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Deep State Witch

(11,817 posts)
5. They Forgot Screwing Federal Employees
Sat May 24, 2025, 04:56 PM
Saturday

Last month, the House Oversight and Reform Committee advanced its portion of the bill, which would cut federal spending to partially pay for tax cuts for the wealthy and increased immigration enforcement. The measure included provisions requiring employees previously exempted from higher Federal Employees Retirement System contribution rates enacted a decade ago to begin paying 4.4% of their basic pay toward their pensions, eliminating the FERS supplement for most federal workers who retire before Social Security kicks in at 62 and changing the formula that calculates a retiring employee’s annuity payment from an average of their highest three years of salary to one based on their highest five years.

It also would require new federal employees to choose between paying nearly 10% of their basic pay toward their FERS benefits or serving on an at-will basis with no civil service protections.

So, as a Fed who retired early, this will affect me directly for at least a year. I turn 62 in late November 2026. So, if they eliminate the offset, I'm out about $1500 a month.

Add to that, all of those people that took the Fork and retired before their minimum retirement age are going to get screwed.

https://www.govexec.com/pay-benefits/2025/05/house-passes-reconciliation-bill-cuts-federal-employee-retirement-benefits/405523/

Recommendations

2 members have recommended this reply (displayed in chronological order):

This bill will end our democratic form of government LetMyPeopleVote Saturday #1
Great summary flamingdem Saturday #2
What's this about VPNs? JoseBalow Saturday #4
posted this AM justaprogressive Saturday #3
They Forgot Screwing Federal Employees Deep State Witch Saturday #5
A slap in the face flamingdem Saturday #6
Latest Discussions»General Discussion»Ten Sneaky Sleeper Provis...»Reply #5