With constant chatter about federal pensions disappearing, I often worry how that will affect me. I plan to start working under FERS in the next few years and after buying my military time back I will be very close to hitting the 5 year point where you become vested (and yes the FERS handbook confirms military time bought back counts towards vesting).
My question is what happens after someone is vested if they change how the system works? Do your vested year benefits remain the same or can they change everything? It makes it very difficult to plan for ER if I think I have a certain benefit earned but they can take it away at any point.
Thoughts?
My question is what happens after someone is vested if they change how the system works? Do your vested year benefits remain the same or can they change everything? It makes it very difficult to plan for ER if I think I have a certain benefit earned but they can take it away at any point.
Thoughts?