Fedweek

The CBO report (“Budget Options,” March 2000) also lists several potential changes to the retirement program, including deferring cost-of-living adjustments for civil service retirement system (CSRS) annuitants until age 62, limiting CSRS COLAs to a half percentage point below inflation, reducing COLAs for all middle and higher income retirees, and changing the salary used to set annuity rates from the highest three consecutive salary years to the highest four. It also raises the possibility of restricting and restructuring the government’s matching contributions to the Thrift Savings Plan for FERS employees. Check https://www.fedweek.com for pertinent details of this important CBO report.