Retirement readiness among the higher education workforce: Impact of COVID-19
Since the onset of COVID-19, 22% of the full-time higher education workforce have become less confident that they will have enough money to live comfortably throughout retirement. At the same time, 9% have become more confident.
This report uses data from the 2020 Higher Education Financial Wellness Survey to examine retirement readiness among the full-time higher education workforce in the context of the COVID-19 pandemic. This includes retirement saving and investing and converting savings to income during retirement, as well as addressing retiree medical and potential long-term care expenses.
The 2020 Higher Education Financial Wellness Survey was fielded online from Sept. 18 to Oct. 17, 2020, with a sample of 1,195 faculty, staff and administrators employed full time by a public or private nonprofit college or university.
Back To Financial Wellness And Retirement Readiness Main Page
Sign up for the TIAA Institute Newsletter
Get the latest research and insights straight to your inbox