When will SEC restore the TSP match that it eliminated a few months ago?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Thank you for your question.

This is Chair Gary Gensler. Although you might imagine SEC would provide updates on this policy through any number of official channels, because you’ve posted about this topic with such frequency, I’m pleased to announce an update here, on DCUM, before anywhere else.

SEC will restore the TSP match on February 29, 2026. Please refrain from asking about this topic again, or the Commission will be forced to reconsider our determination.

Love,

Gary

I doubt you’ll be there in Feb 2025, much less 2026. But thanks.

Can you provide some detail on why you assumed that your budget would increase in an election year with a GOP congress and thus went on a hiring binge? (You’d probably bring an enforcement action against anyone on Wall Street you made a similar stupid assumption).

Oh no! You asked again! Now the date’s been moved to 2027.

Not mad at you, just disappointed,

Gary

[Anonymous]

Anonymous wrote:Agree. The union works for management. Suck as many dues as possible using scare tactics. If you need the union on a serious matter "suck a duck" or whatever management tells Greg Gilman to do.

the highest paid feds don't think they have a good union?

[Anonymous]

I worked at another agency before the SEC. Trust me, the union at the SEC is super good. People complaining haven't probably worked in other fed jobs. The Union at SEC actually gets stuff for us, and fights back.

[Anonymous]

You provably haven't been screwed by the SEC inion yet. I hope you aren't ever in a position to really need the union support you are promised. That's when you get the double screwing from mgmt + the union-at your lowest and most desperate time. I don't have high hopes: shifty new employees and budget crunches have/will cause other employees pain.

[Anonymous]

Anonymous wrote:I worked at another agency before the SEC. Trust me, the union at the SEC is super good. People complaining haven't probably worked in other fed jobs. The Union at SEC actually gets stuff for us, and fights back.

lol. Yeah, super good — the only union in the country where the employer CUT retirement benefits in this environment. It this union is “good,” I’d hate to see bad.

[Anonymous]

So they cut the supplemental 401K contribution of 3%? Is that correct? I don't think they can cut the TSP match of 5% because that is written in Federal law.

If you don't like a 3% cut to your 401K, you're free to go back to Wall Street.

[Anonymous]

Goodness, there sure are a lot of crabs in this bucket

[Anonymous]

The Ken Johnson memo from March said that the 3% would be through 9/30/2024. I have not heard anything else. I hope they can continue it come 10/1.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I worked at another agency before the SEC. Trust me, the union at the SEC is super good. People complaining haven't probably worked in other fed jobs. The Union at SEC actually gets stuff for us, and fights back.

lol. Yeah, super good — the only union in the country where the employer CUT retirement benefits in this environment. It this union is “good,” I’d hate to see bad.

Lol, you clearly have not worked at another agency. SEC Snowflake. Be appreciative of what you have, bud.

[Anonymous]

You SEC folks are pathetic to accept this so casually. A 3% paycut is unheard of in the government. Whether your compensation is above other agencies is totally irrelevant.

[Anonymous]

Anonymous wrote:You SEC folks are pathetic to accept this so casually. A 3% paycut is unheard of in the government. Whether your compensation is above other agencies is totally irrelevant.

They can always demand to switch to the GS scale and the certainty that brings

[Anonymous]

Anonymous wrote:

Anonymous wrote:You SEC folks are pathetic to accept this so casually. A 3% paycut is unheard of in the government. Whether your compensation is above other agencies is totally irrelevant.

They can always demand to switch to the GS scale and the certainty that brings

Again, totally irrelevant what pay scale they're on. They got a 3% pay cut. By your logic, they should willingly accept any pay cut as long as it puts them above the GS scale.

[Anonymous]

I lost the 3% and $10,000 in the student loan repayment program. In addition no cash awards this year vs the $3500 I received last year.

[Anonymous]

Anonymous wrote:You SEC folks are pathetic to accept this so casually. A 3% paycut is unheard of in the government. Whether your compensation is above other agencies is totally irrelevant.

You mean other than when FERS started requiring 4% contributions from employees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You SEC folks are pathetic to accept this so casually. A 3% paycut is unheard of in the government. Whether your compensation is above other agencies is totally irrelevant.

You mean other than when FERS started requiring 4% contributions from employees.

That was not a pay cut for current employees. Current employees remained at their existing contribution levels.