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09 March 2011

FedSmith.com: How Much Will CSRS Federal Employees Receive When They Retire?

FedSmith.com Logo - click to go to FedSmith.com home page March 9, 2011
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Daily Headlines for March 9, 2011

How Much Will CSRS Federal Employees Receive When They Retire?
How much will you receive in retirement income when you retire under the Civil Service Retirement System (CSRS)? Here are some examples that will demonstrate how your retirement income is calculated.
Posted: 3/8
RELATED HEADLINES:

Hearing on Federal Employee Pay in Congress
The House Oversight and Government Reform Committee has scheduled a hearing today on federal pay levels. Those that contend employees are underpaid, overpaid and paid about the right amount will all be heard. The chairman of the subcommittee suggests that federal employees earned an average $101,628 in total compensation in 2010 -- nearly four times the average private sector salary.
Posted: 3/9
RELATED HEADLINES:

Deputy US Marshal Dies After Being Shot
A deputy U.S. Marshal died Tuesday after a man opened fire on him and two other officers in St. Louis. The suspect in the shooting was killed after a standoff with police.
Posted: 3/8

Another Temporary Spending Bill in the Wings
House Republicans are preparing a second stopgap spending bill because their budget standoff with Democrats shows no sign of reaching a resolution any time soon. Some Republicans say they are content with cutting government spending two weeks at a time while Democrats are strongly opposed.
Posted: 3/9

Poll: Americans Want to Cut Federal Employee Benefits
Americans are not in a charitable mood when it comes to the benefits for federal employees. In a poll of areas that should be cut the most, federal employees come out on top with 31 percent wanting a cut in federal worker benefits.
Posted: 3/8
RELATED HEADLINES:

Debating Public vs. Private Sector Salary Levels
The debate has been going on for decades, but the budget crunch has brought the issue to the fore as governments seek to cut expenses wherever possible.
Posted: 3/9

No Balanced Budget for 20 Years Says Hoyer
House Minority Whip Steny Hoyer (D-Md.) says it may take as many as 20 years to balance the federal budget after years of deficit spending in Washington.
Posted: 3/8

Largest Fed Union Election
A collective-bargaining vote by airport security workers is likely to give federal employee groups their biggest victory in years. President Obama is allowing the vote. Republican President George W. Bushs administration blocked union organization of the agency.
Posted: 3/9
RELATED HEADLINES:

Note to Army Commanders: Plan on Spending Less Money
Despite a continuing resolution to keep the government operating until March 18th, the Army has told field commanders to "plan for annual operations at levels below those requested in the services fiscal 2011 budget request."
Posted: 3/8

New Housing for OPM
The General Services Administration has signed a 52,000-square-foot lease for the Office of Personnel Management at 999 N. Capitol St. NW. OPM will fill the space, under a five-year lease while its E St. headquarters is brought up to the governments "green building" standards.
Posted: 3/9

Veterans Federal Employment Complaints Remain at Escalated Levels
Amid a dearth of job opportunities in the private sector, a high number of veterans last year continued to run into problems as they attempted to enter or reenter the federal civil service.
Posted: 3/8
RELATED HEADLINES:

"Mean-Sprited" Federal Spending Cuts: Save The Cowboy Poets
The National Cowboy Poetry Gathering is an annual festival in Nevada "of life in the rural West, featuring the contemporary and traditional arts of western ranching culture." Cutting this event from federal funding is over the top in the view of Senator Harry Reid (D-NV) who calls cutting this program "mean-spirited."
Posted: 3/9

Managing Stress During Budget Cutting
The anxiety among federal employees may still be high as the talks continue. Here are suggestions for federal managers to try to calm the situation.
Posted: 3/9

Are TSA's Body Scanners Effective?
Some research claims the body scanners the TSA is using might not detect explosives or guns taped to a person's body. An executive with one of the companies providing the devices admits that they are incapable of detecting explosive devices concealed inside of the human body.
Posted: 3/8

Cost of Printing Dollars Up 50%
The value of the dollar may be falling fast but it is costing a lot more to print them as the price of cotton goes up with other commodities.
Posted: 3/8

Previous Articles on FedSmith.com

Amendments Approved as Part of House Bill to Fund Govt. for 2011
The House of Representatives has passed a bill to provide funding for the federal government. Here is a listing of the amendments that were approved as part of this process.

Your Take - Will There be a Government Shutdown?
We recently asked readers in a non-scientific poll if they thought a government shutdown would take place. The results were generally not very upbeat.

Rep. Herrera Beutler Calls for Pay Cut for Congress, White House
Congresswoman Jaime Herrera Beutler (R-WA) intends to introduce legislation next week that would call for a 10% pay cut for Congress, the President, and Vice President.

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Daily TSP Rates

For March 8, 2011
  Close Change YTD
G $13.5595 +0.0011 +0.53%
F $14.2300 -0.0269 0%
C $16.0424 +0.1447 +5.48%
S $22.4684 +0.2676 +5.76%
I $20.9426 +0.0049 +4.67%
L 2050 $10.2786 +0.0632 0%
L 2040 $18.5735 +0.1022 +4.31%
L 2030 $18.0566 +0.0865 +3.83%
L 2020 $17.4876 +0.0668 +3.22%
L Income $14.8922 +0.0208 +1.47%

More TSP Rates and Info are available at the TSP Corner

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