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Restore Soundness To Civil Service
WASHINGTON-March 12-Rep. John 0. Marsh, Jr., loined yesterday in the introduction of legislation intended to “restore the financial soundness of the civil service retirement system.”
“It has become clear, through figures presented to our Appropriations Subcommittee having responsibility for civil service matters, that this fund is heading into serious trouble,” Marsh said; “and it is essential that prompt steps be taken to make certain that the Federal Government’s promise to iU retired employees-a solid anc dependable retiremeni system-will be honored in thi future.”
The 7 th District Congressman explained that the civil service retirement fund is “essentially, an insurance system, financed by contributions by all membei employees, and by the employer, which is the Federal Government.”
“When such a fund gets into financial trouble, the contribution from one side or both sides, must be increased to preserve its solvency,” Marsh said; “and the hope is that the present bill, developed by Chairman Joe L. Evins of Tennessee of our subcommittee, might provide a basis for reassuring all present and future civil retirees of the safety of their retirement benefits.”
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