The Diverse Retirement Age of Professors in the USA

There is no universal retirement age for professors in the United States. The retirement age can vary significantly based on the institution and the state in which the university operates. Many universities have set a mandatory retirement age around 65 to 70, although this practice is becoming less common due to the Age Discrimination in Employment Act (ADEA).

The ADEA prohibits forced retirement based on age for most employees, including professors, unless specific conditions apply. However, mandatory retirement remains legal under the act if the retiree is 65 and holds a 'bona fide' policymaking position or a 'bona fide' position for which the ability to obtain and retain securities is essential. These exceptions make age-based mandatory retirement less common, but certain institutions may still use them for particular roles.

Flexible Retirement Options

Professors can choose to retire earlier or later based on personal circumstances, financial readiness, and institutional policies. Some institutions offer phased retirement options, allowing faculty to reduce their workload gradually before fully retiring. This flexible approach enables professors to transition out of their positions over a period that suits them best.

The Long-Term Commitment of Educators

Actuarial studies suggest that higher education teachers tend to stay in their fields much longer than most other professions. They have a variety of career paths open to them at any stage in their lives, allowing them to choose the best fit at any given time. Professors can teach, conduct research, advise, become visiting educators, take administrative positions, or engage in private sector advisory work. This variability keeps them perpetually interested in their field.

The longest serving member of STRS Ohio that I remember retired in his mid-90s, with 56 years of service credit. He was clearly enjoying his work; a 100% pension starts around 45 years of service credit. The ratio of age to service credit suggests he was part-time for at least part of his career. At that age, he probably did not retire but withdrew his contributions rather than accepting a lifetime monthly payment.

Eligibility and Guidelines

Many schools follow guidelines similar to the state system in California, where to be eligible to retire through CalSTRS, a member must be at least 55 years old and vested with at least five years of service credit or be eligible to retire concurrently with another California public retirement system. However, few people are able to retire at 55, and if they only have five years of service credit, their pension would be minimal.

Typically, professors retire somewhere in their late 60s or early 70s. Those who become professors often start their full-time careers relatively late and have never made a huge amount of money, so they may need to keep working to build their savings. Many professors enjoy their work and want to continue working into their 70s if they can. While it is demanding work, it is not physically taxing, such as ditch-digging or even mail delivery, allowing those with sharp minds to keep going.

The transition to online teaching may have forced a few professors to retire early this year. Some found it challenging to adapt to new technologies and methodologies required for online education.

For more information on mandatory retirement and its legal aspects, you can refer to the ESEB-DC guidelines and the Equal Employment Opportunity Commission (EEOC) guidelines. Understanding these laws and guidelines can help you navigate the complex world of professor retirement.