Re: FER SL

That's what she said.

Re: FER SL

Michael Scott. Okay Michael, keep it clean.
Asset Manager. One post suggested that if you are out sick the entire year (after you become eligible) you get your full salary plus the extra percentage added to your retirement.

Re: Sick Leave Credit for FERS

Project Officer, CSRS is a better retirement plan and you hopefully know it. You should feel lucky to be under that system.

Re: Sick Leave Credit for FERS

Project Officer DoD:
Are you afraid that the peasants, in the FERS pension plan, will inch a little closer to your "Cadillac Plan"?? Stop your crying & start organizing a legislative effort like everyome else, if you really think that it is justified.

Re: Sick Leave Credit for FERS

QUIT WHINING!

Like others have stated if those of us in FERS could trade for CSRS and not have to pay Social Security Taxes, MOST OF US WOULD TAKE THAT TRADE! So count your blessings!

My fear is that by the time I'm 62 there will be an "earnings test" and for those of us who have prepared well financially for retirement (have other sources of retirement income such as TSP, IRA's, real estate income, etc.) if we have say $50,000 per year (just to pick a figure) in other retirement income we won't get ONE PENNY of Social Security benefits.

This is because the system is going to be operating in the RED soon, because of how congress has abused and misused the SS Taxes for general fund expenditures, and those of us who have not planned to "rely" on a SS check, won't get one, no matter how much and how long we paid the SS Taxes. Now if you want to discuss something that is UNFAIR, that will be it!!!

Re: Sick Leave Credit for FERS

I missed the cut-off date by four (count them - 4) days to be able to choose CSRS or FERS. Given a choice between FERS and the defined benefits of CSRS I would have picked CSRS in a heart beat, given that I always intended to stay with federal employment. FERS, given some smarts a a lot of luck, has the POTENTIAL of paying-off bigger but only at risk to much of your investment (or have you been in a hole for the last two years?).

Re: Sick Leave Credit for FERS

Sounds like you got the short-stick too, Project Officer. That's what she said. Ha, I just can't help myself.

Let's face it, this minor benefit doesn't make FERS better than CSRS. CSRS is a more reliable plan. Since the TSP is a big part of the FERS equation, FERS will be comparable to CSRS if the market does well. However, if the market struggles, those of us in FERS will struggle along with it. CSRS will get their defined benefit regardless of what the market does. So, quityerbitchin.

Would you change if you could?

Re: Sick Leave Credit for FERS

I am a CSRS employee. I agree with the FERS people on this one. The TSP match is supposed to make up for the higher pension benefits CSRS employees get vs. FERS employees. It has nothing to do with the FERS sick leave credit.
At one time CSRS employees did not have the sick leave credit. The government decided to add that one back in. The FERS employees just got the same rights, but a lesser benefit given their pension computation.

Re: Sick Leave Credit for FERS

Project Manager, while you're considering whether you would change from CSRS to FERS if you could (I'll bet not!), don't forget that forever after you retire, as a FERS retiree you will receive a COLA that is 1% less than the COLA that CSRS retirees will receive.

FERS, the gift that keeps on giving.

Re: Sick Leave Credit for FERS

I must be missing something. I've been with FERS since 1987 and am looking at retiring from a law enforcement covered position in the next couple of years.

I did an earnings estimate at a recent mid-career retirenment seminar. I'm going to make out fairly well. Unsure how well compared to CSRS, but why should that matter? I'm talking about my retirement.

With my retirement annuity and supplemental social security until 62, I'll be doing great. I won't need $425K in TSP earnings, so that will just keep growing (hopefully). And I'll wait until the last second to get social security.

My wife and I are set. What am I missing? I mean, really?

Re: Sick Leave Credit for FERS

Manager DOI, so then you would be just like the CSRS folks who worked in the private sector and have actually earned enough quarters to qualify for SS won’t get any all they have contributed because whatever they get from SS at least a portion is taken out of their Federal retirement, and no that would not be me. So you see, there are good things and not so good things in both retirement packages. I think that is what Congress deemed as the "double dipper". hmmm guess they needed to stop that. Save the money for something more important.

Re: Locality Pay

FWS employees don't/won't get locality pay. Wage surveys are conducted annually that take into consideration local market conditions, and that's where the annual pay adjustments is derived for blue collar employees.

Re: Yeah The Witches are Dead

How do you feel now that you're likely to get a 2% pay increase and no extra locality increase this year? Maybe we'll regret getting rid of NSPS after all...