Somehow I missed this in the Inside Higher Ed a year ago.
Some 74 percent of professors aged 49-67 plan to delay retirement past age 65 or never retire at all, according to a new Fidelity Investments study of higher education faculty. While 69 percent of those surveyed cited financial concerns, an even higher percentage of professors said love of their careers factored into their decision.
For the faculty boomers who will delay retirement due to professional reasons, 89 percent want to stay busy and productive, 64 percent say they love their work too much to give it up, and 41 percent are unwilling to relinquish continued access to – and affiliation with – their institution.
In related news, this chart tells you about the size of the Boomer, X and Millennial generations in the US. Hint, look at the total-births trace. This has very real consequences. We see the effects of the Boomers in many job sectors, of course, but the academic science one is a job sector which encourages the hardening of generational privilege. People do not become too physically worn out to work. They clearly want nothing other than to die as an active member of the workforce. They simply persist.
At present, the oldsters/Boomers are a huge part of the distribution of the Professor class.
They have a disproportional and distorting effect on everything.
When they DO finally die off then the replacement will come from the Millennial generation. So big ups there, o complaining millennials! The future is bright.