Will changes to federal employee benefits provide a financial windfall or disaster?
There has been plenty of bad news in recent weeks and months regarding federal pay and benefits. A proposal by President Obama to freeze federal pay for two years was enacted relatively quickly during the previous session of Congress, and there are proposals floating around to change the federal retirement system by using a formula of an employee's "high five" earning years instead of the "high three" earning years. The result would most likely be a reduction in your future retirement annuity.
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