A budget deal announced this week in Congress sets funding levels for the next two years and eases some of the bite of sequestration. The pact restores $63 billion to agency spending through the end of fiscal 2015, split about evenly between Defense and civilian agencies.

But, the cuts come at the detriment of federal workers and some military retirees.

Newly hired federal workers will be required to contribute 4.4 percent of their salaries toward their pensions. Percentages will not increase for feds already on the job.

Cost-of-living adjustments for military retirees under age 62 would be equal to inflation minus 1 percent, which would be phased in gradually, according to the bill summary.

The deal also includes a provision allowing the Office of Personnel Management to offer a “self-plus-one” insurance option within the Federal Employees Health Benefits Program.

On this week’s edition of Your Turn, host Mike Causey discusses the budget deal with Jessica Klement, legislative director of the National Active and Retired Federal Employees group, and Sean Reilly and Andy Medici from the Federal Times.

Copyright © 2024 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.