from federaltimes.........
"The deal to raise the debt ceiling in exchange for massive spending cuts will not now hit federal employees' pay and benefits — but it could in a few short months.
The first stage of spending cuts — about $1 trillion in discretionary spending caps over the next decade — would not hike employees' pension contributions, switch them to a high-5 system for setting pensions, or adjust the method for determining pensions' future cost-of-living adjustments. But federal employee unions expect those proposals will return as part of the second stage of cuts, in which a commission made up of lawmakers from both parties must find $1.5 trillion in additional savings by Nov. 23.
"We're happy there are no cuts to federal pay and pensions, but moving forward, we're still facing a slippery slope," said Matt Biggs, spokesman for the International Federation of Professional and Technical Engineers (IFPTE). "We still remain very leery on what [the commission] will do".................READ MORE
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