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Thread: Republicans vow to cut federal retirement as budget solution

  1. #13

    Default Re: Republicans vow to cut federal retirement as budget solution

    Quote Originally Posted by SkyPilot View Post
    It cannot happen unless the Senate and the President agree...
    If they actually do want, and intend to use our TSP Accts for our the debt situation, my opinion/idea is to roll my entire TSP Acct out to a Brokerage.

    I thought it'd be safer with the Gov., rather than a firm that could feasibly declare bankrupcy - but it would offer more investing flexibility additionally - as well as now perhaps stability for our CP!
    What do you think?? It can easily be rolled out - in whole, or in part.
    Is that meant to make us feel better? / Confident it won't happen?
    "That's as good as money sir, those are I.O.U.'s" - from: Dumb & Dumber

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  3. #14

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    Lightbulb Re: Republicans vow to cut federal retirement as budget solution

    Re(1):

    Here is the article...

    As far as contributing 6% of my salary to the FERS pension plan (we currently contibute a whopping 0.8%), I'm not for it. I would NOT contribute to something with cr@ppy 'G Fund' returns at my age. I'll gladly take the salary bump - which I could use to increase my TSP contributions. In funds of MY choice.

    I would gladly offer the gubmint the following deal.
    • Place my current 'holdings' in my TSP account.
    • DO NOT fund the pension
    • I WILL NOT take the pension.

    Sounds fair. I get a bump in TSP holdings and the Feds are off the hook for 20 years of pension funding and any pension liability. I bet we both come out ahead
    Lookin' up at the 'G Fund'!!!

  4.  
  5. #15

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    Default Re: Republicans vow to cut federal retirement as budget solution

    I would think the only fund that the government could get their hands on is the G fund and I think that would be difficult at best. The other funds are invested in various stock portfolios and if the government tried to grab the other funds it could have a pretty good impact on the market.
    May the force be with us.

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  7. #16

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    Default Re: Republicans vow to cut federal retirement as budget solution

    I really don't think they will do crap. When they take the surveys they will find they are getting a deal, paying the WORKING government workers what they get. The experience and quality of their work cannot be replaced by contractors without costing much more in the end. As far as benefits look at GM, what they are getting will be the least that Government workers will get. I don't think they will change a damn thing, they have already screwed us enough with FERS!



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  9. #17

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    Default Re: Republicans vow to cut federal retirement as budget solution

    NASA,

    My read is that they are talking about the pension portion of our retirement - not the 401(k) we call TSP. The scary thing is that the pension is merely a line item in the budget. It is not stored in a custodial account like TSP. Thus, it is in play for politicians. My guess is that they will jigger the formulas a bit. Yowser.

    And, NASA, the Treasury can perform machinations and 'borrow' off our 'G Fund' holdings. That ability has nothing to do with market impact - it has to do with the fact that the 'G Fund' bonds are Social Security bonds.
    Lookin' up at the 'G Fund'!!!

  10.  
  11. Default Re: Republicans vow to cut federal retirement as budget solution

    There is a good summary of the Republican plan at:http://www.federaltimes.com/article/...S01/104150301/ (I'm not sure whether it has evolved any since when the article was written.)

    I agree with Boghie that the plan appears to be dealing with the pension rather than the match to the TSP (though why would anybody think that is safe either?). So between social security and the federal pension, current federal workers would pay 12% of their salary towards retirement. By 2017, after 5 years with no salary increases and no step increases, I think people might be feeling it! But that seems to me an integral part of the plan -- make federal employment so financially unpalatable that current workers move on and, more importantly, the government has difficulty attracting competent new workers, will continue to decline in public respect and thus can be more easily downsized where it can finally be "drown in the bath tub."

    It seems to me that short of "town hall" rebellions such as occurred with respect to the more broadly felt cuts to Medicare, Republicans will be deaf to protestations of unfairness. I see that as a possibility in only a few districts. Does anyone have thoughts about how to influence Republicans in a more positive direction?

    Probably the more profitable approach is to encourage the Democrats in the Senate and President Obama to show some backbone on this issue. Is there any reason to be optimistic?


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  13. #19

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    Default Re: Republicans vow to cut federal retirement as budget solution

    Quote Originally Posted by NigelSt.Hubbins View Post
    .... Does anyone have thoughts about how to influence Republicans in a more positive direction?...

    You are joking, right?

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  15. #20

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    Default Re: Republicans vow to cut federal retirement as budget solution

    Quote Originally Posted by James48843 View Post
    You are joking, right?
    It's just as difficult as influencing Democrats in a more positive direction...
    Rules:
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  17. #21

    Default Re: Republicans vow to cut federal retirement as budget solution

    Quote Originally Posted by NigelSt.Hubbins View Post
    But that seems to me an integral part of the plan -- make federal employment so financially unpalatable that current workers move on and, more importantly, the government has difficulty attracting competent new workers, will continue to decline in public respect and thus can be more easily downsized where it can finally be "drown in the bath
    EXACTLY!
    this is what they did to air traffic control and what many states are doing to teachers!
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

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  19. #22

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    Default Re: Republicans vow to cut federal retirement as budget solution

    Quote Originally Posted by NigelSt.Hubbins View Post
    It seems to me that short of "town hall" rebellions such as occurred with respect to the more broadly felt cuts to Medicare, Republicans will be deaf to protestations of unfairness. I see that as a possibility in only a few districts. Does anyone have thoughts about how to influence Republicans in a more positive direction?

    Probably the more profitable approach is to encourage the Democrats in the Senate and President Obama to show some backbone on this issue. Is there any reason to be optimistic?
    Look at Libertarian, Constitution, or Tea Party leaning candidates. Sen. Rand Paul is a prime example of a Republican with major Tea Party, Constitutional and limited spending and government over tones. Right direction.
    Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."

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  21. #23

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    Default Re: Republicans vow to cut federal retirement as budget solution

    http://www.beltwaytalk.com is a good place to take this conversation.... :-)

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