Community College Journal - February/March 2010

not currently employed in education, but a majority (69 percent) have done some work in education during their retirement, usually in part-time, consulting, or interim roles.

Retired presidents (65 percent) are sought out for advice by other executives in community colleges. Data show that of those who have worked in retirement, 72 percent worked as consultants, 20 percent worked as interim presidents, and 22 percent worked in a college or university.

Some respondents (45 percent) indicate that they have worked outside education. No pattern emerges from their responses, but, clearly, opportunities exist for engagement in fields closely aligned to education for those who seek part-time or interim employment.

the past year. The primary motivators for trips were either to tour or to visit family.

More than 75 percent of retired presidents say volunteering is either important or very important to their well-being, and they donate their time and skill to community organizations, education, and church.

Almost 90 percent of respondents indicate that they spend three hours or more each month in volunteer activities, and 58 percent spend more than seven hours a month engaged in such activities. Just 26 percent of presidents say that they average three hours per week in volunteer activities. Given the value that retired presidents place on volunteer activity, the actual volunteer hours are relatively few.

ately before their departure. The trend clearly is to inform all stakeholders well in advance of departure and to collaborate on a plan for a smooth transition.

By virtue of their office, presidents are planners, and data clearly indicate that the vast majority did not enter retirement without serious preparation. Almost 90 percent said they began their planning at least two years prior to retirement; 56 percent began planning five or more years before retirement. Planning focused primarily on finance (98 percent), but a high percentage also focused on lifestyle issues, such as living location (68 percent), travel (63 percent), and relationships (54 percent). To a smaller degree, retired presidents gave thought to volunteer activities ( 35 percent) and to work opportunities ( 29 percent).

While retired presidents understandably are less than happy about their current financial standing, an overwhelming majority think they planned well and made the right decisions to secure their financial futures. But they also indicate that if they had it to do over, they would have nuanced their employment contracts to provide more favorable retirement benefits.

A majority of respondents (58 percent) felt they could have planned more to identify professional opportunities and possible volunteer activities. While financial issues loom large prior to retirement, work and volunteer opportunities become increasingly important afterward.

As presidents leave their work life behind, personal health and recreation increase in importance. In retirement, presidents as a group report that they maintain their health by paying attention to nutrition, exercise, and weight, and 92 percent report that their health has either improved or stayed the same.

Almost unanimously, presidents agree that the chief benefits of exercise and physical recreation are the sense of well-being, general health, and increased energy. Presidents also like the social interaction and the structure exercise and recreation give to the day.

More than 80 percent of the retired presidents say travel is important or very important to their retirement satisfaction. Reflecting that value, 96 percent of presidents say they have taken at least one non-work-related trip in the past year, and 56 percent say they have taken at least four trips in

recommendations

In a series of open-ended questions, retired presidents were asked what they wish they had known prior to retirement and what advice they would offer to those considering retirement.

Though some presidents were pleased with their planning, others felt they could have been more prepared for the significant life change and the challenges associated with it.

Some presidents took time to articulate with enthusiasm how much they enjoy retirement. Another group of presidents focused more on the challenges associated with retirement, challenges they perhaps did not sufficiently anticipate. These challenges were primarily related to the use of time and the search for meaningful activities as they moved from a high-profile leadership role into retirement. Retirees wished they had given more thought to how they would fill their

“By virtue of their office, presidents are planners, and data clearly indicate that the vast majority did not enter retirement without serious preparation. ”

retirement experience

The majority of presidents (54 percent) do not live in the community of the college from which they retired, and more than 74 percent are no longer active in the college. Those presidents who are active in their colleges most often cite work for the college foundation. Respondents generally are likely to move physically from their college communities and, by a wider margin, do not participate in the life of the college except for marginal roles in their college foundations.