Bill Would Repeal Recent Pension Contribution Hikes

Bill Would Repeal Recent Pension Contribution Hikes

By Eric Katz July 31, 2014

 

 

 

A new bill would walk back retirement pension contribution hikes for new federal employees, approved by Congress in recent years to address deficit concerns.

The legislation — introduced by Rep. Donna Edwards, D-Md., and cosponsored by Rep. Gerry Connolly, D-Va. — would repeal two separate increases on the amount federal workers must pay toward their pensions. A 2012 law to extend unemployment insurance forced employees hired in 2013 and those with less than five years of federal experience to pay an additional 2.3 percent for a total of 3.1 percent of each paycheck toward their defined benefit. The 2013 budget agreement required all employees hired after 2013 and with less than five years of federal experience to pay a total of 4.4 percent of their salaries toward their Federal Employees Retirement Systems accounts. Continue reading “Bill Would Repeal Recent Pension Contribution Hikes”

Head of largest federal employee union calls for repeal of pension cuts

FOR IMMEDIATE RELEASE:
February 19, 2014

Contact:Tim Kauffman
202-639-6405/202-374-6491
kaufft@afge.org

Head of largest federal employee union calls for repeal of pension cuts

Congress should follow repeal of military pension cut with reversal of federal pension hike

WASHINGTON – American Federation of Government Employees National President J. David Cox Sr. today called on lawmakers to repeal pension increases put in place for new federal employees, following on the successful rollback of pension cuts for military retirees.

“Slashing retirement benefits for military veterans under the guise of fiscal austerity was an error that Congress and the president rightly have corrected. Now it’s time to fix another mistake by repealing similar budget cuts targeting newly hired federal employees,” Cox said.

In the past two years, Congress has passed two measures as part of deficit reduction efforts that slash take-home pay for federal employees hired after 2012 by increasing their mandatory pension contributions. Continue reading “Head of largest federal employee union calls for repeal of pension cuts”