As if the retirement crisis isn’t already bad enough, the budgetproposal set to be announced next week will end up cutting federal employees’ retirement programs.
A report by the Washington Post findsthat while the budget provides for a January 1.9 percent pay raisefor civilian workers and a 2.1 percent hike for servicemembers, itsretirement provisions will take away far more than it gives—or, asthe report says, “would give to federal employees with one hand,while taking away with five others.”
The pay increase itself for the civilians is modest, but thechanges to their retirement benefits aren’t—and they go in theopposite direction.
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