Benefits, Retirement on the Chopping Block?

In France this week people are rioting (well, at least acting up) protesting a number of things. Chief among them: A proposal that would raise the national retirement age from 60 to, brace yourself for this one, 62.

Oh, the humanity!

Of course there are other things that Parisians don’t like. Many in fact!

But raising the retirement age appears to be at the top of the I-hate-this list. (To confirm same, I have volunteered to spend an all-expenses-paid month in Paris to research the situation and report back my finding. My boss said “don’t hold your breath,” which I take as a good sign.)

Meantime, back in the US of A.

Lobbyists representing federal and postal workers expect the next couple of months, which include the November elections followed by a lame duck session of Congress, to have an unusually high number of soon-to-be-out of work politicians. This will be an interesting, potentially dangerous time for feds and the federal benefit package. Anything and everything could come up ranging from diet COLAs (cost of living adjustments) for retirees, to raising the retirement age to changing the retirement computation formula for the high-3 to highest-5 years of service.

The special presidential panel on deficit reduction could make a run at Social Security benefits for feds under the CSRS system.

Nobody should lose any sleep over what might/could, or might not, happen in coming months. But stay tuned because we live in interesting and fast-changing times.

To reach me: mcausey@federalnewsradio.com


Nearly Useless Factoid
by Suzanne Kubota

How hot is it? A Kentucky farmer says it’s so hot, his corn is popping in the field and he’s sent a photo of the burst kernels to the Kentucky Cooperative Extension Service to prove it. And it’s just in time for the 30th anniversary celebration of the Marion Popcorn Festival in Marion, Ohio which kicks off today, featuring a double elimination “Corn Hole Classic“.


OTHER PAY & BENEFITS NEWS

Buyouts trigger management exodus at Lockheed
Among the other headlines this morning on the Monday Morning Federal Newscast: Former OSC plea agreement in limbo, Hearings scheduled for OMB director nominee Lew. Learn more from the Morning Federal Newscast by clicking here.

ALSO ON FEDERAL NEWS RADIO
Which agency has the best overall location?
It’s time for a new category in our Best of the Federal Government series. Federal News Radio wants to know which federal agency has the best overall location? Nominate an agency today!

Dorobek Must Reads – September 8 Worried you’ll have no idea what people are talking about around the watercooler this morning? Each day, the DorobekInsider team collects a group of stories that we’re reading to stay in the know. Read more here.

Grassley: DoD IG’s lax oversight results in fraud Billions of taxpayer dollars could be at risk due to a lack of in-depth audits from the Pentagon’s Inspector General, according to an investigative report.

Federal checkbook balance off by $1.3 trillion? A federal watchdog group says it’s found more than $1.3 trillion worth of bad data on USASpending.gov.

Comments

Sign up for breaking news alerts