- Increase Federal Employee Retirement System (FERS) employee contributions from workers by 1 percentage point each year until they equal the government’s contribution. This would take five to six years and would result in increased out-of-pocket payments of about 6 percent over that period. Out-of-pocket payments by federal law enforcement officers would increase by the same amount, but would not equal the greater contributions from law enforcement agencies.
- Base future retirement benefits on the average of the high five years of salary instead of the current high three
- Eliminate cost of living adjustments (COLA) for current and future FERS employees
- Cut the COLA for Civil Service Retirement System (CSRS) employees by 0.5 percent from what the formula would allowed
- Eliminate supplement payments for FERS employees who retire beginning in 2018. The supplement approximates the value of Social Security benefits for those who retire before age 62.
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