Thursday, June 25, 2015

Adjunct Retirement Insecurity

Inside Higher Ed
June 25th, 2015

Just 19 percent of adjunct faculty members say they’re very confident they’ll have enough money for retirement, while another 49 percent say they’re somewhat confident at best. Nearly one-third of adjuncts (31 percent) say they’re not confident they’ll be financially able to retire at all.
Those are the findings of a new report from TIAA-CREF Institute, the research arm of TIAA-CREF, which is a major provider of financial services and retirement planning to colleges and universities.
The results -- based on a national survey of some 500 part-time and full-time, non-tenure-track faculty members -- are hardly surprising. That is, many adjuncts report that their relatively low pay makes it hard to make ends meet at the end of the month, let alone put money away for retirement. But the data nevertheless shed new light on a perhaps neglected subtopic of the national debate over adjunct working conditions. And while some advocates for adjuncts say that the reality for many is worse than what this study found, they hope TIAA-CREF’s attention will jump-start overdue conversations.

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