Reply to 100,000 federal jobs shipped out of DC and reclassify 50,000 civil servants.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]They're retiring after 30 years with 90% to 100% of their monthly pay plus benefits.[/quote]

Nope. Hasn't been true for years, that's the old Civil Service system that only exists for the oldest of fed retirees.

FERS annuities are based on high-3 average pay. Generally, the benefit is calculated as 1 percent of high-3 average pay multiplied by years of creditable service. For those retiring at age 62 or later with at least 20 years of service, a factor of 1.1 percent is used rather than 1 percent.

Age: Minimum Retirement Age*
High-3: $60,000
Service: 30 years
.01 x 30 x $60,000 = $18,000 (30% of high-3)

Yep, that's a pension of 18k a year on a 60k salary. We feds are really rolling in the money. [/quote]

You left out that the Feds now also get TSP and Social Security, where they used to only get the pension. Depending on how one's TSP did, the retirement income is about the same. [/quote]
A TSP is like a 401k that Feds contribute their own money to, just like private sector employees. You get what you put in. And they pay Social Security taxes like everyone else. 
Are you really this stupid, PP? Really?[/quote]

Apparently. And the people who listen to them aren't that bright either.

They almost sound jealous they don't have a piddly little pension as well as an IRA (TSP) the feds contribute to like everyone else. [/quote]

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