That is a trade off gov workers need to make. Do you all share the cuts, or do you preserve your salaries and benefits and fire all the young workers thru reduction in force (seniority system). Europe is more austere. At least in the US gov retiree still keep their pension amounts while new workers will have to accept new lower benefits. In Europe the budget shortfalls are so great, retirees have their pension checks cut in half. Be grateful that in the US gov workers have not faced this yet. If the economy does not pick up and pension fund shortfalls grows, prospect of retirees as well as workers take a hit at the same time may become a reality.
I work as a private parochial school teacher, so I fail to see why I should be thankful that the government feels it doesn’t have to do more with less.
Heaven knows the rest of us have.
Fed government employees already went from a system of guaranteed retirement funds to the FERS system about 30 or so years ago. FERS Is based on a three tiered plan which includes SS, a 401k and a smaller pension.