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Plan to allow federal workers to phase into retirement would benefit baby boomers

By Rita R. Robison

A voluntary program for federal employees and their agencies would allow retirement-eligible employees the option of switching to part-time work.

Capitol Building FederalThey would draw a partial salary and a partial annuity, both prorated according to the time worked, reports an article in The Washington Post.

The program offers benefits for baby boomers, many of whom want to work part-time in retirement. Some boomers aren’t prepared for retirement and need to work beyond age 65 to improve their financial situation. Others want to work part time to keep active in retirement.

Under the program, boomers would be able to continue to offer their expertise to their agencies, offsetting an expected “brain drain” as boomers retire. Boomers also would be able to mentor younger workers.

The program, enacted last month as part of a cost-saving law, won’t be available until the Office of Personnel Management issues rules to carry it out, the article said.

Copyright 2012, Rita R. Robison, Consumer Specialist

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