FY2020 Budget

[Ericdelee]

What is the verbiage on the soon to be retirees going from High Three to High Five? I’d like to think there would be a grandfather clause for those already in.

"Also under the proposal, for employees retiring after an unspecified date, annuity benefits would be based on the highest five consecutive salary years rather than the currently used “high-3.” Further, it would end a supplemental benefit paid to many employees who retire before age 62, when they become eligible for Social Security."

Called over to some folks on the Hill, the verbiage, "IF PASSED," would be clear for government folks over 5 years to be grandfathered, but they said that won't happen because this budget is going nowhere. However for us, the G fund is still going to be targeted by the Administration + no federal pay raise.

Ok. This makes sense. To me, I figured there’s no way they’d NOT grandfather old peeps in. This is NOT a deal I could get behind.

The G fund being targeted: it makes sense but still sucks. No federal pay raise; what does that entail?

Sorry for the multiple questions

[rcozby]

Billionaire: In this same thread you have written about high 3/high 5 and final 3/final 5. These are not the same for everyone, e.g. temporary promotions and downgrades can make an earlier average higher than a final average. Any idea which is truth? Thanks!

[Billionair]

@Eric
G fund being targeted, is usually a scapegoat for finding revenue, but Congress is uneasy about letting that go into action. You need 2/3 majority for that. As for the pay Raise, that's up to the Executive side, aka President Trump. I heard his quarrel with upper management SES/GS15 democrats, is that it is a swipe at them. However, Congress can include pay raises into budgets.
@Rcozby
I believe this is the first time I have wrote about this. Retirement has always been the "final high 3," and the proposed budget in 2020, moves this to final 5. This will need 2/3 in Both House and Senate, which is 100% unlikely to pass. The President is unhappy with "automatic step increases," and wants more "performance measured salary."
As for temporary promotion/downgrades, if they add to your salary before retirement that would still be a high year, because it was more than previous grades. OPM states "highest value, usually the last three years, but could be earlier."
I know a couple GS-12's step 10's who sit at OT all day. They turned down GS13/14, due to making almost 30K in overtime, putting them way over the threshold without SISO responsibility. But the base salary at that rate would be higher than a GS13 step 1.

[ArrieS]

They turned down GS13/14, due to making almost 30K in overtime, putting them way over the threshold without SISO responsibility. But the base salary at that rate would be higher than a GS13 step 1.

I wish OT and other types of pay were factored into your pension calculation.

[Billionair]

They turned down GS13/14, due to making almost 30K in overtime, putting them way over the threshold without SISO responsibility. But the base salary at that rate would be higher than a GS13 step 1.

I wish OT and other types of pay were factored into your pension calculation.

I agree, it is available and "overtime," but I know the Bureau of Prisons does have it accumulated into retirement. I also remind people that "high three," doesn't include locality, only base pay x 1.0 or 1.1 x years of service. Someone told me that they thought their pension was over 130K until he realized 0.011 was his actual retirement (1.1% for military years) and without locality.

The gov doesn't teach people this though, and Congress is the first thing they look at + our TSP and G fund/pensions as part of FY budget caps >:(.

[bop]

Respectfully, I believe locality pay is included in the High-3 calculation.

Overtime is not included, with the exception of administratively uncontrollable OT for certain law enforcement officers.

Here's a link to a better description of what is and is not included:

https://www.fedweek.com/retirement-fina ... -high-3-2/

[Aitrus]

They turned down GS13/14, due to making almost 30K in overtime, putting them way over the threshold without SISO responsibility. But the base salary at that rate would be higher than a GS13 step 1.

I wish OT and other types of pay were factored into your pension calculation.

Hell, I just wish I could get OT approval.

[ArrieS]

They turned down GS13/14, due to making almost 30K in overtime, putting them way over the threshold without SISO responsibility. But the base salary at that rate would be higher than a GS13 step 1.

I wish OT and other types of pay were factored into your pension calculation.

Hell, I just wish I could get OT approval.

Go to Afghanistan, you'll get all the OT you can stand.

[Billionair]

I did 3 tours. 09 invasion of Marjah, 11 invasion of sangin and 13.

Was in the G fund the whole time. I was too young to know what to do.

[wsureshoot]

RE: "Retirement has always been the "final high 3,""
opm.gov...

Your “high-3” average pay is the highest average basic pay you earned during any 3 consecutive years of service. These three years are usually your final three years of service, but can be an earlier period,...

[evilanne]

Research on regulations indicate that most of the proposal are unlikely. The only one that is likely to pass is the 5 year option, If you look at the difference there is not that much of a difference between 3 & 5 years for most people