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Saturday, February 15, 2020

NAPS: FY 2021 White House Budget Targets Postal Service and Its Employees

"...Also, the President proposed budget hits against the postal and federal community. In part, the budget proposes to: increase employee retirement contributions to FERS approximately six-fold; eliminate the COLA for FERS retirees and to reduce the CSRS COLA by 0.5%; change the calculation of federal annuities from the High-3 to the High-5; reduce the earned interest in the Thrift Savings Plan G-Fund; and eliminate the Special Retirement Supplement for FERS annuitants who retire prior to reaching Social Security eligibility. The projected 10-years savings from these proposals total $179.5 billion. NAPS is urging Congress to reject White House proposals that undermine the Postal Service or target the pay and benefits of its employees..."    

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