Federal Employee News

Friday, February 23, 2018

2019 Budget provides no raise, targets retirement benefits for federal employees

Budget provides no raise, targets retirement benefits for federal employees

Snippet of Article: "...Eliminating cost-of-living adjustments on the civil service annuities of those retired under FERS while reducing the adjustment by a half-percentage point for those retired under the older Civil Service Retirement System. For those retiring in 2019 and later, annuities would be based on the highest five consecutive salary years rather than the current three, and those retiring under FERS below age 62 would no longer receive a supplement that is paid until that age when they can collect Social Security...."

Source: www.washingtonpost.com