OPM has released some new data regarding federal employees nearing retirement and it says that about one-third of federal employees are eligible in the next few years. It also highlighted the age gap between the workers. The numbers of federal workers under the age of 30 are about half the number of workers who have crossed the sixty-year mark. These figures clearly show that the agencies might be losing a lot of valued employees in the next few years. This can be a big blow for the federal agencies that are already facing problems in hiring and retaining a talented workforce.
The Data on Federal Employees Nearing Retirement
The data pertaining to the eligibility of federal employees for retirement was released by the Office of Personnel Management along with releasing the preliminary results of the 2016 Federal Employee Viewpoint Survey. OPM made it clear that the data is for permanent, non-postal, full-time as well as non-seasonal executive branch employees. As per the data about 31 percent of federal workers are eligible for retirement.
These figures revealed by OPM clearly mention what kind of employee shortage the agencies can expect in the upcoming years. OPM has already been dealing with the problem of talent shortage and it is evident that the agency would find it hard to seek replacements of the feds who choose to retire.
Though this data does not seem to be a proof of the long-standing warnings of the popular retirement wave, it clearly indicates that the government is top heavy with regard to its age profile. The data also highlights the fact that the government needs to be ready to deal with a constant flow of retirement in the next few years.
The Age Gap
Figures revealed by OPM also points out to the rising age gap between the feds. About 7 percent of the workers are under the age of 30 while the numbers of workers who have crossed over 60 are 13 percent, almost the double. About 32 percent of workers are between the ages of 50 to 59 while 26 percent are between 40 to 49. About 22 percent are between 30 to 39 years of age.
In another report released by OPM, it has been pointed out that the average age of retirement of federal employees under CSRS is 61.5 while the age is 60.8 under the FERS.