Several members of Congress have declared the President’s proposed cuts to federal employee retirement “dead on arrival,” while at least one Republican has expressed more of an interest in developing a new system for prospective employees.
The annual winter presentation of the president’s budget is akin to other ancient rituals which have since lost their original purpose.
The Trump administration’s 2020 budget proposal for government spending gives a big boost to the Pentagon and other security-related agencies, while calling for a cut of more than $2.7 trillion in federal civilian spending over the next ten years.
The Trump administration for the third consecutive year has recommended cuts to federal employee retirement and health benefits as part of its 2020 budget request.
DoD says roughly 15,000 state-side personnel will receive cost of living adjustments in 2019, down from 28,000 this year.
Rep. Gerry Connolly (D-Va.) wants to find parity in annual cost-of-living-adjustments for participants in both the Federal Employee Retirement System (FERS) and Civil Service Retirement System (CSRS).
The metro Washington, D.C. area is now solidly blue and many local members of Congress will be eligible to lead committees that can affect active and retired government employees.
Military retirees will get a 2.8 percent increase in cost-of-living adjustment.
Regardless of which political party wins today’s midterm election, federal workers are in relatively good shape.
Thanks to the diet COLA rule, people who have already retired under FERS will be limited to a 2 percent COLA in 2019.