5:16 am, May 25, 2015

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  • 7

  • buyout
    Wish they would hurry, I am AFMC and ready.
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  • Buyout blindness ...
    O2B XFed
    I never understood the buyout blindness most follks have. It makes no sense to retire because of a buyout. Assuming a CSRS employee as most retirees at this time still are and an $80,000 annual salary for round numbers, a $25,000 buyout usually nets a person after taxes about $18,000. However, if the person "really" retires as in works in the garden all day or goes fishing and does not become part of the blood sucking contractor shadow government, the employee "looses" about 1/3 their previous salary every month. That $80,000 salary is about $6,666 monthly and the retiree only gets about $4,444. The $18,000 buyout windfall therefore is "used up" in around 8 months without even counting that continuing to work increase the retirees take home percentage in addition to producing more current income. On the other hand, if the employee plans to continue to work, a CSRS employee is smart to get out as early as possible and not wait for a buyouy. There is nothing nicer than getting around 2/3 your government pay as a retiree and still earning close to full pay working a private industry job.
    Finally ExFed
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  • Buyout
    I took one in 2005; best thing I ever did and have never looked back! And yes, I was CSRS. I would say that IF anyone is even close to retirement and your numbers are good; jump in! The water is fine!
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  • Careful
    If you are looking for a new job, the job situation was better then than it is now. Compare the CSRS pension difference with your job and what you can expect from your new job. If you are FERS, be more careful. Your FERS pension is not so good.
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  • FERS Pension Not Good??
    Moderate - go ask the millions who are unemployed if the FERS pension is any good. I'm sure there are plenty who ARE employed who would take a FERS style pension.
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  • Rob
    Please think before you write. i was comparing FERS and CSRS and determining whether the pension is a good factor to consider. Let us use a retirement eligible person below 62 with 30 years of service. Under CSRS you would get ABOUT 56.25% of your salary minus about 5% for survivor benefits.(I realize the survivor benefit formula was not used exactly correctly) Under FERS you get 30% of your salary minus about 2 1/2%. It is much easier to make up about 50% of your salary than over 70% of your salary. You also get some kind of social security supplement which will probably be lost with a full time job. In both cases your thrift plan is yours whether you are working or not. Again, I am aware you cannot draw from your thrift plan while working for the government, but can get loans.-------------------Rob, before you criticise, please read the context of what I am writing about. My comments had nothing to do with the unemployed.
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  • buyouts
    Factoring in inflation, the $25K offer is a very old number. By now the government should be offering about $50K buyouts across-the-board. The 10% employee reduction would easily be met on free will instead of trying to target a workforce reduction in certain agencies.
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