Episode 129: 🚨 Feds Under Fire: What Government Employees Must Know 🚨
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Episode 129: 🚨 Feds Under Fire: What Government Employees Must Know 🚨
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In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital Group, discusses three significant proposals impacting government employees. He explains the potential elimination of the FERS pension supplement, which could financially strain early retirees. Kevin also addresses the proposed shift from a high-3 to a high-5 pension calculation, potentially reducing pension benefits and complicating financial planning. Lastly, he explores the reinstatement of Schedule F, which could reclassify certain federal employees as at-will, removing civil service protections and increasing job insecurity. Kevin emphasizes the importance of staying informed and engaged with these critical issues.
Overview of Proposals (00:01:06) Discussion of three main proposals affecting government employees: FERS pension supplement, pension calculation changes, and Schedule F.
Elimination of the FERS Pension Supplement (00:02:29) Kevin explains the potential impact of eliminating the pension supplement for new retirees under 62.
Impact of Changing from High-3 to High-5 (00:05:21) Details on how changing the pension calculation from the highest three to five years will affect benefits.
Reinstatement of Schedule F (00:12:19) Discussion on the implications of reclassifying federal employees to at-will status and loss of job protections.
Conclusion and Support for Government Employees (00:16:41) Kevin emphasizes the importance of government employees and expresses support against the proposed changes.
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