
Federal Managers Association
A bipartisan proposal would force Congress to confront Social Security's long-term finances, with significant implications for retirement planning under FERS.
Tammy Flanagan, Government Executive
This week, Sens. Tim Kaine, D-Va., Dick Durbin, D-Ill., Bill Cassidy, R-La., Thom Tillis, R-N.C., and Angus King, I-Maine, introduced a bipartisan proposal to encourage congressional action on Social Security: the Protecting Retirement Opportunities and Maintaining Income Security for Everyone, or PROMISE, Act.
The PROMISE Act tackles the long-term finances of Social Security's retirement program by moving reform out of endless discussion and into an actual legislative process. The bill itself does not raise payroll taxes, reduce benefits, change the retirement age or alter eligibility rules. Instead, it creates a framework in which those options, or some combination of them, could be evaluated, amended and put to a vote.
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