Benefits of Phased-In Retirement Programs
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  on pension plans.