Upcoming Initiatives to Negotiate
NCUA/NTEU Implementation of Partnership Committee– We expect this to commence sometime in 2023. More information will be provided when available.
NTEU is advocating for Congressional Actions that could affect
FIRREA Agency Employees
Protecting and Enhancing Benefits
Fighting for paid family leave
Blocking efforts to reduce retirement benefits while increasing employee contributions
Opposing shifting additional costs to FEHBP enrollees
Safeguarding Workplace Rights and Protections
Opposing efforts to resurrect Schedule F or any plan that would weaken merit-based civil service
Opposing using the Holman Rule to target specific employees with salary cuts
Promoting and Supporting Telework and Remote Work
Supporting legislation to strengthen and expand telework programs
Opposing a bill to revert all telework arrangements to pre-pandemic levels
The NTEU Legislation Department is closely monitoring these these issue and is sharing with members of Congress what the impacts could be on our members. The Committee Chairman has expressed a strong commitment to bringing forward legislation to weaken consumer and depositor protections and to make changes in law requested by the banks and investment houses. Such legislation, which might be an amalgamation of some of the bills considered yesterday, certainly could also be a vehicle for making changes detrimental to FIRREA employees. Be assured we will take action to oppose any measures that negatively affect NTEU members. Use this link to contact your members of Congress. Please don't use your NCUA email address when contacting your member of Congress.
What does this mean for you? NTEU works every day to protect and maintain your hard earned benefits. Recent attacks are now coming from multiple agencies that will have material financial $$$ impact on you. The following are tiems that could impact you and your family.
Elimination of FERS annuity supplements
What does this mean for you? Typically if you retire from NCUA before the age of 62 and have obtained your minimum retirement age, you receive a FERS supplement that could be as high as 80% of your social security you can draw at 62. If this is eliminated – you get nothing!!
Use of high-five rather than high-three pay years to calculate annuity
What does this mean for you? You could receive around 2.60% less each year on your FERS retirement annuity. This does not seem like much, but could represent around $30,000+ less in retiment benefits over your life, depending on your income
Increase in employee retirement contributions
What does this mean for you? Depending on when you started with NCUA, your salary will be reduced up to 6.45%. How much will this impact you, take your gross salary every two weeks and reduce it by 6.45%.
Reduction or elimination of retirement cost-of-living adjustments.
What does this mean for you? Nothing, if you plan to die right after you retire. If plan on living, over the life of your retirement, your FERS annuity could be 20, 30, 40 percent less once you reach 20 years into retirement.
Can you afford not to be a member of NTEU?