OPM Proposes Part-Time Employment for Older Feds Nearing Retirement as Way to Save Money
As part of the White House’s fiscal year 2013 budget released last week, the Office of Personnel Management (OPM) proposed a plan that would allow older federal employees to work part-time as a way to phase into retirement.
“Many individuals who are nearing the end of their working lives do not want to completely stop working, although they no longer wish to do so on a full-time basis,” the budget said.
The proposal would allow federal employees who are approaching retirement to continue working while receiving a partial annuity and earning additional retirement benefits based on their part-time employment.
The budget said that the proposal could save agencies $720 million over the next ten years by not having to immediately replace the employees and by postponing payment of retirement benefits.
Those employees who chose to phase into retirement would be required to mentor younger employees.
“This proposal will help encourage those individuals to continue working for the federal government and will enhance the attractiveness of late-career part-time employment, thereby facilitating continuity of operations and training of less experienced employees,” the budget said.
The White House’s fiscal year 2013 budget is available here.
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No matter your opinion of Napoleon Bonaparte, he was, without question, one of the best motivational leaders in the last 500 years. After destroying his army in Russia and being exiled to Elba he was able to raise a new army that threatened European Nobility for a second time. Even his enemies admired his ability to see beyond the moment and inspire the minds of those who would follow him. When Lord Wellington was asked who the best general of all time was, he responded, “undeniably, Napoleon Bonaparte.” To this day, we are still influenced by his genius in small and large ways. The suit coats men and women put on every day have buttons at the end of their sleeves. This superfluous item of fashion, invented by Napoleon, was designed to prevent troops from wiping their nose with their sleeve. And yet this minor invention of hygiene remains with us today. But our greatest lesson from Napoleon Bonaparte was his skill in leadership, a word not yet invented.
With all the talk on the Hill and at the Office of Personnel Management on federal workers’ insurance and retirement benefits options, it could be hard to understand how the different initiatives or legislative proposals will affect federal employees.