President Obama has quietly sent out a letter to the House and Senate noting that for the federal workforce “an across-the board increase of 2.0 percent shall go into effect on the first day of the first applicable pay period beginning on or after January 1, 2010.”
An agency can find itself in the middle of a political and media firestorm quickly and unexpectedly. The Dept. of Veterans Affairs has found itself in the middle of another controversy it doesn’t want. The relatively new political appointee caught in the middle is undergoing a trial by fire.
For the first time since the current system was put into place in 1975, the annual COLA adjustment is unlikely to appear in your paycheck next January. Here’s why.
A number of readers have asked: How many federal employees are there in various pay groupings? How many federal employees are there in each GS pay grade? Here is a brief description and a graphical depiction of the number of federal employees in the GS system from those making less than $20,000 per year to those making more than $180,000 per year.
According to the Bureau of Economic Analysis (an organization within the Department of Commerce), the average federal employee now makes $79,197, not including benefits. And, when benefits are added in, the average federal employee compensation averaged $119,982 based on 2008 figures.
Lifecycle funds are growing in popularity for TSP investors. At the end of July, more than 606,000 TSP investors had money in an L fund. But investors are not putting all of their assets in one location. The number of participants with their entire TSP balance in one L fund is surprisingly small.
There have been several Federal Register notices, proposed rule extensions, numerous comments from interested parties, and probably much wringing of hands within OPM on a proposal to eliminate time in grade restrictions. The final result: No changes.
The political debate in America on health care and the role of government in our economy is intensifying. What is your view? How has this issue been handled by the major parties and the White House?
What will your 2010 pay rate be in actual dollars and cents? That depends in large part on the final action by Congress and the President.
The federal debt is increasing rapidly. America’s creditors are nervous about getting their money back and the potential impact of inflation. The Treasury Department is trying to reassure investors as the government prepares to borrow another $406 billion in the next quarter. Federal employees have an investment alternative not available to the general public.
