When I made my stop-the-presses announcement that I’m moving into phased retirement, I found out a couple of things.
Phased retirement hasn’t been as popular among federal employees as expected, but Mike Causey is willing to give it a shot.
In today’s Federal Newscast, the Republican Study Committee want to overhaul federal employee pay, performance awards and hiring systems.
Congress had once anticipated as many as 1,000 federal employees would use phased retirement at any given time. But eight years after lawmakers signed off on the program, participation still falls well short of original expectations.
During proposed phased retirement, employees would spend 50 percent of their time training younger employees. A win-win situation — so people were told.
When it comes to programs designed to benefit federal workers and the taxpayers too, the biggest loser may be the phased retirement program launched six years ago.
A total of 417 federal employees have participated in the phased retirement program since the Office of Personnel Management first gave agencies the green light to start accepting applications back in 2014.
The Office of Personnel Management is receiving more applications for the phased retirement program this year than it had during the first full year of its existence, but the numbers are still relatively low, given the large number of federal employees who are or will be eligible by the end of fiscal 2017.
Sean Morris, principal, Deloitte Consulting LLP, and Angela Watts, managing director, Deloitte Consulting LLP, make the case for agencies to look to phased retirement to help with the expected retirement surge in January.
The 2017 defense authorization bill increases the amount DoD workers get for leaving their jobs by $15,000. The bill, signed into law by President Obama on Friday, provides up to $40,000 in retirement incentives for eligible civilian employees.