NARFE seal imagelogo-narfelogo-Chapter 65

SAN FRANCISCO, CA

President's Report

AUGUST 2017

PRESIDENT: JERRY HALL, 229 De Montfort Ave, SF, CA 94112; 415-412-0488, fritz1313@hotmail.com GREETINGS AND CONGRATULATIONS TO ALL CHAPTER MEMBERS WITH BIRTHDAYS AND/OR ANNIVERSARIES IN AUGUST…
Thank You Volunteers: Thanks to all of the NARFE members who spent time during the annual NARFE recruitment effort in the 90 7th Street Federal building July 17, 18, and 19th.  Special thanks to Mike Crahan, your San Francisco Chapter Membership Chair.  He did a dynamite job, recruiting more new members than any previous event we have held.
Employee Retirement Contributions: This week, legislation was introduced in the House that would repeal the two recent increases in federal employee retirement contributions. The Federal Employee Pension Fairness Act, H.R. 3269, introduced by Rep. Anthony G. Brown, D-MD, would return most federal employee retirement contributions to the pre-2013 0.8 percent level. Beginning in 2013, new federal employees were mandated to pay more toward their retirement than their previously hired colleagues, without any increase in benefits. Those hired in 2013 pay 2.3 percent more, and those hired in 2014 and beyond pay 3.6 percent more than those hired prior to 2013. Over 10 years, these increases in retirement contributions will amount to a $21 billion loss in take-home pay for these federal employees, and much more thereafter, with no added benefit in retirement. NARFE supports this bill. Legislators should not treat federal employee pay as a piggy bank to pay for other congressional spending priorities. Such practices inhibit the federal government from recruiting and retaining the nation's best and brightest, undermining the ability of our government to carry out its mission of serving the American people.
Fiduciary Rule: The Affordable Retirement Advice for Savers Act, H.R. 2823, introduced by Rep. Phil Roe, R-TN, was approved by the House Committee on Education and the Workforce by a vote of 23-17. The bill, which would repeal the Department of Labor's fiduciary rule, was also referred to the House Committee on Ways and Means. Under the fiduciary rule, financial advisers are subject to new impartial conduct standards when recommending rollovers of assets into Individual Retirement Accounts (IRAs), including rollovers from the Thrift Savings Plan (TSP). For this reason, NARFE supports the rule and is working to prevent any attempts to undo it. You can contact your lawmakers in support of the rule.
Contact your Congressional Members: NARFE members are encouraged to use the new, easy-to-use NARFE Legislative Action Center to send letters to members of Congress on a variety of NARFE issues, sign up for action alerts and track NARFE-related bills and votes. You can also call 866-220-0044.
2018 COLA (Estimated): The Social Security Board of Trustees released its annual report to Congress and estimates that the 2018 cost-of-living adjustment (COLA) for Social Security recipients to be at 2.2 percent.   The actual 2018 COLA figure, however, won't be announced until mid-October.

Jerry Hall
President, Chapter 65
Ph: 415-412-0488

fritz1313@hotmail.com

Archived reports are available for viewing.

Top

Back to Home Page link About Us | Site Map | Privacy Policy | Email Us | ©2007 NARFE Chapter 65 | Updated: