Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
Shows & Panels
Retirement applications tick up 24 percent in 2011
Friday - 2/10/2012, 9:35pm EST
Overall, 104,810 retirement applications were filed by federal employees in calendar-year 2011, according to numbers provided by OPM — a 24 percent increase over 2010 levels.
That year, 84,427 employees applied for retirement.
In fact, each month in 2011 saw more retirement applications filed than the comparable month in 2010, with the exception of one.
In particular, December, which is typically the calm before a storm of January retirements, was 49 percent above 2010 levels — 7,041 in 2011 compared to 4,726 in 2010.
That coupled with more than 21,000 retirement applications in the first month of 2012 has continued to put pressure on the Office of Personnel Management's backlogged pension-processing system.
Much of the uptick can likely be laid at the feet of the increased use of early retirement agencies offered last year. At least 21 agencies and departments offered early retirements or buyouts to employees in 2011.
Federal benefits expert Tammy Flanagan told In Depth with Francis Rose that fear — of changes being made to pay and retirement benefits — may also be driving up the number of retirement applications.
"Now that Congress is back to work and all these bills are being worked on ... there is a distinct possibility that there could be some changes and I think people are afraid of that, so they're getting out before those things might happen," she said.