Anticipated Pay Raise for Federal Workers in 2024
October 20, 2023
Federal employees are to receive an average pay raise of 5.2% in 2024. This figure includes an across-the-board raise of 4.7%, with an additional 0.5% on average for locality adjustments. If approved (it’s expected to pass), the new pay increase will become effective on January 1, 2024. This marks the largest annual increase in salaries […]
Federal Employees Will Receive a Significant Pay Increase in 2023
August 17, 2022
Federal employees can expect a pay increase in 2023 that is double the amount of any annual increase in over 10 years. The Senate passed an appropriations bill which silently endorses the President’s recommendation for federal employees to receive a 4.6% pay increase next year. And while specific allocations of the raise have not been […]
How Could the Fire ‘At Will’ Bill Affect Your Retirement?
August 5, 2022
A new bill was introduced to congress that would allow for a swifter termination of federal employees. And it could threaten federal workers’ retirement plans as well. The Public Service Reform Act, a bill introduced by Rep. Chip Roy, gives government officials a process to fire federal employees at will. It applies only to career […]
2022 Pay Increase Announced for Federal Workers & Military Personnel
December 27, 2021
President Biden has issued an executive order to implement his plan (originally announced in August) to provide federal workers with an average 2.7% increase in pay for 2022 The pay raise provides federal employees with a 2.2% raise across-the-board with an additional 0.5% for locality adjustments, to total up to 2.7%. The increase would take […]
Checking The OPM Backlog: Make Sure You Retire on Time This Winter
October 29, 2018
We try to report on the OPM backlog on a regular basis to provide insight into the state of retirement processing and to give employees an idea for what they can expect when they apply for retirement. The Office of Personnel Management has a significant backlog in the number of retirement applications it needs to […]
House Spending Bill Includes a Federal Employee Pay Freeze
September 18, 2018
Late summer signifies the start of budget discussions for the 2019 fiscal year. Along with discussing hot-button issues like education spending and the investment in border security, elected officials are trying to determine if federal employees should receive a raise this year or if they should instate a federal employee pay freeze. There’s good news […]
How The TSP Modernization Act Impacts Your Retirement Options
June 12, 2018
In November 2017, President Trump signed the TSP Modernization Act into law. This TSP bill is meant to increase participation in the government’s 401(k)-style retirement plan and make it easier for current and retired employees to access their funds. Despite the ease of use of the new Thrift Savings Plans, many federal employees are left […]
A 2.6% Military Pay Raise for Military Time is Likely in the 2019 Budget
May 29, 2018
In the modern media era, fake news leads to confusion and frustration. Not only is false information inconvenient, it also has real effects on people’s lives. Over the past few weeks, there has been considerable confusion about the military time pay raise. Service members want to make sure they will be fairly compensated, but worry […]
How The Holman Rule Affects Federal Employees
May 15, 2018
Congressional representatives voted to reinstate the Holman Rule this week, which allows members to propose amendments that reduce the pay of specific federal employees. Members of Congress would be able to reduce pay to one dollar for specific federal workers. This has left many political and economic experts wondering what the Holman Rule is and […]
What’s the Impact of the Federal Retirement Fairness Act?
May 3, 2018
A new bill, The Federal Retirement Fairness Act, is working its way through the congressional process as elected officials look to help employees who were temporary contract workers before they were hired full-time. Temporary workers don’t receive the same federal retirement benefits as full-time employees, and a few years of contract work can set federal […]
