12:32 am, April 25, 2014

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  • Phased Retirement
    UmbratilisFed
    The Factsheet fails on so many levels it would have better not to write it at all. (1) It states that the primary reason for “phased” retirements is to ensure continuity of operations and facilitate knowledge transfer. This is bull. The main purpose is budgetary. Phased retirements cost less than the current alternative which is hiring consultants or rehiring retired Feds as consultants. If OPM’s statement were true, it points to the abject failure of the Federal work force to cross train employees under the current system; it assumes that the remaining work force is incompetent or untrained, and; it assumes that employees who have not passed on their knowledge in the past will do so in the future. (2) OPM explains the “concept” by asking the reader to assume impossibility. “Two half time employees that fill one job”. What in heaven’s name are they talking about? I think what they are trying to say is that if an employee meets the time in service and age requirements he can consider phased retirement. He must of course get his management’s concurrence. This alone makes the whole deal subject to the good old boy or girl system of preferred treatment to favored employees. Let’s assume this employee is eligible for a 50% retirement annuity. If he/she elects to take phased retirement, they will receive half of their annuity (25%) plus half of their old pay (50%) in exchange for working a 20 hour week. So, they are working for 75% of their old pay instead of the 50% they would have gotten if they retired. Essentially, they are working one half of their old work week for 25% more pay. (3) What does management do with this? Is a phased retiree considered a full time employee? Can management back fill a position if they retain a phased retiree? Who does the other half of the work? Is management expected to monitor a 20 hour work week? Will they be expected to monitor a phased retiree’s attempt to train? (4) OPM says they will implement the program as soon as they write regulations. For those who don’t understand the regulatory system, this process will take at least two years.
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  • Phased Retirement
    thehiker
    I am not sure why anybody in their right mind (or understands basic accounting) would ever accept a phased retirement position. Basically, they want you to work and take a 45-60% cut in benefits. Good luck with that!
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  • Devised by Dr. Benjamin Dover, Proctologist and Work-Releations expert.
    The Original Joe S
    ANYTHING they proffer is gonna hump you. Work from THAT angle. Then investigate, and validate the assumption of perfidy. ................................................................................................................................. Train your cheaper replacements? Let 'em learn like WE did: by doing for 30 years. Not in my mission statement to be a trainer. That'll cost you EXTRA for me to do an extra duty.
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  • Phased Retirement
    Eagle1
    Let me get this right, They want me to phase retire and draw half of my basic annuity. That would equate to 16% for 32 years service for FERS retirees! The CSRS retiree would receive 30% of their salary upon phase retirement. The special supplement is not included in the phase retirement calculation. The Special Supplement is part of my retirement package if I retire at my MRA with at least 30 years service. Why are they not including it in the phase retirement calculation? A FERS retiree would be stupid to take this offer. It might be a good deal for the CSRS retiree. Just my opinion!
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  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }