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Search Tags: transportation bill
The Senate voted Wednesday to overhaul transportation programs and keep aid flowing to thousands of construction projects while strengthening highway. The $109 billion measure, approved in a 74-22 vote, included a number of amendments affecting federal pay and benefits, including a provision to allows "phased retirements" for federal employees and an expansion of an expired mass-transit subsidy.
The government's power to spend federal Highway Trust Fund money on transportation programs and to levy federal gas and diesel taxes that support the trust fund are due to expire March 31.
The current language of H.R. 3813 increases the CSRS and FERS employees' contribution to their retirements by 1.5 percent over three years. For individuals not subject to mandatory retirement who choose to retire on or after Jan. 1, 2013, the FERS minimum supplement is eliminated. Currently, the FERS minimum supplement is paid to those qualifying employees who retire prior to age 62.
Federal employees would pay more toward their pensions and new employees would receive less generous retirement benefits under a House Republican plan to pay for highway programs.