House passes reconciliation bill that cuts federal employee retirement benefits Though Democrats were able to excise a plan to base federal retirees’ annuity payments on their highest five years ...

It might not seem like much of a difference by 20 years of service with a high-three average salary of $100,000 at 1.0% is $20,000/year, but at 1.1%, that would be $22,000/year. That’s $167 ...

The biggest change would be to raise the premium that many long-time federal and postal employees pay out of their salaries in the Federal Employee Retirement System. Under the current system ...

House GOP Retreats On Retirement Cuts After Backlash: Protections Restored, FERS Changes Pushed To 2028 In Latest Version Of Reconciliation Bill by Proiti Seal Acharya Benzinga Editor ...

The bill would change that to a federal employee’s highest five years of pay, with that provision starting in full on Jan. 1, 2027.

But the package advanced April 30 would have all employees pay 4.4%, which Committee Chair James Comer, R-Ky., said would ask workers to pay more and increase government revenue by $30.7 billion ...

House committee proposes plan to cut back on federal employee pensions The biggest change would be for employees to pay a higher retirement contribution rate of 4.4% of their salary, according to ...

The new proposal would raise the retirement contribution rate “up to the new rate of 4.4% of their salary,” according to Rep. Comer. Presently, more than half of federal employees are paying ...

Among the package’s provisions, the bill would raise FERS (Federal Employees Retirement System) employee contribution requirements, up to a higher, new rate of 4.4% of an employee’s salary.