A bill under consideration Tuesday by the House Oversight and Government Reform Committee would force workers to pay 1.5 percent more toward their pensions over three years beginning in 2013. The bill is expected to pass the committee on a party-line vote, then move to the full House for consideration.
But the bill under consideration today is just one of several GOP proposals to curtail federal pay and benefits that is moving through the legislative process. Let’s briefly recap the bills under consideration:
1.) The Securing Annuities for Federal Employees Act of 2012: The bill would calculate federal retirement based on a federal employee’s highest five years of earnings instead of the current rate, which calculates the highest three years. The change would apply only to workers hired after this year and who do not have at least five years of previous federal service. Notably, lawmakers also would be included. The bill also would force pension contributions to rise 1.5 percent over three years and make other changes that would force many employees to pay more for a smaller retirement program. Sponsor: Rep. Dennis A. Ross (R-Fla.). Status: In committee, most likely headed for a full House vote.
3.) Extending the Federal Pay Freeze One More Year: The bill would extend a pay freeze for federal employees, congressional staffs and lawmakers for one more year, beginning in 2013. Sponsor: Rep. Sean Duffy (R-Wis.). Status: Passed the House last week.
Several other House and Senate proposals are out there, but not capturing as much attention as the bills above. Did we forget any big proposals? What do you think of them? Share your thoughts in the comments section below.
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