Freezing Federal Employee Pay (Done!) and Restricting Within-Grade Increases and Promotions (Proposed!)
There is a serious effort to cut back on federal spending with proposals to freeze federal promotions and step increases.
Federal Employee Pay News
Federal employee pay news: If it impacts pay and benefits for federal employees, you’ll find it here. Stay informed about important topics such as annual federal pay raises, the GS pay scale, and Thrift Savings Plan (TSP) including the latest TSP performance updates. You will also find articles about the Federal Employees Health Benefits (FEHB) program, Federal Employees Group Life Insurance (FEGLI), and Federal Employees Dental and Vision Insurance Program (FEDVIP), or event legislation in Congress that could impact federal employees’ pay and benefits.
The Budget “Shell Game” and Your Federal Employee Benefits
Professional politicians are experts at trying to keep everyone happy–especially when it comes to spending money. Federal employee pay and benefits are a hot topic now and will continue to be through the 2012 election. How did the President’s proposed budget deal with the recommendations by the President’s own deficit commission in cutting federal pay and benefits? Here is a quick summary.
Positive Start for TSP Funds in January
All TSP funds had a positive return in January as the Thrift Savings Plan is off to a good start for 2011.
L 2050 Fund Debuts in TSP
The TSP is unveiling a new fund in its family of Lifecycle funds: the L 2050 fund. The fund is designed for participants who will begin to withdraw their holdings after 2045 and replaces the now obsolete L 2010 fund.
Open Season for Federal Employee Long Term Care Insurance
Open season dates for federal employee long term care insurance have been announced. Also, same sex domestic partners of federal employees will now qualify for coverage and will only be subject to “abbreviated underwriting” for the insurance rather than the more stringent “full underwriting” requirements.
Extending Pay Freeze Until 2015? Spending Reduction Bill Becomes Public
The Spending Reduction bill is now available. Despite the expressed hope of some readers, it does call for an extension of a federal pay freeze for five years. Did the President imply support for a five year freeze?
Why Did My Federal Employee Pay (and Probably Yours) Go Down?
The Author says he wondered why, back during the Reagan administration, his paycheck went down. Here is the answer as to why and how federal pay was reduced and that you may still be receiving less than your nominal annual salary.
Five-Year Pay Freeze for Federal Employees?
The Republican Study Committee released its recommendations for ways to cut government spending by up to $2.5 trillion over 10 years. Some of the proposed cuts, if enacted, would directly affect federal employees.
The Debt Limit and Your TSP Fund
How safe is your TSP in a major recession and with extraordinarily large government debt as a common topic in the media?
Too Many Within-Grade Steps
As we all know, the two-year salary freeze has a loophole. Step increases will still be granted. This suggests another way to achieve savings, a way that will be permanent, and will ultimately save more money.
