A Tidal Wave Postponed: The Economy and Public Sector Retirements

Source: Center for State and Local Government Excellence, May 2009

From the summary:
A Center survey finds that the economic slump is pushing public sector employees to delay retirement.

The Center for State and Local Government Excellence conducted a survey among 5,125 members of two groups of government managers: the International Public Management Association for Human Resources (IPMA-HR), and the National Association of State Personnel Executives (NASPE). About 460 members responded to the electronic membership questionnaire. Some questions elicited more responses than others.

This survey finds:
– The slumping economy is holding back retirements among state and local government employees.
– Almost half (49 percent) of the respondents to the survey said 20 percent or more of their workers are eligible to retire in the next five years.
– An overwhelming majority of respondents (80 percent) said the economy is affecting the timing of retirements.
– 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.

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