Federal Managers Association
FMA is actively advocating to precent or reduce the cuts to federal retirement benefits explained below.
By Erich Wagner, Government Executive
House Republicans on Monday unveiled a series of changes to a bevy of proposed cuts to federal workers' retirement benefits aimed at making them more politically palatable following bipartisan backlash.
Last month, the House Oversight and Reform Committee advanced its portion of the House GOP’s budget reconciliation bill, which would cut federal spending to partially pay for tax cuts for the wealthy and increased immigration enforcement, including an array of proposals that, taken together, amount to requiring federal workers to pay more toward less generous retirement benefits.
The bill included provisions requiring employees hired prior to 2014, who had previously been exempted from that decade’s increase in how much feds must contribute toward their own retirement benefits, to pay 4.4% of their basic pay toward the Federal Employees Retirement System alongside more recent hires.
To read the full article, click here.