While approximately 60 percent of the federal workforce is eligible to retire within the next 10 years, just more than 400 federal employees have applied to the government’s phased retirement program, FederalNewsRadio.com reported Monday.
Phased retirement, which started in 2014, allows full-time federal employees to work part-time schedules while beginning to draw retirement benefits.
According to the Office of Personnel Management, the objective of the program is to allow federal managers to better provide unique mentoring opportunities for employees while increasing access to the decades of institutional knowledge and experience that retirees can provide.
As of Aug. 1, a total 417 employees have opted into the phased retirement program at their agencies, according to OPM data provided to Federal News Radio.