LEGISLATION TO SHIFT FROM HIGH-3 TO HIGH-5 INTRODUCED IN HOUSE – March 6, 2015
Legislation Introduced to Cut Federal Pensions
By Ian Smith, FedSmith
Freshman Representative Bruce Westerman (R-AR) introduced legislation (H.R. 1230) this week to use an employees’ high five earning years, instead of the current high three, to calculate pension benefits. FMA opposes this measure, which would take effect on January 1, 2017. The bill would save the government an estimated $3.1 billion over ten years.