The measure passed 219-208. All but 26 Republicans voted YES; every Democrat voted NO.
On Wednesday evening, March 25, the House of Representatives approved a budget bill that targets the earned health and retirement benefits of postal and federal employees. House Concurrent Resolution 27 passed the House by a 219-208 vote. The measure hits Federal Employee Retirement System (FERS) contributions, the Thrift Savings Plan (TSP), and the Federal Employees Health Benefits Program (FEHBP). In addition, the budget bill suggests changes to mail frequency and type of delivery.
Pensions: The budget bill proposes to require members of the federal and postal workforce who participate in the Federal Employees Retirement System (FERS) to make a greater annuity contribution. The budget bill assumes the
use of the equal-share proposal embraced in the 2010 National Commission on Fiscal Responsibility and Reform (aka Simpson-Bowles Commission); that is, a 6 percent contribution rate by FERS participants. Currently, most FERSparticipating NAPUS members contribute 0.8 percent towards their annuity.
Retirement Savings: The budget bill proposes to lower the interest rate earned on Thrift Savings Plan (TSP) contributions into the G-Fund. The G-Fund invests in special short-term Treasury securities. Since its inception in 1987, the GFund has earned an average annualized rate of return of 5.43 percent. The budget proposal would have the effect of reducing the rate of return to about 0.01 percent, according to the Federal Retirement Thrift Investment Board.
Health Benefits: A perennial cost-cutting proposal has been the replacement of the current Federal Employees Health Benefits Program (FEHBP) contribution formula with a fixed-dollar voucher, adjusted annually to the consumer price index (CPI). Presently, the employer contribution is based upon the weighted average premium of all FEHBP plans. As a result, health care inflation is taken into account when adjusting employee premium contributions. The net impact of the proposed change would be to shift about $127 billion, over the next
decade, from the government onto the backs of federal and postal employees and retirees. A second proposal that would impact FEHBP premium contributions is longevity-based retiree health plan contributions. And, finally,
the budget proposes that USPS contributions on behalf of its employees be the same level as provided to federal employees. Postmasters already pay the same share of premium as federal employees; so, this proposal would impact postal employees covered by collective-bargaining agreements that provide for a higher contribution level.
Postal Operations: The House budget proposal references the adoption of unspecified changes to the “frequency and type of delivery.” It should be assumed that the budget is promoting five-day delivery and a move towards
centralized or curbside residential mail delivery.
Late Thursday, the Senate was still considering its budget bill, Senate Concurrent Resolution 11. Senate Budget Committee Chair Michael Enzi (RWY) introduced it. Over 640 amendments to the bill were filed and we expect
votes on about one-quarter of them. Significant cuts are assumed in the Senate budget measure and would impact our benefits; however, the legislation did not identify those cuts.
Please link to the eNAPUS Legislative & Political Bulletin for more information.
who is stupid enough to put money in the G fund……….stock funds in TSP are tame (and lame) and only way to make money. if you bought 100 shares of apple in 1980 for $22.00 and never bought anymore and held on to it……….3 splits 2 for 1 and 6 months ago a 7-1 you would have 5600 shares now at $129 a share =$722,400.00. postal workers suffer from “fear of loss” as opposed to “opportunity to gain”………kind of like being stuck on the democrap plantation. who needs a crummy postal pension.
Sadly this is the result of elections where the person running for office starts off by announcing his/her candidacy with the establishment of a PAC. In other words “send money my way I can be purchased”. Have you ever heard of those elected saying, “I’d also, in solidarity like to cut my own pension, health benefits, etc. as long as I’m asking my constituents to have theirs cut.” NEVER!
TSP G account returns for the past 5 years are 2.18%. 3 years 1.89%. A case of twisting and turning facts to fit the attack on us, but not current reality. The Wall Street Boys are again involved. Lower the return and the G accounts will vacate, this is the widow and orphan (safe) investment. The Government had “borrowed” the TSP account money in the past, if there is nothing in the account where are they to go. Clinton increased retirement contributions a small percentage for a short term. This amount may push retirees to go on Medicare which may cost government even more in the long run. Why do people continue to vote in promising people who fail to sweep out the previous staff who may be lobbied to an extent they skew the information and support our newly elected official needs to make an informed decision. Just my thought on how the newly elected newbies are manipulated. Write your Senators and the President to keep this from happening.
Rebummlicans and management sucks. Buyouts a must.
Here we go again! The House wants to rape federal workers to
balance the budget because of the greed and filth of their wall
street buddies that went on for years without regulations. They
can’t control, rape, or pillage the private sector and their earnings
because their not part of the immediate family, not even cousins!
We on the other hand are, and must obey what big brother says
and does to us. Each one of those reps that voted for this is surely
missing a backbone by not being assertive in the condemnation of
this bill. It’s a blatant attack on federal workers and their families.
The fat cats in Washington have the federal worker to thank for the
daily function of government with none greater and more important
then the men and women who guard our borders keeping us safe.
This is the thanks that is given?? If anything they should be increasing
pay and benefits in favor of federal workers for their continued efforts
to provide support for this country. It is incredibly superficial for any
voted official of our government to turn their backs on their own. They
once again show us that the style of government they would prefer is
much in line with the ancient Romans who wanted nothing more then
to unfairly monetarily burden their own people for personal gain. Staying
on this path will drive out the educated skilled workers that currently are
working in federal jobs. Lower wages equates to the opposite filling these
positions. Such a dangerous scenario when we live in the times we do.
All I hear is wah wah wah. When in doubt blame republicans is not going to work anymore, your president wants this too look at his budget…
So you are saying don’t blame Republicans even tho only Republicans voted for it? How long have you worked for Fox News?
It just astounds me on how any working Americans can ever vote for a Ratpublican! Are they in a coma? Or are they brain dead? Do they desire to work for free? As long as they can buy guns and go to church they don’t care what happens to them! They are happy living in fantasy land. They don’t care that they are taking every one down with them!
Maybe they see what your boy has done/is doing with the help of trash like Reid and Pelosi. That should mean no one with a function brain would ever vote dimocrap again.
Republicans are now no different than Democrats… If retirements have been pre-funded for the next 100 years how then can it be rationalized to increase the employee contribution portion? It cannot. The G-Fund earns an annualized rate of 5.43% and they want to lower it? Ok the cost of food has risen 21%, the cost of homes has doubled and triple in the last decade but we are to accept that 5.43% is too high a rate of return? Instead of looking at us, you need to look at your own budgets. Harry Reed stays in a Ritz Carton Penthouse suit in Washington at a cost of 30K per month but only makes 200K per year. Stop raping an pillaging those who work to cover for those who refuse to work and cover your extravagance. We as the voting people need to recognize this is not a Democrat and Republican issue, the entire government system has been corrupted and broken. I, for one, am sure we are seeing the last days of our once great country.
Congress has most of the power, we the people have little. They want more money for national defense, tax breaks for those consider worthy, and more fat benefits for themselves… Therefore, the money comes from us.
Thiefs
Congress doesn’t care what law they pass, as long as it doesn’t apply to them. As for the postal workers, since the USPS doesn’t take a penny of taxpayer dollars we aren’t even paid by the federal government, and yet they want to slash our benefits as if that would make a difference in the federal budget. Just another example of the astounding stupidity that rules the USPS and apparently everything that applies to the USPS.
Keep voting Republican and see where it gets us? Dumb
Everyone of those lazy ass money hungry republicans got to where they are sometime in their family history on the backs of working America. How quickly all that power and money helps them forget what was left behind
If it says all federal and postal employees I say take it to the Supreme Court and make sure it includes congressmen also. I bet they would come in on a Saturday and make the needed changes immediately to exclude theirselves. And let’s see all the unions come together and push their preferences to who they back to every election support the non-incumbent running for office. 1 or 2 cycles of these changes should open the congressional’s eyes.
I wonder if the Senate will pass their version too, or will the attached amendments kill it? If it passes the Senate, then Obama will be the last step with a veto if he doesn’t agree to us over and sign the damn thing. Reducing the TSP to .01 percent will effectively make contributing pointless. Investors in the G fund like myself would have to look elsewhere like maybe a 401K or some other program and that’s going to be hard to do since I’m already 54. It may be best to get the damn thing out lump sum at 59 1/2 and try to find some fund somewhere that earns interest.
It could be incremental too, leaving the longest serving employees alone but screwing the younger and new carriers. Where is the NALC on this? If we lose this battle, I can tell you at NALC Headquarters to kiss my COLCPE contributions goodbye, and kiss a lot of members goodbye who will have had enough of your lousy excuse for representation.
Let’s keep voting for the holes who want to ruin us, regardless of party affiliation.
I have always said that republicans do not care about the man or woman who needs to hit the clock. Their only concerns are with the people who own the clock!! This is just the beginning.
Yah but my friends want me to vote republican…NOT
Why are so worried about our benefits dont they think….they are over payed and have too many benefits….thats why i always vote democrat
Take the senators retirement….and some of their pay
Now congress will be able to give the wealthy big tax cuts, while spending more on military toys. Next, congress will require federal employees to pay every week for the privilege of working for government agencies! Bring on a 50 gallon drum of Vaseline.
You get what you didn’t vote for. Maybe next election you will actually cast a ballot for someone who has the average persons interest at heart.
I’m with you too!
lets cut the benefits and pay of all congressmen! lets also cut the amount of “recesses” these losers get. wayyyyyyyy too many. screw them !
I totally agree with you
Here we go again…just offer carriers an early out who really want to retire!
The U.S. has spent $5 TRILLION in Iraq and Afghanistan, yet our returning troops can’t
get health care they need! If you’re gonna “eff” the postal workers, please donate my share to the VA! Yeah, go ahead and give yourselves another raise too while your at it!
Well this really isn’t a surprise….like I’ve said before time to replace and have a vote of THEIR earnings and years of tenure!!
Bathroom tyrant
I still blame the bathroom tyrant
Congress was fast dumb and happy when the USPS was sending millions every year into their coffers, since the USPS is non-profit and pays all its own expenses and doesn’t use one penny of taxpayers money. But now that the USPS is struggling, they want to put the screws to the postal workers. BOHICA!