Federal Retirement Cuts

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Among the proposed reductions was changing the formula for calculating Civil Service Retirement System (CSRS) annuities from the average of the highest three salaried years to the highest five years. The Congressional Budget Office (CBO) projects that this change would save about $1.2 billion over a five-year period. Another recommendation proposed by the House Republican Leadership is to increase the retirement age of certain members of the federal workforce. Boehner and Cantor recommend no retirement benefits be available for federal employees until they reach age 62.

PostalReporter.com Blog 2009 June 15

Oh man they're gonna screw me big time. I had four years left. Not only am I going to be to forced to retire early, I will get my retirment slashed.

 

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They say it wont' get any traction but I don't know where they're gonna get us out of the deficit.

'em! I'll work here till I die!

 

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My dad is 58 and a Postal worker.

I'll have to ask him what his retirement plans are.

 

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My dad is 58 and a Postal worker.
I'll have to ask him what his retirement plans are.

I'll bet any kind of money he's thinking its time to retire. He better think hard and fast.

 

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I'm stuck.

I have no SSN coming to me (like thats gonna matter because they won't let you draw on it and retire now) and I'm only 51. I could retire early but for every year it is 2%. So even though I have 32 years in I would only get 60% percent of my check minus paying for health insurance. I can't live on that. I would need to find another job. So I might as well stick it out even if I would have to wait until 62 years old to start collecting. That's plane ed up!

 

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By the way this is republicans promoting this. Anybody please enlighten me why this would be a good right wing idea.