Mob. © Nome, Amendment of Senator Mark Warner #3 Federal Employee Retirement Contributions Purpose This amendment establishes a scorekeeping rule to ensure that increased contributions to the Federal Employees Retirement System are not used to offset provisions that increase the deficit. Cosponsors Kaine, Van Hollen Summary ‘The Federal Employee Retirement System is the result of a bipartisan effort to modernize retirement for federal employees, and is by law, required to be fully-funded. There are no solvency concerns related to FERS, yet Congress has increased required contributions for new employees since 2010, including through the Middle Class Tax Relief and Job Creation Act of 2012, which increased the contribution rate to 3.1 percent for most employees hired after December 31, 2012. Further increases in the contribution rate will reduce the income of federal employees who have already forgone across-the-board pay increases and shouldered more than their fair share of deficit reduction, making it difficult to recruit and retain highly qualified employees for our federal agencies. Text of Amendment ‘Where appropriate, insert the following: SEC. xx. PROHIBITING THE USE OF RETIREME! OFFSET CONTRIBUTIONS AS AN In the Senate and the House of Representatives, for purposes of determining points of order under the Congressional Budget Act of 1974 (2 U.S.C. 621 et seq.) or any concurrent resolution on the budget, any provision that increases federal civilian employees’ contributions to the Federal Employees Retirement System (FERS) shall not be counted in estimating the level of budget authority, outlays, or revenues (1) in the Senate, for any bill, joint resolution, amendment, amendment between the Houses, conference report, or motion; and (2) in the House of Representatives, for any bill or joint resolution, or amendment thereto ‘or conference report thereon.