It is hard to believe but the annual federal pay raise has been approved and OPM has issued various documents implementing the 2008 pay rates for federal employees. The median salary for federal employees in the DC area in 2008: $90,698.
Readers have asked several questions about the pay tables we have posted on our site for the 2008 pay raise. Here are answers to the most common questions.
With the approval of the omnibus spending bill by the House, the 2008 federal pay raise saga may be limping to an end this week despite predictions of an administrative disaster befalling the government with another shutdown or the possibility of a continuing resolution for the rest of the year.
December 24, 2007 will be a federal holiday for most federal employees. It was granted within the scope of Executive Order 11582–which most readers have probably never heard of–with pay.
The federal pay system is complex. Some readers have asked good questions because of confusion about the amount of their pay based on the possibility of an average pay increase of 3% or an average of 3.5%. If you are confused, you are not alone.
Congress has gone home even though the Senate says it is still technically open for business. While they may enjoy their time away from DC, their departure leaves open the possibility of furloughs in DoD, funding for most federal agencies still up in the air and uncertainty about the 2008 pay raise for current federal employees. Retirees are set though. Enjoy your holiday.
Any federal employee who may have wondered if career civil service employees are involved in politics need only consider the current budget war on spending for fiscal year 2008 (for the fiscal year that started October 1st). Will there be a government shutdown? Will “nonessential” federal employees be sent home? Will the dispute impact your 2008 pay raise?
Last week’s article on the I fund generated questions and comments from readers. “Isn’t the I Fund a Risky Investment for a Conservative Investor?” was a common question. Here is more information about the I fund and the difference between the I fund and high risk/high reward “emerging markets”.
TSP participants are sitting back and watching their returns grow each month. Here is a summary of the biggest winners.
What is the value of the compensation package for the average federal employee in 2006? Would you believe $111,180?