The congressional budget committees hope to soon issue their outlines for the upcoming fiscal year, a process that typically starts in the House. It’s widely expected that the document will repeat proposals of prior years, including last year, to require all federal employees to pay more toward their retirement benefits. Typically that provision doesn’t set a firm number but instead suggests setting the employee and employer contributions at equivalent levels. That would mean an increase of about 6 percentage points under both systems, except presumably for those under FERS hired since the end of 2012 who already are paying at higher rates than those hired previously—for them, the increase would be somewhat less. Leaders had hoped that the initial plan would have been drafted and put to a committee vote by now. However, the process has been hung up by a large group of House conservatives called the Republican Study Committee who want overall spending limits to be set below those contained in a late-2015 agreement.
|TSP||G Fund||F Fund||C Fund||S Fund||I Fund|