Benefits of Phased-In Retirement Programs

A July 27 Wall Street Journal article, 'Phased Retirement Option for Workers Is Mainly a Boon for Their Employers,' generated a Web-based response from worldwide HR consultant Watson Wyatt [1].

The Journal commented that Watson Wyatt recommended phased-in retirement as a way for companies to reduce expenses.

However, Watson sees it differently. Specifically, phased retirement enables long-term employees to 'phase' into retirement through gradually reducing work hours--in certain cases, while collecting part of their pension check.

Phase-in programs are popular because employers need the workers and older employees often want to continue working beyond formal retirement at a somewhat shortened schedule.

For more information, visit this special Watson Wyatt Web page [2] on pension plans.