House PLan | Provision | Senate Plan |
$280.9 billion | Total Cuts | $170 billion |
Increase employee contribution to 6.35 percent; eventually phase out defined benefit altogether; end Social Security suppliment for young retirees. Savings: $127 billion |
Retirement | Senate Budget Committee aides pointed to Bowles-Simpson proposal to raise federal employee contribution to 6.35 percent, but proposal leaves specifcs to congressional committees |
Limit the return rate on TSP's Government Securities (G) Fund. Savings: $32 billion |
Thrift Savings Plan | No specific plan |
Agencies could hire only one employee for every three that leaves. Savings: $59 billion |
Attrition | Senate budget embraces attrition measures, calling on Congress to consider Bowles-Simpson proposal to fill one of three openings, but does not make specific recommendation. |
Tie government's share of premiums for retirees to inflation, rather than cost of plan; tie retirees' health benefits to length of service. Savings: $22.9 billion |
Federal Employees Health Benefits Program | "Improving" the program to "help make it more efficient and affordable for hardworking taxpayers;" specifics left to congressional committees |
Postal employees contribute more toward their health and life insurance premiums; other efficiency measures such as eliminating Saturday mail delivery. Savings: $40 billion |
USPS reform | No mention of USPS. |