Simpson-Bowles deficit-reduction plan seeks changes to federal pensions

04/25/2013 | Government Executive

A deficit-reduction plan submitted this month by former Sen. Alan Simpson and former White House Chief of Staff Erskine Bowles proposes that federal employees begin contributing more to their pensions. It also recommends reducing the cost-of-living adjustments for workers who retire before age 62 and changing the formula used to calculate military pension benefits.

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