$1$ Which statement best describes a phased$-$retirement program?

Multiple Choice

$00$:$29$:$26$

It refers to laying off older employees in small batches.

It refers to giving lucrative incentives to a large number of older employees to voluntarily retire.

It refers to reducing both the number of hours older employees work as well as the cost of these employees.

It refers to giving older employees a certain time limit to voluntarily retire.

It refers to offering alternative work locations and work responsibilities to older employees.