Senators Oppose Proposed OPM Retirement Cuts

June 15, 2018

Wednesday, 26 Senators sent a letter to Dr. Jeff Pon, the Director of the Office of Personnel Management, opposing the proposed retirement changes OPM sent to Speaker Ryan in early May.

           

Senator Mark Warner (D-VA), joined by a group of 24 other Democratic Senators and one Independent, has sent a letter to the Director of the Office of Personnel Management (OPM), Dr. Jeff Pon.  Last month, Director Pon transmitted language to Speaker Paul Ryan, that would be needed by Congress to implement through law the administration’s proposed retirement changes.  These devastating proposals include increasing FERS employee contributions by approximately 7 percent (translating into a substantial 7% pay cut for all current employees), eliminating the FERS supplement for employees who retire before age 62, including for CBP Officers and other employees subject to mandatory retirement, reducing monthly CSRS and FERS pensions by moving from a high-3 to a high-5 formula, eliminating cost-of-living-adjustments (COLAs) for all FERS retirees, and substantially reducing COLAs for CSRS retirees, threatening federal retiree income security. 

 

The letter, backed by NTEU, pokes holes in OPM’s assertions that federal compensation is higher than that provided in the private sector, and rightfully argues that the proposed cuts are instead about trying to balance the budget on the backs of federal employees.  The Senators also make the point that the retirement cut proposals would have a negative effect on the government’s ability to recruit and retain skilled professionals at federal agencies.  A copy of the letter is attached for your review.

 

NTEU will continue to work with our congressional allies to block advancement of these harmful retirement cuts.  To see what you can do, please visit.

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© 2016 by National Treasury Employees Union Chapter 137, Miami, FL

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