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Search Tags: early retirement
There was a time when no self-respecting federal worker would take an offer to retire early unless it was accompanied by a $25,000 buyout. But after two-plus years of a pay freeze and furloughs in the forecast, attitudes may have changed, Senior Correspondent Mike Causey says.
Active-duty and reserve soldiers with between 15 and 20 years of service could be eligible for early retirement, the Army announced this week. The service is offering temporary early retirement authority (TERA) to military officers who have not been selected to move on to the next grade as well as noncommissioned officers identified by selection boards for involuntary separation. The service aims to shed 80,000 soldiers from its active component by the end of 2017.
Avue Technologies Co-CEO Linda Rix, joins host Derrick Dortch to talk about what's ahead for federal human resources managers.
August 10, 2012
Tags: workforce issues , federal hiring , downsizing , brain drain , human resource management , human resources , Partnership for Pubic Service , Grant Thornton , Linda Rix , Avue Technologies , Derrick Dortch , Fed Access
While some federal agencies are offering buyouts ranging from $15,000 to $25,000, the giant Social Security Administration is trying a new approach: No Cal buyouts. Senior Correspondent Mike Causey says if they catch on, your agency may be next.
August is hot in DC, Atlanta, Houston, St. Louis and Cincinnati and lots of other places too. But those of us inside the Beltway get a break you don't...that's because for the next month...until after Labor Day, tens of thousands of the people who at times make this such a toxic town are away — back with the folks who sent them here in the first place.
It seems like every week another agency is offering employee buyouts and early retirements. But they're not designed to make you rich. So how do you decide when a buyout is right for you? The Federal Drive spoke with registered employee-benefits consultant Ed Zurndorfer to get some answers.
This year and the next could set a new record for federal retirements. Senior correspondent Mike Causey says that's good news if you are stuck on your agency's promotion ladder, but not so good news if it means finding a cookbook for ways to prepare cat food.
Experts have long predicted a federal retirement tsunami, and the steady uptick in retirement applications across 2011 appears to bear that out. 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.
The Navy has announced it plans to offer early retirements, following a panel's decision last year that targeted nearly 3,000 sailors for separation. The Navy's temporary early retirement authority will only apply to sailors with 15 years of service, who were not selected for retention by the 2012 Enlistment Retention Board, according to a Navy administrative message laying out official guidance about the early retirements.
Tammy Flanagan, the senior benefits director for the National Institute of Transition Planning, joined In Depth with Francis Rose to discuss the pros and cons of taking a buyout.