Government pensions among budget bargaining points: ‘Why does Congress always pick on federal employees?’

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Government employees would be required to contribute more towards their pensions while federal retirees would see their benefit cuts under a Republican proposal designed to offset the impact of sequestration.

Reps. Doug Lamborn, R-Colo. and Jim Bridenstine, R-Okla. have introduced the “Provide for the Common Defense Act” in an effort to roll back the Pentagon’s portion of sequestration through changes to federal benefits. The bill would also lower the federal deficit by some $200 billion over the next decade. Continue reading “Government pensions among budget bargaining points: ‘Why does Congress always pick on federal employees?’”

GOP bill would reduce federal retiree benefits to offset defense cuts

GOP bill would reduce federal retiree benefits to offset defense cuts

Published December 05, 2013

FoxNews.com

RTREIRE.jpgAn aerial view of the Pentagon building in Washington.Reuters

Two Republican lawmakers have introduced a proposal that would require federal employees to contribute more of their salary toward retiree benefits in order to offset deep cuts to the Defense Department.

The “Provide for the Common Defense Act,” introduced by Reps. Jim Bridenstine, R-Okla., and Doug Lamborn, R-Colo., would eliminate sequester-related budget cuts for the Pentagon over the next two years, the lawmakers said in a statement.

The legislation increases federal employee’s contributions toward their retirement costs, from 0.8 percent to 2.0 percent of pay, over a three-year period. The bill would also eliminate the Federal Employee Retirement System Annuity Supplement for new employees.   Continue reading “GOP bill would reduce federal retiree benefits to offset defense cuts”