"For the estimate, CBO [the Congressional Budget Office] assumed that about 1,000 federal employees per year -- a mix of employees in the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS) -- would enter into phased retirement for a period of three years before fully retiring. During phased retirement, employees would move from a full-time to a part-time work schedule while also drawing a partial retirement benefit.... In addition, CBO estimates that [this bill] would increase revenues by $24 million over the 2013-2022 period [because] more contributions would be collected from a CSRS employee remaining employed while in phased retirement than would have been collected from a replacement employee covered by FERS."  MORE >>