Should you offer a phased-retirement program?

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in HR Management,Human Resources,Leaders & Managers,Management Training

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)

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