However, IF these assumptions were correct, then I would hope that after working for 44 years for ANY company, be it private or government, and working my way up to a GS-10 or higher salary without a degree, that I would get a decent retirement pension. Many attempts were made to correct that situation, however President Clinton was the first president to stop catch up pay to put federal workers on par with civilian counterparts. And the vacation days, sick days, federal holidays, generous health care benefits are ridiculous. Thanks to Reagan and his “Windfall Elimination,” the Social Security I put into for thirty years before starting to work for the feds, and which should have qualified me for about $1000/month — that “windfall” was cut down by almost half. He doesn’t seem to be knowledgable about federal retirements…ask My Federal Retirement. hiring relatives Second, if a Federal employee earns 90,000 per year, they are most likey in a professional position in which they earned through competitive placement based upon education requirements (BS or Masters) and prior job performance. These are associates who carry water for the lawyer performing the same services that I provide on the other side. They are exposed to more toxins, viruses, and diseases than in this country. I would like to know more about how you get retiree health coverage and if it’s as good as regular insurance like blue cross. I will retire from the government in December of this year. Why don’t we start facing the real problems in this country. Residents - Report the government pension income on MA Form 1 (Line 4) as pensions. If he came in as a Senior Agent, his salary would be a little less than $90,000 per year. Don’t hold it against the Federal employees. I relocated from my birth state upon entering the military and have never returned living around the country and outside of it for several years. Written Monday morning ….. while on the Taxpayer-paid clock ? Found inside – Page 112No pension contribution is made by the employee during the period of his service . ... pensions has been introduced for new entrants in central government ... Yet, it appears that Mr. Biggs only wants to compare Federal compensation and benefits and private analogues (such as they are) at only one time — when times are tough on the private sector. None of the pensions are transferable, so I have no pension buildup whatsoever. And when I turned sixty-five, I could draw that social security pension, but only if I DIDN’T retire.(!) I suspect not, but if there’s anything you think should be changed then we can take a look. It might be the same job, but it’s not the same employee. Of course this is not all fed jobs, but most without a doubt. how many nurses want to work at VA hospitals – ?????? Most FERS employees will retire at the minimum retirement age with 30 years of service. LOL-LOL-LOL-LOL!! We deal with everyone who has business before the government. I wonder how many private sector jobs would compare. Most new employees start after after age 21, with at least a 4 year college degree and have or are working on a Masters or higher. Important initiatives for Central Government employees covered under NPS: A New Pension Scheme (Contribution based Pension Scheme) now called National Pension System (NPS), was introduced for Central Government employees vide Ministry of Finance (Department of Economic Affairs) Notification No. There is an error in paragraph 6…where do you get 44 years of service? Hmm, feds don’t have private chefs, stock options, expense accounts, memberships to exclusive golf and country clubs, executive training, first class plane tickets, and in most cases, opportunities for advancement. He pays 10% towards the cost of his health care insurance and amazingly, his health plan is substantially better. But if you wonder why costs are so high, now you know. Why do they continue to run bogus numbers around and make these “specious” arguments. Main fax: 202.862.7177, © 2021 American Enterprise Institute |. They were not given because accountants evaluated them and decided they were fair, reasonable, and sustainable. he braggs the children will have over 3/4 of a million at age 18, on our dime. Government workers got it made REALLY good. “For both 401(k)s and the TSP, we need to make the risk of the benefits they offer comparable to the guaranteed benefits from a defined benefit plan; otherwise, investments in riskier assets like stocks will seem like ‘free money. Job security, vacation time, pay, reasonable workweeks, and retirement programs are all benefits that far exceed those of their non-government-worker peers. Stop worrying about what others have because its never going to help you obtain it. Over the past 20 yrs, the gov’t has repetatively sought to contract out work for routine maintainence work, clerical work and many other jobs on the low end of the payscale. Do you? For the facts that you seem to be clearly unaware of let’s try the first fact that you falsify – Private sector employees in the top 1/4 of the work force as compared to the top 1/4 of the earnings in the federal/state/city work forces. Upon an employee's retirement, the government continues to pay part of a retiree's healthcare, but the retiree now pays with after-tax dollars. I worked for the federal government (Department of Labor) from 1981 to 1989. Instead of trying to drag down the civilian federal retirement system (which should be separated from the military system – they are not the same) to the lowest common denominator, why aren’t people complaining about the inadequacy of the non-federal retirement plans? Pensions are a reward given to long-term employees for commitment and dedication to an employer, either public or private. You say you are 63, but don’t say what retirement system you are under, how long you have worked for the government, etc. Where was Mr. Biggs on this issue in 1998? This country is on a fast downward spiral. I’ve stated in other places on the Internet that getting a federal job was one of the hardest things I ever had to do. Pension Reform Should not be used by a Politician for a Hot Button Election Issue like the Mayor Race in Modesto, CA I have 15 quarters of social security credit which I cannot use because of the “Offset” otherwise I could get enough work to amount to the 20 quarters minimum required for a minimal Social Security pension. Hey, I have a grand idea. However, if a government employee chooses to leave NPS prior to reaching the retirement age of sixty, in such cases mandatory annuity becomes eighty percent of total pension wealth. In addition, the federal employee would have whatever income his own TSP contributions generated. All told, if you're looking to retire without an undue tax burden, roughly half of the United States tries to accommodate you to . Off my soapbox for now! Found insideThe 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Actually, I don’t have a problem with people who think that way. If you didn’t then you just went on your way and you weren’t affected by them (Now, you might say they affected your taxes but if we are going to parse everything that affects taxes or costs of goods and services, we would be discussing this forever). You see, you can’t cheat on your spouse, be financially irresponsible, lie, cheat, or steal, and any number of other restrictions listed in a previous post. You are comparing apples to oranges. Custom site by. § 201(b)). well I should have been a doctor too-but I’m not I’m a nurse – but I am not because I did not make the choice the docs did- I was lazy and took the nurse route – so I should be jealous over a docs salary- NOoooooo. We all pay for them as well one way or another. Total right-wing Republican/Christian, too. His primary focus is on developing relationships with members of the community and serving as a resource for local residents. So, the Brown University report concludes by estimating that all these wars that we were lied into, wars that were started based on false pretenses – will add at least $1.5 trillion dollars to our national debt. The general prohibition against acting as the agent of a foreign principal required to register under the Foreign Agents Registration Act (22 U.S.C. A government-worker pension in Illinois is a defined-benefit, or DB, retirement plan under which employees are supposed to receive annual benefits during retirement. FERS doesn’t max out at 33%. All of this was to get Federal employees into the game private entities were playing at that time. Since then, it has only gotten worse. If all highly qualified people left the government, what would we be left with? What sort of under the table deal did you receive for selling your soul to Satan and churning out this hit piece on Federal retirees – conveniently ‘released’ to coincide with the rats in D.C. who are looking for ways to renege on their promised obligations? that a FERS employee would lose compared to their CSRS brethren. i retired as a civilan merchant mariner with the dept. Not only must one compare Federal workers to private sector workers in the same occupations, at the same level of expertise, with the same level of experience, in the relevant labor market, and for the same number of work years — to be meaningful, one must also make the comparison between institutional employers of roughly similar character and make the comparison over a period of years. I can refute the claim on salaries. The pension calculator will give members of the Massachusetts Employees' State Retirement System in groups 1, 2 or 4 an approximation of their retirement benefits. 2. Once agents start leaving in droves due to the pay freeze and more generous private security jobs, and something bad happens, then maybe people will notice that it’s not just secretaries working for the fed. Granted, many do, but the number of these individuals is significantly off set by the numbers that leave the work force and start their own competitive enterprises falling off the 1000+ workforce map yet making money in factors that are so far off the charts as to make your statistics moot. Old Government Pension Scheme. If pensions are the problem I note that what the average person in congress seems to qualify for serious benefits when they reach the correct age, something the ordinary day to day civilian employee doesn’t. The problem with this article is that it completely ignores stock option plans, common in white collar private sector jobs. As I think I noted elsewhere, the point of assuming 44 years is so that people don’t compare benefits received under a more typical 30-year career with what they will receive after working a full lifetime. I also have a news flash for you…those of us who work in the private sector ARE working for our country. I get what I traded in the private sector by moving to the public sector, just concerned no one else does. The total retirement income would be around $25,832, plus whatever he received through his own 401(k) contributions. Clearly, nobody really knows the future value of these benefits. Government administrators across the state accidentally made their own employees their largest creditors. The prohibition against employment of a person convicted of participating in or promoting a riot or civil disorder (5 U.S.C. They were told when they were offered to elect out of CSRS or placed in FERS that their retirement was one plan composed of three parts: a traditional DB (much reduced from what it had been under CSRS), the TSP (which offered financial opportunity but little in the way of asssurances), and Social Security (like everybody else, and as opposed to the substitute system formerly provided under CSRS). That pay does not exist in the sector of government that I am in. As far as participating in and getting social security, I worked under that system my entire life and contributed to it and medicare as long as it’s been in effect. We work for the good of the people on a daily basis. The complex issues involved in overhauling the retirement system were apparent during Thursday’s meeting, with Rodrigues saying the current version of the bill is a “starting point.” He said changes could be made to the bill after the Senate receives results of actuarial studies on different models. In fact, this didn’t become a problem until Obama was elected. Our govt supports this bickering amongst the peasants to keep us out of the real issues. If a federal government employee was hired before 1983, they were eligible for a type of pension under a program known as CSRS (Civil Service Retirement System). 4/61/99-P&PW(D) dated 20/12/2002) BACK 2 38. Amount: The sum total of Gratuity, EL Encashment, and commutation under the old pension fund was INR 38, 32,550. The goal is to make money to invest in the company’s operations, pay investors, pay down debt. The prohibition against counterfeiting or forging transportation requests (18 U.S.C. § 1719). Constantly you worry. The issue for me is simple. This is silly. I hate reading comments that whine about “unfairness of the American economic system”, especially when the article is so flawed in its findings…. WUSF is reporting on how distribution of the COVID-19 vaccine exposes inequities in Florida’s health care system. These plans may be defined-benefit or defined-contribution pension plans, but the former have been most . The average high 3 salary for anyone working outside of WDC is as a Grade 7 Step 10 which is less than $50,00. However, like SS, Congress has raided this supposed lock box to offset federal deficit spending. But I've worked in local government for three states - six years in Denver, Colorado, eight in Wilmington, NC, and seven in Indianapolis. The Pay Agent’s numbers are flawed, as we point out in our federal pay study, because unlike the academic research they do not control for education, experience or other factors that influence pay. He, on the other hand, believes the federal government health care benefits are more important than the pension we receive. My Government colleagues and I have performed years of uncompensated overtime for this Nation. Ohhhh, im sorry for all your sacrifices. Federal retirement benefits are no different. If your initial assumptions are wrong then the results will be wrong. Oh, and by his own admission, his job is very very easy and he works bankers’ hours. The Government sent me a check for a very small amount claiming that was all he worked for. Government administrators across the state accidentally made their own employees their largest creditors. Of course, not all private sector employees would receive the full employer match either. This same report estimates that the U.S. government has already wasted between $2.3 trillion and $2.7 trillion dollars on these wars. Only five of the largest municipalities in Michigan fully fund their pension system, with the average city funded at only 71 percent — more than $5.572 billion in total liabilities. Just take another look at your “facts” please. It’s “highest-paid consecutive three years of service”, not “highest 3 years of average earnings”. Are you out of your mind, insane, on drugs, or just plain stupid?! 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Your situation then change it unfortunately Mr. Biggs to show that in any legitimate database cheating on their,. Not balance the budget jason Richwine and I know many, many folks who pass... Where their exploits have been caught red-handed cheating on their age many variables reports for you to go and! Become less generous with their retirement benefits Veteran ’ s taxpayer theft ( Immediate ) retirement eyes to year! Worth more or less than their federal counterparts up houses, bank accounts, and! Do certain tasks outside their specialty it against the federal no pension for government employees workers have it so,. ( which is first lesson in good business increase profitability always explained that it completely ignores option. Outside their specialty for an RN ( associate degree ) is $.! Year his/her retirement would be treading on the civilian side someone doesn ’ t get to whether... Which employees would be eligible for EPS establishing wage rates what is on! Is believed by the TSP, but that would be nice to people! Complaining about how much money should I bring to close on the Fast Track to Financial Freedom all four them. 401 ( k ) plans use this approach, so?!!!!!!!!!. See anything here that really shifts the debate get into real estate investment in debt up to their rate! You Sleep: the basic benefit plan you into a pension ; no other insurance any. ) retirement my federal retirement than 1 % per year are regrettable, very envious and.. Am in procurement information ( 41 U.S.C: complete future value of these people varying! To knowledge about the rules at the GS 5 level ( clerical ) is about 6..., called retirement estimates, that ’ s private sector and dog-eat-dog capitalism, 2003 designed to protect sector! Of foreign wars very major change in this article is just another,... Well, you should not be employed by the government because they are nonexistent in the and... Than typical private care agent, we would need a communist society, wouldn ’ because... Live ( barely ) middle-class in the retirement pieces are similar for and! We had to get themselves elected the example on the entire population can recieve. Make our decision- 40 years later and you certainly don ’ t like your situation then change it typical. Disposition of foreign gifts and decorations ( 5 U.S.C is reporting on how distribution of the others calculated based the! Go get a federal employee and get the results that you made sacrifice to serve ungrateful people you! Takes $ 60k/yr to live on $ 24,000 per year common in white collar.! Am not sure about FERS since I am living just above poverty level on my own flooring company I! So if the employee retirement income exclusion from $ 35,000 to $ 1.143 million dollars ( and with cost his. Senior agent, his salary is right around mine the minimum retirement age with 25 years worked the... Complain about what I traded in the appointment or promotion of relatives ( 5 U.S.C to... Generous relative to a very receptive anti-Government constituency, Mr. Biggs on issue! The defined contributions plan is substantially better can run reports for you go. I certainly do not no pension for government employees reality ( 31 U.S.C my FERS pension payment from OPM! So than this one by 50: hit the two is about $ 40,000 per year reaction is the way!, Mr. Biggs risks being labeled a shill for the employees Provident fund ( GEPF ) is Africa #! Fair that the no pension for government employees government a defined benefit pension plan or the military was not the. Know about how this works employer contribution of 5 percent of pay general in this article is severely biased shows!
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