News Release

Washington, D.C. -- A study that will look at retirement readiness of federal government employees will provide important insight into what further planning tools and educational materials are needed to prepare federal workers for retirement.

The U.S. Office of Personnel Management has contracted with the International Foundation for Retirement Education (InFRE), a non-profit foundation, to study and evaluate the current and future retirement readiness of federal employees, using a variety of demographic factors including age, income and geographic location.

"The President's commitment to a quality work force includes training and advancement opportunities, as well as a sound education on the financial considerations they should keep in mind as they prepare, as early in their careers as possible, for the day they retire," said OPM Director Kay Coles James. "Federal service is highly rewarding professionally, and with appropriate benefit planning, can provide for a sound retirement."

The study will be used by OPM to look at potential gaps in benefits services and education programs on retirement for government employees. And the study is yet another piece of the puzzle that, when its pay and benefits pieces are linked to form a fuller picture, advances President Bush's program to make federal public service an employer of choice among top job seekers.

The study by InFRE will provide employees, employers and Members of Congress with a clearer picture and better-defined understanding of what it means to be "retirement ready" and offer guidance for increasing the retirement security of federal employees.

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OPM oversees the federal work force and provides the American public with up-to-date employment information. OPM also supports U.S. agencies with personnel services and policy leadership including staffing tools, guidance on labor-management relations and programs to improve work force performance.

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