Add the "Save More Tomorrow" option to all government run defined contribution programs such as the TSP. This saving option which ramps up the saved percentages with increasing income is a proven option to induce more individual savings which will lead to lower future dependencies on federal subsidies. See: http://www.anderson.ucla.edu/faculty/shlomo.benartzi/savemore.htm
Automatic Workplace Pensions
Make people who are going to collect unemployment and welfare comply with 2 requirements:
1- subject to drug testing. Anyone on drugs will lose their right to collect.
2- Make them work at least 20 hrs a week cleaning up their community. If they are going to collect money from the government, they might as well earn it.
I would suggest that all departments of the Federal Government offer all (no exceptions) current employees in the CSRS pension plan a one time (never to be offered again) early out retirement option with a one-time incentive bonus (40% of their base salary). These employees would have been continuously employed by since Jan 1, 1984, and have a minimum of 25 years of Federal Service towards this pension (actually 26 years). ...more »