By SEAN REILLY |
Nealry 600,000 federal employees will be eligible to retire by 2017. (Chris Maddaloni / Army Times)
The percentage of federal workers eligible to retire will roughly double by 2017, underscoring the need for agencies to prepare for the loss of experienced, high-level staff, Government Accountability Office reviewers conclude in a newly issued report.
As of September 2012, about 14 percent (nearly 270,000) of some 2 million permanent career federal workers could trade a paycheck for a pension, the report says. By September 2017, about 31 percent (almost 600,000) will be able to leave.
Replacing those who retire “could be problematic given the era of flat or declining budgets that the government is experiencing,” according to the report. However, if agencies are able to recruit new employees, the retirements would give them the opportunity to reshape their workforce in accordance with current and future mission needs. Continue reading “Retirement wave gathering force”