[Excerpt] The findings we report above have implications for both institutions and their faculty members. In some states, rapidly growing college age cohorts will require academic institutions to hire large numbers of new faculty in the years ahead to fill positions created to meet the expanding demand for enrollments. Nationally, institutions will have to replace a large number of retiring faculty members in the years ahead. This suggests that most institutions’ concern in upcoming years will not be how to encourage their faculty members to retire. Rather, their concern will be how to continue to draw on the skills of faculty nearing retirement ages to provide stability to their institutions during a time of rapid change.
In the years ahead, it is likely that more and more institutions will consider developing programs to permit phased retirements, or to encourage retired faculty to teach part-time, as a way of meeting their teaching needs. Similarly, faculty groups at institutions may well want to contrast the regular retirement programs, retirement incentive programs, and programs relating to emeritus faculty that their institutions offer with the programs that we indicate are being offered at other institutions and use this information in discussion with their administrations.