Reporter Volume 26, No.24 April 13, 1995

By CHRISTINE VIDAL
Reporter Editor
Joseph Masling, UB professor emeritus of psychology, has likened his
retirement to a decompression chamber.
	He still has an office in Park Hall, and an assistant. He
still edits and publishes extensively. He still teaches two courses
each year. But there's no more of "the busywork, the red tape, the
endless committee meetings, the endless discussion of curriculum." In
retirement, Masling says he is enjoying all the joys and none of the
drudgery of academic life.
	"I jettisoned everything I didn't want and kept everything I
did want, so I have the best of both worlds," said Masling, who
retired from UB in 1991.
	He had often wondered what would motivate him to retire, he
said. "One day, I noticed that I didn't want to prepare a syllabus and
I didn't want to fill out a book list for the library. Both of those
take 20 minutes and I just didn't want to do it."
	And in that moment, he knew it was time.
	A look at the family finances showed that between his pension
and Social Security benefits and his wife's pension and Social
Security benefits, they could live at a level "very close" to their
pre-retirement lifestyle.
	"On the other hand, I didn't want to retire and become old,"
Masling said. "So I hedged. I retired from my paycheck but not from my
work and my colleagues."
	He's been well satisfied with his decision. The Maslings now
spend three months each winter in San Diego. "We find we can live in
Buffalo much happier if we can leave behind the gray months," Masling
said. "I haven't left the field, I left behind the stuff I didn't like
-- course outlines, exams."
	Retirement also has allowed him to pursue interests he didn't
have time for before. "Since I was no longer 'careering,' I could read
things that weren't in my field," said Masling, who has taken a class
at UB each fall since he retired. "It's nice to be a student again.
You know, the excitement of learning -- it's wonderful."
	Masling has taken classes in Shakespeare, the Bible as
Literature and a basic course in Harmony and Counterpoint. Next fall,
he may take another music course, he said. "I'd like to go back to the
piano, which I probably haven't touched in 65 years."
	Of course, one of the keys to a successful retirement is being
in good health and having the funds, Masling said. Another is
planning.
	"It's not luck. We had to structure it. We try to structure
our life to suit us. You can't be passive about it."
	Retirement has opened up a whole new world, he says. "One of
the joys of retirement (is) you can do whatever you want," Masling
said.
	"I know for some people, retiring is leaping into the great
unknown. So what I did is split the difference. It's like going
through a decompression chamber." 
Although Joseph Masling retired in 1991, many of his ideas about careful 
planning apply to those who are thinking of retiring in 1995, and utilizing 
the early retirement program that New York State  has offered.
	In conjunction with the 1995 State of New York Early
Retirement Incentive Program, UB has retained the services of KPMG
Peat Marwick to provide individual and private personal financial
planning services for those unclassified employees who submit the
Non-Binding Notice of Interest to the Personnel Services Office, 104
Crofts Hall, by April 19, 1995.
	An orientation session that outlines the specific retirement
benefits and services will be held for interested faculty and staff
and their spouses from 7-9 p.m. Thursday, April 13, at the Center for
Tomorrow. The session is free of charge.
	The purpose of the session is to help UB faculty and staff
considering retiring to make the decision that is best for them,
according to Martin J. Skrip of KPMG Peat Marwick.
	"We're trying to get people to think about the whole process
and how they can make an analysis of their needs," said Skrip.
	In addition to the specific provisions of the early retirement
incentive being offered by New York State, the orientation session
will focus on different issues that need to be considered when
contemplating retirement, issues such as fixed vs. discretionary
expenses, lifestyle planning, retirement income distribution, income
tax planning, cash flow needs and providing for dependents, among
other considerations.
	"This group of people are probably involved in other
activities that will generate income (after retirement). They're not
just going to be playing golf or sitting on a sailboat," Skrip said.
"We're going to look at the specific steps of developing a retirement
plan."
	People often find that they are in a better financial position
after the retire, he noted. "New York State has very favorable
provisions for retirees," Skrip said. For example, New York State
retirement income is excluded from New York State taxes. In addition,
retirees no longer pay Social Security taxes, which can save an
individual thousands of dollars a year.
	He noted that for many, receiving Social Security benefits
also is a concern. But, "by drawing earlier, rather than later, the
benefit is smaller, but you draw it longer."
	Faculty and staff who submit the Non-Binding Notice of
Interest by the April 19 deadline also will be able to take advantage
of individual financial counseling sessions free of cost, he said.