Patrick owns a public accounting practice. He makes a plan with his oldest accountant to reduce her hours each year for the next three years until she retires. What separation term describes this example?
A) Retiree on call
B) Phased retirement
C) Pre-retirement schedule
D) Voluntary retirement
E) Involuntary retirement

Question

Quizplus · Accepted Answer

Phased retirement is a type of retirement where an employee gradually reduces their workload and hours before fully retiring. This allows for a smoother transition into retirement and can also benefit the employer by allowing for knowledge transfer and skills retention. In this example, Patrick is making a plan with his oldest accountant to reduce her hours each year for the next three years until she retires, which is an example of phased retirement.

Patrick Owns a Public Accounting Practice