Retirement Savings Behavior of Higher Education Employees

Higher education employees often participate in university-sponsored defined contribution pension plans that place the investment decision responsibility upon them. In order to examine investment decision-making behavior with retirement savings plans we investigated attitude-mediated, individual difference determinants of risky decision-making behavior in employer-sponsored defined contribution retirement plans. Using a field survey of 795 higher education employees, who participated in one of four defined contribution savings plans, we tested a risk taking model using data on the employees’ investment allocations in their defined contribution savings plan. We found that an attitudinal preference toward risk and a perception of opportunity served as mediators for the relationships among employees’ dispositional characteristics and their retirement savings behavior. We also found that investment knowledge directly affected risk taking behavior. Implications of the results for higher education institutions are discussed. Funding for this study was provided by TIAA-CREF and is gratefully acknowledged by the authors.     

Knowing when to Retire: The First Step Towards Financial Planning in Malaysia

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 significant contribution to financial planning preparation as well as personal orientation towards retirement planning, particularly the younger age cohort. There is an effect on personal orientation towards retirement planning. No significant effect was found between expected retirement age cohort and current financial resources, but older age cohorts were relatively more significant predictors.     

GENDER COMPARISONS OF BABY BOOMERS AND FINANCIAL PREPARATION FOR RETIREMENT

This study compared men and women, focusing on three middle‐year age groups incorporating the baby boomers, in relation to the level of savings for retirement and the number of savings vehicles utilized. The research tapped into a study conducted by the National Center for Women and Retirement Research. Usable responses were received from 1,287 persons, 872 females and 415 males. Multiple linear regression identified certain personal characteristics, economic factors, psy‐chosocial factors, attitudes, and investing methods that appeared to be related to the level of savings for retirement. Certain personal characteristics, economics, and psychosocial factors were identified for the investments used. The identified factors were true for both genders, thus a profile of the person most likely to have a higher level of savings for retirement and likely to own investments emerged. The males best fit the savings and investing profiles. Neither gender was saving adequately for retirement or taking full advantage of portfolio diversification, with women the lowest. Recommendations are made, based on the findings, for educators, financial institutions and advisors, employers, and policy makers.     

基于资产负债管理的我国企业年金资产配置研究

从生命周期的角度看,企业年金资产是一个将收入在消费与投资（储蓄）之间进行分配,对投资（储蓄）在风险资产与无风险资产之间加以选择的两个层次的动态跨期最优化问题。长期投资中,许多资产的风险收益特征会发生显著变异。因此,建立一套适合企业年金长期投资的资产配置决策框架是一个极其迫切的实践问题。本文基于资产负债管理思想,在企业年金投资限制的框架内,充分考虑了养老金受益人的风险厌恶程度,给出了一个基于资产负债管理的企业年金资产配置最优化模型,并提出了提高企业年金投资管理效率的措施。     

延迟退休与否对我国养老保险制度影响的初步研究

近十年来,世界各国掀起了退休制度改革的浪潮,一些发达国家的退休年龄也进行了延迟。由于我国的国情以及与国外在养老保险制度方面有关退休年龄制定上的差别等原因,造成了从年轻人就业状况、从企业经营者以及从生活负担较重人群等角度的对延迟退休的反对观点;也产生了从我国劳动力资源利用程度、从实际的养老金收益以及从老年人的工作延长是否对年轻人就业造成压力等角度对延迟退休的赞成观点。对以上各种观点进行比较,借鉴国外改革方法,建议我国在出台延迟退休政策时,应考虑不同行业、不同工种的具体情况予以区别对待;制定退休年龄范围,不同年龄享受不同养老金待遇。此外,政府应加大相关政策知识普及。     

Changes with age in measures of processing efficiency.

Children of 3 ages (8, 10, and 12 years) and adults were asked to decide rapidly whether 2 line drawings were same or different based on either physical appearance (physical match) or name information (name match). Reaction times were used to estimate several temporal measures of information-processing efficiency, such as the difference between different and same judgments, the difference between name-match and physical-match judgments, and 2 types of interference. Different judgments required more time than same judgments for children but not for adults, and the difference between these decreased with age. As expected, name judgments required more time than physical judgments, but the difference did not decrease regularly with age. Interference in name-match decisions due to conflicting and irrelevant physical information decreased with age; however, interference in physical-match judgments due to conflicting and irrelevant name information does not decline with age and was a significant factor in the performance of older children and adults. The results underscore the complex character of developmental change in processing efficiency.     

Baby boomers’ retirement decision and adaptation in Taiwan: older adult learners’ experiences

ABSTRACT

Baby boomers in Taiwan benefit from better health, economic conditions, and education in comparison to older generations. The participants in this study were older adult learners from the baby boom generation. This study aimed to examine their retirement decisions, adaptation, and learning processes. A qualitative research approach was employed in this study. Data were collected via semi-structured interviews. Thirty-one individuals, consisting of 15 men and 16 women aged 55–68 years, were interviewed. The research results showed that the interviewees’ retirement decisions involved an awareness of retirement timing, and in addition, four approaches to retirement decisions were identified, namely, straightforward decision making, retirement planning, hesitancy, and involuntary retirement. Each decision approach would lead to various losses and gains. The background of baby boomers provided them with high adaptability and the motivation to learn and change. The retirement adaptation process presented goals related to health, learning, and contributions. Learning participation and service learning allowed the interviewed baby boomers to feel joy from learning, forget about their age, and maintain positive attitudes. The results of this study can provide workers engaged in the field of older adult education with a reference for the formulation of policies and projects related to retirement transition and learning.     

Tales out of school: Tracing perspective change through the stories of former teachers

Most public school teachers in the United States now leave the classroom before reaching retirement. This study examined the accounts of certified, experienced teachers who left teaching after making significant investments in the career in order to better understand their exit decisions. Anecdotes told by these invested leavers as they described their career were examined through a narrative lens. The analysis indicated a shift in perspective: as the teachers moved through their career, the primary sources of frustration for these former teachers switched from students to adults.     

Age Differences in Choice Deferrals as Functions of Interattribute Conflict and Decision Domain

The primary purpose of the present study was to examine age differences in choice deferral when young and older adults make high vs. low conflict decisions in two domains (i.e., health and commodity). Sixty young and 60 older adults were presented with four different decision scenarios in which they could either choose an option or use choice deferral (i.e., not choose any of the options for the time being). The high conflict decisions had negative interattribute correlations, while the low conflict decisions had positive interattribute correlations. Older adults were more likely than young adults to choose the deferral option across domains. Participants were more likely to choose the deferral option when making high conflict decisions than when making low conflict decisions. For older adults, an increase in postdecision positive affect was greater for those who deferred choice than for those who did not defer choice in the commodity domain. Implications were discussed in terms of real-life decision making of older adults.     

关于金融资产中会计科目合并的思考

将＂可供出售金融资产＂和＂交易性金融资产＂会计科目合并,有利于避免企业会计准则设计上的漏洞,有利于投资人的投资决策和会计人员的账务处理,有利于会计信息使用者对会计信息的阅读和理解.     

关于投资性房地产的会计核算

会计准则第3号——投资性房地产是新增会计准则,但其内容并非全新的.通过从投资性房地产的确认、计量、房地产转换和处置方面介绍投资性房地产的核算全过程,旨在帮助财会人员在全面了解该准则规定的投资性房地产核算与以前会计实务和会计制度规定的差别的基础上,正确进行投资房地产相关业务的核算.有利于提高会计信息的相关性,从而更好的为会计信息使用者做出决策提供依据.     

高校信息技术应用成本—效益评估模型建构与分析

高校信息技术应用的成本—效益评估理论研究相对滞后于其实践,一直没有一个将成本与效益两方面集成在一起的评估模型为高校提供决策依据。针对这一问题,文章建构了高校信息技术应用的成本—效益评估模型,并从务实角度提出具有操作性的应用步骤,期望帮助高校做出正确的投资决策,推动教育信息化进程的不断深入。     

Persisters and nonpersisters: Identifying the characteristics of who stays and who leaves from adult literacy interventions

Adult literacy programs are characterized by high attrition rates. Rigorous exploration of student persistence in adult reading classes is lacking. This study was an attempt to understand the profiles of adults who completed reading classes compared to a group of adults who made it to the midpoint and a group of adults who did not make it to the midpoint. Students were offered 100 h of instruction. Of the 395 students who attended the first day of class, only 198 completed the program. Results indicated that English language status, age, some reading related skills, class assignment, avoidance of reading, previous adult education experience, and Women, Infants, and Children (WIC) benefit receipt variables significantly predicted persistence. The significance of some of these predictors varied based on analyzing midpoint completion or full completion. To further explore the characteristics of the sample, the most representative participants were selected from the group that did not make it to midpoint and from the group that completed the program. Results indicated that the most representative members of these two groups differed in English language status, gender, age, some reading related skills, and information access.     

What’s on your bucket list? Utility and importance of the retirement preferences of 40–70-year-old Filipino teachers using discrete choice estimation

ABSTRACT

The transition from a busy work life to a retired state entails a lot of adjustment, planning, and wise decision-making. While there have been numerous studies that elucidate retirement issues across the globe, the need to know about retirement preferences of middle-aged and older teachers remains a blank spot in the literature, hence this discrete choice estimation investigation. The overall purpose of this study is to explicate the utility and importance of retirement preferences of a select group of 40–70 year-old teachers (n = 152) from the northern part of the Philippines. Using the Statistical Package for the Social Sciences (SPSS) version 21, a set of 12 choice bundles with 4 holdouts were extracted from a pool 96 orthogonal array. Respondents were asked to sort and rank each card based on its importance and utility value using the Balanced Incomplete Block Design (BIBD). Results indicate that the most important attribute considered by Filipino teachers relative to their retirement preferences was investment. This was followed by pursuit of an old interest, travel, and part-time job as the least preferred. This utility study yielded empirical data that can be benchmarked by retirement planning policy makers in the academic setting to better address the uncertainty faced by aging teachers when it comes to their retirement decisions.     

CONTINUING EDUCATION: A FACTOR IN PREPARING FOR RETIREMENT

This study focuses on the role of formal continuing education in helping persons prepare for retirement. The subjects were 206 classified, university employees between the ages of 50 and 65. The Retirement Preparation Indexes were used to measure behavior, information, and attitude toward retirement. Using the analysis of variance (a = .05), participants in formal continuing education (N = 46) scored significantly higher on the indexes community activity behavior, health care issues, psychological adjustment information, preretirement zest attitude, total behavior, total information, and the complete retirement preparation index. Preretirees involved in lifelong learning were found to be more concerned about their own development regardless of age and more aware of the options available to them upon retirement.     

Predicting teacher retention behavior: Ex ante prediction and ex post realization of a voluntary retirement incentive offer

Teacher retention and retirement decisions are increasingly affected by retirement benefits as the date of retirement eligibility approaches. As part of an effort to rein in operating costs, Chicago Public Schools sought to induce earlier retirement of senior, hence costlier, teachers by offering a voluntary retirement incentive that would be implemented only if enough teachers indicated their willingness to accept it. We used a structural model to predict teacher willingness to take the incentive, and later, when the number of teachers signing up was realized, we compared predictions to the outcomes. We found that the predicted number of willing takers would be less than required to implement the incentive, and this proved true. Further, the predictions were similar to the patterns of takers by age and year of service, though some differences were apparent. We discuss implications for using structural modeling to inform policy design.     

Perceptions of Retirement Affect Career Commitment: The Mediating Role of Retirement System Satisfaction for Two Teacher Age Groups

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 retirement benefits, understanding of the retirement system, perceived need for system change, control over the retirement plan, and satisfaction with current salary. The results indicated that the pattern of results differed for younger and older teachers. For the younger (age 21–45) group, concerns about retirement benefits (such as losing or reducing benefits through geographic mobility) and control over the retirement plan had significant, large, and direct effects on career commitment. For the older (age 46+) group, retirement variables had a significant effect on career commitment via the mediator of satisfaction with the retirement system. Given these findings, for younger teachers, strategies might focus on providing greater control over the retirement plan, such as in offering choice in how their retirement monies are invested. Older teachers need to feel safe about retirement in the sense of being satisfied with the system and its benefits to commit to their jobs.     

Training Effects on Older Adults in Information and Communication Technologies Considering Psychosocial Variables

The main aim of this study is to contribute knowledge about the impact of the use of information and communication technologies (ICT) on the self-concept, mood, and quality of life of institutionalized older adults in retirement homes and day care centers (Portuguese institutions). It also studies the influence of independent variables such as age; education; referral to the institution (own initiative, indicated by friends, indicated by family, indicated by social security); attendance schedule; and visits from family and friends. The study comprised 41 participants organized into two groups: 22 older adults in the ICT Group and 19 older adults in the Passive Control Group. There were three evaluation periods: before the onset of intervention and 11 and 22 months after intervention began. The results demonstrate that involvement with information and communication technologies produced positive effects on older adults’ social behavior and their self-perception of physical and environment facets of quality of life. Moreover, they suggest that there is a relationship between psychosocial variables and independent variables.     

我国会计信息失真的成因与对策

会计信息在公司治理中扮演着重要的角色。通过会计信息,各利益相关者能够监察公司的运作及做出各种投资、融资决策。因此,会计信息失真对整个经济、社会产生很多不良的影响。文中首先分析会计信息失真定义及分类,进而分析会计作假的深层原因,并以当前中国会计信息失真的现状来分析会计作假的具体原因。并提出治理会计信息失真的具体方法。     

AARP Online Portrayal of Social Security: Engaging Aging Baby Boomers Through Interaction

Although baby boomers were not the sole focus of the American Association of Retired Persons' (AARP) website content on the issue of Social Security reform, their interests were addressed in a variety of ways. AARP provided information, position statements, a live chat forum, and message boards. Additionally, AARP had a partnership with the Rock the Vote website. It was unexpected that AARP would be so interested in younger people and in convincing them about their generation's need to support Social Security as it currently exists. It may be that as the baby boom generation enters retirement, AARP will become increasingly concerned with addressing the specific needs of this group. For now, AARP seemed comfortable with a single message designed to fit all age groups: AARP favored maintaining the existing Social Security system and promoting individual investing and savings.