Returning to work

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Q. I’m not sure I’m tracking with the explanations of how part-time employment impacts retirement. I plan to retire at age 62 with 10 years of government service. I may have an opportunity to forego retirement and work three days per week with the same agency. If I choose to accept that offer, how will it impact my retirement?

A. You have three possibilities. First, you could retire, accept a job with the government, and have your salary reduced by the amount of your annuity. Second, you could simply switch to part-time employment and retire at a later date. Third, if your agency is willing, you could enter phased retirement on a half-time schedule, where you would have to spend at least 20 percent of your time in mentoring activities.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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