Budget-Cutting Options on Benefits Outlined

[swsop]

The Congressional Budget Office has released the latest in a series
of reports outlining possible savings in government programs,
including as before several possible cuts in federal health insurance
and retirement benefits. The report does not endorse making the
changes but Capitol Hill officials often turn to it for potential
savings because under congressional budget rules, the options count
as real savings. In each case, CBO noted arguments against making
such changes, primarily whether the changes would hamper employee
morale, the government's ability to recruit and retain quality
workers, and whether the government would be going back on promises
it made to employees and retirees.

Swsop

 

[sugarandspice]

Here's a snippet from that report

Restructure the government's matching contribution to the Thrift Savings Plan, a 401(k)-style retirement investment program for federal employees. Right now, FERS employees receive an automatic investment equal to 1 percent of salary from the government, a dollar-for-dollar match on the next 3 percent of salary they invest and 50 cents per dollar on the next 2 percent. Instead, agencies could give the first 1 percent, match the next 2 percent dollar-for-dollar, and then match 25 cents per dollar for up to 10 percent of contributions. These changes would save the government $2.1 billion over five years, CBO estimates.

Here's the link to it all;
http://www.govexec.com/dailyfed/0307/030107pb.htm

 

[James48843]

All of them - options which significantly reduce benefits for federal employees.

Why does this not surprise me coming from the Bush Administration?

 

[FUTURESTRADER]

Here's a snippet from that report

Restructure the government's matching contribution to the Thrift Savings Plan, a 401(k)-style retirement investment program for federal employees. Right now, FERS employees receive an automatic investment equal to 1 percent of salary from the government, a dollar-for-dollar match on the next 3 percent of salary they invest and 50 cents per dollar on the next 2 percent. Instead, agencies could give the first 1 percent, match the next 2 percent dollar-for-dollar, and then match 25 cents per dollar for up to 10 percent of contributions. These changes would save the government $2.1 billion over five years, CBO estimates.

Here's the link to it all;
http://www.govexec.com/dailyfed/0307/030107pb.htm

wow..$2.1 billion over five years....I'll say it again...$8 billion A WEEK for IRAQ