Issue: New government rules will let older employees work part time while receiving some of their pension benefits.
Benefit/risk: That could help you retain older employees but may heap large new administrative burdens on HR.
Action: Review the details and questions below to see if it's a good fit. If so, pitch your plan to the top brass as a retention strategy.
You soon will have the option of using a new benefit to help retain your most experienced employees. By the end of 2005, expect the IRS and the Treasury Department to issue final phased-retirement rules, which will allow older employees to work part time and receive benefits from their pension plans.
Your decision: Does the administrative headache and expense of establishing a phased-retirement plan outweigh the benefits?
"In addition to the obvious administrative challenges," says Hewitt consultant Ari Jacobs, "companies would need to create eli...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- 10 Secrets to an Effective Performance Review
- Ensure management training covers harassment
- GSA employees come up with $5 million in savings
- Is HR protected for refusing to follow biased orders?
- 8 smart strategies for surviving open enrollment