Federal Retirement Cuts

[DoWhat]

https://federalnewsradio.com/retirem...tirement-cuts/

Passes House.

[DoWhat]

https://federalnewsradio.com/retirem...tirement-cuts/

Passes House.

Also found this:

Federal News Radio has fielded questions from many concerned federal employees and retirees who want to know how this process works, what it means and when they can expect to see possible changes take effect.

https://federalnewsradio.com/your-mo...ur-retirement/

[PeoplesElbow]

Not sure they can do much for existing employees. The FERS contribution for new employees has been bumped up twice since I started. Back when they started FERS they gave people on the existing CSRS system the option of switching or not. I know a couple dumbasses that switched over.

The part i don't understand is

A switch to a defined contribution pension plan for new federal employees.

that already exists in the TSP that is every bit as good as any 401k plan I have ever heard of anyone else having.

I somewhat agree with eliminating the supplemental payments for those that retire before 62.

[BOP]

Not sure they can do much for existing employees. The FERS contribution for new employees has been bumped up twice since I started. Back when they started FERS they gave people on the existing CSRS system the option of switching or not. I know a couple dumbasses that switched over.

The part i don't understand is that already exists in the TSP that is every bit as good as any 401k plan I have ever heard of anyone else having.

I somewhat agree with eliminating the supplemental payments for those that retire before 62.

In theory, a person could have around 40 years in the federal gov't by the time they're 62. I'm not sure what the point of forcing them to stick around longer than that would be.

[Hijinx]

You can bet your ass that Congress didn't cut the retirement for themselves.

[littlelady (Premo)]

You can bet your ass that Congress didn't cut the retirement for themselves.

Agree. And, because of Obamacare, USBank stopped providing health care for retirees. I have posted about this before. It is pretty much fuch the middle class that has to pay for degenerates. And, true Americans that have worked hard over the years, got fuched. Welcome to America.

[SamSpade]

I somewhat agree with eliminating the supplemental payments for those that retire before 62.

I actually thought that was either already gone or on the way out. However this does impact ME inasmuch as my immediate superior plans to retire early - and this could put an end to it.

While I support the idea - it sucks to do it to affect someone who's planned their retirement for decades only to have them change the rules at the last minute.

[LightRoasted]

If I may ...

While I support the idea - it sucks to do it to affect someone who's planned their retirement for decades only to have them change the rules at the last minute.

What congress giveth, congress can taketh away.

[PeoplesElbow]

I actually thought that was either already gone or on the way out. However this does impact ME inasmuch as my immediate superior plans to retire early - and this could put an end to it.

While I support the idea - it sucks to do it to affect someone who's planned their retirement for decades only to have them change the rules at the last minute.

Like one of the articles states, it does not say who these rules will affect. I see an exodus of people getting out while the getting is good.

I am sure there will be lawsuits etc. I signed on for a particular retirement plan, I am not sure they can change the terms that easily.

[BOP]

Like one of the articles states, it does not say who these rules will affect. I see an exodus of people getting out while the getting is good.

I am sure there will be lawsuits etc. I signed on for a particular retirement plan, I am not sure they can change the terms that easily.

Several people I work with have talked about pulling chocks, forthwith.