FEDweek

More Workers Approaching Retirement Eligibility

The federal work force continues to age, new Office of Personnel Management data show, with the average worker 46.7 years old, up from 43.8 in 1993. Length of service now averages 16.8 years, up from 14.9, according to the latest release of OPM’s statistical profile of federal workers.

The higher age and years of service combinations add up to more employees being eligible to retire, as well. Among those under the CSRS system, 27 percent are currently retirement-eligible, up from 10 percent in 1993. The percentage of those retirement-eligible under FERS is up to 11.4 percent from 4 percent in that time. Another 52 percent of CSRS employees and another 3 percent of FERS employees would be eligible for early-out retirement if offered.