Retirement and Sick Leave

[rokid]

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Mike wrote:

If it wasn't for this company and others like it providing the jobs (and thus the income and the tax revenue), you and I would NOT have jobs in our current capacity.

Give that one some thought.

Oh, I'm sorry. WalMart is great for the country. Unskilled jobs, low wages, limited or no health care. Might be a great job for a high school/college student or a retiree. However, raise a family on WalMart wages? I don't think so.

Here's an interesting bit of info I found as a result of Googleling for "WalMart federal tax":

Your tax dollars pay for Wal-Mart's greed

• The estimated total amount of federal assistance for which Wal-Mart employees were eligible in 2004 was $2.5 billion. [“Harper’s Index,” Harper’s Magazine, Vol. 310, No. 1858, 3/2005]
• One 200-employee Wal-Mart store may cost federal taxpayers $420,750 per year. This cost comes from the following, on average:
  • $36,000 a year for free and reduced lunches for just 50 qualifying Wal-Mart families.
  • $42,000 a year for low-income housing assistance.
  • $125,000 a year for federal tax credits and deductions for low-income families.
  • $100,000 a year for the additional expenses for programs for students.
  • $108,000 a year for the additional federal health care costs of moving into state children's health insurance programs (S-CHIP)
  • $9,750 a year for the additional costs for low income energy assistance.
  [THE HIDDEN PRICE WE ALL PAY FOR WAL-MART, A REPORT BY THE DEMOCRATIC STAFF OF THE COMMITTEE ON EDUCATION AND THE WORKFORCE, 2/16/04]

Is this accurate? I don't know - I'll check it out later. However, if it is true, WalMart is creating a need for government jobs, but not necessarily providing the tax revenue to support them. Did WalMart pay $2.5B in taxes last year?

 

[Birchtree]

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I don't shop at Walmart primarily because the stores and parking lots are always too crowded. I prefer a little serenity when I shop and will pay more for the quietness. It is interesting to note that their employees do have a profit sharing plan as part of their retirement plans. Are you familiar with a company called Cifra? They are located in Mexico and are really growing and happen to be owned by Walmart. When the immigrant workers from Mexico come to Florida to work, guess where they buy their groceries. Walmart has the best Latino grocery selection probably in the world. They are now growing in China - and soon to who knows where else. I like the idea of that profit sharing plan though. We could talk about the reduced or free lucnch program - but it would get messy. Take care

Dennis

 

[Dave M]

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There are people here in Key West thatdrive 300 milesto Miami and back just to go to the WalMart store up there. D

 

[Guest]

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I am in FERS and will be retiring at the end of January. I have around 800 hours of sick leave that I most likely will not use and can not donate to the voluntary leave program. Seems you can only donate annual leave; not sick leave.

I am a GS-14 and it only seems fair to me that I should be able to donate my accumulated sick leave to an individual who needs it. The possibility of my having used that sick leave surely was factored into the annual budget over the years so it seems I am giving that money back to the government instead of going to a worthy person.

Dell

 

[mlk_man]

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I think what they should do is take an average of what all federal workers use each year, and I'm sure they know this, and if one doesn't use that average when they retire, they pay you the difference. Gives incentive to go to work everyday and make doctor's appts. in the evenings or on weekends.

 

[mlk_man]

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How about two separate sick leave accounts. One for more long term situations like lenghty illnesses and pregnancies and one for shorter term like Doctor appts? If one doesn't use all their short term hours, they get paid for it when they leave?

The long term account might even be set up as an annual number like 140 hours or whatever with no carry over and is based on age or length of service while the short term account earns less hours per pay period but does carry over?

Just thinking out loud...............

 

[Birchtree]

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The private sector has developed what is known as PTO (paid time off) where all benefits such as vacation and sick leave are in the same account. There is no differentiation between the two, you spend as necessary. And since the hours belong to you they are paid on termination after a certain vesting period that varies with employers. It's a nice benefit that can boost the 401K plan amount. Everybody will soon be an investor - or at least be seeking advice from those that think they know how to invest. Finding a good investment adviser is like trying to find a doctor that works weekends. I'm ready for next week!

 

[mlk_man]

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Sounds good to me, but do they have a maximum carry over limit like we have?

 

[azanon]

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Please stay on topic, those of you. The thread is about "Retirement and Sick Leave". Take the Walmart conversation someplace else.

 

[Wheels]

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Nightmover wrote:

Seems you can only donate annual leave; not sick leave.

Is that an agency thing? In the FAA you can donate sick as long as you keep a minimum balance for yourself (I forget the number - 240 maybe)

Dave

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[Guest]

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Dave: I am having trouble logging in still. I previously posted with the username Nightmover and had to change it to get back in. I am going to go back to lurking rather than posting. To answer your question, I have always felt it had something to do with the fact that I belong to FERS; but if you also belong to FERS I believe it must be an agency thing with my agency.

Dell