1. Feds, You’ll get your 1% raise, (if you’re still working).
Short answer: No effect on benefits for Active Military and Active Feds, minor effect on Retired NG/Reserves, much effect on Active Duty Retired Veterans, Retired Feds, and Future Feds.
This is what showed up on my RSS newsreader this week….
Notice a recurring theme here? Federal Employee Morale stinks. This is because overall Federal Employee compensation is shrinking while workloads are expanding (due to hiring freezes). Pay, benefits, and the FERS Annuity itself are once again bargaining chips on the table.
No wonder 12,000 Feds bailed out in October.
Two Navy commands I met with last month were both mentally preparing themselves for the Next Shutdown (in January 2014).
What to do? Continue reading
Last week the TSP announced that TSP Hardship Withdrawals totaled 8,200 during the 16-day Government Shutdown (versus 5,500 during the same period in 2012). So far in 2013 the number of TSP Withdrawals adds up to over 104,000 transactions.
Over 8,000 TSP hardship withdrawals in 2 weeks is pretty staggering considering that nobody actually lost income (all Federal Employees were made whole for lost pay and leave following the shutdown). Paychecks were never forfeited- just delayed. But I guess a lot of folks are in some pretty dire cash flow conditions, considering that eligibility to make a TSP Hardship Withdrawal requires one of the following: Continue reading