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[quote=Anonymous]Every day, more and more progress!!!!

SEC. 90001. RAISE FERS EMPLOYEE CONTRIBUTION REQUIREMENTS. –– Raises the FERS retirement contribution rate for many existing federal civilian employees and postal employees up to the new rate of 4.4% of their salary. ($30.716 billion revenue increase for deficit reduction)

SEC. 90002. ELIMINATION OF THE FERS ANNUITY SUPPLEMENT. –– For new federal retirees, this reform eliminates the additional retirement annuity payment that those eligible to retire before the age of 62 currently receive until they reach the age of Social Security retirement eligibility benefits. Exempt from this reform are those in federal occupations subject to mandatory early separation (i.e., retirement). ($10.113 billion in savings)

SEC. 90003. HIGH-5 AVERAGE PAY FOR CALCULATING CSRS AND FERS PENSION. –– Reduces federal pension benefit spending by basing a retiree’s annuity payment on their average highest five earning years (instead of highest three). ($4.750 billion in savings)

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