NALC: Congress might try again to use our pensions to help pay for H.R. 7

Posted on by postal

From the NALC Activist Alert:

The NALC is on high alert as we await action as early as next week on H.R. 7, The American Energy and Infrastructure Jobs Act of 2012. Once again, it looks like the bill will be offset largely on the backs of current and future federal and postal employees. Initial reports indicate that they might use $30 billion from federal pensions hits to help pay for it.

While we have no firm details at this point on what exact hits will be included, those that have been raised include:

 

Current employees

  • Increasing pension contributions for FERS and CSRS employees 1.5 percent over three years, starting in 2013.
  • Eliminating the Social Security supplement for those who retire after 2012.
  • Reducing the multiplier from 1.1 percent to 1 percent per year of service when calculating the FERS annuity for those who retire at or after age 62, cutting benefits 9 percent from the current formula. (There is no change for those who retire under age 62.)

Future employees

  • Increasing pension contributions an additional 0.9 percent—this on top of the 2.3 percent that was included in the recent payroll tax extension, raising future hires from 0.8 percent to 4 percent in pension contributions.
  • Moving from a high-3 average salary to a high-5.
  • Using a multiplier of 0.7 percent per year of service when calculating the FERS annuity.

These provisions may change and, at this point, I am only asking that you continue to check your e-mail for action alerts as we monitor the situation. Your efforts will be critical as we move forward.

Thank you for your continued activism.

In Solidarity,

Fredric V. Rolando, President
National Association of Letter Carriers

5 thoughts on “NALC: Congress might try again to use our pensions to help pay for H.R. 7”

  1. Every new bill in the House that is authored by the Repubs is funded by stealing our FERS Retrement! Vote these Cowardly Repub Liars out of office in November!S*** on you A**holes that voted for these same Repubs.

  2. These F***ing A**hole Republicans in the House never give up.They just keep trying every few weeks to come up with new legislation to screw the Federal Workforce.The new thing now is to fund all these “feel good” help the American worker bullshit bills in Congress by funding every one of them by taking away our FERS Retirement.This is only the beginning of how they will screw us over as long as these Cowardly A**hole Liar Repubs are in Congress;many of you voted them in.You have just slit your own throat.Stop being in denial and blaming the Democrats by saying that they(Repubs) have to cut your FERS Retirement because the Democrats made them do this.F*** You!These Lazy Slovenly Republican Louts in Congress arenot going to steal my FERS Annuity Supplement.F*** them!…and F*** you for voting them into office you Ignorant Dopes!

  3. Why take away something you promised us when you hired us!!!!! As always the government screws you any way they can!!!! You want the highest paid employees gone but if you take away the supplement, there is no way we can go!!!! So you can just keep paying us the higher salary and suck it up!!!

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