Chef Jim Posted April 11, 2010 Share Posted April 11, 2010 I wonder what their grade scale or wage grade (hourly) is?? Even that... If they retire at the full age... Pension is about 70% of pay under FERS... I think the older ones in CSRS (not kicking into SS), pension is closer to 80%. That doesn't mean people in CSRS can't collect SS... They may have enough credits to collect (outside employment). FERS can get more agency matching in their TSP though... I know with me I put over 15% away... The first 4% they match dollar for dollar and the next 1% they match 50%... Then nothing after 5%. By they you mean us. Link to comment Share on other sites More sharing options...
meazza Posted April 11, 2010 Share Posted April 11, 2010 By they you mean us. All your wages are belong to us. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted April 11, 2010 Share Posted April 11, 2010 By they you mean us. I pay federal taxes too. Yes. Me too. I pay towards my own salary as due my co-workers. And no, you guys are not part of this equation. Your money goes somewhere else. We subsidize all our own jobs. Your guys money is irrelevant here. Maybe people who get all up in arms about stuff like abortion can rationalize it (how their money is spent) this way... Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted April 11, 2010 Share Posted April 11, 2010 Somewhere in this topic I was reminded that I've always felt public employees should have the right to strike. Seems to me that nothing would resolve protracted negotiations like a teachers strike, for example. All of a sudden, parties not usually privy to the process become real involved real fast. That being the case, it's just possible some of these back room deals, i.e., lulu retirement packages, might not exist. But, that's just me. Me who is on NYS Tier 1 retirement after having been in public education for thirty-six years. I questioned the package at the time, but it came to pass, so.... I know I can't strike. I had to sign that I won't... Or be fired. Link to comment Share on other sites More sharing options...
Chef Jim Posted April 11, 2010 Share Posted April 11, 2010 I pay federal taxes too. Yes. Me too. I pay towards my own salary as due my co-workers. And no, you guys are not part of this equation. Your money goes somewhere else. We subsidize all our own jobs. Your guys money is irrelevant here. Maybe people who get all up in arms about stuff like abortion can rationalize it (how their money is spent) this way... You said you had FERS. Where does the funding for that come from? Link to comment Share on other sites More sharing options...
John Adams Posted April 11, 2010 Share Posted April 11, 2010 Most government employees do not get what was reported in that article. There is only a select few who get that. I am a government employee and if I could retire today (which I can't) I will only get $1,000 a month. Not everyone who worke in government makes great wages and great pensions. So please stop criticizing all of us. The day I quit, I get bubkis from my company. Maybe a clock and a bottle of champagne. Sounds like you got a sweet deal to me. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted April 12, 2010 Share Posted April 12, 2010 You said you had FERS. Where does the funding for that come from? Not you... Me and my co-workers. My wife... Your funding goes elsewhere... Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted April 12, 2010 Share Posted April 12, 2010 The day I quit, I get bubkis from my company. Maybe a clock and a bottle of champagne. Sounds like you got a sweet deal to me. Depends how much you make. Every 2 week pay period I contribute 1% of my basic pay... That changes a bit since I get paid hourly (wage grade, not GS) and get shift diff... Holiday... The agency adds another .5%. Link to comment Share on other sites More sharing options...
Jim in Anchorage Posted April 12, 2010 Share Posted April 12, 2010 The day I quit, I get bubkis from my company. Maybe a clock and a bottle of champagne. Sounds like you got a sweet deal to me. I already know what I get. Lunch on the company from KFC. Or Sams club. Link to comment Share on other sites More sharing options...
finknottle Posted April 12, 2010 Share Posted April 12, 2010 I wonder what their grade scale or wage grade (hourly) is?? Even that... If they retire at the full age... Pension is about 70% of pay under FERS... I think the older ones in CSRS (not kicking into SS), pension is closer to 80%. That doesn't mean people in CSRS can't collect SS... They may have enough credits to collect (outside employment). FERS can get more agency matching in their TSP though... I know with me I put over 15% away... The first 4% they match dollar for dollar and the next 1% they match 50%... Then nothing after 5%. Your retirement matches what everybody else gets: you are paying into SS at the same rate, and TSP is essentially a 401k plan with typical employer matching. But you get a bonus that we peasants do not: 24 years at 62 provides you an additional annual pension of 26.4% of the average of your high three salary year (basically your ending salary). Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted April 12, 2010 Share Posted April 12, 2010 Your retirement matches what everybody else gets: you are paying into SS at the same rate, and TSP is essentially a 401k plan with typical employer matching. But you get a bonus that we peasants do not: 24 years at 62 provides you an additional annual pension of 26.4% of the average of your high three salary year (basically your ending salary). I do contribute 1% of my pay (bi-weekly) and the agency kicks in .5% for that pension. I am a bit luckier too because most in gov't get wages less than the private sector. I am wage grade employee so my scale is tied into where my employer/agency/district is based out of... That is the Quad Cities and our wage grade scale is tied to companies like John Deere (Moline)... Believe it or not, that is more than if wages were based on the industry in the Chicago area! When Districts changed here back in the early 1980's and the Chicago district turned the upper Illinois Waterway over to Rock Island, the guys working actually got an increase in pay retoactively! The ones that really make out are the guys in the district field sites that work in a lower cost of living area like central Illinois (Peoria). Yet... It is all what you want. Early on, some may think I underachieved when higher paying jobs elsewhere could be had. That is the trade off. Years ago, when the mills were going strong, nobody wanted the gov't job here. It is all about looking into the future and planning. Now, they are all beating down the door to get in. This is an angle many fail to see. They only want to see that the grass is greener on the other side of the fence all the time. Link to comment Share on other sites More sharing options...
Alaska Darin Posted April 12, 2010 Author Share Posted April 12, 2010 I do contribute 1% of my pay (bi-weekly) and the agency kicks in .5% for that pension. I am a bit luckier too because most in gov't get wages less than the private sector. I am wage grade employee so my scale is tied into where my employer/agency/district is based out of... That is the Quad Cities and our wage grade scale is tied to companies like John Deere (Moline)... Believe it or not, that is more than if wages were based on the industry in the Chicago area! When Districts changed here back in the early 1980's and the Chicago district turned the upper Illinois Waterway over to Rock Island, the guys working actually got an increase in pay retoactively! The ones that really make out are the guys in the district field sites that work in a lower cost of living area like central Illinois (Peoria). Yet... It is all what you want. Early on, some may think I underachieved when higher paying jobs elsewhere could be had. That is the trade off. Years ago, when the mills were going strong, nobody wanted the gov't job here. It is all about looking into the future and planning. Now, they are all beating down the door to get in. This is an angle many fail to see. They only want to see that the grass is greener on the other side of the fence all the time. It has nothing to do with the grass being greener. It has to do with how unrealistic the "plans" are. There's a reason that military retirement pay is based off "base" salary - because if it wasn't, the system would be totally unaffordable. The average military pension for enlisted people who do 20 years is in the neighborhood of $1500 a month. Do 30 and that number rises to around $2500. If it were like the average state of Illinois pension, it would be well over double that. The country simply can't afford to pay people who don't do anything for them a salary that's equivalent of what they were making about 10 years earlier. That's ridiculous and completely unsustainable given the size of government (thanks President Clinton/GWB). Link to comment Share on other sites More sharing options...
Jim in Anchorage Posted April 12, 2010 Share Posted April 12, 2010 Yet... It is all what you want. Early on, some may think I underachieved when higher paying jobs elsewhere could be had. That is the trade off. Years ago, when the mills were going strong, nobody wanted the gov't job here. It is all about looking into the future and planning. I think falling into the job would be a better description. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted April 12, 2010 Share Posted April 12, 2010 I think falling into the job would be a better description. No. I actively sought it. I worked at Black Rock for a short spell and transfered to the mid-west when my wife was going to the U of Illinois for her masters. Link to comment Share on other sites More sharing options...
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