Aging Faculty

When I was in graduate school in the late 1980s I was advised that it would be a great time to enter academia because the faculty was aging. I didn't believe it. Now, the aging faculty argument is rising again. Here is an excerpt from Harry Moody's aging issues newsletter:

"In a recent survey, among faculty at Stanford University,
it turns out that 53 percent are older than 50, up from a level
of 43 percent in 1993. Those under-45 have fallen from 42 to 33
percent. One cause may be that, since 1994, federal law has
ended mandatory retirement for faculty. Some are worried about
the trend. Former Harvard president Lawrence Summers said that
the aging of faculty 'is one of the profound problems facing the
American research university.'"

Perhaps the trend has finally hit the academic world. The oldest of the baby boom generation is reaching age 65. But will they retire, and at what cost? At my current University we have many faculty in their late 60s and early 70s who still teach. Some do it quite well, others not so well. We put effort into easing them out of the classroom, then out of their offices. For many it is a slow and painful process. They move to part time teaching, they alternate semesters, they plan research and writing projects. Managing the soon to retire and retired can be a time consuming process.

Why is academia different from other occupations in that regard? Most places send you off with your retirement fund and watch and wish you luck. We have retirement galas of all types in academia, but often the nature of the job, and they type of people it attracts, makes it difficult to really move people out the door.

I think about this with respect to my own career. Will I recognize when it is time to stop teaching? Will I be ready to move out the door?