There have always been some warnings that have been made regarding a federal retirement wave in the country since the very beginning. This is the process which involves a large amount of people that were born during the two decades between 1940 and 1960. As a part of this phenomenon, all these people will approach retirement eligibility within a very small tenure and will be taking a really substantial amount of institutional information out with them too.
Is the retirement wave of harm?
This idea has made the government think a lot and there have been hundreds of personnel policies and laws that have been designed to meet this retirement wave when it takes place. This also led the government to take initiatives that are going to force (or entice) employees to stay on their office tables and not just call it a quits. Surprisingly though, this all-anticipated wave is just passing by quietly and not causing any expected disruption.
This has been made possible by excellent efforts made by the office of personnel management. The latest data revealed by the organization depicts that there were over 68 thousand retirements made during the year 2014 (that reached an end last September). This meant that there was a rise of around 3 thousand from the fiscal year 2013 but a little bit below the level of 2012 by around 600.
This increase in retirements during the last four years represents the declined decisions made by officers that could have retired earlier but didn’t because of the 2008 economic downturn. The numbers are going to keep rising and it’s expected that there might be some issues that would be need to get dealt with in the years to come. Here’s hoping that things turn out the way we expect them to and this feared wave passes by without causing much disruption.