Administration clarifies the intended destruction of federal employee retirement

Administration Adds Details to Benefit-Cutting Proposals

Snippet of Article: "...Elimination of Federal Employees’ Retirement System Annuity Supplements This proposal would amend section 8421 of title 5, United States Code, to eliminate the Federal Employees’ Retirement System (FERS) annuity supplement for new retirees and the supplementary annuity for survivor annuitants. The proposal retains language that requires OPM to apportion a FERS annuity ·supplement to a former spouse when a court order expressly divides a FERS annuity for purposes of annuitants who retain a FERS annuity supplement under prior provisions of section 8421. Also, the proposal retains language that requires OPM to reduce or eliminate an annuitant’s FERS annuity supplement based on earnings for those who retain FERS annuity supplements under prior provisions..."
Source: www.fedweek.com

FERS Annuity Supplement, SRS, Destruction of the working class, Destruction of the Federal Employees Retirement System,

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

Special Supplement for Federal Employees Under FERS

Snippet of Article: "...Now, one common misconception is that the Special Supplement is actually paid out by Social Security. In reality it’s actually paid out by the Office of Personnel Management (OPM) and receiving the Special Supplement does not reduce what you would draw from Social Security or force you to file for Social Security at age 62. How is the Special Supplement calculated?..."

Source: www.fedsmith.com

FERS annuity supplement, fers annuity supplement calculator,

The GOP is not a friend of the middle-class federal worker; more attacks on federal retirement

Article Title: Budget plan calls for $194 billion in unidentified cuts to federal workforce

Snippet of Article: "...a House budget resolution proposed increasing the employee share of pension contributions by 6 percentage points of salary, with an offsetting reduction in what agencies pay. That and ending a “special retirement supplement”..."

Source: www.washingtonpost.com federal retirement,SRS

The FERS Annuity Supplement

Article Title: The FERS Annuity Supplement

Snippet of Article: "...The special retirement supplement is paid in addition to gross monthly Federal Employees Retirement System (FERS) annuity benefits. It represents what you would receive for your FERS civilian service from the Social Security Administration (SSA) and is calculated as if you were eligible to receive SSA benefits on the day you retired. Eligibility ..."

Source: www.opm.gov

Computation of FERS annuity supplement

Article Title: FERS annuity supplement Computation

Snippet of Article: "...The FERS annuity supplement is computed as if you were age 62 and fully insured for a social security benefit when the supplement begins. OPM first estimates what your full career (40 years) social security benefit would be. Then we calculate the amount of your civilian service under FERS and reduce the estimated full career social security benefit accordingly. For example, if your estimated full career social security benefit would be $1,000 and you had worked 30 years under FERS, we would divide 30 by 40 (.75) and multiply ($1,000 x .75 = $750). The result would be your FERS annuity supplement, prior to any reductions...."

Source: www.opm.gov Computation of FERS annuity supplement