Civilian Department of Defense workers, who may be interested in “phasing into retirement,” can breathe a sigh of relief, as a long-awaited phased retirement program has become a reality, under a directive-type DOD memorandum, released June 21.
In August 2014, about two years after President Barack Obama signed a measure calling on federal agencies to offer a phased retirement program, the Office of Personnel Management issued a final rule establishing the federal government phased retirement program.
The phased retirement program allows full-time, retirement eligible DOD employees to voluntarily “request to work on a part-time basis and receive a portion of their retirement annuity,” the memo said.
Phased retirement program participants must have been full-time employees “for at least a consecutive 3 year period ending on the effective date of entry into phased retirement status,” and they must obtain consent from a DOD official, the memo said.
Employees under the phased retirement program are allowed to work 50 percent of the number of hours they were working immediately prior to entering the program, the memo said. Employees in the phased retirement status can be allowed to work over the 50 percent working schedule only in “rare and exceptional circumstances,” it said.
Also, “phasing” retirees are required to spend at least 20 percent of their working hours mentoring other employees, except during emergencies or other “unusual circumstances,” the memo said.
Eligibility for the phased retirement program is extended to civilian DOD workers, who meet age and service retirements under the Federal Employees Retirement System or the Civil Service Retirement System, the memo said.
On the other hand, the phased retirement program is not available for “employees who qualify for retirement under the special retirement program for law enforcement officers, firefighters, nuclear materials couriers, or air traffic controllers,” the memo said.
The DOD employs more than 700,000 civilian workers in the U.S. and abroad.
See related story, DOD Offering ‘Phased Retirement’ to Civilian Workers.
Design benefit plans and respond quickly and confidently to a range of potential issues with a free trial to the Benefits Practice Resource Center.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)