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Thread: GOP Budget cuts Federal employee pay, retirement, and TSP

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    Default GOP Budget cuts Federal employee pay, retirement, and TSP

    House GOP Doubles Down on $300B in Federal Workforce, Pay Cuts

    By Eric Katz

    House Republicans doubled down on their plan to reduce the nation’s debt on the backs of federal employees, reissuing proposals in their fiscal 2017 budget plan that would dramatically cut the size of the federal workforce, as well as its pay and benefits.


    In a report on the fiscal 2017 blueprint approved by the House Budget Committee last week, lawmakers brought back virtually every provision that federal employee advocates and most Democratic lawmakers opposed in the previous iteration. Absent from the report -- which the committee approved in a 20-16 vote -- were specific savings estimates, though lawmakers speculated in their fiscal 2016 measure the savings from federal workforce cuts would amount to more than $280 billion over 10 years.


    Overall, the latest plan would slash non-Defense, discretionary spending at agencies by $887 billion below sequester levels through fiscal 2026. The Republican budget would call on agencies to meet those reductions in part by cutting their payrolls.
    Agencies would reduce their non-national security employees by 10 percent through attrition; as Republican budgets have for years demanded, agencies would fill just one out of every three vacancies created by employees leaving federal service.


    The Republican blueprint would require federal employees to contribute an equal amount to their pensions as do their agencies, effectively resulting in a pay cut of between 2 percent and 5 percent. Citing the National Commission on Fiscal Responsibility, or the Bowles-Simpson report, the committee recommended phasing out the defined benefit portion of feds’ retirement package altogether. Shifting to only a defined contribution system would bring federal workers in line with “the vast majority of private sector employees,” the lawmakers said.

    The plan would also phase out the Federal Employees Retirement System annuity supplement, designed to boost the Social Security benefit for young retirees. Republicans also backed reducing the rate of return on the Thrift Savings Plan’s most secure offering, the government securities (G) fund. Taken together, the committee estimated last year the pension reforms would save $127 billion over 10 years.


    More:
    House GOP Doubles Down on $300B in Federal Workforce, Pay Cuts - Pay & Benefits - GovExec.com


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    Default Re: GOP Budget cuts Federal employee pay, retirement, and TSP

    lead from the front, what a novel idea. they are just setting an example with us feds so the regular folks are conditioned for the similar cuts across all programs and spending that is going to happen once cruz and fiorina take hold of the reins. the bankers have us by the neck, on the hook for $19 trillion now, i hope we enjoyed spending it while it lasted, but the time to pay the piper is near. what better party to play one half of the villain for the bankers than the republican collection agents. after the other half of the villain (the democrats for exploding the debt in the last 7 years) was used to rack up the bill. and the beauty of the scam is both will blame each other and fight but all will pay. bankers are tricksters. money never sleeps (but you can sleep for money).

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  5. Default Re: GOP Budget cuts Federal employee pay, retirement, and TSP

    Quick target: people. Or, they could stop adding requirements.

    "To maintain and operate the JSF program over the course of its lifetime, the Pentagon will invest nearly $1 trillion, according to the Government Accountability Office (GAO)."

    If forced to cross thin ice; dance across.

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