Close Close
ThinkAdvisor

Retirement Planning > Retirement Investing

Many Employers Explore Phased Retirement

X
Your article was successfully shared with the contacts you provided.

An increasing number of employers are thinking about adopting phased retirement programs.

Consultants at Hewitt Associates L.L.C., Lincolnshire, Ill., report that finding in a summary of results from a survey of about 140 large and midsize employers.

About 55% of the participating employers have weighed the impact that potential retirements could have on their organizations, and 61% have developed or expect to implement special efforts to hold onto targeted employees who are near retirement, the consultants report.

More on this topic

Hewitt found 47% of companies have some type of phased retirement arrangement available to employees, but just 5% have actually formalized those programs. Almost 40% are interested in establishing a phased retirement program in the future.

About 65% of the participants said their companies keep near-retirees by offering part-time employment year-round. In addition, 37% said giving near-retirement employees access to retirement benefits would help them keep employees on the job.

About 67% of the employers said phased retirement programs help workers by providing supplemental income, and 60% said the programs help workers by giving them access to employer-subsidized health care.