Time Off Awards for Federal Employees
Timeâ€“off awards are a unique form of award agencies can grant Federal employees. (The other forms of awards areÂ cash, honorary items, and informal recognition items). Agencies decide when and how to use timeâ€“off awards toÂ enhance their overall awards program and support the achievement of the agencyâ€™s goals and mission. Major featuresÂ of time-off awards include the following: ` â€¢ Timeâ€“off awards do not require additional funding or cash disbursement by agencies. Because the form of theÂ award...
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.