Phased Retirements and the IT Brain Drain

Last week, I wrote about a recent study by Future Workplace that found that 77 percent of Baby Boomers and 82 percent of Gen Xers are expecting to work into their 70s. A bill Congress passed on Friday will give feds a new option for working those additional years or for simply transitioning into retirement: the ability to take a phased retirement.

Lawmakers approved a conference report on the Transportation authorization bill that would allow federal workers to receive partial annuities and earn additional retirement benefits proportional to the amount of time they work. Those workers also would be required to mentor younger, newer employees.

President Obama, who in February proposed phased retirements in his fiscal 2013 budget request, is expected to sign the legislation. The administration estimated the proposal would save $720 million over the next decade, in part by spacing out retirements and new hires.

With the high demand for cybersecurity experts and other IT professionals in the federal government, the phased retirement option could help agencies fill their workforce gaps and train up the next generation of cybersecurity and IT workers. What are your thoughts on the option for phased retirements? Will this help your agency cope with the pending brain drain?