I stand by my assertion that a FERS employee CAN approach 100% if they contribute the maximum for Agency Match (5%).
Even though the CSRS (which had more generous formulas for employer match) converted to FERS in 1986, IIRC, a large majority of existing Federal employees at the time converted to FERS (or were automatically converted if they made no election). As I recall, there was some kind of incentive offered to do so.
In any case, any remaining active CSRS employees are in the process of retiring or are soon to do so.
Are there any current or retired Federal-worker Piggs here who can shed some light on how they made out (%-wise) or will make out in retirement?
Besides all the “rumor-and-innuendo hoopla,” I don’t see where you’re getting the idea that defense contractors will be affected by the Federal sequester. I checked around this morning and this is the only piece I could find which mentions this “long-term concern” published by a Washington “think tank” who seems to be fueling this panic.
. . . The cuts are scheduled to take effect March 1, but they wouldn’t come all at once. For the current fiscal year, the cuts would total $44 billion, which sounds like a ton of money but represents just 1.2 percent of planned federal outlays. Defense contractors likely would be among the individual industries hardest hit by the cuts, but even there layoffs remain “speculative and unforeseeable,” Assistant Secretary of Labor Jane Oates said. But the Pew Center on the States said cuts in discretionary defense spending could cost more than 400,000 jobs over the next 10 years in Florida, Maryland, Texas, California, and Virginia — the top five states for defense contracting.
Does any Pigg have any concrete evidence from a reliable source, (preferably someone close to the “horses mouth”) that Defense contracting is going to be cut or decimated after the “Federal sequester” takes effect March 1?
I’m not going to buy into the sheeple panic until I see otherwise. I’ve heard all this kind of talk from multiple levels of government before and all it ends up amounting to is that eligible workers are incentivized to sign up for retirement NOW and the remaining workers are “furloughed” a set amount or hours or days per month. After all the eligible workers have finally retired (6-9 mos later), it all blows over because the furloughs are extended.
I see non-critical Federal Agency workers furloughed 1-2 days per month until October 1, 2014. And then it will be back to “business as usual” for their now “skeleton crew.” They will eliminate non-essential functions and thus will “make do” and all will be well.
Sometimes I think people on this board who were unsuccessful at purchasing real property in SD while the getting was good are now grasping at straws to buy into the belief that the CA coastal-county RE market is poised for another deep crash tomorrow. deadzone, could this possibly be you?
