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QUESTION:
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Federal Law Enforcement Pension Adjustment Equity Act of 2007 - H.R. 1661 | Federal Law Enforcement Officers, unlike employees who participate in the Civil Service Retirement System, receive adjustments to their pensions based on annual pay increases received by active-duty officers rather than on increases on consumer prices.
[Some of us, most of us, who receive pensions from the private sector rarely get increases, period.]
The Law Enforcement Equity Act of 2000 provided a one time increase in pay, [NOT pensions], for law enforcement officers the United States Park Police and United States Secret Service Uniformed Division.
The act, however, excluded the one time increase from the annual adjustment in pension benefits for retirees who were collecting pensions when the pay increase was enacted.
[In other words, this one time pay increase was not used in calculating any adjustment to the then current retirees pension amounts.]
H.R. 1661 would amend the Law Enforcement Pay Equity Act of 2000 and would raise the retirement annuities of the Park Police and Secret Service officers who retired before the enactment of that legislation to include an adjustment for the one time salary increases.
Those increases would be effective for benefits payable after December 31, 2006.
CBO estimates that enacting H.R. 1661 would increase direct spending for retirement annuities by $23 million in fiscal year 2006, by $80 million over the 2008-2012 period, and by $159 million over the 2008-2017 period.
[When I first started out, I was urged to make a career in government services because of their superior pension benefits. I didn't listen.] |  | asked by grandpa24551, 7/10/2007 |
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Categories:
Work and Retirement
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| Your answer will be the first. |
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