As retirement applications surge, what should feds consider?

Friday - 2/10/2012, 6:57pm EST

Tammy Flanagan, senior benefits director, National Institute of Transition Planning

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Retirement requests are pouring into the Office of Personnel Management.

The Federal Times reported this week that 104,000 feds put in retirement applications in 2011, up from about 84,000 in 2010. But OPM isn't

But retirement from federal service is not just a policy matter — it's a decision that employees must make on their own.

Tammy Flanagan, the senior benefits director for the National Institute of Transition Planning, joined In Depth with Francis Rose to discuss how feds should prepare for retirement.

Flanagan also discussed whether there's actually a "best day to retire" as well as what to consider before taking a buyout. She also addressed how employees can plan for the retirement backlog that plagues OPM