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Thread: The end of FERS Supplement - and other stuff

  1. #13

    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by nnuut View Post
    I had to wait to take my Social Security until I was 62, but I took it at 64 and 9 months why should FERS folks be able to retire early and get a subsidy? I paid 8% for the whole time into my retirement plan, you paid less than 1% I was CSRS and qualified for Social Security they cut my SSN by 60% when I retired, you FERS folks are complaining, what for?
    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 100% G (as of COB 06/22/2020) 4th June IFT

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  3. #14

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    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by FireWeatherMet View Post
    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.
    Yep, it's this 'I got mine, but don't want you to get yours' mentality that has turned me off of the selfish Republican mindset. No, doesn't mean that I have gone to the dark/Dem side either.
    Weatherweenie's Account Talk
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  5. #15

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    Default Re: The end of FERS Supplement - and other stuff

    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.

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  7. #16

    Default Re: The end of FERS Supplement - and other stuff

    here is the secret to life for 99% of the population: you work until you die. it has always been this way.
    100g

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  9. #17

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    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by nasa1974 View Post
    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.
    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
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  11. #18

    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by James48843 View Post
    Just in case anybody missed it last week- the Trump Administration proposal on Federal Employee retirement was released last week.

    It includes DOING AWAY WITH THE FERS SUPPLEMENT; Increasing FERS employee contribution from 0.8% to 7% over a number of years; and discussion of a completion removal of FERS altogether, with a replacement of a TSP-ONLY situation for new employees. In addition, FERS would be redesigned to eliminate any COST OF LIVING ADJUSTMENTS in the FERS retirement in the future, AND reduce CSRS Cost of Living Adjustments. All retirement calculations would be reduced based on a High-Five rather than the current High-Three.

    Some of the proposals, including the elimination of FERS Supplement, would take effect immediately- in 2018.

    Read more here:

    Trump?s 2018 Budget Reportedly Targets Federal Retirement Programs - Pay & Benefits - GovExec.com

    If you are a federal employee approaching retirement age, this will be a major, major hit if passed.
    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.
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  13. #19

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    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by Weather View Post
    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.
    Hopefully this is the case, that the budget is DOA. With Republicans in control, I will believe it's DOA when I see it.
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  15. #20

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    Default Re: The end of FERS Supplement - and other stuff

    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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  17. #21

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    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by James48843 View Post
    Just in case anybody missed it last week- the Trump Administration proposal on Federal Employee retirement was released last week.

    It includes DOING AWAY WITH THE FERS SUPPLEMENT; Increasing FERS employee contribution from 0.8% to 7% over a number of years; and discussion of a completion removal of FERS altogether, with a replacement of a TSP-ONLY situation for new employees. In addition, FERS would be redesigned to eliminate any COST OF LIVING ADJUSTMENTS in the FERS retirement in the future, AND reduce CSRS Cost of Living Adjustments. All retirement calculations would be reduced based on a High-Five rather than the current High-Three.

    Some of the proposals, including the elimination of FERS Supplement, would take effect immediately- in 2018.

    Read more here:

    Trump?s 2018 Budget Reportedly Targets Federal Retirement Programs - Pay & Benefits - GovExec.com

    If you are a federal employee approaching retirement age, this will be a major, major hit if passed.
    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.

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  19. #22

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    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by nasa1974 View Post
    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.
    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).

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  21. #23

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    Default Re: The end of FERS Supplement - and other stuff

    Quote Originally Posted by Weather View Post
    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.

    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.

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  23. #24

    Default Re: The end of FERS Supplement - and other stuff

    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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