Tax Cuts, Your Future Federal Retirement and the Federal Pay Freeze
What is the status of proposed changes to the federal retirement system and the federal employee pay freeze? Here is an update.
What is the status of proposed changes to the federal retirement system and the federal employee pay freeze? Here is an update.
Senator Tom Coburn (R-OK) has released a report outlining 100 projects and items on which he believes the government has wasted taxpayers dollars in 2011.
President Obama issued an executive order Monday outlining the pay rates for various federal salary schedules for 2012. The executive order is issued annually to set pay rates, and, not surprisingly, there is no change from 2011 for most federal employees since the pay freeze is still in effect.
Watching the twists and turns of proposed legislation to cut taxes for some Americans gets confusing. The Senate passed a bill but it wasn’t the same bill that the House had passed. Some thought that a two-month extension put a temporary end to the controversy. That prediction was, perhaps, made too early to be true.
Why does it take so long for federal employees to get their retirement benefits? Perhaps it is the fault of the employees and the agency benefit specialists that assist in preparing the applications for retirement. OPM is offering training to improve their job performance.
Rep. Buck McKeon (R-CA) has introduced legislation that would cut the federal workforce by 10% to pay for mandated sequestration cuts in FY 2013.
OPM has not yet released official numbers for costs in benefits changes for 2012 that would be affected by the recent COLA. The author offers his best estimates as to how the cost of the FERS basic death benefit and children’s survivor benefits are likely to change next year.
Rep. Mike Coffman (R-CO) argues that Congress must lead the American people by example, and that means cutting back on Congressional pensions and pay.
According to a statement from OPM, in FY 2011 the federal government hired the highest percentage of veterans in over 20 years.
The House passed the payroll tax cut bill Tuesday night in a 234-193 vote. The bill contains a provision that would extend the current pay freeze on civilian federal employees for another year.