Are You Ready?

By Tom Shoop

July 14, 2006

This week, Tammy Flanagan, the regular writer of this column, appeared at the Excellence in Government conference (co-sponsored by Government Executive) for a lively, informative session on the subject of "Retirement: Are You Ready?" She and Raymond Kirk, manager of the Benefits Officers Training and Development Group at the Office of Personnel Management, addressed a standing-room-only crowd of folks who clearly had the idea of preparing for life after government on their minds.

Kirk noted that there are now four recognized career stages: school/training; job; a high-activity life after retiring from a primary career; and full retirement. OPM surveys show that 60 percent of state, federal and local government employees work after initial retirement, he said.

Under orders from Congress to improve retirement financial literacy, OPM is pushing a three-part model involving wealth planning, networking and social engagement (that is, what you're going to do with your life after retirement), and overall health. Kirk handed out print copies of OPM's Retirement Readiness Questionnaire, which he said would be available in online form starting late this fall.

In her segment, Flanagan focused on three tips for federal employees in communicating with their agencies about retirement issues:

Next week, Flanagan will be back with a new column focusing on the issues that single people face in planning for retirement.

By Tom Shoop

July 14, 2006

http://www.govexec.com/pay-benefits/retirement-planning/2006/07/are-you-ready/22255/