The Federal Government will Become America's Model Employer for the 21st Century.
Recruit, Retain and Honor a World-Class Workforce to Serve the American People.
Find out more about Federal compensation throughout your career and around the world.
Staffing to align with your agency's mission
Review the new 2014 Federal Employees' Group Life Insurance (FEGLI) Handbook
Answering your questions about Healthcare and Insurance
Congress approved a cost of living increase for Federal retirees.
Manage your retirement online.
Human Resources and Security Specialists should use this tool to determine the correct investigation level for any covered position within the U.S. Federal Government.
OPM’s Human Resources Solutions organization can help your agency answer this critically important question.
Developing senior leaders in the U.S. Government through Leadership for a Democratic Society, Custom Programs and Interagency Courses.
Visit this federal site to search for our regulatory notices, proposed and final rules.
See the latest tweets on our Twitter feed, like our Facebook pages, watch our YouTube videos, and page through our Flickr photos.
To understand the concept of Phased Retirement, consider two half-time employees who fill one full-time job. Employee one retires while employee two continues working. Employee one receives an annuity based on half-time employment, and employee two continues to work half-time for half-pay. Eventually, employee two retires, and receives an annuity based upon half-time service, including credit for the time worked after employee one retired. Now assume that employee one and employee two are the same person. That is in essence how Phased Retirement operates.
While there are additional computational details, these are the basics. At entry into Phased Retirement, the employee’s annuity will be completed as if fully retired and then divided by two. That annuity would be paid while the individual worked a half time schedule receiving half pay.
When the Phased Retiree fully retires, there will be a computation of the annuity that would be payable if the employee had been employed full time and then divided by two prior to adjustment for survivor benefits. That amount would then be added to the original Phased Retirement Annuity, and that combined amount would then provide the basis for survivor annuity adjustment and benefits.
The individual’s income during partial and full retirement appropriately reflects the individual’s situation. During the partial retirement period, the income will be between full retirement and full employment, and the Phased Retiree would be increasing their lifetime retirement income. At the time of full retirement, the individual would be appropriately compensated for the value of both full-time and part-time service, with an annuity greater than if they had fully retired at the time of transition to Phased Retirement, but less than if the individual had continued employment on a full-time basis during the period of Phased Retirement.
There was an unexpected error when performing your action.
Your error has been logged and the appropriate people notified. You may close this message and try your command again, perhaps after refreshing the page. If you continue to experience issues, please notify the site administrator.