Protect Our Retirement
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The president’s budget, which is strongly opposed by groups such as the National Active and Retired Federal Employees Association, contains the following provisions:
◾Cost-of-living allowances for current and future FERS retirees would be eliminated altogether.
◾COLAs for CSRS retirees would be reduced by 0.5 percent each year from what they would have been otherwise.
◾FERS employees would see employee contributions to their annuities increased by 1 percent each year for the next six years, without any corresponding benefit increase.
◾The FERS annuity supplement would be eliminated for new retirees starting in 2018.
◾Federal pensions would be based on the average of the highest five years of salary instead of the highest three.
These proposed changes would lessen the attractiveness of the overall compensation package provided by the federal government, hampering its ability to attract and retain a highly qualified workforce. Positions requiring professional and advanced degrees might become particularly difficult to fill, because federal workers with those qualifications already receive less compensation than their private-sector counterparts do.
Another argument against the president’s proposals is that they would reduce the amount of income that federal workers have to sustain themselves in their retirement years. Longer-term employees have already paid their share for their retirement benefits and are counting on them to support their retirement.
We made the choice to serve our country with the full understanding we would receive the benefits we signed up for. The current budget will negatively impact thousands of federal employees you represent. We, the undersigned, call on you to vote against these proposed retirement benefit changes in the 2018 budget.
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