Why is the SEC slashing retirement and other benefits?

[Anonymous]

Anonymous wrote:Some agencies have legislative authority to go off GS. Most do not. That’s Congress, not the market. Saying it’s the market would be as dumb as saying the difference in income vs long term capital gains taxes is set by the market.

We’ll Congress allows it because supposedly they can’t recruit good employees without higher pay, and that’s due to the market.

[Anonymous]

Anonymous wrote:Some agencies have legislative authority to go off GS. Most do not. That’s Congress, not the market. Saying it’s the market would be as dumb as saying the difference in income vs long term capital gains taxes is set by the market.

I'm not sure what your point is.

SEC salary is not set by legislation.
SEC salary is set by management.
Factors that go into management decisions about how to set pay, both individually and collectively, is the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some agencies have legislative authority to go off GS. Most do not. That’s Congress, not the market. Saying it’s the market would be as dumb as saying the difference in income vs long term capital gains taxes is set by the market.

I'm not sure what your point is.

SEC salary is not set by legislation.
SEC salary is set by management.
Factors that go into management decisions about how to set pay, both individually and collectively, is the market.

And still the salaries of SEC employees are significantly less than what they might get paid in private… Which just adds further confusion about why management thought cutting benefits (instead of other costs) was a smart idea.

[Anonymous]

Anonymous wrote:Oh please. Most DOJ lawyers haven’t tried a case in their lives. And even if they did, it’s not rocket science.

You don’t think AUSA’s try cases? They are DOJ lawyers, you know. And they work in the AD scale, often making less than those on the GS scale.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh please. Most DOJ lawyers haven’t tried a case in their lives. And even if they did, it’s not rocket science.

You don’t think AUSA’s try cases? They are DOJ lawyers, you know. And they work in the AD scale, often making less than those on the GS scale.

AUSAs are underpaid. What's your point? That we should therefore underpay everyone. Your analytic skills are lacking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some agencies have legislative authority to go off GS. Most do not. That’s Congress, not the market. Saying it’s the market would be as dumb as saying the difference in income vs long term capital gains taxes is set by the market.

I'm not sure what your point is.

SEC salary is not set by legislation.
SEC salary is set by management.
Factors that go into management decisions about how to set pay, both individually and collectively, is the market.

Meh. You’re both kind of wrong. SEC management sets the salary ranges and raises every year, not legislation like the GS scale. But it’s also a stretch to say SEC management follows the market. Just look at the current comp agreement. The formula is tied directly to GS raises. Doesn’t mean next agreement will be, but I’m just making the point that SEC management factors in what’s going on with the rest of the government as much as if not more than “the market.”

[Anonymous]

I'm sorry have you met the Republican party?

After 2025 what to you think will happen to government jobs and pay scales?

[Anonymous]

So is this reduction permanent? I can’t believe they’d suddenly REDUCE retirement benefits like that in the middle of a high-inflation, low unemployment environment. Just cruel.

[Anonymous]

I sure hope not…

[Anonymous]

Anonymous wrote:I'm sorry have you met the Republican party?

After 2025 what to you think will happen to government jobs and pay scales?

No but I've met the Democrat party and my tax rate is presently just shy of 40 percent! I imagine that will go back to fifty or sixty should the Democrats stay in office, but hey, who cares, as long as my tax dollars fund your elaborate pension. Btw, F off!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry have you met the Republican party?

After 2025 what to you think will happen to government jobs and pay scales?

No but I've met the Democrat party and my tax rate is presently just shy of 40 percent! I imagine that will go back to fifty or sixty should the Democrats stay in office, but hey, who cares, as long as my tax dollars fund your elaborate pension. Btw, F off!

Top marginal tax rate under Biden has been 37%. Top marginal tax rate under Trump was 39.6%.

[Anonymous]

Anonymous wrote:So is this reduction permanent? I can’t believe they’d suddenly REDUCE retirement benefits like that in the middle of a high-inflation, low unemployment environment. Just cruel.

The benefits are only as permanent as the CBA, which is due for renegotiation. Management doesn’t exactly have a rep for being openhanded in their negotiating strategy. It’ll all end up going before the Labor Board again, mark my words.

[Anonymous]

This is unbelievable. I suspect there will be an exodus over the next year. Where’s the union???

[Anonymous]

Anonymous wrote:This is unbelievable. I suspect there will be an exodus over the next year. Where’s the union???

The union advocated as hard as they could for a better budget. They can’t control Gary’s poor financial decisions, unfortunately.

[Anonymous]

Funny how they cancelled loan repayment SLRP benefits just as Biden forgives billions in loans. Messed up.