Posted on 11/29/2010 8:15:05 AM PST by pillut48
WASHINGTON -- President Obama plans to announce a two-year pay freeze for civilian federal workers later Monday morning, according to an administration official, the latest White House move intended to demonstrate concern over sky-high deficit spending.
(Excerpt) Read more at nytimes.com ...
The are low wage and NOT GS/Federal employees? If so, that is my point, there are low wage jobs but not on FEDS payroll but a contractors payroll and not included on average salary federal since thye are not on payroll.
Federal pensions were and are (for those still under the old system) funded through employee contributions which were at a higher rate than SocSec rates, they are not all funded by the taxpayers. These pensions would be frozen by Urkle’s “idea” as well.
Federal pensions are a small part of the federal budget.
Not true. There are only two systems and no one can join the older one now. After 1983 there is no more choice everyone is under the SS system.
Only those in the politically correct classes: women and minorities will be given such raises. It is extremely difficult for the most highly educated and competent white males to get promotions in most agencies of the government.
It might but federal unions do not negotiate pay.
He has no legal authority to use the Slash and Burn approach you favor. Congress is a separate branch of government is may surprise you to learn and the executive has no power over it for the most part. Retirement plans are established at the time of hire and that is what Congress has approved. The Courts have repeatedly ruled on the right of contract which is inviolable in a country under the Rule of Law.
congress can do anything it wants to federal retirement plans and federal pay with the presidents signature of course.
The FERS replaced CSRS. SS is in addition to FERS. Federal employees pay into both FERS and SS.
Good thing those columns are different colors because they compare different things entirely. There is very little similarity between federal jobs and those in the private sector.
CSRS pension increases are linked to the CPI-W, the same as SS. There have been no increases for this year and next due to the formula.
Rabble rousing is even more fun when the rouser doesn’t know what he is talking about. Nothing is more fun than kicking federal employees. A version of Class Warfare.
Congress can change any plan for the future but it cannot change vested rights in plans former employees signed on to. Those are contracts and not even Congress can unilaterally change them.
No question it can say “from the day blah, blah, blah...” but it cannot say “We are reducing your pension by half from this point...”
Congress can change any plan for the future but it cannot change vested rights in plans former employees signed on to. Those are contracts and not even Congress can unilaterally change them.
No question it can say “from this day forward blah, blah, blah...” but it cannot say “We are reducing your pension by half from this point...”
If you were not implying or saying that one could retire with CSRS and FERS then my apology. Misinformation is so common wrt federal pay it is easy to see it when it is not there.
SS is the biggest part of FERS. There is no other pension.
Right
I retired 10 years ago from the federal government at age 56. I have a pension of $111K. Although my pension has not increased for this year and won't next year, it is still a cadillac of a pension plan. The USG also pays 70% of my health care insurance or close to 10K a year. Federal employee compensation and benefits have gotten out of hand. There is going to be blowback from the public. It is inevitable.
Congress has unlimited power when it comes to all things involving money, they and they alone have the constitutional power of the purse.
If they can void 200+ years of contract law to bail out GM and screw the bond holders they can cut the benefits of federal workers.
Well, from what I heard it won’t be those higher paid newly elected Congresspeople, because, while I didn’t see it in the NYT article, apparently Congresspeople will not be frozen for two years. I wonder if the new Republicans and Tea Party electees will call for a freeze on Congressional pay? I, as a lowly Social Security recipient, have already been frozen for two years. I wonder what they plan for next year.
As a small stockholder, we also need to press the CEO’s of our corporations to freeze or cut back their often highly inflated salaries and bonuses and stop sending jobs to cheap labor foreign countries so they can overpay themselves. For example, the top 7 executives of GE were paid from $11 to $22 million for 2007, 8, and 9. At the same time the stock was tanking from $50 a share to as low as $5 a share, and is now stagnant between $15 and $20. Did they cut their pay, oh, no!! Did they want us stockholders to approve a Proposal for a Stockholders Advisory Vote on Executive Compensation, oh, no!! They said, “vote against this piece of stockholder democracy”. Did I listen to them, oh, no!! I want to have a say in what these clowns are doing to my company.
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