OPM Proposes Part-Time Employment for Older Feds Nearing Retirement as Way to Save Money

As part of the White House’s fiscal year 2013 budget released last week, the Office of Personnel Management (OPM) proposed a plan that would allow older federal employees to work part-time as a way to phase into retirement.

“Many individuals who are nearing the end of their working lives do not want to completely stop working, although they no longer wish to do so on a full-time basis,” the budget said.

The proposal would allow federal employees who are approaching retirement to continue working while receiving a partial annuity and earning additional retirement benefits based on their part-time employment.

The budget said that the proposal could save agencies $720 million over the next ten years by not having to immediately replace the employees and by postponing payment of retirement benefits.

Those employees who chose to phase into retirement would be required to mentor younger employees.

“This proposal will help encourage those individuals to continue working for the federal government and will enhance the attractiveness of late-career part-time employment, thereby facilitating continuity of operations and training of less experienced employees,” the budget said.

The White House’s fiscal year 2013 budget is available here.

Posted in General News

PrintEmail

Comments are now closed for this entry

This Week on FEDtalk

This Week on FEDtalk: How Federal Agencies are Using Data Visualization

Tune in to FEDtalk this Friday to learn how federal agencies are using data visualization techniques to better educate the public on what they are doing and to improve government transparency.

Read more ...

Manager Matters

One Month into the New Administration

Policy changes and refocused initiatives are developing just one month into President Trump’s administration.

Read more ...
FEDmanager

FEDmanager.com

The free weekly e-report for Federal Executives, Managers & Supervisors

About FEDmanager

Click to learn more about us

Get in touch with us

Email FEDmanager publisher

Copyright 2015 FEDmanager.com
Built with HTML 5 & CSS 3