Furlough Thread

[Scout333]

FYI,
Furlough information from OPM

Furlough Guidance

 

[James48843]

Furlough advice about what do regarding your TSP, from the TSP:

If you have been furloughed as a result of sequestration, you may be wondering how to deal with the financial impact. This fact sheet addresses some of the questions you may have about your TSP contributions. It also details alternatives for accessing your TSP funds should you face financial hardship as a result of being furloughed.

How will a furlough affect my TSP contributions?
​

As you know, your TSP employee contributions are deducted from your pay. If you are currently makingcontributions based on a percentage of your basic pay,here’s what happens: If you earn $1,000 of basic payevery two-week pay period and you contribute 10% of it to the TSP, you’d have a $100 TSP contribution everypay period. If you are furloughed for 2 days per pay period, then your basic pay would decrease to $800 and, as a result, your TSP contribution would decrease by an equal percentage so that your contribution would be $80 per pay period. Simply stated, your TSP contribution decreases in direct proportion to the reduction inyour basic pay. Therefore, you may find that lowering your contribution percentage is not​

​

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necessary.​

sary.​

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More-- in a newly released TSP Furlough fact sheet :
https://www.tsp.gov/PDF/formspubs/oc13-7.pdf

​

 

[Frixxxx]

I'm in the DoD, Air Force. Just received an email -- we'll be furloughed 1 day/wk starting 1 May.

Did they say which day? I'm hearing some have a choice. So just asking.

 

[Buster]

What the FAA might have to bear..

DOT spending for FY 2012 = $84.6B
DOT estimated sequest. cuts = $1.6B
percent cuts = 1.9%

FAA spending for FY 2012 = $16B
FAA estimated sequest. cuts = $.6B
Percent cuts = 4%

Questions comes to mind

Why does the FAA have to be cut by double the percentage of the Parent Agency?
Why does FAA, with only 19% of the total DOT budget have to absorb 37.5% of the total DOT cut?



Reference: DOT financial report http://www.dot.gov/sites/dot.dev/files/docs/fy-2012-agency-financial-report.pdf

 

[nnuut]

What the FAA might have to bear..

DOT spending for FY 2012 = $84.6B
DOT estimated sequest. cuts = $1.6B
percent cuts = 1.9%

FAA spending for FY 2012 = $16B
FAA estimated sequest. cuts = $.6B
Percent cuts = 4%

Questions comes to mind

Why does the FAA have to be cut by double the percentage of the Parent Agency?
Why does FAA, with only 19% of the total DOT budget have to absorb 37.5% of the total DOT cut?



Reference: DOT financial report http://www.dot.gov/sites/dot.dev/files/docs/fy-2012-agency-financial-report.pdf

Because it makes the Castration look worse, simple!:nuts:

 

[nnuut]

Sequester spin: Obama’s false claim of Capitol janitors receiving ‘a pay cut’Posted by Glenn Kesslerat 03:27 PM ET, 03/01/2013
Sequester spin: Obama’s incorrect claim of Capitol janitors receiving ‘a pay cut’ - The Washington Post

 

[Weather]

Did they say which day? I'm hearing some have a choice. So just asking.

We work a compressed work schedule: 8 days @ 9 hours (72 hours) and 1 day at 8 hours (8 hours); per pay period (72+8=80).

They plan on reducing it to 8 days at 8 hours (64 hours).

 

[burrocrat]

Re: Furlough Thread (HURL ALERT !)

I mentioned it as it relates to Furloughs because people were talking about possible 'dropping tax brackets'. And while you will pay less taxes, its not nearly as drastic as people were implying.

I mean its like trying to make the argument, which I've heard several times before, that a reason for not paying off a student loan is because the interest is tax deductible. Why pay thousands in interest and get hundreds back when you could pay $0 and get $0 back?? Not having the expense is always better than having a deductible expense (all else equal)

one possible scenario when it may be better to carry the expense as it relates to student loans:

let's say i have $40k in student loan debt financed at a fixed 2.5% (i do). my tax docs say i paid ~$875 in interest last year and the deduction results in ~$300 reduced tax liability (it does). if i had an extra $40k kicking around (i don't) would i be better off paying the loan and getting clear or carrying the debt?

1) it saves me $300 in taxes.
2) if i can take the $40k and earn more than 2.5% investing the principal (some years -5% and some years +16% average +8%) then i've beat the spread and pocket on average +5% every year.
3) if i am a gov employee (i am) i can sign up for the income based repayment plan. that means your loan payment is calculated as a function of gross salary and family size compared to poverty level until you earn enough to make the standard payment on a ten year amortization. and after ten years of timely repayment any remaining balance is 'forgiven'. this is meant to provide incentive for educated young folks to chose a career in government. in reality, only the first few years does your monthly payment shake out to ~$150-$200 per month. by year 4, if you have any kind of skills drive and desire , then you are paying the standard payment of ~$375 per month. but after 7 years of that you may end up paying $16k less due to reduced payments early in the cycle and the magic of compound interest. if the gov keeps its promise and 'forgives' you.

all else being equal, it is better for a young gov employee to not payoff that student loan debt? yes. is that a benefit? yes. is that an entitlement? maybe, but first you have put yourself on the hook for the payback and succesfully apply your talents at college, and then productively apply your skills at work, and then trust the gov to later make good on the promise, so maybe not.

me? i'm a gambler and always believe i can beat a 2.5% spread so it's a no brainer. but i didn't learn that in school.

 

[James48843]

From my Union-

[TD="class: arttext"]
FOR IMMEDIATE RELEASE
Contact: Kori Blalock Keller (202) 293-7277
March 1, 2013 FEDERAL-POSTAL COALITION STATEMENT REGARDING SEQUESTRATION WASHINGTON, DC - In response to the sequestration policy taking effect today, the Federal-Postal Coalition, released the following statement:
"America's federal and postal workers constitute the greatest workforce in the world. Together, they defend our country, protect the food we eat, the airplanes we board, the packages we send, and the national parks we enjoy. They possess the talent and dedication to achieve millions of feats for America each day -- unless our elected officials obstruct them.

"Sequestration and furloughs are only the beginning of a flood of uncertainty looming before our nation's federal workers. In less than four weeks, Congress and the President will face another deadline for funding the entire government. If our politicians fail to work together to arrive at sensible solutions, we risk a total government shutdown. It is personally and professionally a struggle for federal workers to do their best work when their jobs are more uncertain with each passing day.

"Our nation's federal workers want to serve every community in America, but first Congress and the White House must lead before it's too late."
#
The Federal-Postal Coalition is an alliance of 30 management, professional and union organizations representing five million federal and postal employees and retirees: American Federation of Government Employees
American Federation of State, County and Municipal Employees
American Foreign Service Association
American Postal Workers Union
FAA Managers Association
Federal Managers Association
Federally Employed Women
International Association of Fire Fighters
International Association of Machinists and Aerospace Workers
International Federation of Professional & Technical Engineers
Laborers' International Union of North America
National Active and Retired Federal Employees Association
National Air Traffic Controllers Association
National Association of Assistant United States Attorneys
National Association of Federal Veterinarians
National Association of Government Employees
National Association of Letter Carriers
National Association of Postal Supervisors
National Association of Postmasters of the United States
National Council of Social Security Management Associations
National Federation of Federal Employees
National League of Postmasters
National Postal Mail Handlers Union
National Rural Letter Carriers' Association
National Treasury Employees Union
National Weather Service Employees Organization
Organization of Professional Employees at the U.S. Dept. of Agriculture
Patent Office Professional Association
Professional Aviation Safety Specialists
Professional Managers Association
Senior Executives Association

[/TD]

 

[Birchtree]

"Blame it on the Bossanova" I have no empathy for unions - they paid for their leadership in Washington.

 

[Asylum]

Will DISA and DLA be involved in this furlough? Their staffs are paid from capital funds I believe which has gotten them a pass in recent years when furlough have been discussed.

 

[k0nkuzh0n]

Re: Furlough Thread (HURL ALERT !)

one possible scenario when it may be better to carry the expense as it relates to student loans:

let's say i have $40k in student loan debt financed at a fixed 2.5% (i do). my tax docs say i paid ~$875 in interest last year and the deduction results in ~$300 reduced tax liability (it does). if i had an extra $40k kicking around (i don't) would i be better off paying the loan and getting clear or carrying the debt?

1) it saves me $300 in taxes.
2) if i can take the $40k and earn more than 2.5% investing the principal (some years -5% and some years +16% average +8%) then i've beat the spread and pocket on average +5% every year.
3) if i am a gov employee (i am) i can sign up for the income based repayment plan. that means your loan payment is calculated as a function of gross salary and family size compared to poverty level until you earn enough to make the standard payment on a ten year amortization. and after ten years of timely repayment any remaining balance is 'forgiven'. this is meant to provide incentive for educated young folks to chose a career in government. in reality, only the first few years does your monthly payment shake out to ~$150-$200 per month. by year 4, if you have any kind of skills drive and desire , then you are paying the standard payment of ~$375 per month. but after 7 years of that you may end up paying $16k less due to reduced payments early in the cycle and the magic of compound interest. if the gov keeps its promise and 'forgives' you.

all else being equal, it is better for a young gov employee to not payoff that student loan debt? yes. is that a benefit? yes. is that an entitlement? maybe, but first you have put yourself on the hook for the payback and succesfully apply your talents at college, and then productively apply your skills at work, and then trust the gov to later make good on the promise, so maybe not.

me? i'm a gambler and always believe i can beat a 2.5% spread so it's a no brainer. but i didn't learn that in school.

There are many possible scenarios. I was just stating the most basic, bare bones case and the key was the inclusion of "all else equal"

Like you said, if you can beat the spread and afford the risk, it makes sense to carry the debt... and A LOT of people use this argument when comparing the two; yet they usually fail to actually invest the money! They either leave it in a savings account (best case) or they spend it on something else!
Another good example is if you have other debt with higher interest rates, or similar interest rates that aren't tax deductible... credit card debt being a big one.

I personally paid off all of my $40k in student loan debt within 9 months of graduation, granted my interest rates were 6.8-8.3%, not anything close to 2-3%. Except my federal loans. I left a balance of < $50 on those because when you pay more than the monthly minimum, the payment due dates are adjusted. So I don't owe my next payment until November 2017 :laugh:. And I know if I paid off the remaining balance, the account would close and my credit rating would drop. I'll gladly pay the couple bucks a year to help my credit rating grow

 

[Frixxxx]

Will DISA and DLA be involved in this furlough? Their staffs are paid from capital funds I believe which has gotten them a pass in recent years when furlough have been discussed.

I'm SPAWAR and we are capital funded, and they are telling us furlough.

 

[Birchtree]

Just think about all the trillions BHO spent on nonsense like solar panels, wind mills, electric cars, unions, etc.....nobody to blame but himself. I forgot cash for clunkers, free food stamps for 50 million folks, 99 weeks for unemployment, free cell or smart phones and all those campaign stops wasting tax payer money. He should be ashamed of himself. Oh and the shovel ready stimulus that wasn't really shovel ready.

 

[nnuut]

Just think about all the trillions BHO spent on nonsense like solar panels, wind mills, electric cars, unions, etc.....nobody to blame but himself. I forgot cash for clunkers, free food stamps for 50 million folks, 99 weeks for unemployment, free cell or smart phones and all those campaign stops wasting tax payer money. He should be ashamed of himself. Oh and the shovel ready stimulus that wasn't really shovel ready.

I xouldn't have said it better, except there is a lot more!

 

[Warrenlm]

Furlough Watch: Potential Agency-by-Agency Impacts of Sequestration - Management - GovExec.com

 

[Viva_La_Migra]

I think federal employee unions are missing out on an opportunity to change some government wide regulations since sequestration is in effect. If Agencies are going to furlough employees, then employees should be given blanket approval to have another job, start a small business, or write a book. How is it fair that Congressmen and Senators can make millions writing books, on top of their generous salaries, but Executive Branch employees can't? IT AIN'T RIGHT!

 

[James48843]

I think federal employee unions are missing out on an opportunity to change some government wide regulations since sequestration is in effect. If Agencies are going to furlough employees, then employees should be given blanket approval to have another job, start a small business, or write a book. How is it fair that Congressmen and Senators can make millions writing books, on top of their generous salaries, but Executive Branch employees can't? IT AIN'T RIGHT!

Our Agency allows you to hold a second job - (in fact encourages you to..) start a small business (as long as it is not a small business regulated by your office), and write a book (as long as it is not a book directly about the subject of your agency's regulatory actions). You can write fiction all day long (oops- I mean in the evenings, after work, or on your furlough days from home) if you like.



Here is what our agency's FAQ's say:

Q: Can I get a second job?

A: On your furlough days you will be in a nonpay, nonduty status but you will still be an employee of the FAA. This means you must comply fully with requirements relating to outside employment contained in FAA Order 3750.7A, Ethical Conduct and Financial Disclosure, Appendix E – Outside Aviation Employment Policy and Appendix F–Standards of Ethical Conduct for Employees of the Executive Branch. Before you consider taking another job you should review this guidance and consult with an Ethics Program Coordinator. It also means that requirements related to FAA employment such as HR standards of conduct still apply to you as well.

No problem working as a Wal-Mart greeter!

WELCOME TO WAL-MART!

Funny Pictures at WalMart

 

[nnuut]

It's all up to our all knowing goobernment.

 

[WorkFE]

FYI, they discontinued WALMART greeters. They still have them but thats what they were hired as. They will disappear through attrition, much like us. If you frequent WALMART you will also notice the ones that do still exhist have been moved deeper into the entrances.