If you’re considering retirement but want to pass on your knowledge and experience to coworkers, phased retirement could be for you.
NTEU has negotiated phased retirement programs at several agencies where we represent employees, including the EPA, FNCS and IRS, and we’re actively working to bring the option to more agencies.
Employees who are retirement eligible and have worked full time for the federal government for the previous three years can apply for the program. Those entering phased retirement would work 20 hours per week and receive 50 percent of their salary as well as 50 percent of their retirement benefit based on their years of service to that point. The percentage of time phased retirement employees must devote to mentoring depends on your NTEU agreement.
We have long played an instrumental role in bringing phased retirement programs to the federal government. After years of pushing for legislation giving federal agencies the option to offer these programs, NTEU continues to press more federal agencies to develop programs at the bargaining table.
The phased retirement program is a win-win for employees and the federal government. With more and more baby boomers reaching retirement age, many may not be ready to completely leave the workforce. Phased retirement can help manage that transition while allowing these employees to share their experience, insight and institutional knowledge with younger employees.
NTEU members can get details on phased retirement, including eligibility requirements, and read agreements we’ve negotiated at their agencies here.