The Treasury Department and IRS have issued proposed regulations permitting private pension plans to begin pension payments to employees as part of a phased retirement program. The regulations would allow employees who are age 59½ to receive a pro rata portion of their pension annuity to the extent they choose to reduce their work as part of a bona fide phased retirement program.

The objective is to permit an employer to retain the services of an experienced employee, while also providing the employee with the opportunity to continue active employment at a level that also allows greater flexibility and time away from work.

Discuss this news item in the PayPerShop Forum

...back to 11 November 2004


Further information:
www.ustreas.gov/press/releases/js2094.htm
www.ustreas.gov/press/....pdf