Largest Federal Employee Union Leader Rejects Budget Deal Targeting Federal Pensions

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Largest Federal Employee Union Leader Rejects Budget Deal Targeting Federal Pensions

 
AFGE logo. (PRNewsFoto/American Federation of Government Employees)

AFGE rejects notion that there should be trade-off between federal programs and federal employees

WASHINGTON, Dec. 10, 2013 /PRNewswire-USNewswire/ — American Federation of Government Employees National President J. David Cox Sr. issued the following statement in response to the budget deal announced today by the Budget Conference Committee:

“Despite the extraordinarily hard work of several Congressional leaders, AFGE cannot support any budget deal that asks for more from federal employees. AFGE represents more than just the 670,000 federal and D.C government employees on the rolls today, but every other federal worker who will one day take the oath and be forced to live with this needless pension cut.

“AFGE rejects the notion that there should be a trade-off between funding the programs to which federal employees have devoted their lives, and their own livelihoods. Though the $6 billion in increased retirement contributions for new employees is less severe than the administration’s $20 billion proposal, it is still unacceptable.

“Newly hired federal employees already pay 3.1% of their salaries toward their defined benefit pension and 6.2% to Social Security. Forcing employees hired after 2013 to pay an additional 1.3% — for a total of 4.4% — toward their pension will make it all but impossible for them to fund their Thrift Savings Plan accounts.  The result will be a serious shortfall in their retirement income security, and a substantial lowering of their standard of living. Continue reading “Largest Federal Employee Union Leader Rejects Budget Deal Targeting Federal Pensions”