Phased Retirement Plan
Unused sick leave cannot be used in computing the Phased Retirement annuity. Upon full retirement, however, unused sick leave will be considered and its value will be the same as individuals retiring from full-time employment in the federal service.
Employees who opt to participate in Phased Retirement plan may return to full-time employment upon agency approval. When returning to full-time employment, the Phased Retirement plan annuity will cease.
When the individual retires, the retirement will be calculated under the current law in effect at the time and the phased period of retirement will be treated as part-time. Individuals returning to full-time employment may not re-enter the Phased Retirement Program.
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OTHER PHASED RETIREMENT RELATED ARTICLES