Which of the following best describes a phased-retirement program?
A) It refers to laying off older employees in small batches.
B) It refers to giving lucrative incentives to a large number of older employees to voluntarily retire.
C) It refers to reducing both the number of hours older employees work as well as the cost of these employees.
D) It refers to giving older employees a certain time limit to voluntarily retire.
E) It refers to offering alternative work locations and work responsibilities to older employees.

Question

Quizplus · Accepted Answer

A phased-retirement program is a gradual reduction in both the number of hours worked and the cost of compensation for older employees as they approach retirement. This allows for a more gradual transition into retirement, which can benefit both the employee and employer. Options A, B, D, and E do not accurately describe a phased-retirement program.

Which of the Following Best Describes a Phased-Retirement Program