Word: retiree
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"In most places people are happy to retire; it's like putting down their monkey wrenches in a factory. When the age rose to 70, they still retired at 65," Vagts adds.
Without mandatory retirement, faculty have no incentives to retire and every reason to stay.
One extreme, Rudenstine points out, would be to pay every faculty member a large sum to retire. The other extreme would be not to bother trying to induce faculty to retire. The challenge, he says, is finding something in the middle.
In 1993, FAS took several steps to enhance both the status of emeritus professors and the incentives to retire.
Across the schools, the problem inducing faculty to retire is communicated by a change in benefits policy that the University enacted in 1995.