Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- Continuous Monitoring: Tools and Techniques for Trustworthy Government IT
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- Mission-critical Apps in the Cloud
- Mobile Device Management
- The Modern Federal Threat Landscape
- The Path from Legacy Systems
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
Search Tags: pay and benefits
Federal benefits expert Bob Braunsten will answer your retirement and benefit planning questions.
December 16, 2013
Federal employees could soon be seeing a lot less of the G Fund in their Thrift Savings plan accounts. Instead of being automatically enrolled solely in government securities, new plan participants would be shifted to an age-appropriate Lifecycle, or L, Fund as their default investing option under a proposal approved by the Federal Retirement Thrift Investment Board Monday. The proposal ultimately requires action by Congress.
On this week's Your Turn radio show, host Mike Causey examines what's in the most recent budget deal that will impact feds.
If the proposed budget deal becomes law, new federal workers will see a total of 10.6 percent of their salaries automatically withheld from their paychecks to cover their retirement benefits. That could lead to them contributing less or not at all to their voluntary Thrift Savings Plan accounts, experts said.
Newly hired federal workers will be required to contribute more toward their pensions and some military retirees will see smaller cost-of-living adjustments under a budget deal announced by Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.) Tuesday evening. The budget deal, which sets funding levels for the next two years, eases some of the bite of the automatic spending cuts, known as sequestration. The pact restores about $63 billion to agency spending through the end of fiscal 2015, split about evenly between Defense and civilian agencies.
Lawmakers, who face a self-imposed Friday deadline to come up with a fiscal 2014 budget plan, appear to be making progress toward a limited deal that would stave off another shutdown and give agencies the certainty of funding for the remainder of the year.But lawmakers with districts surrounding Washington, D.C. are preemptively speaking out against any proposal that, in their words, would "throw federal employees under the bus." Rep. Frank Wolf (R-Va.), says that too often in the past federal employees' pay and benefits have "been used as pawns in budget negotiations."
When deciding to retire there is one day, but lots of different dates, that is best for you, Senior Correspondent Mike Causey says. How do you figure out the difference?
The two employee unions say lawmakers shouldn't make up for sequestration cuts by forcing federal employees to contribute more to their retirement. House and Senate legislators are working on a small-scale budget deal that reportedly includes a provision to alter federal retirement benefits.
What do so many Washington-based politicians have in common with a firefighter with an arson problem? Both spend a lot of time solving problems they created, Senior Correspondent Mike Causey says.
Reps. Jim Bridenstine (R-Okla.) and Doug Lamborn (R-Colo.) introduced a bill Tuesday to cancel sequestration for the Defense Department for two years. The bill would offset this change by using a chained CPI to calculate COLAs for federal retirement programs along with other entitlement reforms.