May 18, 2009
Public employees delay retirement
The bleak economy is causing many state and government employees to postpone retirement plans, according to a national survey by the Center for State and Local Government Excellence.
In New York, declining rates of retirement could throw out of kilter budgets that assumed savings based on historic retirement rates. Governments can reduce spending if they leave a retiree's job vacant or fill it will a less senior employee.
The survey of government managers nationwide found: - 85 percent said employees are delaying retirements.
- 9 percent said employees are accelerating their retirements to avoid changes that will reduce benefits.
- 7 percent said employees are taking incentives for early retirement.
According to the survey, 49 percent of the respondents said at least 20 percent of their workforce is eligible to retire within the next five years. "There is a silver lining to the delayed retirements," said Elizabeth Kellar, executive director of the Center for State and Local Government Excellence, which sponsored the survey. "Governments have a lot of older workers who work in specialized fields and are hard to replace. Retaining these individuals a little longer gives us more time to help new employees prepare to fill their shoes." The center surveyed the 5,125 members of the International Public Management Association for Human Resources and the National Association of State Personnel Executives. About 460 members answered the electronic survey.
« Previous |
Main
| Next »
|
