FEDERAL EMPLOYEE GROUPS RALLY AROUND PROPOSED ASSAULT ON COMPENSATION - May 18, 2018
Retirement assault unites feds
By Mike Causey, Federal News Radio
The White House has introduced a legislative plan that would drastically alter the Federal Employees Retirement System. The Reagan administration set up FERS and congressional Democrats supported it as an alternative to the costly Civil Service Retirement System. FERS gives retirees a much smaller civil service annuity and Social Security. Workers significantly help finance their retirement by contributing to the Thrift Savings Plan, which is the government version of a 401k plan with a very generous employer match of up to 5 percent.