Federal retirements hit seven-year low

Tuesday - 5/25/2010, 1:20pm EDT

As the economy collapsed last year, federal retirements dropped to their lowest level in seven years, according to statistics released Monday by the Office of Personnel Management. The Federal Times reports that OPM said 43,649 full-time permanent employees retired in fiscal 2009 - 27 percent fewer than OPM had projected would retire. Federal retirements haven't been that low since fiscal 2002, when 41,699 employees retired. OPM said it has not updated its retirement projections since January 2009. Last year, OPM projected that nearly 577,800 employees would retire by the end of fiscal 2018.

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