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What is an example of a phased retirement plan?

Some examples of informal phased retirement plans may include: Encouraging and allowing full-time employees approaching retirement to work a part-time schedule until they formally retire. Rehiring retired long-time full-time employees to return to the company to work as part-time employees.

How does phased retirement work?

A phased retirement includes a broad range of employment arrangements that allow an employee who is approaching retirement age to continue working with a reduced workload, and eventually transition from full-time work to full-time retirement.

What is full retirement age if born in 1958?

If you were born in 1958 your full retirement age is 66 and 8 months (En espaol)

What does phase in retirement mean?

The four phases of retirement, then, are Transition, Active, Passive, and Final. Transition Phase. Transition begins with the first day of retirement and con- tinues for one to three years as you change your identity from. employed person to community volunteer, consultant, active.

What is a disadvantage of phased retirement?

Phased retirement has some potential drawbacks. Phased retirement could impact pension payouts. Rules vary from employer to employer. If your pension amount is based on your earnings, for example, then reducing your hours might also reduce your benefit. Not every retiree can opt for phased retirement.

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