FERS system underfunding and new bill to change it

[fisherman]

I am not a federal worker or retiree but as many on this board are I thought this link might be of some interest:

Richard Burr, United States Senator of North Carolina: Press Releases

 

[donheff]

That just sounds like "the lets make sure we have a lousy Federal Retirement System Act." It doesn't actually address any problems with the FERS system (the DB portion of FERS is fully funded). It just eliminates the DB portion since he doesn't like all those perks for useless civil servants. It would constitute a substantial hidden pay cut for workers by eliminating the Government funded portion of FERS. But, of course, they would never be willing to admit that it was a cut in Federal employee compensation. We would continue to hear the same old rant about over payed bureaucrats.

 

[Telly]

" for new federal government hires starting in 2013"

"Current federal government employees and retirees would not be impacted by the changes in the Burr-Coburn bill."

Sounds fine to me, since it would apply only to new hires starting in 2013, if passed and made into law. So any prospective Federal employees would know what they are getting into before they start. I don't see it as a benefit cut, because before they accept the job, they have no benefit.

" But the only responsible thing to do is stop making irresponsible commitments and forcing future generations to pick up the tab,” said Dr. Coburn." WHAT A CONCEPT!!!

 

[Independent]

Sounds fine to me, since it would apply only to new hires starting in 2013, if passed and made into law. So any prospective Federal employees would know what they are getting into before they start. I don't see it as a benefit cut, because before they accept the job, they have no benefit.

" But the only responsible thing to do is stop making irresponsible commitments and forcing future generations to pick up the tab,” said Dr. Coburn." WHAT A CONCEPT!!!

I agree with this. I don't see it as a pay cut for existing workers, new workers can compare pay/benefits and make their own decisions.

Generally, I'd like to see gov't jobs put the benefits in visible dollars today so everybody has the same understanding of what they cost.