GOP proposes changing federal worker pensions

AP via SacBee ^ | 2/8/12 | JOAN LOWY, Associated Press

[SmithL]

WASHINGTON -- Federal employees would pay more toward their pensions and new employees would receive less generous retirement benefits under a House Republican plan to pay for highway programs.

The proposal, posted online Wednesday by the House Rules Committee, is intended to help make up a shortfall between federal gasoline tax revenues and the $260 billion that Republicans want to spend on highway construction and transit programs over the next four and a half years.

Under the proposal, the pension contributions of federal employees would increase a total of 1.5 percent over three years. New employees' retirement benefits would be calculated based on an average of an employee's past five years of earnings, instead of the current three years, among other changes. The savings to the government would be about $40 billion over 10 years, according to an estimate by the Congressional Budget Office in December of similar legislation.

Federal employee pay has already been frozen for two years to save money. The government is the nation's largest employer, with about 2 million civilian employees, according to the Bureau of Labor Statistics. About 85 percent of those work outside the Washington, D.C., metro area.

[SENTINEL]

Pension ? What the heck is a pension ?... Joe Taxpayer

[vette6387]

Republican math, save $40 billion over ten years so you can spend $260 billion over the next four and a half years! They ALL DON’T GET IT! We don’t want you to “save” over here so you can spend it over “there,” and spend more than you save. We want you to discontinue spending everywhere. What’s so difficult about that concept? I know, “we don’t have anything to do if we don’t spend.” Rick Perry was right, we need a part time federal legislature.

[bigredkitty1]

Better yet, every federal tick, I mean employee, gets their own 401k. As a taxpayer I fund it once and if the federal retirees outlive their money...so be it.

[Venturer]

First lets see the Congress cut their pension and retire on Social security, then let’s see tham place on the Obamacare Roster, then let’s see them cut their staffs in half.

The and only then will I be convinced they are serious.

[SeaHawkFan]

Need to eliminate the current retirement system, pro-rate the retirements of those in the systenm already, go to a defined contribution plan, and raise the minimum retirement age to 65. Also, eliminate double dipping.

Cap retirement pay at $50-60,000/ year. If federal employees don’t like it, they can quit.

[traditional1]

Amend that Legislation to remove Union representation from ALL Public Employees, and it would be a good start on controlling the extortion/money-laundering-to-DNC scheme that's causing us to go bankrupt, NOW.

Also, Repeal Davis-Bacon, while you're at it, and let competition flow and COSTS for Public-funded projects drop DRAMATICALLY.

[KantianBurke]

"We don’t want you to “save” over here so you can spend it over “there,” and spend more than you save. We want you to discontinue spending everywhere. What’s so difficult about that concept?"

Because the old folks will vote out any politician who even hints at reducing their government bennies.

This isn't about pension reform. This is about staving off the entitlement reforms as long as possible. Its only a matter of time before the military is pushed under the chopping block to accommodate seniors.

[org.whodat]

They will be serious when they change the retirement age to 68 for do nothing government employees. And no double dipping.

[therut]

This is all so sick. I am a Family Physician. I save every penny. I happen to be single and make about 130,000 a year before taxes. If I get 40,000 a year off my retirement and SS I will be luckey. Espically doubtful with the poor stock market we have been in since at least 2008. Why should some Federal Employee who I help pay all their benefits get so much for so little. Makes me ill.

[LibLieSlayer]

“Republicans want to spend”

That’s the danged problem right there!

LLS

[Iron Munro]

Notice how the republicans come up with ideas like this when the democrats are in power and there is no hope of getting anything passed into law?

But when the republicans had the majority and could have cut spending, built a border fence, passed a voter ID requirement, banned homos in the military, stopped Fanny Mae and Freddie Mac excesses, etc., they didn’t do anything but pass democrat policies into law, expand the socialist welfare state, feed their faces at the trough and engage in the same crony capitalism they now criticize.