President Bush to Federal Employees: Merry Christmas
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.
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.
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.
FedSmith recently posted the 2008 pay rates. Here is more information on the 2008 locality pay areas.
What is the value of the compensation package for the average federal employee in 2006? Would you believe $111,180?
Readers have strong opinions about Congressional involvement in the TSP and fear that the pot of money is an irresistible temptation for lawmakers.
Would you prefer to have your TSP money only being invested in “socially responsible” companies as defined by Congress or the TSP?