7:18 am, May 30, 2015

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  • 13

  • Cuts on Federal Retirement
    Please clarify what is meant by the statement "It would also end the supplemental payment to early retirees".
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  • yes, thank you
    That is my question as well.
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  • Clarification: ending the supplemental payment to early retirees
    Emily Kopp
    Hi Becca and others. You can read the bill, HR 3813, at thomas.gov. Section 4 would eliminate the FERS minimum supplement for people not subject to mandatory retirement, beginning in 2013.
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  • ending supplimental payment to early retirees
    just to be clear, this would not affect me as a CSRS employee?
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  • Correct
    This affects FERS people retiring before age 62.
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  • congressional pensions
    Members of Congress should have one of the following options regarding their FERS retirement rules. I suggest special options for them because they like to be Special. For any member of Congress worth $250,000 or more per their public disclosure statement and effective their first swearing in date or, for re-elected members, their next swearing in date: (1) Opt completely out of FERS and, instead, pay only into Social Security and pay into the TSP with their Congressional salary funds; or (2) elect FERS as their retirement system but have their annuity caluclated on (a) their high 20 if in office 20 years or more; (b) their high 10 if in office 10-19 years; or (c) if less than 10 years in office, that number of years, not to be less than a high 5. If, during their tenure in office, they become worth $250,000 or more, these retirement plan options become effective as of the next swearing in date following the release of their most recent public disclosure statement. All of their perks should be considered taxable income, e.g., their free parking spaces at local airports. These changes would save American taxpayers considerable amounts and it would be from the backs of Members of Congress worth $250,000 or more.
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  • That is an awesome suggestion.
    Sunna W
    I am *so* tired of Congress sitting up there on the Hill with their FAT paychecks and cushy retirement plan chipping away at my benefits. We don't work for them, we work for Mr. Obama. It would be great, after his re-election, if he would just tell Congress to pound sand, and retroactively give us our COLAs we have missed and do something so that in the future Congress is unable to put the screws to our retirement plans -- which by the way -- most of us are in FERS, and, lost our shirts in TSP when the market tanked... so we got less than NADA...
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  • congress to apply these cuts to themselves also?
    What does it matter? They are already wealthy, why should they care about a cut in their pension? Unlike the rest of us who don't have millions in the bank or come from wealthy upper crust pedigreed families. What next - going to take away the feds right to vote? Well you'll be hearing from us if you republican good old boys think you are going to have a walk over in the next election.
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  • My favorite line from the article...
    "outraged by the pension benefits guaranteed to a federal workforce" as pensions become rarer in the private sector." Oh, the outrage...outrage born from ignorance and believing tegh blowhards in the media. Under FERS, if you work 25 years, you get approximatley 25% of your annual income per year in retirement. Hardly over generous. So, if others don't get the same, it must be "fair" to take it away from those that currently are eligible. Couple that with a disdain for medicare and social security, exacty how do these people think we will all fend for ourselves when we can't work anymore?
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  • pensions
    Get out and vote this November, and get everyone you know out to vote these anti-Feds out of office. That is the only way there will be any reprieve from this onslaught with their heavy weapon - power to do what they're doing. Most of the anti-feds are Republicans which includes Tea Partiers. You best believe we better keep Obama in office or all is truly lost.
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