Re: [TSP_Strategy] Re: Huge cuts "proposed" to Federal benefits

 

This should affect new employees and not those currently in service.  The benefits were laid out before we accepted these positions and were agreed to before I started employment with the Federal Government.  I left a lucrative finance gig to become an 1811 and as mentioned in an earlier post, I get the boot at 57 and cant work past that time so the SS supplement was part of my retirement strategy and what was promised.  I am really sick of trillions being given out in welfare programs and then we are seen as overpaid gov workers and a sacrificial lamb to give the appearance the government is saving money by cutting benefits.

On Wed, May 24, 2017 at 12:50 PM, mike8194@att.net [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

I don't disagree, but this impacts feds who were planning to retire in the next year or two, not to mention current retirees who have made plans based on the FERS pension they are vested in.  This is a political token move.  It does not represent significant savings.  I am fine with reform, but changing the rules in the middle of the game isn't right.  Had I been hired under a new program that would be one thing.  Even changing things prior to vesting is almost palatable, but these changes just are not right.  I really wouldn't mind paying a greater share fore the current plan (much like they have done to new hires in 2013 and 2014), but these changes substantially alter the plan (contract) we entered in to with he government.  I just don't see it passing in its current form. 

Not to mention, this hits special category employees pretty hard.  Special Category (LEO/FF/ATC) are required to retire at 57, and the supplement (SRS) bridges that gap until social security kicks in.  I can handle an increased contribution, and the COLA stings, but removing the supplement means that many LEO's will work an entire career and be forced to retire at 57, to then immediately go back to work outside the government or drastically reduce their standard of living.  These are stressful careers and have the age limitations for a reason.   

Like many others, I could have worked for other employers and probably made more money, but I chose government service for various reasons, but the stability and benefits played a large role.  They think they have a hard time now with attracting and retaining QAULITY candidates, morale, productivity, etc., lets see what happens if this passes. 

Mike 

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Posted by: GlobalTJB <globaltjb@gmail.com>

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