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Imagine that an employer wishes he hadn't paid you so much in the past, so he goes into your bank account and takes what he wants. Sound outrageous? That's essentially what the federal government may be about to do to its workers!
And if that doesn't make you angry, consider this. The rest of us may be next. The battle to protect the earned compensation of federal employees is everyone's battle.
The Budget Conference Committee, which formed as a result of the government shutdown this October, is scheduled to report on December 13. To meet that deadline, Senator Patty Murray (D-WA), chair of the Senate Budget Committee, and Congressman Paul Ryan (D-WI), chair of the House Budget Committee, have been negotiating a package behind closed doors.
Because Republicans refuse to require millionaires and billionaires to pay a single additional penny towards the common good, federal employees -- a group that has already sacrificed more to deficit reduction than any other group -- will reportedly be forced to sacrifice even more
Because Republicans refuse to require millionaires and billionaires to pay a single additional penny towards the common good, federal employees -- a group that has already sacrificed more to deficit reduction than any other group -- will reportedly be forced to sacrifice even more.
But like Social Security, federal and other employer-sponsored pensions are earned benefits, not gifts or handouts. They are part of a compensation package, often explicitly negotiated for in exchange for reduced current pay.
We find that while the average U.S. federal government employee makes $14,632 more in direct cash income than their private sector counterpart, at $74,436 versus $59,804, the extremely generous benefits with which they are also compensated boosts their real income margin by $26,632 over the average private sector income earner, putting their total compensation at $114,436 versus $87,804.