What takes less than five minutes, but can make a difference for years to come?
Emailing your members of Congress to oppose the administration’s proposal cutting federal retirement benefits.
Here are five major changes that could reduce your retirement and take-home pay:
- Raising the required employee contribution toward the Federal Employee Retirement System (FERS) by almost seven percent for most employees translating into a major pay cut.
- Basing future retirement benefits on the average of the highest five years of salary instead of the current three, decreasing the value of an employee’s pension.
- Eliminating the FERS supplement for employees who retire before they can start collecting Social Security at age 62.
- Eliminating cost of living adjustments (COLA) for all current and future retirees covered by FERS.
- Reducing the COLA for Civil Service Retirement System (CSRS) current and future retirees by about .5 percent.
Fortunately, the president’s budget is not a done deal. Over the next few months, Congress will decide how to spend taxpayer dollars. Now is the time to contact your members of Congress and urge them to oppose these cuts and protect your future.
NTEU makes it easy. We have a message you can send and you don’t even need to know who your legislators are. All you need a mailing address, a phone or computer.
Reprinted from the NTEU Blog.