Should you offer a phased-retirement program? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
  • LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Should you offer a phased-retirement program?

Get PDF file

by on
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)

To read the rest of this article you must first register with your email address.

Email Address:

Leave a Comment

Previous post:

Next post: