McCaskill and Manchin Want Taxpayers to Cover Miners’ Insolvent Pension Plans

[b23hqb]

They are talking about taking our CSRS COLAs as well, so don't think this is only a FERS problem.

And under CSRS we didn't pay SS and we earned 2% base pay per year up to 40 years. We were also eligible to retire a couple years earlier (55 with 30 years, vice 57). So add all that up and it's a much better deal, even at 7.5% paid in.

Actually, we got 1.5% for the first five, 1.75 for the next five, and 2% each year after on your high three. But not quibbling about that am I. . I still have a few friends under CSRS that have not retired yet, and a lot of friends and former work acquaintances that are still working and under FERS. One friend that retired with me chose to switch over to FERS from CSRS in 1984, and says it is working out for him OK. COLA to me is a moot point, nice, but doesn't really affect anything for me

I'm getting close to 72% of my high three, so I'm not complaining at all. It worked out pretty well for me.The SS I get is a pittance based on work years from 1970 - 1977, the result of losing 60% of the small amount I was scheduled to receive but washed out by CSRS work - I call it a penalty, SSA does not.

COLA is nice, but I never figured on counting on it for any reason.