Political Quotes

“Section 401 of the Bipartisan Budget Act of 2013 creates a new category of employee called a further revised annuity employee and would require further revised annuity employees to contribute additional amounts into the Civil Service Retirement and Disability Fund. It is the intent of Congress for the Office of Personnel Management to create a new normal cost for the further revised annuity employees, and to ensure that the retirement plan not be underfunded. Additionally, it is the intent that for the new further revised annuity employee plan that the only determinant of whether an individual is a Federal Employee Retirement System, FERS, employee or Member, as opposed to a FERS revised annuity employee or FERS further revised annuity employee, is through application of the FERS revised annuity employee test. And that the new further revised annuity employee test only differentiates between FERS revised annuity employee coverage and new FERS further revised annuity employee coverage. Transboundary Agreements”