Phasing into retirement
Can I phase in right away? In North Carolina, a state employee who retires must wait six months before working for the state again. Many companies, like Monsanto, also require a separation from the company. Find out if your company requires a separation and for how long.
What will be expected of me? Find out what your new work responsibilities will be and how many hours you will be expected to put in. Chen recommends getting answers to these questions: How long does the arrangement last? Can either party terminate the agreement at any time? If I don't like phased retirement, can I go back to working full time?
Know that things won't be exactly the same. Phased retirement pays you bonuses in terms of free time. However, coworkers and managers may react negatively to your "double dipping," or receiving both a pension benefit and a paycheck. Also, you may lose some perks of a full-time employee. Be ready to give up your parking space and office, Allen says.
Enjoy the perks. Phasing into retirement gives you more time to take classes, get involved in civic activities, take adequate care of your health, and travel. Phased retirees in the University of North Carolina system who had their workload reduced by 50 percent reported that they had more time to spend with friends and family, engage in research or other creative scholarly activities, and volunteer in the community.
advertisement
