and consisted of the collection of all retrieved documents available on the web and on the online public access catalog (OPAC SBN) of the National Library Service. Futhermore, each document has been classified and analysed according to Chambers' Clinical Governance definition. A descriptive statistical and inferential analysis by applying the Chi-2 Test was performed to test the correlation between the diffusion of such a classified documents and the geographical partition of each LHU. Our results show a scarce diffusion of Firm acts (43%) and Health Surveys (24.9% of the total). Any remind to Clinical Governance instruments and methods inside each document resulted even poorer among both the organizational and performance surveys and the regional health planning frameworks, respectively.
Myllyntausta, Saana; Salo, Paula; Kronholm, Erkki; Aalto, Ville; Kivimäki, Mika; Vahtera, Jussi; Stenholm, Sari
This study examined whether sleep duration changes during the transition from full-time work to statutory retirement and, if this were the case, which preretirement factors, including sociodemographic, work, lifestyle, and health factors, predict these changes. Data from repeated surveys of the Finnish Public Sector study, linked to records of retirement, were used. The study population consisted of 5785 participants who retired on a statutory basis in 2000-2011 and who had responded to surveys on sleep duration at least once immediately before and after their retirement (mean number of repeat study waves 3.6). Linear regression analyses with generalized estimating equations were used to examine changes in sleep duration around retirement. Before retirement there was a slight decrease in sleep duration. During the 4-year retirement transition, sleep duration increased from 7 hours 0 minutes (95% confidence interval [CI] 6 hours 54 minutes to 7 hours 6 minutes) to 7 hours and 22 minutes (95% CI 7 hours 16 minutes to 7 hours 27 minutes); thus, mean increase being 22 minutes. Increase in sleep duration was greatest in those who were short sleepers, heavy drinkers, or had sleep difficulties. After the retirement transition, sleep duration remained at approximately the same level, as no significant changes were observed. This longitudinal study suggests that transition from full-time work to statutory retirement is associated with an increase in sleep duration. © Sleep Research Society 2017. Published by Oxford University Press on behalf of the Sleep Research Society. All rights reserved. For permissions, please e-mail firstname.lastname@example.org.