May 20, 2011 — Federal employees and the pay and benefits they receive, have been under intense scrutiny by both Congress and the media.
Several bills have been introduced in Congress to cut benefits, and the Fiscal Commission report released at the end of last year called for significant changes.
Current deficit reduction talks between Congress and the Administration appear to be leveraging FERS and CSRS reductions as a main bargaining chip.
Treasury Secretary Tim Geithner added even more pressure to the issue, when he announced that the debt ceiling had been reached and the Civil Service Retirement & Disability Trust Fund is being used to allow the government to continue to pay its bills.
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