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Search Tags: payroll tax cut
The payroll tax cut deal made earlier this year included provisions to increase new federal employees' retirement contributions. We've posted a chart detailing how much employees and agencies will contribute.
Federal pension contributions would increase under a compromise deal to extend a payroll tax cut and pay for jobless benefits through 2012.
As a House-Senate conference committee continues negotiations over how to extend the payroll tax cut, ahead of a Feb. 29 deadline, there's at least one issue that has never left the table: federal pay and benefits. The eight House Republicans on the conference committee all voted in support of the stand-alone pay freeze bill. Of the five House Democrats, only Rep. Allyson Schwartz, of Pennsylvania, voted yes on the bill.
Lawmakers should keep their hands off federal employees' retirement plans, National Active and Retired Federal Employees Association Director of Retirement Benefit Services David Snell said at a hearing of the House Oversight and Government Reform Subcommittee on Federal Workforce, U.S. Postal Service and Labor Policy. The subcommittee is considering a slew of bills aimed at reducing federal pensions for both lawmakers and rank-and-file workers.
Tags: NARFE , David Snell , Congress , House , House Oversight and Government Reform Commitee , FERS , CSRS , Social Security , OPM , Emily Kopp , Stephen Lynch , Dennis Ross , Robert Dold , Tim Griffin , Mike Coffman
Meredith Shiner, Senate reporter at CQ Roll Call, tells In Depth with Francis Rose about what this extension means for you.