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Posted

I'm looking to find the specific names of companies that have implemented Phased Retirement Plans, specifically allowing in-service distributions from the existing defined benefit pension.  Googling has only turned up generic articles on the subject. 

Thank you in advance for your help.

Posted

I don't think that is a matter of public record. And personally, to me the idea that allowing in-service commencement from a DBP at age 62 is "Phased Retirement" is a joke. If you have specific coordinated options that help balance the pension income with reduced work schedule and pay and then further adjust or allow a new annuity starting date upon actual retirement at 65 or some later date, like SSNRA, then you might have a true phased retirement program. Maybe these exist in the government sector and/or the Fortune 500 type of pensions but I have yet to see anything I would truly call phased retirement. If you simply want a survey of DBPs that offer age 62 in-service, I don't know where or how you would get that, and now with BAMA allowing DB in-service at age 59 1/2, that universe is all likely to change anyway.

Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services

kprell@bpas.com

Posted

post script: It seems that the company names ARE a matter of public record. Some additional intense googling turned up:  West Bend Mutual Life Insurance Company, BASF, Avaya, Monsanto, PepsiCo and Lockheed Martin - all have found ways to work around the legal obstacles and offer phased retirement.

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