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Reply to "FERS pension contribution increase "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Holy Moly! Federal employees hired before 2013 only had to contribute 0.8% of their salary towards their pension? How on earth did they decide on 0.8% as the number? That's so... obscure. Why not 1%? I had no idea the contribution was so low. I'm married to a fedgov worker. I'm a teacher. We contribute 7% of our salary towards our pension. (Maryland). [/quote] But your pension multiplier is 50% higher than the standard federal government pension (1.5x years worked versus 1.0)[/quote] Now add-in the 5-7% , depending on the agency, matching TSP contributions for federal employees. [/quote]
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