Democratic Senators Demand OPM Reverse Course on Proposed Retirement Cuts
Last month, Pon asked House Speaker Paul Ryan to introduce legislation that would “bring federal benefits more in line with the private sector.” Proposed changes included eliminating Federal Employees Retirement System supplements for federal employees who retire before Social Security kicks in at age 62; changing the basis of retirees’ defined benefit annuity payments from their highest three years of salary to their highest five years; and increasing the amount federal employees contribute to FERS by 1 percentage point each year until they reach an overall contribution level of 7.25 percent, matching the government’s contribution.
Lawmakers offer to work with the administration on civil service reform if OPM Director Jeff Pon abandons push for “draconian” measures.
Source: Democratic Senators Demand OPM Reverse Course on Proposed Retirement Cuts
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