Analysis: Proposed federal retirement cuts often boil down to 'perception'

Friday - 1/27/2012, 6:23pm EST

Tammy Flanagan, senior benefits director, NITP

Download mp3

Congress is attempting to perform surgery on federal pay and benefits plan — again.

A bill, introduced by Rep. Dennis Ross (R-Fla.), would cut the starting benefits of future retirees and future cost-of-living adjustments for all retirees and survivors.

Tammy Flanagan, the senior benefits director for the National Institute of Transition Planning, joined In Depth with Francis Rose to discuss what these changes would mean for federal employees.

Flanagan discussed what a switch from a high-three annuity calculation to a high-five would look like for the average fed.

RELATED STORIES:

Lawmakers spar over proposed federal retirement cuts

The Biggest Loser - fed version