Contact your Senator and Congressman - Federal employee pay and benefits

[Boghie]

I am fers and retired under atc early retirement rules. As a percentage of my high 3, I get 41% from fers, about 11% from supplement and i take about 18% from tsp. Not bad for me.My point was that relying on beating the market for retirement is tricky. If you are lucky you may beat the market. I have had really good years and some bad years. It is easy to think you will get rich off the market and end up losing. In the good years, I would play with calculators and dream about what I could have making 20% in the market or whatever. I am so glad I have the pension or I would be working forever to get a decent income. Especially since atc has to retire at 56!The fers plan is actually a good one although not as good as csrs. You get the guaranteed part that is safe and the tsp part tsp play with. But those that get only 1% per year would have to work for 40 years to get what I have. So I understand that tsp is the main part of most folks retirement.The point I wanted to make was that relying totally on the market and wall street can bite you. Those guys in wall street want to take your money.They are as bad or worse than congress.Just mho.

Clester, I hear you...

However, it is not hard to beat 'G Fund' returns in the equities funds. You can get an easy 6% return by mixing F with C/S/I. An 8% return can be considered normal for those with a number of years yet to invest.

All I was saying is that I consider it a gamble to demand our politicians provide a benefit I did not pay for. I would rather they be out of the game with no say in my benefits. I could invest the pension contribution (mine and theirs) in the 'G Fund' if I so desire. Then it would be my baseline. My rock. And NO politician could jigger pension obligation numbers.

When I get closer to retirement I will be migrating more assets for more time to the G/F. Till then, it is rather dumb to force me to pay into the 'G Fund' under the full faith and credit of some politicians twenty years in the future.

Yowser.


BTW, I never rely in Beating the Market. If I lose a bit less on the dumps or gain a point on the booms I consider it gravy. Like FWM, I count on an 8% return and a 3.1% inflation rate. Nice and smooth. Almost there now...

 

[clester]

Fers plus social security plus tsp.

 

[Boghie]

Fers plus social security plus tsp.

That's good news Clester.
Very good news.

Can I count on you to march around the White House with me if the politicians start jigging and jagging? Yuk, yuk.

BTW, reading your post tells me you are looking pretty good. Safe money at a huge percentage of high salary. Good to Go...

Also, FERS employees get a better benefit for years served over 20. More than the 1% thing. Adds up. Maybe too much. Eyes watching, eh.

 

[clester]

I agree it may not be paid for. Not sure about that. My brother has 401k only retirement and they match 15% I believe. He figures he will be working for a very long time to have enough to retire. He is a buy and holder that has many funds and diversified.He won't be rich off his 401k. Like most folks the last 10 years, his account is not even back to 2000 levels. A lost decade of throwing the max in and getting nothing.Just saying. Know the risks.

 

[Boghie]

I agree it may not be paid for. Not sure about that. My brother has 401k only retirement and they match 15% I believe. He figures he will be working for a very long time to have enough to retire. He is a buy and holder that has many funds and diversified.He won't be rich off his 401k. Like most folks the last 10 years, his account is not even back to 2000 levels. A lost decade of throwing the max in and getting nothing.Just saying. Know the risks.

There is much value in what BirchTree states.

DCA will treat your brother quite well. Just think of all those shares he purchased at half price for long periods of time in that 10 year span.

My guess is that your brother - if he invested in equity funds - is being modest. Or, maybe doesn't have the tools to calculate into the future. You two will problaby be sharing fine steak diners with the proper vino on his retirement. You guys will be helping the economy as you travel the nation in your jets and Winebegos (spelling???).

LateR.

 

[Birchtree]

Don't you have mucho compassion for all those blurry eyed college kids that voted for Obummer on a slogan of hope and change - sh*t not me. They can all move back home for all I care.

 

[Scout333]

Share-the-pain list out today Check out Mike Causey's Column today! Ouch!
September 19, 2011 - 2:02am
http://federalnewsradio.com/?nid=20&sid=2551342

 

[Frixxxx]

http://www.federalnewsradio.com/?nid=699&sid=2552215

Looks like about 2 million voters won't be re-electing next year.

 

[burrocrat]

Well I got some good news and some bad news.

The bad news is it looks like my take home will be considerably less in the future.

But the good news it's mostly only user fees and not taxes so the politicks are keeping their word.

Even better news is that it only applies to the wealthy, so I must be weathly now, woohoo! It's about time.

But the best part is that I get to keep riding this gravy train a bit longer at least, as it appears the red ink supplier is too busy over in Greece and hasn't started foreclosure proceedings here, yet.

 

[James48843]

Govexec has it's story on it too- FERS contribution details -
http://www.govexec.com/story_page.cfm?articleid=48829&dcn=todaysnews

That proposal,- 0.4% increase in employee contribution each year over three years, is considerably less than the republican proposal of doing away with FERS altogether.

 

[burrocrat]

Every cloud has a silver lining.

At least with the no FERS plan I would have a concrete number to base my retirement projections on and there wouldn't be any nasty surprises later.

Plus the red ink guys should really go for that one. Maybe they'll give us a discount on future orders.

 

[Boghie]

Take my pension, but release my 'investment' into the pension.
To be nice the employer could release all/some of their contributions to FERS.

I will invest those assets into TSP - and a 401(k)/IRA at a later date.

Please do not force me to invest ONLY in the 'G Fund'.

Under the full faith and confidence of todays politicians.

 

[burrocrat]

Take my pension, but release my 'investment' into the pension.
To be nice the employer could release all/some of their contributions to FERS.

I will invest those assets into TSP - and a 401(k)/IRA at a later date.

Please do not force me to invest ONLY in the 'G Fund'.

Under the full faith and confidence of todays politicians.

Great idea. Maybe could I interest you in one of these here Weimar Wheelbarrows? It's yours for only half the transfer balance, that should save you a bunch of trips while you carry all that paper over to your other paper dealer.

 

[Boghie]

Hey Burrocrat,
I'll take all the paper I can get...

There is one definite known. That known fact is that you cannot trust today's politicians to plan your future.

 

[burrocrat]

I really don't like mutton, but now I know how it feels to be the sacraficial lamb. Although it is a bit unnverving watching the two sides argue how to chop me up.

I don't know Boghie, I think I believe them this time.

If this is what a large class of new politicks can do, I wonder what happens when the whole lot of them get replaced?

Plus then I get to plan my own future? Sweet.

 

[jkenjohnson]

Take my pension, but release my 'investment' into the pension.
To be nice the employer could release all/some of their contributions to FERS.

I will invest those assets into TSP - and a 401(k)/IRA at a later date.

Please do not force me to invest ONLY in the 'G Fund'.

Under the full faith and confidence of todays politicians.

Is there a proposal to only allow us to invest in the G fund? I missed it if there is.

 

[James48843]

Is there a proposal to only allow us to invest in the G fund? I missed it if there is.

Don't worry. They won't let you miss anything.


Everyone will have to give something- some more than others.

 

[Boghie]

Is there a proposal to only allow us to invest in the G fund? I missed it if there is.

The pension portion of our retirement (FERS) is invested in Social Security bonds. As is the 'G Fund'. As is, obviously, the Social Security 'Lock Box'.

 

[Viva_La_Migra]

The pension portion of our retirement (FERS) is invested in Social Security bonds. As is the 'G Fund'. As is, obviously, the Social Security 'Lock Box'.

Which means it has already been spent.

 

[jkenjohnson]

Everyone should go to FedSmith and look at all of the proposals that the super committee came up with. Increasing our potion of the basic annuity to7%, using high five for retirement calculations, eliminating locality pay....... goes on and on.