 ACTION ALERT ~~~~ ACTION NEEDED BY MEMBERS NASCOE Action Alert Alert Against HR 7 & HR3813 Take Action! Fighting for Employee Benefits Attached is the CAPWIZ Alert AGAINST HR-7/ HR-3813. HR-3813 is expected to be acted upon separately from HR-7 in the House and then combined into one package as HR-7 to be sent to the Senate. HR-3813 includes the following provisions: •Current CSRS & FERS employees will contribute 1.5% more to retirement (phased in over 3 years). FERS from 0.8% to 2.3%; CSRS from 7.0% to 8.5%. •FERS annuity supplement for those retiring before age 62 will be eliminated after 2012 for all employees. •For new hires and current employees with less than 5 years service (called "Secure Annuity Employee"), the retirement computation is changed to a high 5 average salary from a high 3 and their FERS retirement annuity formula is reduced to 0.7% times years of service rather than 1% times years of service (30% reduction). •Secure Annuity Employees (new hires and those with less than 5 years service) contribute 4% of salary to FERS retirement rather than 2.3% that all other FERS employees would pay under this bill (currently 0.8% of salary). These are extreme changes that affect all employees and need to be defeated! All NASCOE members need to send this Alert to Congress to oppose these provisions. CAP WIZ Coordinator _____________________________________________________ ACTION ALERT: TAKE ACTION!
|
||
