CONGRESSIONAL BUDGET OFFICE SCORES POSSIBLE CHANGES TO FEDERAL RETIREMENT BENEFITS - August 30, 2017
CBO Outlines Potential Changes to Federal Retirement Benefits
By Katherine McIntire Peters, Government Executive
Taxpayers spend more than $90 billion annually on retirement benefits for civilian workers, a figure that has made those benefits a prime target for Congressional budget cutters. A report released Tuesday by the Congressional Budget Office outlines some options lawmakers are considering as they seek to rein in costs.
Under pressure to reduce the federal budget deficit by $32 billion between fiscal 2017 and 2027, the House Oversight and Government Reform Committee earlier this summer asked CBO to evaluate the potential savings associated with changing the retirement system for most federal workers.