College faculty and staff are better prepared for retirement than the general population, according to a new TIAA-CREF survey.
Among other things, the survey found that higher-ed professionals are more likely to have savings in an IRA in addition to what they've put away in their employer-sponsored retirement plan. Forty-two percent of those higher-ed folks have done so, compared with only 34 percent of the general population.
In addition, TIAA-CREF also found that tenured and tenure-track faculty feel more confident about having enough money to get comfortably through retirement, with 83 percent saying they feel "very confident" or "somewhat confident" that they'll be able to do so. Only 55 percent of the general working population feels that way.
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