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Reply to "Do you feel confident in the long-term sustainability of the federal pension program?"
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[quote=Anonymous][quote=Anonymous]I do not think there will be an impact to service that has already accrued. They will continue to cut benefits for new hires and cut future accruals and might cut COLA increases for people in pay status. That’s what happens in all the other public sector pensions that are under water. This is well trod ground at this point. Unless you have a Detroit scenario (total financial implosion), you won’t llosr prior accruals. And even Detroit retirees didn’t lose most of it. [b]Defaulting on accrued pension liabilities is really the third rail. That would be very very bad and unprecedented. [/b] [/quote] +1. This particular administration might not care, but I think it's an anomaly. Defaulting on federal pensions would be a very bad sign of weakness and Congress is well aware of that.[/quote]
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