Minutiae or not? Posted February 27, 2020 Posted February 27, 2020 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.
CuseFan Posted February 27, 2020 Posted February 27, 2020 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
Minutiae or not? Posted February 27, 2020 Author Posted February 27, 2020 A long time ago I learned "if you don't ask, you don't get". Thank you.
Minutiae or not? Posted February 28, 2020 Author Posted February 28, 2020 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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