Federal Employee Pay & Benefits Safe… For Now

Federal employees can breathe a temporary sigh of relief as spending cuts set as part of the deal to raise the debt ceiling will not affect federal pay and benefits. But the deal isn’t totally off of the table. As part of the second half of the deal, republican and democratic lawmakers must find $1.5 trillion in additional savings by Nov. 23. This could mean a hike in employees’ pension contributions, a switch to a high-five system for setting pensions and a new method for determining pensions’ future cost-of-living adjustments. Read more (Federal Times).