Federal Managers Association
Federal retirement has been a hot topic on Capitol Hill lately, with proposed changes sparking plenty of questions. Here’s a look at what’s on the table now.
Tammy Flanagan, Government Executive
Afew weeks ago, I wrote about the potential changes to federal retirement benefits that are included in proposed legislation that is moving through Congress. The key word is “proposed” because since that column, there have been some changes in the bill.
Little by little, the proposals have become somewhat less devastating and a little more fair to employees who have been planning for retirement and were worried about the rules changing at the last minute. One of the most disturbing things that have been haunting pre-retirees was the proposal to change the basis of the FERS retirement benefit from the “high-three average salary” to the “high-five.” Thankfully, that is gone and there is no longer anything to worry about for now on that topic.
To read the full article, click here.