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A phased retirement arrangement refers to the gradual reduction of work hours and responsibilities during a transition to full retirement. The main benefits are retaining valued employees, maintaining institutional knowledge, providing mentors for the next generation of leaders, fostering succession planning and helping new employees ascend the learning curve more rapidly. Many older workers need to continue working to meet their financial obligations and prefer to make a gradual shift from working full-time to retirement.
The Emory WorkLife Resource Center, in collaboration with Employee Relations, can provide assistance to managers and employees to setup a phased retirement plan.
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Sample Arrangement
An employee decides to retire within two years. However, he/she is anxious about abruptly leaving the University after 30 years of service. This employee could reduce their work hours leading to the actual retirement date. For example, in six months the employee could work four days per week, six months later the employee could work three days per week, and so on. This gradual transition to retirement lowers stress and anxiety, and allows the organization to retain institutional knowledge, as well as a solid training source for the employee that replaces the retiree.
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