Findings of three reports on the potential impact of age 70 mandatory retirement legislation on the arts and sciences faculties of institutions belonging to the Consortium on Financing Higher Education (COFHE) are summarized. In a report by J. Russell Southworth et al., faculty flow (departures, new appointments, appointments to tenure, etc.) is modeled for the period 1974-78. Based on the model, future projections are made with respect to effects of the retirement legislation on payroll costs and new appointments for junior faculty. The report by John O. Blackburn and Susan Schiffman presents a more complete profile of the faculty for whom data were collected and discusses the adjustment to age 70 mandatory retirement from a policy analysis perspective. The third report by the Institute for Research in Social Behavior contains results from a field survey and describes faculty expectations for retirement, their evaluation of their present health and financial situation and their response to five hypothetical early retirement incentive plans. In addition to highlights of these three reports, the applicability of study results for individual institutions is considered. Appended are a list of retirement studies and committees at COFHE institutions and descriptions of selected early retirement plans with examples. (SW)