You mean you get CSRS AND Social Security?
Way to double dip on Uncle Sam! And you complain about the government?? You should be a true blue democrat.
And us FERS folks are paying for YOUR CSRS right now which is unfunded. So what are you complaining about?
And you get to retire in your mid 50s with full, unreduced benefits, whereas FERS folks have to work till nearly 60 to actually retire fully with a supplement that mimicks Social Security, otherwise we have to work till a minimum of 62 to get a reduced Social Security that we pay an extra several % for.
Jeeze, you got it soooo good from the gov't, I can't understand what it is you're complaining about.
CURRENTLY 50% C and 50% S (as of COB 04/18/2024) 2nd April IFT
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
Not sure why anyone is complaining right now.
Our retirement is still better then most outside business. That's one of the main reasons a lot of us stayed as Federal Employees, the pay sucked but the benefits made up for it. My understanding is the change in retirement is for new hires, at least for now.
Look CSRS vs. FERS has it's plus and minuses and we can all debate it. Can we all agree we have decent health insurance? Oh! Wait! They want to mess with that also.
I do agree with Norm about Social Security. I earned all my points working a part time job and because I have a Government pension I am going to be penalized on my SS.
May the force be with us.
here is the secret to life for 99% of the population: you work until you die. it has always been this way.
100g
Based on the info that is out there, it does not read that the changes are only for new hires.
The plan also eliminates cost of living adjustments for current and future FERS employees, and it would cut Civil Service Retirement System COLA adjustments by 0.5 percent. Unlike CSRS employees, FERS retirees receive Social Security benefits, which are adjusted for inflation each year.
Finally, the proposal would eliminate supplemental payments for FERS employees who retire before Social Security kicks in at age 62, beginning for those who retire in 2018.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
James - This is an interesting budget proposal by the White House; however, I would not get too excited at this point. Your final statement is correct. Congress has not passed a budget since 2009. I saw Senator Schumer and Congresswoman Pelosi on TV this morning. Both said the President's budget is DOA.
Current allocation: 90-L2030 10-L2050. Trust in God and keep your powder dry. Oliver Cromwell
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
This is supported by republicans in the House, the Senate , and the White House. It stands a very high chance of passing and adversely affecting current employees.
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And it will also be a hit on current retirees.
Trump's budget will immediately affect current CSRS retirees by reducing COLAs by .5 percent from what the current formula would yield -- and that will happen every year going forward. To put that in perspective, I retired 4 years ago, in two of the 3 COLAs I've received since, my retirement income from 35 1/2 yrs of federal work would have actually declined.
To get a sense for what has been going on with federal employee remuneration/retirement, I'll use my own example. Civilian federal salaries (except military) were frozen during my last 3 years. ... So in the past 6 COLAs, my income rose a total of 1.7% (you don't get the COLA your first retired year because you weren't retired). 1.7% over 6 years. That is not sustainable. By my figures, real inflation (what my non-discretionary costs of living have risen over that same timeframe) is more like 10% over that time-frame.
The COLA formula already is inadequate relative to real inflation. Arbitrarily reducing it by .5%every year will have a huge impact unless one doesn't live very long.
Why complain? One, it isn't just for new hires. It's not even just for new retirees. It affects current retirees as well, even CSRS retirees. In that sense, Congress is breaking the "contract" that was in place when many of us made the decision to stay and work for the feds right through to retirement. Many States have already done the same, which leads me to point 2. The long term trend. Not too long ago, most people who worked for an employer throughout a career received some form of pension as a benefit. That is no longer the case. ...... The trend is to lower everyone's boats -- except the owners. Instead of raising others up, we have been bringing everyone down both in wages and retirement benefits over the past 35-40 years.
Seems to me that that justifies concern (or as you called it, complaining).
From what I've gathered thus far, only the Ds are taking issue with this. The Rs are in control -- House, Senate, WH. Rs might not like everything in Trump's budget and will certainly make some changes, but haven't heard any of them protesting the proposed changes to federal benefits. This could have a huge impact -- especially on current employees, but also on current retirees.
Need to retitle this thread to "The End of Free Stuff" or "The Lifetime Guarantee" or "THEY Can Afford It".
Entitlement is not created when you first take a job, James. Think of a contract renewed annually. How about the business that failed just as some of its employees got so old no one would hire them. Because of government red tape yet.
In Nags Head you can find a wonderfully big City government building, being paid for by the businessman running a pier fishing business with broken down screen doors.
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