The show, which was previously announced in October along with comedy pilot "Hot in Cleveland," is TV Land's first foray into scripted comedy series and is being developed for TV Land PRIME.
"'Retired at 35' follows a successful businessman who decides to leave the rat race of New York City behind and move into his parents' Florida retirement home to reconnect with them, reevaluate his life and live the dream of retirement that so many are working towards," the network said in a release. "Segal will play the role of the father, who bonds with his son while showing him the glories of his new-found and liberated lifestyle."
Segal's TV credits include "Entourage," "Pushing Daisies" and "Just Shoot Me." On the big screen, he was an Oscar nominee for "Who's Afraid of Virginia Woolf?" and also starred in the movies "A Touch of Class," "The Owl and The Pussycat" and "Fun with Dick and Jane."