Retirement Planning

Tammy Flanagan | National Institute of Transition Planning | September 14, 2017 | 0 Comments

Potential Benefits Cuts: Where Things Stand

Flickr user Ian Stannard

Earlier this year, I wrote about the proposed cuts to federal retirement benefits included in President Trump’s budget. Here, to recap, is what the budget proposal included:

These would clearly be dramatic changes to the federal retirement system, and they have caused alarm among some federal employees. But they have to be approved by Congress, and many lawmakers share employees’ concerns about their impact.

So where do things stand now? To give you an idea, here are some Government Executive headlines that have appeared since my earlier column was published on June 1:

In short, there hasn’t been a tremendous amount of momentum yet in the direction of trimming retirement benefits as a cost-savings measure. But Congress has put off its real budget work until this  fall, with a looming deadline of early December before a continuing resolution runs out. So stay tuned.

Photo: Flickr user Ian Stannard