The Power of Suny Retirees: Lessons Learned from Over 100 Retirement Stories

THE

POWER

of SUNY

RETIREES:

Lessons Learned from

Over 100 Retirement Stories

THE

POWER

of SUNY

RETIREES:

Lessons Learned from

Over 100 Retirement Stories

Ram L. Chugh, Ph.D.

Executive Director (Emeritus), SUNY Retirees Service Corps

Distinguished Service Professor of Economics (Emeritus)

May 2018

The State University of New York (SUNY)

Copyright 2018 SUNY Retirees Service Corps

Permission to reproduce the material within this book must be obtained by contacting the SUNY Retirees Service Corps at [email protected] or (518) 320-1354

Cover design by David Schillinger

All photographs within this publication other than campus logos were provided by individual retirees whose stories are included in this book.

ISBN 978-1-64255-412-0

Dedication

This report is dedicated to all SUNY Retirees in recognition of their contributions to the State University of New York. SUNY became what it is today because of the dedication and accomplishments of its past and current employees. This report seeks to give SUNY retirees the credit they richly deserve and demonstrate the roles they can continue to play

Table of Contents

Index: Names of SUNY Retirees whose Stories are Included in Chapter 2

Foreword

Acknowledgements

Executive Summary

Chapter 1 An Overview of the Study

I. Process of Adjustment to Retirement

II. Objectives of the Study

III. Survey Distribution, Response, and Respondent Demographic Profile

IV. Highlights of the 102 Retirement Stories

V. Selected Quotes from Retirement Stories

VI: Lessons for SUNY Employees Contemplating Retirement

VII: Next Steps: Where Do We Go from Here?

Chapter 2  102 SUNY Retirement Stories

Chapter 3  Advice from Survey Respondents to Employees Planning to Retire

I. Introduction

II. Categories of Suggestions for Potential Retirees

Chapter 4  Role of SUNY Campuses in Providing Retirement Assistance

Chapter 5  Harnessing the Power of SUNY Retirees

I. Retirees as a Valuable Resource

II. Suggested Action Plan for Harnessing the Potential of Retirees

III. Characteristics of SUNY Retirees as Volunteers

IV: Proposed Role of SUNY Leadership and Retirees

V: Concluding Observations

APPENDICES

Appendix A: Checklist for SUNY Employees Planning to Retire

Appendix B: Selected Resources for Retirement Planning

Appendix C: SUNY Retiree Service Corp Brochure

Appendix D: The Power of SUNY Retirees: Lessons from Retirement Experiences Survey Survey Questionnaire

About the Author

Index: Names of SUNY Retirees whose Stories are Included in Chapter 2

Foreword

Dr. Ram Chugh, who retired 16 years ago as a faculty member from State University of New York (SUNY) at Potsdam, is an author of several books and former Executive Director of the SUNY Retirees Service Corps (RSC). Dr. Chugh has been my friend for more than 10 years and is also a longtime volunteer at SUNY System Administration. He introduced the concept of developing a book covering the individual stories of over 100 retired SUNY employees. His passion, knowledge and experience made him uniquely qualified for this project. Dr. Chugh recognized that retirees have much to offer society in general, and especially to communities across New York State. It was his vision that led to creation of the SUNY RSC, and he has assisted a number of our Colleges and Universities with the creation of a campus-based retiree organization.

Since its inception in 1948, several thousand employees have retired from SUNY. Many of these former employees decided to remain in the same community or move to other areas of New York State. They represent an enormous block of smart and skilled people who continue to have an impact on communities in New York and across the nation. This book is dedicated to the State University of New York family, including all current and retired employees.

The State University of New York (SUNY) System is unique in its size, breadth, and complexity; with 64 campuses, including major research universities, health science centers, statutory colleges, comprehensive and technology colleges, and community colleges. SUNY enrolls more than 600,000 students, employs more than 90,000 employees, and has an all funds budget of more than $13 billion. SUNY is a significant force in higher education nationally with an increasing global impact, as well as a vital economic, social and cultural engine in New York State. Much of what SUNY has accomplished would not have been possible without the efforts of its dedicated former employees during their careers.

I want to thank Ram for his friendship, his volunteer service to the State University of New York, and for coordinating THE POWER OF SUNY RETIREES: Lessons Learned from Over 100 Retirement Stories. I was amazed and even moved by the scope and depth of the experiences shared by SUNY retirees along with the advice they offered to those approaching the end of their State University of New York careers. This publication should prove immensely useful to employees looking to retire as well as to campus Human Resources Department and Employees Assistance Program staff in counselling them on their retirement planning.

Curtis L. Lloyd, MBA

Former Vice Chancellor for Human Resources

State University of New York

Acknowledgements

At the outset, I wish to express my deep gratitude to Curtis Lloyd, SUNY System Administration’s recently-retired Vice Chancellor for Human Resources, for his support and encouragement in conducting this survey of SUNY retirees relating to their retirement experiences through the SUNY Retiree Service Corps (RSC). Curtis identified with the goals of this project early on and displayed great interest in its findings. During our frequent discussions, he made several constructive suggestions and helped in shaping the study.

I also wish to express my deep appreciation to Julie Petti, Director of University-wide Human Resources, for her support and involvement in this endeavor as well. As a supervisor of the SUNY RSC, she allowed its coordinator, Pierre Radimak, to devote part of his time to assist me in this project. Julie reviewed the survey questionnaire as well as the draft report. The study benefited greatly from her excellent suggestions.

I am most grateful to Pierre for his immense help in mailing the survey questionnaire electronically to SUNY retirees via SurveyMonkey, in tabulating the survey responses, and in providing valuable editorial assistance. Despite his other responsibilities, Pierre extended a big helping hand to me in getting this project completed. He enjoyed reading the individual retirement stories and made several astute observations on the nature of retirees’ adjustment experiences. These were helpful to me while I was putting this study together. I remain beholden to him for his extraordinary level of cooperation and professionalism. In many ways, I consider Pierre an integral part of this report.

I am also thankful to SUNY retirees Sharon Cramer from Buffalo State, Anne Donnelly from SUNY Cobleskill, John Fisher from SUNY Oswego, and Jim Kalas from SUNY System Administration as well as Rasik Shah (a retiree from General Electric) for their input on the earlier draft of this study. They were generous in taking time to review the draft report. Their thoughtful comments and suggestions came from their own retirement experiences and these helped me in preparing the final report.

I am also thankful to Adeidra Irvin, Executive Assistant to Curtis Lloyd, for her administrative support during the entire process of this study. Her cheerfulness in doing things made my job much easier. Her fun-loving nature and smiles were catchy.

My heartfelt thanks to David Schillinger, Director of Design & Printing at SUNY System Administration, for designing the book cover and for his expert guidance in ensuring that the study was well formatted and looked professional. Thank you David. I remain forever grateful to you.

Lastly, and perhaps most importantly, I am thankful to the SUNY retirees who took time to complete the survey questionnaire. This study is based on their responses. As an expression of my indebtedness to them, this book is dedicated to SUNY retirees. They are the primary actors and participants and potentially among the beneficiaries of this study.

Executive Summary

THE POWER OF SUNY RETIREES: Lessons Learned from Over 100 Retirement Stories study focuses on SUNY retirees and looks into the process of their adjustment to retirement and the activities in which they engage. Retirement is considered a major change in one’s life.

How a retiree deals with this structural change can make retirement an enjoyable experience – a time filled with new opportunities and challenges – or it can be a painful transition that brings boredom, lack of purpose, discouragement and even a disruption to family life.

The primary goal of the study was to find out how SUNY retirees had adjusted to their retirement and the lessons we could learn from their retirement experiences. Based on those experiences, what steps could SUNY campuses and potential retirees take to improve their retirement planning?

A survey questionnaire, The Power of SUNY Retirees: Lessons from Retirement Experiences Survey, was sent to retirees through the SUNY Retirees Service Corps (RSC). It contained questions relating to three items: 1. Adjustment to Retirement: How have retirees adjusted to retirement and what were the activities they engaged in to stay busy? 2. Role of SUNY Campuses in Providing Retirement Assistance: What assistance did survey respondents receive from their campus in planning their retirement? What more could campuses have done that would better prepare future retirees? 3. Advice to Employees Planning to Retire: Based on their own retirement experiences, what advice would respondents give to SUNY employees looking to retire?

The survey questionnaire was sent electronically to retirees on the RSC distribution list. The responses came from retirees belonging to 30 SUNY campuses; they represented a variety of job classifications and years of service. About 67% of the responses came from retired faculty and the remaining 33% represented other job classifications.

This report is divided into five chapters. Chapter 1 provides an overview of the study and highlights the transition process most retirees generally go through in adjusting to retirement. Chapter 2 contains 102 actual retirement stories from the survey responses and the SUNY RSC website. Each story is fascinating, showing the challenges faced in transitioning to retirement. Although some retirees experienced initial difficulties, most of the respondents got involved in a variety of professional, civic, and voluntary activities to stay busy and productive. Giving back to community through volunteerism gave many much satisfaction and added meaning to their retirement. Chapter 3 contains recommendations from the retirees to employees planning to retire to help them better prepare for retirement. Chapter 4 contains suggestions from retirees regarding what campuses and Human Resources Departments, in particular, could do to assist employees planning to retire. Chapter 5 proposes several action items which SUNY campuses should consider taking to connect with their retirees and to tap this valuable resource.

SUNY campuses can take several simple cost-effective steps suggested in the action plan to strengthen connections with their retirees. For example, creation of campus retiree programs or organizations, strengthening those already in existence, and encouraging retirees’ involvement in campus and community services will benefit everyone – campuses, communities, and retirees themselves. The study makes a strong case for promoting a retiree-campus-community partnership at every SUNY campus to harness the power of SUNY retirees for their own greater good and that of the campus and the community.

Chapter 1

An Overview of the Study

I. Process of Adjustment to Retirement

This study focuses on SUNY retirees. It looks into the process of their adjustment to retirement and the activities in which they engage. Retirement is considered a major structural change in one’s life. Moving from a full-time structured life to an unstructured one can be a challenging and stressful period for most retirees. How a retiree deals with this structural change can make retirement an enjoyable experience – a time filled with new opportunities and challenges – or it can be a painful transition that brings boredom, lack of purpose, discouragement and even a disruption to family life.

Transitions are not always easy. It takes time to adjust. Sound pre-retirement planning is vital to make the transition less stressful. But how one makes this transition varies from one person to another. We vary in our attitudes toward doing things – some of us are risk takers and cannot stay still, and keep doing new things. Such people get a sort of high while going through such changes. On the other hand, the risk avoiders will have the most difficult time in adjusting to retirement. They reflexively steer clear of change.

But fortunate people who live long enough can choose to, and do, retire. Every retiree finds a way to accept and adjust. Retirees differ greatly from each other. Every retiree has a unique story to describe his or her adjustment to retirement. But when we look at retirees as a group and examine the process of their transition collectively, we observe certain common traits. How retirees adjust, and the process which they go through, has become a subject of intense academic research for many reasons.

Fifty to sixty years ago, the total number of retirees was small. Now, not only have their numbers increased significantly, but a majority of them are living longer and are leading a healthier lifestyle. It is not uncommon to see retirees living into their 90s and even into their 100s. Advances in medical and health-related sciences and changes in lifestyle and attitudes among new retirees have had a great transformational impact. Many of them continue to remain productive.

Retirement has many dimensions: financial, psychological, social, emotional and physical health, and familial well-being. A large number of studies have been conducted on almost every aspect of retirement to understand the process that most retirees go through. Just type in the words retirement planning into an internet search engine, and hundreds of studies on this subject will pop up. These studies indicate that retirees go through various phases or stages in making this transition.

Mark Cussen, in his paper, Journey through the 6 Stages of Retirement, identifies the stages which most retirees go through to make the transition. He calls retirement the final frontier. "The first transition comes when we leave the security of home to begin school; later we join the workforce, and many of us get married and even start a family. Then finally comes retirement, a time when careers are over and the work is done. Retirees have the rest of their lives to themselves." (1)

Cussen breaks down the transition to retirement into the following six main phases:

Pre-retirement – Planning Time

The Big Day – Smiles, Handshakes, Farewell

The Honeymoon Phase – I am Free!

The Disenchantment Phase – So, this is it?

Reorientation – Building a New Identity

Establishing a Routine – Moving On

Virtually all retirees will experience some form of this process after they stop working, Cussen said. Life planning is an important key to successful retirement. Workers who have given serious time and thought to what they will do after they retire will generally experience a smoother transition than those who haven’t. (2)

In her 2004 book, Retire Smart, Retire Happy: Finding your True Path in Life, counseling psychologist Nancy Schlossberg argues that We should encourage people to think of retirement as a career change; not only are you leaving something behind, you are about to begin something new. Based on her study of 100 retirees, she believes that retirement is not one, but many transitions, and that coping with these shifts depends on the following: the role of work and family in the life of the individual, the timing of retirement, the degree to which their work has been satisfying, the degree to which retirement is planned for, the expectations one has about retirement, the degree to which a meaningful life is established and, of course, one’s health and sense of financial security. In other words, there are many factors that contribute to helping people negotiate the retirement transition. As a result of her research, Schlossberg classified retirees into the following six categories: (3)

Continuers, who continue using existing skills and interests

Adventurers, who start entirely new endeavors

Searchers, who explore new options

Easy Gliders, who enjoy unscheduled items, letting each day unfold

Involved Spectators, who care deeply about the world but engage in a less-active way

Retreaters, who take time out or disengage

Thus, the process of adjusting to retirement varies greatly from one retiree to the other. The studies on this subject can guide a potential retiree regarding what to look for and what kind of retirement planning is right for them.

In my case, I retired after 40 years of working life. Retirement was tough for me. I did not wish to retire. Work provided me with tremendous satisfaction and I felt that I was on top of the world.