James48843
TSP Talk Royalty
- Reaction score
- 907
What is your furlough status?
How are you holding up?
(Keep it non-political, please)
How are you holding up?
(Keep it non-political, please)
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Your furlough status?
- Thread starter James48843
- Start date
James48843
TSP Talk Royalty
- Reaction score
- 907
Just curious- I was furloughed- now i've been recalled
How about you?
(please keep it non-political. I'll just leave that up there.)
This is really starting to be painful. I've had to tap my savings to start paying bills. Not a happy place to be.
I see the Secret Service guys made a "I Worked without pay in the big one - 2018-2019" challenge coin.
That's pretty bold of them.
How about you?
(please keep it non-political. I'll just leave that up there.)
This is really starting to be painful. I've had to tap my savings to start paying bills. Not a happy place to be.
I see the Secret Service guys made a "I Worked without pay in the big one - 2018-2019" challenge coin.
That's pretty bold of them.
ravensfan
Market Veteran
- Reaction score
- 287
Not furloughed, retired, so I am not affected, but I have been there a number of times over the course of my career.
Food for thought: It is one thing to be furloughed and not receiving a paycheck and sure when the shutdown ends, you'll get paid. But what about your TSP? No pay = no money going into your TSP = no matching funds = another day of lost gains. Anyone think about that?
And finally, every evening I watch the news and see the endless parade of politicians pretending to be so compassionate towards federal employees and yet the bill to eliminate WEP (windfall elimination provision) has been sitting in committee for what, 3 years. The hypocrisy just never ends...
If there was ever a need for term limits for Congress, now is the time...
Food for thought: It is one thing to be furloughed and not receiving a paycheck and sure when the shutdown ends, you'll get paid. But what about your TSP? No pay = no money going into your TSP = no matching funds = another day of lost gains. Anyone think about that?
And finally, every evening I watch the news and see the endless parade of politicians pretending to be so compassionate towards federal employees and yet the bill to eliminate WEP (windfall elimination provision) has been sitting in committee for what, 3 years. The hypocrisy just never ends...
If there was ever a need for term limits for Congress, now is the time...
- Reaction score
- 821
I agree on term limits on Congress and the Supreme Court
- Reaction score
- 821
I'm in a different situation. Currently I am working for a contractor at NASA and we are furloughed, but they have paid us for the first four weeks hoping to get that money back from the government. Now we are not going to be paid until we go back to work, but since I am a retired federal employee I have my pension to rely on. I have friends at NASA both federal and contractor that are not getting paid and some of the contractors probably won't get back pay. This whole thing sucks.
James48843
TSP Talk Royalty
- Reaction score
- 907
wavecoder
TSP Pro
- Reaction score
- 24
wavecoder
TSP Pro
- Reaction score
- 24
Honestly this shutdown made me wonder if I should get that excited about trying to retire early. After a couple weeks I start missing work.
Intrepid_Timer
TSP Talk Royalty
- Reaction score
- 79
Wouldn't count it. How long have they been battling? I doubt 3 weeks is going to change anything, except give each side a chance to adjust their playbooks.
I retired at 62 and would have stayed at least till 67 if it were not for 3 years with no pay increases. I miss the work and the people a lot! Don't miss the BS such as government shut downs and political crap. If left alone to do the job might have stayed till 70. Retirement has a lot of good points but you definitely need a plan and something to do! Otherwise your SO will work you to death! LOL
James48843
TSP Talk Royalty
- Reaction score
- 907
Story this week about missed TSP deposits, from FEDWEEK:
TSP Contributions to Be Made Up, but Not Missed Earnings
Published: January 30, 2019
More in: Fedweek
The TSP has told agencies to “ensure that all employee contributions, agency contributions, and loan payments are made
for the period of pay missed during the shutdown” when they distribute back pay to employees who went unpaid during the
partial shutdown.
Agencies further are to designate the date the payments ordinarily would have been made, it said. The TSP needs that
information because if a payment is more than 30 days late—which would not apply in this case, since the first missed pay
distribution was around January 11—the agency would have to adjust it for what investors would have gained (or lost) by
having that money on investment for that time, given their investment allocations. The same would have applied to adding
interest to late loan repayments.
Further, “If your payroll system does not deduct loan payments from back pay, you will need to inform your employees to
submit their loan payments directly to the TSP” using a loan coupon, it said.
TSP Contributions to Be Made Up, but Not Missed Earnings
Published: January 30, 2019
More in: Fedweek
The TSP has told agencies to “ensure that all employee contributions, agency contributions, and loan payments are made
for the period of pay missed during the shutdown” when they distribute back pay to employees who went unpaid during the
partial shutdown.
Agencies further are to designate the date the payments ordinarily would have been made, it said. The TSP needs that
information because if a payment is more than 30 days late—which would not apply in this case, since the first missed pay
distribution was around January 11—the agency would have to adjust it for what investors would have gained (or lost) by
having that money on investment for that time, given their investment allocations. The same would have applied to adding
interest to late loan repayments.
Further, “If your payroll system does not deduct loan payments from back pay, you will need to inform your employees to
submit their loan payments directly to the TSP” using a loan coupon, it said.
More on the Thrift Savings Plan at ask.FEDweek.com
Viva_La_Migra
Market Veteran
- Reaction score
- 56
I saw legislation language that said employees would continue to be paid in the event of a future shutdown. If that stays in the final bill, it will make shutdowns even less meaningful than they already are. The politicians need someone to suffer, so they can get sympathy from the masses. If not federal workers, who will it be?
I've always been considered "essential," so I have never had the opportunity to get a paid vacation without taking leave. Sure, there was never a guarantee that there would be back pay, but that always seemed to happen historically. My luck, the first time I get furloughed will be the first time we won't get back pay!
