Obama Budget Would Hike Federal Employee Pension Contributions

And reduces payouts

The budget plan released by President Barack Obama on Wednesday includes a renewed proposal to hike the pension contributions of government employees, angering federal worker groups who say they're already being hit with furloughs and pay-rate freezes as Washington wrestles over spending.

The president's proposal would increase retirement contributions from federal employees from 0.8 percent of their paychecks up to 2 percent over the course of three years. The move would save $20 billion over the course of a decade, according to the budget blueprint.

"These changes are expected to neither negatively impact on [sic] the Administration's ability to manage its human resources, nor inhibit the Government's ability to serve the American people," the budget proposal states.

Comments

[buybuydandavis]

How about they join the Social Security system?

Oh, that's right, can't expect our rulers to live by the same laws we do. What was I thinking?

[Sterling Archer]

Federal Employees do contribute to SS. They have since the 80's. At least under the FERS system. Not sure about the old Civil Service System (SCRS).

[Libertarian]

At the risk of outing myself: CSRS does not contribute to SS. But in another 5 or 10 years, those folks under the old system (CSRS) will be, for the most part, retired.

[albo]

I pay SS plus 6.5 percent of income to my retirement. Why would anybody bitch about 2 percent? You're rolling in gravy and whipped cream and puppies at that rate.