{"id":9184,"date":"2025-03-23T18:40:15","date_gmt":"2025-03-24T00:40:15","guid":{"rendered":"http:\/\/uawlocal2250.net\/live\/?p=9184"},"modified":"2025-03-23T18:42:05","modified_gmt":"2025-03-24T00:42:05","slug":"p2-phased-retirement-for-tier2progressive-members-a-new-trend","status":"publish","type":"post","link":"https:\/\/uawlocal2250.net\/live\/index.php\/2025\/03\/23\/p2-phased-retirement-for-tier2progressive-members-a-new-trend\/","title":{"rendered":"P2: Phased Retirement For Tier 2\/Progressive Members – A New Trend?"},"content":{"rendered":"

Yahoo Finance has published Boomers and Gen Xers are betting on a retirement “mega-trend” that could transform the workforce – and when employees leave their jobs<\/a>….<\/p>\n

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What is phased retirement?<\/h2>\n

Phased retirements aren’t unheard of. According to Principal Financial Group’s\u00a0Financial Well-Being Index<\/a>, 61% of companies\u2014mostly larger organizations\u2014have some experience in implementing them. But they are becoming more structured\u2014currently, only 16% of employers have experience with phased retirements on a regular basis\u2014as more employees voice how much they value flexibility, says Chris Littlefield, president of retirement and income solutions at Principal.<\/p>\n

The same report finds that “gradually decreasing hours” is the most desired way of retiring for current workers, particularly for Gen X, millennials, and\u00a0Gen Z<\/a>. Littlefield says\u00a0the shift is starting with Gen Xers<\/a>\u00a0because they’re the\u00a0first to have to rely primarily on 401(k)s<\/a>\u00a0and other forms of personal savings for retirement; they may not be able to afford a hard stop at 65, but they do want to take their foot off the gas a little bit.<\/p><\/blockquote>\n

Last November this site proposed a phased retirement for autoworkers called P2.\u00a0 You can read it here<\/a>…<\/p>\n

Those options may have just gotten fewer.\u00a0 A YouTube video by The Duke of Early Retirement takes a look at what the impact of the incoming Trump administration\u00a0promise to gut the Affordable Care Act (Obamacare) would have on folks retiring early<\/a>..\u00a0 This is important when considering the fact that the average retirement age is 62.\u00a0 Medicare doesn\u2019t start until 65.\u00a0 That leaves many retirees, including Tier 2\/In Progression members without retirement health care benefits to figure it out for themselves. Many folks are forced into early retirement by health issues, family obligations, or other concerns.<\/p>\n

Currently, the subsidized health insurance plans available under the Affordable Care Act are one of the best options to bridge the gap between early retirement and Medicare.\u00a0 What if a member that has family obligations could still work three days a week, bringing their experience and skills on a part-time basis?\u00a0 What if this member could still keep their health insurance?\u00a0 Now, that would be a life-changing benefit.\u00a0 Let\u2019s make PTWO (Part-Time on the Way Out) a reality next contract.\u00a0 Your ideas are welcome.<\/p><\/blockquote>\n

\"File:P2-LV.svg<\/p>\n","protected":false},"excerpt":{"rendered":"

Yahoo Finance has published Boomers and Gen Xers are betting on a retirement “mega-trend” that could transform the workforce – and when employees leave their jobs…. What is phased retirement? Phased retirements aren’t unheard of. According to Principal Financial Group’s\u00a0Financial Well-Being Index, 61% of companies\u2014mostly larger organizations\u2014have some experience in implementing them. But they are […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,17],"tags":[1115,1113,1114],"class_list":["post-9184","post","type-post","status-publish","format-standard","hentry","category-labor-news","category-union-contracts","tag-fairness","tag-phased-retirement","tag-tier2-progressive"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/posts\/9184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/comments?post=9184"}],"version-history":[{"count":2,"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/posts\/9184\/revisions"}],"predecessor-version":[{"id":9186,"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/posts\/9184\/revisions\/9186"}],"wp:attachment":[{"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/media?parent=9184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/categories?post=9184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uawlocal2250.net\/live\/index.php\/wp-json\/wp\/v2\/tags?post=9184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}