What is phased retirement and how does it work for employees and employers?
Phased retirement is an arrangement that allows employees approaching retirement age to gradually reduce their work hours while drawing partial retirement benefits, usually keeping some employment relationship and benefits eligibility. The federal government offers a formal Phased Retirement Program for federal employees. Private employers structure phased retirement informally through reduced schedules, part-time arrangements, or consulting roles. The arrangement helps both employees who want to ease into retirement and employers who want to retain institutional knowledge during transition.
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