Is phased retirement right for you? Here is an overview of how the program works.
Phased retirement may be a solution in search of a problem. Agencies have been slow to implement it and reception by federal employees has been languid. DoD is now moving out to implement the program.
The author says that phased retirement was a program designed to help federal employees ease into retirement while also helping agencies get their replacements up to speed. However, the program has largely been a bust so far in terms of its participation levels. He explains why he believes this to be the case.
There has been a lot of talk about phased retirement, particularly its pros and cons. This article is not debating the merits of phased retirement; it’s “just the facts” in a handy bulleted list.
In theory, federal employees who are eligible can start applying for phased retirement on November 6. Some federal agencies are not yet implementing the program and they also have discretion not to implement the program at all.
Phased Retirement may finally be a reality for eligible federal employees desiring to phase into retirement, however, some agencies have said they will not allow employees to submit applications until 2015. The author offers considerations and practical examples for federal employees who may be considering utilizing the new phased retirement option.
What do you need to know about phased retirement before entering this program? Here are some key points that any phased retirement employee will want to know ahead of time.
The author says that the loss of the annuity supplement under phased retirement is a big disadvantage. However, he outlines a comparable alternative that could help offset this loss.
OPM has issued rules on phased retirement—a new program that will allow federal employees to work part-time while also receiving a portion of their federal pension.
There are specific rules and regulations on returning to work for Uncle Sam after retirement. This article does not attempt to answer the question as to why someone would want to return to working for the federal government after retiring. It will simply address how to do that.