Faculty Retirement in Hattiesburg - USM Forum -- Message Board

Date: Mar 22, 2005

Faculty Retirement in Hattiesburg

Date: Mar 22, 2005

quote:
Originally posted by: The Green, Green Grass of Home
"Although many USM faculty members have left or plan to leave, others are too invested in the state retirement system to leave right now. Many of them will finish out their academic careers at USM. But will they remain in Hattiesburg and environs after retirement? One of the big draws of USM was that it is located in a pleasant pleasant community. A good place to raise children. A nice place to live. A good geographical location. Away from the noise and hustle of the big city. Not too urban, not too rural. Reasonable shopping and medical facilities. Located in the center of the Jackson-Gulfport-Mobile-N.O. hub. Will the events of the past three years will affect prospective retirees' decisions to stay in town after retirement? Will prospective retirees be able to ignore derisive or divisive statements from community leaders as they plan their post- retirement future? Will prospective retirees be able to ignore the newspaper letters characterizing the USM faculty as lazy and worse? When prospective retirees buy a car, dine in a restaurant, conduct a real estate transaction, have dental work done, cash a bank check, drink a cola, drive past the campus . . . . will these be reminders of bad times? On the positive side of the ledger, many faculty have made new friends among their colleagues. Will that make it easier to stay? What do you think? "

This is the other question my wife and I are discussing (See "Season Tickets" thread). Many friends were also colleagues and most have left. We couldn't leave, but soon I will retire and we need to decide. Several of our friends in the community support SFT and it has become awkward to socialize with them, especially when something new pops up in the paper about USM (something that seems to occur at regular intervals with each "next stupid thing" done by SFT).

So we need to consider where to spend our retirement. If we leave H'burg, we my as well escape from this state altogether. Bummer.

Date: Mar 22, 2005

quote:
Originally posted by: The Green, Green Grass of Home
"What do you think?"

I think I will never again live in Hattiesburg. I have learned too much. When I do visit I will be very careful which businesses I patronize.

Date: Mar 22, 2005

I hadn't thought of this until last year. However, I am now at least thinking about leaving. It's afftecting how I work as I now think more about improving my vita and less and less about contributing to the institution. I go to more meetings now just to circulate and quietly look for another position. My sense is there is a lot of this going on. This a big change in my perspective and I don't think I'm alone.

Date: Mar 22, 2005

Hey - that's why I chose my board name - I am counting for sure! Seriously, I do think H'burg is a great place to live. I can honestly say that it has been a good move for me and my family.

BUT... am I willing to retire here? I suspect not. I am like many others in the state retirement system - Stuck. I can't go, but I don't want to stay. I believe that many of us that are "locked in" have seen enough of MS (25 yrs+), and want to see some other part of this wonderful country. Nothing against the state, it is just time to see something other than pine trees.

A busy vita-enhancing Count!

Date: Mar 22, 2005

quote:
Originally posted by: Counting the days
"Hey - that's why I chose my board name - I am counting for sure! Seriously, I do think H'burg is a great place to live. I can honestly say that it has been a good move for me and my family. BUT... am I willing to retire here? I suspect not. I am like many others in the state retirement system - Stuck. I can't go, but I don't want to stay. I believe that many of us that are "locked in" have seen enough of MS (25 yrs+), and want to see some other part of this wonderful country. Nothing against the state, it is just time to see something other than pine trees. A busy vita-enhancing Count! "

Come to New Mexico and see Pinon trees, tumbleweeds and dirt.

Date: Mar 22, 2005

quote:
Originally posted by: The Green, Green Grass of Home
" One of the big draws of USM was that it is located in a pleasant pleasant community. A good place to raise children. A nice place to live. A good geographical location. Away from the noise and hustle of the big city. Not too urban, not too rural. Reasonable shopping and medical facilities. Located in the center of the Jackson-Gulfport-Mobile-N.O. hub. "

That's a lot to leave. But I can not stay where I do not feel welcome. When I first came here I didn't know the USM faculty was seen as lazy liberals. I'll cast my Republican vote elsewhere, thank you.

NO QUARTER

Date: Mar 23, 2005

quote:
Originally posted by: Registered Voter
" That's a lot to leave. But I can not stay where I do not feel welcome. When I first came here I didn't know the USM faculty was seen as lazy liberals. I'll cast my Republican vote elsewhere, thank you. NO QUARTER"

Funny, my wife and I feel the same way and we're democrats.

Date: Mar 23, 2005

quote:
Originally posted by: The Green, Green Grass of Home
"Although many USM faculty members have left or plan to leave, others are too invested in the state retirement system to leave right now. Many of them will finish out their academic careers at USM.

What do you think?

"

God bless TIAA/CREF--that's what I think!!!

Date: Mar 23, 2005

quote:
Originally posted by: Registered Voter
"
But I can not stay where I do not feel welcome. When I first came here I didn't know the USM faculty was seen as lazy liberals.NO QUARTER"

This part of leaving USM was the saddest for me. I had thought Hattiesburg was my home. But I opened the paper everyday and found out that no matter how hard I worked, how well I taught, or how much I shopped locally, I was hated. In fact, the bitter feelings I have about this make me not even want to set foot in the town for the post-Shelby celebration and board coming out party.

Date: Mar 23, 2005

Selling out and leaving the state. Not looking back in the rearview mirror. Let the old guard and limited thinkers of this area enjoy each other. They will not get my money in retirement. Hattiesburg has a bad taste in my mouth.

Date: Mar 23, 2005

quote:
Originally posted by: Old Business
"Selling out and leaving the state. Not looking back in the rearview mirror. Let the old guard and limited thinkers of this area enjoy each other. They will not get my money in retirement. Hattiesburg has a bad taste in my mouth. "

We are considering the same thing, Old Business. Now our concern is should I retire early. If we wait too long it may be difficult selling our home. The housing market may become a buyers market because of all the people (faculty and staff) leaving USM. A drop in enrollement (or very slow growth) may create an apartment glut too. It could be especially bad if we wait too long and the Iraq war winds down and the troops in H'burg leave.

These concerns are making it impossible to concentrate on research. Faculty tell me all they an think about is family, finances and resume writing.

Date: Mar 23, 2005

A footnote on PERS and older faculty. One of the most underappreciated things about the faculty and staff at USM was the number of people that had put in their 25 years and continued to work at the place. Under PERS there is a tremendous financial incentive to do 25 and off to another job drawing a paycheck AND retirement. People like Frank Glamser and Gary Stringer had left a lot of money on the table by staying at USM. There were many others like them, both faculty and staff. This represented a large implicit contribution to the institution that went largely unrecognized.

That mindset may now be permanently destroyed as in the common question, "How many more years do have left?" Once a certain cutpoint is reached (someone that knows the exact year can point this out), the amount of turnover that's going to occur will increase substantially as the golden shackles will come off.

Date: Mar 23, 2005

quote:
Originally posted by: Ticket Holder
"These concerns are making it impossible to concentrate on research. Faculty tell me all they an think about is family, finances and resume writing."

Another wonderful side-effect of Shelby's efforts to increase productivity: a decline in the ability to be productive. Thanks, Shelby!

Date: Mar 23, 2005

This is the saddest thread that I've seen. More than any other it chronicles the damage that has been done. Human capital is real.

Date: Mar 24, 2005

Can't you just see it now. A marquee at the intersection of every major highway and the Hattiesburg city limits:

Welcome to Hattiesburg

Faculty Scum, don't let the sun
go down on you in this town!

Have a nice day!

and on the other side:

You are now leaving Hattiesburg

The town where
faculty scum
know their place!

Come back soon!

Sign maintained by Courtesy Ford.

Date: Mar 24, 2005

Hattiesburg is a Resort Town: AKA, The Last Resort

"Is this the only faculty job you could get?" Welcome to Hattiesburg, Where the Boredom and Hostility Rolls Just Like in The Old Days

Date: Mar 25, 2005

Read this. You may find that you won't be able to retire anywhere except in Mississippi or a third world country.

Senate moves to cover rising liability to retirees

By suspending deadline for bills, Senators can take up measure to use bonds

By Laura Hipp
lhipp@clarionledger.com

http://www.clarionledger.com/apps/pbcs.dll/article?AID=/20050325/NEWS010504/503250350/1002

Date: Mar 25, 2005

quote:
Originally posted by: No slave to PERS
"

God bless TIAA/CREF--that's what I think!!!"

I'll second THAT one! So glad I chose to stay with TIAA/CREF when I went to Mississippi. I guess I had a feeling I wouldn't be staying there forever, although I didn't plan on leaving quite so soon.

This thread is so depressing -- and for very good reason -- that it seems appropriate to share a light-hearted account. While I was interviewing for the position at USM, a member of the faculty at that time (who has, incidentally, left) asked me, "Are you planning to retire here?" I misunderstood the question, thinking she meant, "Are you looking for an easy job here?" I protested, "No! I'm planning to do a good job here!" Had she asked me the same question after Shelby had taken over, I would have answered, "Hell no!"

Date: Mar 25, 2005

FWIW, don't know whether to post this on the football tickets thread or here. I'm a season ticket holder, eagle club member, fan of the arts and symphony. I spend lots of money with local businesses. I do extensive service work in support of the community. I have talked to the people inside and outside the university who should be able to make the necessary, meaningful changes in USM's leadership. I have not been effective. I will not retire here.

Date: Mar 25, 2005

quote:
Originally posted by: No slave to PERS
" God bless TIAA/CREF--that's what I think!!!"

I'm not an expert on retirement packages by any means, but I currently receive PERS and TIAA/CREF retirement income. In my own situation and from my own perspective, PERS is far superior to TIAA/CREF for me. I did not feel that way when I first arrived at USM and I was very unhappy that TIAA/CREF was not available at USM at that time. But as I grew closer to retirement age and began to carefully examine the details of each plan I began to appreciate the Mississippi Retirement System.

Date: Mar 25, 2005

quote:
Originally posted by: Waterford Way of Life
"I'm not an expert on retirement packages by any means, but I currently receive PERS and TIAA/CREF retirement income. In my own situation and from my own perspective, PERS is far superior to TIAA/CREF for me. I did not feel that way when I first arrived at USM and I was very unhappy that TIAA/CREF was not available at USM at that time. But as I grew closer to retirement age and began to carefully examine the details of each plan I began to appreciate the Mississippi Retirement System. "

The "details of the plan" of TIAA/CREF depend on you--you make the decision as to whether your money goes into TIAA or CREF or the various other funds the system seems to have now.

On a side note, I don't know if you're seeing the TIAA/CREF TV commericals in Hattiesburg (I suspect not), but I'm a real sucker for them. Photos of profs doing what they do--like standing in front of a gigantic class lecturing--and the soundtrack plays Bernstein's "There is a place for us" from West Side Story. I know it's a commercial and is designed to get to me, but it works. For it is celebrating the very thing that Shelby Thames does NOT understand.

Date: Mar 25, 2005

quote:
Originally posted by: foot soldier
" The "details of the plan" of TIAA/CREF depend on you--you make the decision as to whether your money goes into TIAA or CREF"

You are right. I distributed my TIAA/CREF toward equities (75% CREF, 25% TIAA) and the total portfolio rose greatly over the years. Nonetheless, PERS has worked well for me. Love those 13th checks which keep getting larger and larger each year!