Deal to Raise Employees’ Retirement Contribution
Federal negotiators stuck a deal in mid-February to significantly increase future federal employees' retirement contributions which will help pay for an extension is unemployment benefits. According to the American Federation of Government Employees, newly hired and rehired federal employees would have 3.1% of each paycheck put toward their Federal Employees Retirement System pensions. The current contribution rate is only 0.8%, so that amounts to a 2.3% increase. The increase will affect new hires and rehires beginning...
Federal Pay Frozen in 2012
After receiving a 3.5% pay increase in 2008, a 3.9% raise in 2009 and a 2% increase in 2010, federal employees have seen their pay frozen for two years. Federal employees can still receive bonuses and get a pay increase if they earn a promotion. The House has recently voted to continue the pay freeze through 2013, saying it would save taxpayers $26 billion.Â The proposed budget put forth by President Obama last week calls for a 0.5% pay increase and 1.2% increase in retirement contributions.
2012 Leave Chart
This leave chart is intended for Federal employees and will assist you in planning for federal holidays, annual leave, sick leave and comp time. The Excel version is a convenient way to calculate your balance of used leave throughout the year. Simply click HERE to download it.
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