Q. I am eligible to retire under CSRS in September (age 55 with 30 years). Will phased retirement be in place for me to consider on or before that date?
Browsing: phased retirement
Q. I am 59 years old with 38 years in CSRS. I am planning to retire next year, but I am concerned about what changes Obama may make to CSRS now that he has been re-elected. Also, I am wondering what the guidelines are for phased retirement? Although there is no way to predict what a president might do, it’s not something you need to worry about. You are already eligible to retire and could do so before any change became effective. To find out more about phased retirement, go to www.opm.gov/Blogs/Retire/2012/9/25/Phased-Retirement.
Q. How many holidays would I receive under the phased retirement option? A. At present, no one knows how that will be handled. You’ll have to wait until 1) OPM issues detailed guidance, 2) you find out if your agency is interested in offering you an opportunity to participate and 3) assuming the agency was interested, what your work schedule would be.
Q. Who is eligible for phased retirement under the bill that Congress passed that will allow retirement-eligible federal employees to work part time? A. The law applies to anyone who has met the age and service requirements to retire on an unreduced annuity except for law enforcement officers — including Customs and Border Protection, Capitol Police and Supreme Court officers — firefighters, nuclear materials couriers and air traffic controllers, all of whom face a mandatory retirement age. However, the decision on whether to use the new authority rests solely with the employee’s agency.
Q. I’m considering taking phased retirement when it becomes available and if my agency approves. Will I still accrue eight hours of annual leave and four hours of sick leave if I’m working part-time, or will the accrual hours be reduced? How can I calculate three-fifths of salary and two-fifths of annuity so I have an estimate of what my monthly earnings would be in phased retirement? A. You’ll have to wait for answers until OPM publishes regulations and guidance.