That’s good advice for federal employees and retirees who are getting worried about the real and perceived threats to their benefits.
It seems that almost every week, someone new is recommending cuts to federal employee and retiree benefits. First, it was John Boehner, well before he was Speaker of the House, who recommended eliminating the FERS Special Retirement Supplement. Interestingly enough, all he did was recommend it, he didn’t even introduce legislation to eliminate the SRS. Then it was the President’s Commission on Fiscal Responsibility and Reform who, last December suggested several changes to federal retirement, including changing from a high-three retirement computation to a high-five computation.
Then Representative Paul Ryan in the “Path to Prosperity” suggested a five year pay freeze for federal employees. Just a couple of days ago, FedSmith led with an article entitled “Deficit Subcommittee Proposes Significant Cuts to Federal Employees’ Retirement”. This article listed the recommendations of the minority staff of a minor Senate subcommittee. The 17 proposals listed in the article consisted of the “greatest hits” of fed bashers of the last several years. Who will be next to make new recommendations – the ladies auxiliary of the House subcommittee on Civil Service?
Last week, in an editorial, the Federal Times said: “Congress rarely moves quickly or makes…significant policy changes that take immediate and full effect.” Amen to that remark.
People have been proposing cuts like the “high-five” for decades. I first heard of the proposed high-five when I was a 25 year old letter carrier (almost 40 years ago) and it still hasn’t happened. Of course, this does not mean that there might not be some changes coming, but, at a time when the Republicans and Democrats cannot even agree on what day of the week it is, let alone solve any serious problems; changes may be a long time coming.
In the meantime, don’t panic, don’t lose sleep, and be confident that if changes come, there will be ample time to react and make decisions on what you will do.
John Grobe’s latest book, The Answer Book on Your Federal Employee Benefits, has just been released by LRP Publications. The book is written in an easy to understand question and answer format and covers all areas of federal benefits from the perspective of an employee at various stages of their career. Order your copy at shoplrp.com.