Tuesday March 20, 2012
The US Office of Personnel Management maintains two retirement systems for federal employees. The older of the two is the Civil Service Retirement System. The newer one is the Federal Employees Retirement System. New federal employees are automatically enrolled in FERS and do not have the option to join CSRS.
There are several key distinctions between the two systems. Chief among them is that CSRS is a traditional pension plan, and FERS is a three-component retirement plan. Those three components are a smaller pension than the one offered under CSRS, the Thrift Savings Plan and Social Security.
Read more: What Are the Differences Between FERS and CSRS? | Government Careers Glossary: Federal Employees Retirement System | Government Careers Glossary: Civil Service Retirement System
Thursday March 15, 2012
In a 57-41 vote, the US Senate voted down a bill amendment to extend the current pay freeze on federal workers. The amendment would have extended the freeze through the end of calendar year 2013. This would have added a third year to the existing two-year freeze.
Consumer prices have gone up over the past few years, and federal workers have had to eat those costs. Perhaps senators thought enough was enough for the time being. Federal employee unions lobbied against the provision as it was going through the House of Representatives and when it came to the Senate.
You can read more in a Federal Daily story.
Thursday March 15, 2012
A study released last week by the Economic Policy Institutes shows that entry level salaries have declined over the past decade. The reductions have impacted both high school and college graduates entering the workforce. The pay gap between genders has remained relatively stable over the same period.
The entry level wage for a male high school graduate dropped from $12.82 per hour in 2000 to $11.68 in 2011. The drop for female high school graduates was from $10.93 to $9.92.
The wage for male college graduates fell from $23.47 per hour in 2000 to $21.68 in 2011. The wage for females went from $20.00 to $18.80.
You can read more at the EPI website.
Wednesday March 14, 2012
With primaries this spring and a federal election this November, the US Postal Service has decided to delay planned closures and consolidations of mail processing facilities. Officials in several states complained that the changes could confuse voters who make a habit of mailing ballots close to mail-in deadlines or Election Day.
Postmaster General Patrick Donahoe asked Congress for the delay so USPS could retain staffing levels during this critical period. Mail-in voting has gained popularity over the last few elections. Washington and Oregon conduct their elections almost exclusively by mail.
You can read more in a Washington Post story.