Homepage › Forums › Current Events Board › Federal workforce buyout
- This topic has 3 replies, 3 voices, and was last updated 1 year, 2 months ago by
rogpodge.
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January 29, 2025 at 9:21 am #9675
Mick1ParticipantThey get paid through September 30, can quit up to Feb. 6.
The rest have to return to office.
Good. Get rid of them.
Trump administration offers federal workers a buyout to resign
Audaces fortuna iuvat
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January 29, 2025 at 10:55 am #9677
LegendKeymasterI don’t think options in the private sector are superior, and if the administration prevents hiring former employees as contractors, I don’t see many taking the deal.
hopefully I’m wrong.
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Sic transit gloria mundi (so shut up and get back to work) -
January 29, 2025 at 12:38 pm #9678
Mick1ParticipantBoth my brother and my sister (Stanford PhD) are employed in the public sector, specifically by the State of California. Their pay, benefits and retirement packages are enviable — basically unbelievable — and nowhere to be found in the private sector. BTW, California state employees are paid an average of $100,505. Must be nice. I saw a graph not long ago that showed a long, steady decline over the years in funding for the University of California and CSU systems and a long, steady increase in payments for public employees and retirement contributions.
Reminds me of when Mrs. Mick started as a teacher in the Palo Alto Unified School District. Her third year there, the union representatives asked her and the other teachers what they wanted in the negotiations. All of the new teachers — all young women — asked for pregnancy benefits. When the union reps got back, they bragged about the fat retirement increases they negotiated. No pregnancy benefits. When Mrs. Mick challenged them on that point, the 60+ year old union rep said they didn’t bring it up because he “would have looked stupid arguing for pregnancy benefits.”
Mrs. Mick retired three years after that, still in her 20s. When she retired, the same union rep demanded that she leave her retirement fund untouched (she had the option to convert it into an IRA) because “the retired teachers needed her money” — I sxxt you not, he really said that.
I’m assuming that the Federal government has similarly structured pay, benefits and retirement packages, completely out of sync with the private sector, negotiated by the public unions — unions that, per FDR, shouldn’t exist. But they do, of course.
Audaces fortuna iuvat
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January 29, 2025 at 2:27 pm #9681
rogpodge
Participanthttps://www.opm.gov/retirement-center/fers-information/
Federal retirement is not very good compared to California. Basically if you retire after 62, the annuity is 1.1% x years of service of your high 3 years of salary. Plus after 1986, you have to pay into Social Security like everyone else. There’s a TSP option, which is a pretty good 401(k) system.
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