Wave Of Retirements Hitting Federal Workforce | Roland Martin Reports

Wave Of Retirements Hitting Federal Workforce

Source: The Washington Post

A wave of retirements by senior federal employees has begun rolling across the government as aging baby boomers who held on to their jobs during the economic downturn are increasingly calling it quits.

With retirement accounts on the rebound, many veteran workers are finding little reason to remain in government, especially at a time when agency budgets are being slashed, workers are being furloughed and morale is tumbling.

The number of executive branch employees retiring this fiscal year, which ends next month, is on track to be nearly twice the total who retired in 2009, according to government figures. And the rate looks certain to accelerate. In 2000, about 94,000 people age 60 and older worked for the government. Last year, the number was 262,000.

The exits are helping to bring down the size of the federal payroll and — where funding is available — could afford agencies the chance to hire younger workers with crucial skills. The retirement of clerks could clear the way for experts in cybersecurity and information technology.

To read this article in its entirety visit The Washington Post.