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- Moving to the Cloud. What's the best approach for me
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- Transformative Technology: Desktop Virtualization in Government
- Value of Health IT
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Monday - Friday, 4-7 p.m.
In Depth with Francis Rose features daily interviews with top government executives and contractors. Listen live from 4 to 7 p.m. or download his archived interviews below.
OMB budget guide details retirement contribution rates for future feds
Tuesday - 8/7/2012, 8:40am EDT
Under the Middle Class Tax Relief and Job Creation Act of 2012, feds hired after Dec. 30, 2012 and those with less than five years of previous federal service, will have to pay 2.3 percent more of their salaries toward their defined benefit pensions.
The Office of Management and Budget refers to these future feds as revised annuity employees (RAE). The chart below details the RAE and agency contributions. OMB released the chart as part of the OMB's A-11 budget guidance for agencies' fiscal 2014 budget requests.
|Retirement Groups||FERS Non-RAE Employees
|FERS RAE Employees
(hired after Dec. 30, 2012)
|Normal Cost||Employee Contribution||Employing Agency Contribution||Normal Cost||Employee Contribution||Employing Agency Contribution|
|Air Traffic Controller||27.3%||1.3%||26%||27.3%||3.6%||23.7%|
|Military Reserve Technicians||15.7%||0.8%||14.9%||15.7%||3.1%||12.6%|
|CIA Special Overseas||18%||1.3%||16.7%||18%||3.6%||14.4%|
|Members of Congress||19.6%||1.3%||18.3%||19.6%||3.1%||16.5%|