Reply to Are foreign service benefits excessive or reasonable given the sacrifices?

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[quote=Anonymous][quote=Anonymous]There is a 20 years of service and 50 years old requirement to retire with good benefits.  At that point our pension should be worth nearly a million dollars depending on your high 3 salary. This is the most generous benefit. That is why I would need to double. My salary to leave this retirement package. Therefore I am now married to this career.
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I am an FSO, and have been for the past 14 years.  According to the retirement rules, I am elgibilbe to retire at age 55 with 20 years of service.  I probably cannot afford to do so and plan on working until the mandatory retirment age, which is 62.  At that time, I estimate my retirement package, including my TSP, will be valued at about $1.5 million.  I would not be able to do this in another job.

Additionally, I do not think that FSOs are overcompensated.  The hardship and other differentials that are mentioned in previous posts a percentage of your base salary, not a a salary with locality pay that you get in  Washington.  Also, your "high three calculation" for the defined pension benefit is calculated as a percentage of your base salary. There are a lot of FSOs who choose to do statewide tours just prior to retirement so they get the Washington locality pay included in their "high three" determination.
  
Regarding school allowances, these are a necessity.  If I were in the Washington DC area, I would be guaranteed that my children would be guaranteed a free public education.  That option is not available to us overseas, therefore the State Department has an obligation to provide the benefit for the education of our children.  
My total compensation package last year, exclusive of education and housing allowances was $140,000.  The education benefit for the school at my post was $23,000.  My housing allowance was $5,000 for a two bedroom apartment in my post city that met the standards for American housing and the security requirements set out by the Department, which included 24 hour guard, controlled access, etc.  You really cannot compare housing available in the U.S. to housing overseas on an equal cost basis – and yes, the cost and what you get for that cost is very much based on the local market.  However, in general, we are not expected to suffer a reduction in the at least the type of lifestyle we would have in the Washingon area when we are overseas, although when you are in Ougadougou or Lagos that is not a comparison that can really be made.

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