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?
Upcoming Initiatives to Negotiate
New Collective Bargaining Agreement (CBA) – We expect this to commence sometime in 2021. More information will be provided when available.
Pending Institutional Grievances
Rental Vehicle Approval Documentation – Working on a grievance settlement.
OCFO provided notice to all employees that they must retain the written pre-approval to provide in case the expense report is audited. The grievance claims this is a unilateral “change in working conditions” and the Agency failed to provide notice and bargain. There has never been such a requirement nor was it anticipated so the CBA is silent on the issue. This is unlike the required receipts where the CBA specifically requires certain receipts and speaks to the process when a receipt is not available. The approval is between the employee and the supervisor, and has nothing to do with the veracity of the expense. The purpose of the pre-approval is to provide the supervisor the opportunity to have the employee use another means of transportation while in the TDY for a particular assignment.
Rental Vehical Issues -
Sharing vehicles is encouraged by some managers
Cost comparisons required by some managers for each approval
Toll access fees are being disallowed by region 5 management with instructions they should not be charged on the givernment charge card.
NTEU is watching these bills that could affect
FIRREA Agency Employees
- NTEU was successful supporting a new benefit coming to federal employees in 2020, Paid Parental Leave. Click on the the following link for more details: Paid Parental Leave
- Support H.R. 5690 and S. 3231, giving federal employees a 3.5 percent raise in 2021.
- Support S. 3146, which prohibits agencies from implementing any collective bargaining agreement that was not mutually and voluntarily agreed upon by all parties or the result of binding arbitration.
- Support S. 530 and H.R. 1316 to re-establish the National Council on Federal Labor Management Relations.
- H.R. 559 Merit Act would weaken your rights as federal employee by eliminating or weaken collective bargaining rights.
- H.R. 1137 would cut certain federal salaries immediately by 8.7 percent and limit future pay raises.
- H.R. 1230 would lower federal pensions.
- H.R. 417 would slash the federal workforce by 10 percent over two years.
- H.R. 4461 would prevent federal employees from voluntarily deducting dues.
- H.R. 1364 would limit certain union official’s benefits who utilize official time to serve bargaining unit employees.
The NTEU Legislation Department is closely monitoring these bills 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.