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Phased Retirement Program Memorandum

August 19, 2014

MEMORANDUM

To: All U.S. Geological Survey Employees

From: Julie V. Wozniak //signed//, Deputy Associate Director for Human Capital

Subject: Phased Retirement Program

The purpose of this memorandum is to inform you that the Office of Personnel Management (OPM) has published the final regulations for Phased Retirement.

Before the program can be used by agencies, OPM needs to provide additional guidance. Also, the Department of the Interior (DOI) will need to make implementation decisions, to include identifying eligible jobs, determining mentoring activities, deciding how long an employee may remain on the program, and delegating the approval authority. The DOI strives to have the overarching guidance completed by April 10, 2015, at which time the system will be updated to begin to process applications.

There are a few known requirements to participate in Phased Retirement:

  • You must have worked full-time continuously the last 3 years prior to phased retirement,
  • You must be eligible for voluntary optional retirement
    Retirement System Age Years of Creditable Service
    FERS 55 – 57* 30
    FERS 60 20
    CSRS 55 30
    CSRS 60 20
    *Minimum Retirement Age depending on year of birth
  • You must work half time,
  • You must devote 20 percent of time to mentoring, and
  • You must have an agreement with the agency.

The OPM’s website includes Frequently Asked Questions on Phased Retirement. The final regulations may also be viewed on the Federal Register.

More information will be shared as it becomes available. If you have questions about Phased Retirement, please contact your servicing Benefits Specialist.



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