Posted on 07/09/2010 1:25:34 PM PDT by Kaslin
Really? How many federal employees are there?
“The CSRS retirement system, which is not applicable to anyone hired after 1987, topped out at 80% of your high-three years average salary, and you needed 40 years work.
The federal government, on average, hires people who are 35 years of age. At 56 the employee would have only 21 years service, and his CSRS retirement would have been about 35% of his high three.”
And most hired after 1983 are covered by the FERS retirement system in which the annuity is 1% per year. Work 40 years and you get 40% of your high-three base pay.
I wonder why the author isn’t aware that they did get rid of GS for many employees, put them under NSPS for a few years, and now they are back under GS?
I looked at the study more closely, and it appears the author did a pretty good job of it. My point about not comparing similar jobs was wrong. The author did take that into account. My other point about some federal employees serving in high risk or high cost (overseas) areas is still valid.
Poster utax’s comment concerning FERS is accurate. I don’t know why the Heritage Foundation focused on CSRS, a generous pension system by today’s standards, because most federal employees are FERS.
Your father’s federal retirement plan (CSRS) no longer exists. It was pretty generous. The present federal pension plan (FERS) pays 1% per year served. That’s not bad, but it isn’t as generous as some seem to think. Most FERS employees save for their own retirement using the Thrift Savings Plan (TSP), a program similar to private 401K pension plans.
Without unionized govt workers, the democrats wouldn’t be able to finance political campaigns using our tax dollars - in order to (later) take MORE of our tax dollars, meaning more campaign contributions - and etc, rinse & repeat.
The whole point of the piece is to make a claim that federal government employees earn more than their private sector equivalents ~ to wit, 45 year old accountants and lawyers, and letter carriers, and postal clerks, and field agents for USDA, and NHS doctors!
Since his data on pay disparities doesn't support his contention he swifts to "generous retirement benefits".
In general Heritage Foundation doesn't do a good job in this particular debate for a very simple reason ~ they hired on entirely too many retired federal employees who have an axe to grind about the way they were treated.
I know a fellow who got canned for misrepresenting a certain important management factor for several decades. I'm the guy who pointed out what he'd done. He needed fired. Heritage Foundation picked him up like he was the sweetest rose in the field.
We have several Freepers here who could put together a far more meaningful report if we were given the resources Heritage makes available to their clowns.
Too bad Heritage Foundation, you're wasting the old man's money just like your far leftwingtard counterparts at the Annenburg Foundation.
I think a restart is in order. Kick out the current management. Hire in a new management. Hire on new fellows. Start up some real studies that are truly meaningful.
Frankly, I don't care for propaganda from any foundation ~
“First, Congress should get rid of the General Schedule, which rewards employees based on their length of service, and replace it with performance-based pay, which would encourage workers to excel.”
If you think the current Civil Service System is flawed, wait until the screw-job that is “performance-based” pay.
Former military members DO NOT get their military time counted toward their federal employee retirement unless they pay into the system. They must pay 3% of their total base pay for their military time into the FERS system in order to receive retirement credit for it.
There are approximately 2 million federal civilian employees, excluding the post office. And we know that number has been growing at a steady clip.
http://www.bls.gov/oco/cg/cgs041.htm
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.