Who can Participate in Phased Retirement?
Phased retirement is a voluntary program where both employee and employer must mutually agree to be a part of the program.  There are some conditions that exist both for CSRS and FERS employees. Each group must have had full-time work status for three years prior to participation.
CSRS employees must be eligible for an immediate retirement
- Also Read: 7 Ways the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) Could Impact Your Social Security Benefits
- Also Read: TSP Management Strategies Federal Employees Are Using to Retire Comfortably
- Also Read: 4 Ways Medicare Could Affect Postal Employees’ Health Coverage and Out-of-Pocket Costs in Retirement
Under FERS similar conditions must exist. The individual must be eligible for an immediate annuity with 30 years of creditable service and a MRA of 55-57 based on the year of birth or 20 years of creditable service and 60 years of age.
As with any program or service impacting your retirement future, it is very important to clearly understand all provisions, rules and regulations. Further it is your responsibility to analyze each situation to see if it is a good fit for you and your family.
P. S. Always Remember to Share What You Know.
RELATED ARTICLES
