24 June 2018

Increased Retirement Contributions Would Save Billions

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A recent Congressional Budget Office analysis of the White House’s 2019 budget blueprint found that the proposal to increase federal employees’ share of contributions to their retirement would result in significant savings.

The portion of the budget proposal CBO was referring to would raise the employee share of contributions to the Federal Employees Retirement System (FERS) to 50% of cost, but phase it in over several years to mitigate the impact.

For certain categories of federal employees, such as law enforcement and firefighting, employee contributions would increase, but the government would continue to pay a higher share of the normal cost.

Click here for the original article from Fed Smith.

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