Instead of offering a bonus to get people to retire early, eliminate the minimum retirement age (and penalties) for individuals with 25 years or more in government service and that fall in the top 25% of their pay grade/band. This would offer savings not ony pay wise, but it would reduce the other benefits paid out such as the 1% of the individuals income paid to FERS by each agency.
Once an employee hits retirement age, it should be mandated that they go through a board review once or twice per year to ensure they are not "padding" their retirement and abusing the system.
We all understand how the retirement system works --- the higher your grade and step when you retire --- the more money you get. However, this creates a situation in which... more »