It's unlikely any of us in the "Private" sector would have that opportunity. Employees who retire under their company sponsored Defined Benefit pension plans are not rehired by the same company. That's double dipping - employee salary + employee pension.
The only exception to that rule is when the employee is hired as a temporary private consultant or contractor.
We have a new Macomb County Executive (new position) who is doing the exact same thing. For years he served as a Macomb County sherrif officer, then was elected as the chief Macomb County Sherriff.
While county sheriff last year he ran for and was elected the Executive Comm position. He immediately retired from his sheriff's job, collected $376,000 lump sum payment (from the county) and started receiving his $74,000 retirement pension (from the county) along with his $139,000 salary as Exec. Comm (from the county).........
Again, no where in the private sector would this be allowed to happen......
People get contractual golden parachutes in the private sector all the time..