Federal Managers Association

In the News

• HOUSE PASSES LEGISLATION CALLING FOR INCREASES TO RETIREMENT CONTRIBUTIONS - May 11, 2012

• Houses passes bill to cut feds' take-home pay by 5%

  By Stephen Losey, Federal Times

  In a vote of 218-199, the House passed the Sequestration Replacement Act (H.R. 4966), calling for increases to federal employees' contributions to retirement plans. The legislation is in response to sequestration budget cuts expected to take place in January, and proposes alternatives to the $98 billion in across-the-board cuts, half of which will come from defense. The alternatives for sequestration, however, include dramatic changes to federal employees' benefits. Those enrolled in the Federal Employee Retirement System will see an increase from 0.8 percent to 5.8 percent, and those enrolled in the Civil Service Retirement System will see an increase from seven percent to twelve percent.

  To read the full article, please visit:http://www.federaltimes.com/article/20120510/BENEFITS01/205100305/1001.

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