Word: retirees
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Dates: during 1980-1989
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FloJo decided to retire a couple of days ago. And I, for one, think that she retired at the right time. She's leaving the track world on top. She would have been 33 years old when the 1992 Olympics rolled around.
Many athletes don't know when to retire. Kareem Abdul-Jabbar and Mary Decker-Slaney are two that come to mind.
"If people don't retire and we go on paying their salaries and providing facilities, what will we do about recruitment? If we go on recruiting at the same rate, Harvard will have more and more professors, which would be financially burdensome," says Houghton Professor of Chemistry Jeremy R. Knowles...
"Administrators in each of the schools are trying to figure out what they should do to create the right environment so that faculty can graciously retire at the appropriate time," says Vice President for Finance Robert H. Scott, who sits on Spence's committee and also heads a University-wide...
In addition, the later professors retire, the shorter their life expectancy after retirement will be. So the portion of the fund used each year will increase not only because the fund itself is larger, but also because it is expected to last fewer years.