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swsop

swsop

Member
Has anyone heard any news on this? My supervisor just emailed this out for anyone who is able to retire under FERS!!!!

The supplemental that you usually receive until the age of 62 will stop at the end of this year.

Based on retirement specialists….If you can retire in FERS you should by the of the year. The amount you receive will be much better this year than after 1 January 2013.
 
I believe they were talking about this as well as a number of other cuts. I believe cutting the SS Supplement was going to be for NEW hires. But don't hold me to this!!!
 
eLIMNINATION OF FERS SUPPLEMENT is one of the republican proposals to slash federal employee pay and retirement benefits, but it is not yet law. It's passed the House but not the Senate.

Please go read the thread titled "and the HITS just keep on coming".

I did a write up on on it months ago.

No, it's not yet law.

Yes, it is in multiple-proposals.

Yes, it is likely to eventually pass, along with a number of other retirement related cuts, and yes, it is likely to affect us all, but NO, it is not the law today.

Go read that thread to stay current.

And are you just now waking up? Good. Start paying attention, because the Congress-critters are trying to cut/slash/decimate all kinds of employee stuff right now. Please pay attention and get involved.
 
I think the decision has been kick down the road to June, the elimination of FERS supplement (HR3830)is written into a bill to fund the transportation bill to improve our highways. The money isn't even going to help reduce the deficit. I have written my congressmen and their response is the promises made can not be sustained and it will affect their benefits also, even though lawmakers FERS annuity is more than triple the normal FERS annuity.

I have recently read local representatives who ran on no earmarks are reconsidering as there will be highway money coming soon to the states to improve rural areas. I may retire end of July if this FERS supplement deal happens as there will be a big increase in retirees at the end of the year. I have notice an increase in executive leaders in our agency retiring the past few months, not sure what that is about.

Of course the bill is written that mandatory, law enforcement and fire fighters will be exempt, the elimination will just be for non-mandatory federal employees. I would be more understanding if the lawmakers were really doing the right things to reduce the deficit, but again the federal employees have been made the sacrificial lamb while the banksters in wallstreet get richer and the middle class disappears...................bj
 
swsop said:
Has anyone heard any news on this? My supervisor just emailed this out for anyone who is able to retire under FERS!!!!

The supplemental that you usually receive until the age of 62 will stop at the end of this year.

Based on retirement specialists….If you can retire in FERS you should by the of the year. The amount you receive will be much better this year than after 1 January 2013.
Click to expand...


This is the Bill you are talking about: Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress):

It has been attached to the Transportation Bill. YOu and everyone you work with needs to call Congressman Dennis Ross. He is the one that presented the Bill. Here is his contact info:
District Office
170 Fitzgerald Road, Suite 1
Lakeland, FL 33813
Phone: (863) 644-8215
Fax: (863) 648-0749
Hours: Monday-Friday 9:00AM-4:00PM .

Washington DC Office
404 Cannon HOB
Washington, DC 20515
Phone: (202) 225-1252
Fax: (202) 226-0585
Hours: Monday-Friday 9:00AM-5:00PM
Congressman Dennis Ross

Have your facts together when you call them and tell whomever you talk to that you are opposed to this bill, but don't end it there tell them why you are against the bill. Go in to detail about how it is WRONG to be Breaking a Promise that was made to us when we where hired so many years ago. Tell them how it will be taking about $800 - $900 out of your expected retirement. Tell them any changes to the FERS system should affect only new hires not those that are already in the system. They Really Do NOt Care that they are Hurting those that are retiring in the next few years. Here is the Law That Covers Federal Retirement:
http://www.ssa.gov/OP_Home/comp2/D-USC-05.html
Read it and have your Fact Together. They do not even know what the Law Says.
Please pass this infor to others you work with.


 
I was unable to display the "Bill Text" link... Don't know if it is just me. Thank you for posting this...
 
Should probably be cross-posted in SS and Military Retirement subforums also since this article speaks to any of us that are or will be in any of those systems, but will let someone else make that call....

The Next Pension Funding Battle: Retired Americans Versus The US Military - Business Insider I could put my tinfoil hat on and suspect that the proposed bump in FERS mandatory savings will be borrowed to help keep Military Retirement Fund afloat as long as possible. The MRF calculations rely on a 5.7% interest rate on Treasuries-aint happening, people. Will have to come from somewhere else if the MRF is to meet its legal obligations.
 
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