Policy Impact Analysis - 117/S/3868

Bill Overview

Title: U.S. Customs and Border Protection Officer Retirement Technical Corrections Act

Description: This bill specifies that U.S. Customs and Border Protection officers who accepted an offer of employment before July 6, 2008, and who started work on or after that date, are entitled to a certain minimum retirement annuity and an exemption from the corresponding mandatory retirement requirements (i.e., proportional annuity).

Sponsors: Sen. Peters, Gary C. [D-MI]

Target Audience

Population: U.S. Customs and Border Protection officers hired around July 2008

Estimated Size: 22000

Reasoning

Simulated Interviews

U.S. Customs and Border Protection Officer (Arizona, USA)

Age: 56 | Gender: female

Wellbeing Before Policy: 7

Duration of Impact: 20.0 years

Commonness: 5/20

Statement of Opinion:

  • I was worried about my retirement benefits since I joined right when changes were happening.
  • This policy will give me more confidence in my future, knowing I won't receive a lesser annuity.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 8 6
Year 2 8 6
Year 3 8 6
Year 5 9 6
Year 10 9 5
Year 20 7 5

U.S. Customs and Border Protection Officer (Texas, USA)

Age: 50 | Gender: male

Wellbeing Before Policy: 6

Duration of Impact: 15.0 years

Commonness: 6/20

Statement of Opinion:

  • The timing of my hire has always been a concern financially for retirement.
  • I strongly support this policy change as it directly benefits officers like myself.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 7 5
Year 2 6 5
Year 3 7 5
Year 5 7 5
Year 10 8 5
Year 20 6 4

U.S. Customs and Border Protection Officer (California, USA)

Age: 45 | Gender: female

Wellbeing Before Policy: 8

Duration of Impact: 10.0 years

Commonness: 4/20

Statement of Opinion:

  • This policy is a relief as I was on the edge of these retirement calculations.
  • I hope this sets a precedent for further protections in federal employment.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 8 7
Year 2 8 7
Year 3 9 7
Year 5 9 7
Year 10 9 7
Year 20 8 6

Retired U.S. Customs and Border Protection Officer (New York, USA)

Age: 60 | Gender: male

Wellbeing Before Policy: 5

Duration of Impact: 0.0 years

Commonness: 2/20

Statement of Opinion:

  • I just missed out, and it's been tough.
  • This adjustment should have been done earlier, but better late than never.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 5 5
Year 2 5 5
Year 3 5 5
Year 5 5 5
Year 10 5 5
Year 20 5 5

U.S. Customs and Border Protection Officer (Florida, USA)

Age: 29 | Gender: other

Wellbeing Before Policy: 7

Duration of Impact: 0.0 years

Commonness: 10/20

Statement of Opinion:

  • I'm too new for this policy to affect me, but I see its value for veteran officers.
  • Policies like these make me feel more secure in my long-term career here.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 7 7
Year 2 7 7
Year 3 7 7
Year 5 7 7
Year 10 7 7
Year 20 7 7

U.S. Customs and Border Protection Officer (Texas, USA)

Age: 62 | Gender: male

Wellbeing Before Policy: 6

Duration of Impact: 20.0 years

Commonness: 3/20

Statement of Opinion:

  • I've been stressing over what reduced annuities might mean for my family.
  • This policy is exactly what I needed at this stage of my life.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 7 5
Year 2 8 5
Year 3 8 5
Year 5 8 4
Year 10 8 4
Year 20 7 3

U.S. Customs and Border Protection Officer (Michigan, USA)

Age: 55 | Gender: female

Wellbeing Before Policy: 5

Duration of Impact: 0.0 years

Commonness: 7/20

Statement of Opinion:

  • Unfortunately, I don't qualify for these benefits due to my start date.
  • Nonetheless, I see it as a fair adjustment for those caught in the transition.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 5 5
Year 2 5 5
Year 3 5 5
Year 5 5 5
Year 10 5 5
Year 20 5 5

U.S. Customs and Border Protection Officer (Washington, USA)

Age: 40 | Gender: male

Wellbeing Before Policy: 7

Duration of Impact: 0.0 years

Commonness: 15/20

Statement of Opinion:

  • I wasn't affected by this policy, given my start date, but I support my colleagues who are eligible.
  • Proper retirement plans are crucial for morale and retention.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 7 7
Year 2 7 7
Year 3 7 7
Year 5 7 7
Year 10 7 7
Year 20 7 7

U.S. Customs and Border Protection Officer (Illinois, USA)

Age: 57 | Gender: female

Wellbeing Before Policy: 6

Duration of Impact: 15.0 years

Commonness: 5/20

Statement of Opinion:

  • I've been uneasy about what retirement would bring financially.
  • With this new policy, I can plan my retirement with more peace of mind.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 7 6
Year 2 7 6
Year 3 8 6
Year 5 8 5
Year 10 7 5
Year 20 7 5

U.S. Customs and Border Protection Officer (Ohio, USA)

Age: 39 | Gender: male

Wellbeing Before Policy: 8

Duration of Impact: 20.0 years

Commonness: 4/20

Statement of Opinion:

  • This policy reassures us that the government acknowledges our unique timing issues.
  • It's crucial for sustaining motivation among officers nearing retirement.

Wellbeing Over Time (With vs Without Policy)

Year With Policy Without Policy
Year 1 9 8
Year 2 9 8
Year 3 9 8
Year 5 9 7
Year 10 8 6
Year 20 7 5

Cost Estimates

Year 1: $550000000 (Low: $400000000, High: $700000000)

Year 2: $600000000 (Low: $450000000, High: $750000000)

Year 3: $650000000 (Low: $500000000, High: $800000000)

Year 5: $750000000 (Low: $600000000, High: $900000000)

Year 10: $850000000 (Low: $700000000, High: $1000000000)

Year 100: $0 (Low: $0, High: $0)

Key Considerations