We have recently started to receive a large number of questions regarding phased retirement.
On July 6, 2012, Public Law 112-141 was approved. This Law includes a phased retirement option which will allow retirement eligible Federal employees to partially retire while working part-time. This practice will encourage the most experienced Federal employees to extend their contributions to the Nation; and, help agencies improve continuity of operations by bolstering mentoring and knowledge retention programs.
Participation is entirely voluntary, and requires the mutual consent of both the employee and employing agency. In order to participate, an individual must have been employed on a full-time basis for the preceding three years. Under CSRS, the individual must be eligible for immediate retirement with at least 30 years of service at age 55, or with 20 years of service at age 60. Under FERS, the individual must be eligible for immediate retirement with at least 30 years of service at MRA (minimum retirement age 55-57 depending on year of birth), or with 20 years of service at age 60.
The FAQs, we posted in August 2012 provide the general outline on how the program will work. You can review those FAQs by clicking on this link. We continue to work with human resources and benefits officers from various agencies, along with our legal department here at OPM, to craft the regulation in support of PL 112-141. Implementation of the program is an important goal of OPM, and this will be accomplished as soon as possible.
We are committed to providing you information on our progress. Be sure and Follow us on Twitter for updates.