Is this an example of a cushy government job?

[Vette73]

Originally posted by: sohcrates

Originally posted by: NoMoMoney

i know now, other than my 401K, i get nothing from working for the government other than maybe social security\ when i retire.

Actually you should get a pension if you are a GS employee. It is 1% per year (versus 2% for the old system). At least that is the case for FERS employees (new system) versus CRSR(i forget the right acronym) employees. The old system does not receive or pay into social security and does not receive the 5% match for TSP.

you are correct. i am in FERS. i guess 1% is so little that i dont really count it as income!

but truth be told, maxing out 401K from my mid-20's through 55 will be a very nice amount of money. i know a lot of retirees on the old system, although being paid well, said they wished that had that "big" load of money saved. a lot of those old guys didnt start 401k's (obviously) until the late 80's and 90's

Yea but the CSRS people get money that will not stop until they die, if they worked long enough and meet the min. retirement age. Also CSRS can still put money into TSP, but without the match.

You would not believe how many people do not put in 5% to get the full 5% match that work for the Fed. I did some site visits and talked to a LOT of people and that was a big issue.

 

[NoMoMoney]

Originally posted by: Marlin1975
He could not get to a Grade 15 step 10 in 10 years unless someone was giving him WGI's left and right and that could come back to bite him if they were done illegally, i.e. HR would go back and start cutting something and he have to pay back.

Also he would be under the CSRS system, which means he does get that pension (all be it not 85%) but will not get social security as he did not pay into it.

I am thinking you really don?t know much about his job from what you posted as if he was a 15 he be a director or a very high up. What is his full name and I can tell you.

And if anybody thinks all gov jobs are easy, apply to passport or just about any other and see first hand.

<-- Works in Fed Gov.

I was going to say the same, and the fact that 85% he would of had to work for 45 years for the fed. OP also said 25 years which would be less than 50% with CSRS.

 

[dquan97]

at 2% system right now...at age 55, I'd have 35yrs service = 70% retirement income.