4 Things That Can Boost Your Savings in 2023
Changes on tap for 2023 offer federal employees an incentive to save more towards retirement.
Federal employees under the General Schedule (GS) get an annual pay raise most years. Articles in this section are an important resource for federal employees to stay informed about their pay and any potential changes that may affect their salaries. These articles emphasize the importance of understanding the factors that contribute to pay adjustments and the broader economic context in which these decisions are made.
Changes on tap for 2023 offer federal employees an incentive to save more towards retirement.
The 2022 inflation rate was 6.5% at the end of the year. The COLA for 2023 was 8.7%. What is likely to happen with the 2024 COLA?
Historic inflation, COLA, pay raise and problems related to the TSP website: a recap of 2022 for federal employees.
President Biden has issued an Executive Order finalizing the 2023 federal pay raise as well as the 2023 GS pay scale tables.
Here are the 2023 GS locality pay areas with the highest and lowest total pay increases for 2023.
Are federal contractors included in the 2023 federal pay raise?
Will Congress provide an additional amount for a 2023 federal pay raise? At this point, that is highly unlikely.
What are special rates for federal employees and how are they related to the GS locality pay rates? Does the 2023 federal pay raise apply to the special rates?
While the anticipated 2023 federal pay raise is 4.6%, on average, inflation has slowed to an annual increase of 7.1%.
What will federal employee pay be in 2023? Here is an estimate of the 2023 GS pay scale for each GS grade and step. Final figures will be out later this month.