7:28 am, July 11, 2014

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  • But one of these days they will be correct (the odds are long however)
    deployed decoy
    Even a busted clock is correct once a day or 1:86,400. It use to be twice a day, but that failed to presume the 24 hour clock. OPM posted under, whats new tab, a few days ago the projected timeline to process retirement packages. That assumed the annual surge spike at the end of 2012. As for buy outs. I ran the numbers. Assuming I received a $25k VSIP offer to go off the payroll 30 Sept 12. I will still come out ahead (after taxes) simply working until 31 Dec, and that does not assume Govt matching TSP contributions and the little nudge in Hi3 working 3 more months. Thus I for one know why I will not be accepting any buyout, if offered. Then every FERS person needs to remember. The law that terminated NSPS, buried in those 1,400+ pages of law, also gave FERS employees full sick leave credit when they retire on or after 1 Jan 2014. Thus hanging around until the end of the CY13 leave year on 11 Jan 2014 will add most of a 1/2% in addition to the 1% for one more year. As well as provide the additional full 5 weeks of AL to cash out. Of course this assumes congress does not go to a Hi5 or terminate the FERS social security supplement for people under 62 in the meantime. The one down side to 11 Jan 14 as a retirement date, that is a given, no FERS Annuity until the first of March 2014.
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  • Tidal Wave is still out to sea
    LS
    There will probably be a series of waves over the next 5 years. Jolts to the Government workforce will bring on the waves. Any further tinkering with the retirement systems by Congress will likely cause a wave. Sequestration will likely cause a wave. Cutting agencies or programs will cause a wave. The continued attacks by politicians and conservative media will eventually wear down the will of Government employees to put up with it any more and they will trickle out when they have had enough. This is much different that the last time we had a large retirement wave. When I started Federal employment in the mid 70s, the employees who joined after WWII were just getting their 30 years in and reaching age 55. They didn't hand around much. They might have worked a year or two after becoming eligible but pretty much they were gone by age 57 with about 32 years service. Much different today, including me. When I began, I never thought I still be a Fed after 40 plus years. Some of the delayed retirements can be caused by the economy, some by still having children in college or a need to support adult children or aging parents. Some may be that employees are healthier now due to better medical care, less smoking, eating better and getting exercise. It may also be that working conditions are so much better now than when I started and people just like what they are doing and don't see a reason to stop until they can no longer physically do the job. The one major drawback that I see is that for a young person in Government, it's not much fun being around so many old folks and the promotion opportunities are few. Their time will come, but it may be awhile.
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  • You are right
    Linda
    LS, I must say I agree with you. However, when I started with the government, I was one of the young ones as well. Scary part is, I still am after 28 years. In my office of 34 people there are 4 or 5 younger than I am. 3 years ago it was 1, so we are getting more younger people. .................... When people want to retire at 55 reality does set in. I see a lot of people who are retired doing day care for their grandchilden. Probably not what they invisioned when they retired. Also kids, still in college, divorce and house debt when they used their house as an ATM to take that great vacation, or put thier kids through college and now can't afford to retire with a mortgage. Choices.
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  • Retirement, Buyouts
    UmbratilisFed
    It occurs to me that if you base your retirement plans on receipt of a buyout, you probably should not retire because you can't afford it.
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  • BUYOUT
    APGQASAS
    But if you already have one foot out the door because you are tired of the grind, the traffic, the the disrespect of and uncertainties caused by congress, your kid has just graduated college and you have enough in the bank to cover expenses than $25,000 starts to look like a good reason to move teh rest of the way out the door. Question: If 'pro' is the opposite of 'con' what is the opposite of progress?
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  • CONgress
    deployed decoy
    But as we so painfully know. Most of these criminals get away with it and even when charged and put on trial still use money from unknown sources, for the best legal teams in the country, to get acquitted. So they really are not CONs. Now if we could just pass laws to remove organs to sell on the open market because they are brain dead we could pay off the debt this year.
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  • 40 years??
    dailycheese
    If you are under CSRS and have 40 years of service, your net retirement pay should be as much as you receive now. Several co-workers who retired with 38 years are making more in retirement than when they were still working. Another employee, who is ready to retire, will be receiving more in net retirement pay. She plans on volunteering a couple days a week. So if you enjoy your job, good for you. Keep working. But if you are tired of the daily routine, commute, etc, and will receive as much in retirement and can volunteer or find a part time job that you enjoy, why wait? Unless Washington impacts fed retirement, I am one of the few FERS folks that actually saved sick leave, so I plan on being a part of the January 2014 stampede.
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