PDA

View Full Version : Meltdown retirement blow is softer for lawmakers


CountryBoy
10-23-2008, 07:39 AM
No wonder we didn't get any response, but lip service form our elected Mowrons on the IFT reduction.

http://ap.google.com/article/ALeqM5hUXjoSNnkSb8lxZW82VAH0CJvgGgD93VOJNO1

Geez, who would've thunk that they are better than the rest of us riff raff.

CB
Silverbird
10-23-2008, 07:51 AM
They could have FERS and CSRS since the article says that more senior members may have a better program that doesn't include Social security. So may or may not be "special".
CountryBoy
10-23-2008, 07:56 AM
They could have FERS and CSRS since the article says that more senior members may have a better program that doesn't include Social security. So may or may not be "special".

Maybe.
wv-girl
10-23-2008, 08:40 AM
They could have FERS and CSRS since the article says that more senior members may have a better program that doesn't include Social security. So may or may not be "special".
I agree that they are speaking to CSRS and FERS given the 1984 date reference in the article.
Best believe that if "they" start messing with CSRS I'm ouuta here fast before anything takes effect. I have spend the last 33 years in CSRS and I certainly hope that they don't change horses in the middle of the race. I signed on as a CSRS employee and that is what I have worked and planned around.
My 2 cents.
nnuut
10-23-2008, 08:53 AM
I'm with you on that one wv-girl, if they threaten to reduce my upcoming retirement benifits I'm out of here in a flash!!:cool:
James48843
10-23-2008, 08:57 AM
Yes- Congress gets CSRS if they started prior to 1984., and an improved FERS program if they were first elected after 1984. The improvedment is that they can retire with an immediate FERS benefit at age 50 rather than 57, as the rest of us do.

But other than the early option- they are pretty much the standard FERS, with TSP matching, like the rest of us.
Frixxxx
10-23-2008, 10:18 AM
Yes- Congress gets CSRS if they started prior to 1984., and an improved FERS program if they were first elected after 1984. The improvedment is that they can retire with an immediate FERS benefit at age 50 rather than 57, as the rest of us do.

But other than the early option- they are pretty much the standard FERS, with TSP matching, like the rest of us.

GM employees get smacked with no matchin 401K contributions:

GM suspending benefits; buyouts 'well received'
Thursday October 23, 10:14 am ET
By Dan Strumpf, AP Auto Writer GM suspending some employee benefit programs, says white-collar buyouts 'well-received'

NEW YORK (AP) -- General Motors Corp. said Thursday it will suspend several benefit programs for salaried workers as it seeks to cut costs in the difficult auto market. The automaker will temporarily stop company matching of its 401(k) program as of Nov. 1, GM spokesman Tom Wilkinson said. It also will suspend tuition reimbursement and adoption assistance programs as of the end of this year, he said.

http://biz.yahoo.com/ap/081023/general_motors_labor.html