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Cantor Calls for Increasing Federal Employee Retirement Contributions
The Washington Post; subscription may be required
Feb. 21, 2013 "House Majority Leader Eric Cantor (R-Va.) on Thursday repeated his call to replace sequestration with changes including revisions to the federal employee retirement program.... Nearly nine-tenths of federal employees are under the Federal Employees Retirement System, for which they pay the standard Social Security payroll tax of 6.2 percent of salary. Those first hired before this year pay an additional 0.8 percent of salary toward a civil service annuity; under a law enacted early in 2012, those first hired this year and after must pay an additional 2.3 percentage points." MORE >> |
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