The Debt Ceiling and the G Fund: Here We Go Again
The government is using two federal employee retirement accounts to avoid hitting the debt ceiling as the country’s debt continues its steady growth.
The government is using two federal employee retirement accounts to avoid hitting the debt ceiling as the country’s debt continues its steady growth.
How well do you understand your federal employee benefits, and how does this information tie into the recently proposed cuts?
The Treasury Department has announced it will no longer be able to fully invest in two federal employee retirement funds to avoid hitting the debt ceiling.
The Treasury Secretary says the government needs authority to borrow more money by September 29th. Could federal pension payments be suspended after this date?
Recent proposals suggest cutting federal employees’ retirement benefits, however, the author says that lawmakers may not understand how these are funded.
The debt ceiling for the Federal Government has been reached and it is using accounting techniques to keep paying its bills. Federal employees are helping to fund the “extraordinary measures” now in effect.
The unfunded liability of the older CSRS retirement system will hit a peak of $684.8 billion by 2023. Your future pension benefits should be secure despite the financial shortfall, according to OPM, as the number of people covered by CSRS continues to decline.