FY2020 Budget
Moderator: Aitrus
- Billionair
- Posts: 271
- Joined: Wed May 02, 2018 11:27 am
FY2020 Budget
Good Morning All,
Sourced for you from below,
FY2020 Raise Military: 3.1% Pay increase
FY2020 Raise Civlian: No federal pay raise, supplemented with pay on performance (I have no idea how that works).
FY2020-2025: Increase to employee pension by 1% each year through 2025, roughly 77$ a year increase. Reduction from the government side. This is a big negative from me.
Retirees: No COLA increase.
Soon to be Retirees: Proposed "final 5," years of service instead of "final 3," used for retirement calculations.
Healthcare: Lower government premiums, causing us to increase more. Not much emphasis on how
TSP Users: LOWER G Fund interest rate.
This won't pass a Red House, let alone a Blue one. Keep an eye out for budgetary issues come the end of the Fiscal Year.
https://www.washingtonpost.com/politics ... 4a43bfcda2
Sourced for you from below,
FY2020 Raise Military: 3.1% Pay increase
FY2020 Raise Civlian: No federal pay raise, supplemented with pay on performance (I have no idea how that works).
FY2020-2025: Increase to employee pension by 1% each year through 2025, roughly 77$ a year increase. Reduction from the government side. This is a big negative from me.
Retirees: No COLA increase.
Soon to be Retirees: Proposed "final 5," years of service instead of "final 3," used for retirement calculations.
Healthcare: Lower government premiums, causing us to increase more. Not much emphasis on how
TSP Users: LOWER G Fund interest rate.
This won't pass a Red House, let alone a Blue one. Keep an eye out for budgetary issues come the end of the Fiscal Year.
https://www.washingtonpost.com/politics ... 4a43bfcda2
-What we do in Life, echoes in Retirement-
Re: FY2020 Budget
I might be wrong, but weren't these contributions going to be 1% a year for folks who were contributing the lowest amount until it got to some threshold near 5 or 6% (or at least that's what iterations I heard of a year or two back, perhaps this one is different). If I'm not mistaken, new hires on the federal government already pay near 5% of their salary into FERS, whereas older folks pay as little as 1.5% (the numbers are back of the envelope estimates from prior reading). The goal was to get these older folks back up to the contributions of the new hires while new hires would see little increase in FERS deductions as they already contribute plenty.Billionair wrote:Good Morning All,
FY2020-2025: Increase to employee pension by 1% each year through 2025, roughly 77$ a year increase. Reduction from the government side. This is a big negative from me.
I follow a monthly seasonal strategy from gclapper (slightly modified). Its moves can be found by searching for strategy number #25727 on http://www.tspcalc.com
- Billionair
- Posts: 271
- Joined: Wed May 02, 2018 11:27 am
Re: FY2020 Budget
You are correct. The rate is actually 4.4% for a new FERS employee. That's the same I paid on the Hill, as I do now at DHS.
The pension plan want's us to contribute 6% over six fiscal years, with 1% going up from us, and 1% less from the government. This is a highly obscene amount of cuts, and probably the deal-killer for any budget. I can agree with no pay raises, healthcare stuff. I don't want to pay for a pension plan, that won't benefit me for 35 years.
Sources on the Hill confirmed to me that this plan is dead. But the G fund may very well be targeted for its huge load almost 250B of 500B in value/revenue. I also think the military could get a 1.5% raise and us get a 1.5% raise and everyone wins.
The pension plan want's us to contribute 6% over six fiscal years, with 1% going up from us, and 1% less from the government. This is a highly obscene amount of cuts, and probably the deal-killer for any budget. I can agree with no pay raises, healthcare stuff. I don't want to pay for a pension plan, that won't benefit me for 35 years.
Sources on the Hill confirmed to me that this plan is dead. But the G fund may very well be targeted for its huge load almost 250B of 500B in value/revenue. I also think the military could get a 1.5% raise and us get a 1.5% raise and everyone wins.
-What we do in Life, echoes in Retirement-
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Re: FY2020 Budget
Here are more facts about Trump's attack on federal employees. Hopefully some supporters see start to jump ship once they see the damage.
The National Active and Retired Federal Employees Association (NARFE) objected to the 2020 budget proposals, citing they amount to more than $177.1 billion in cuts to earned federal benefits.
In a statement Monday, NARFE outlined the proposals this way:
Eliminating cost-of-living adjustments (COLAs) for current and future Federal Employees Retirement System (FERS) retirees. Over a 30-year retirement, a typical FERS retiree – with a median annuity of roughly $1,000 per month – could lose nearly $250,000 due to this proposal.
Reducing COLAs for Civil Service Retirement System (CSRS) retirees by 0.5 percent each year from what the COLA would have been otherwise. When combined with the elimination of the FERS COLA, this would cost federal retirees $56 billion over 10 years, and much more thereafter. Over a 30-year retirement, a typical CSRS retiree – with a median annuity slightly above $3,000 per month – could lose nearly $170,000 due to the proposal.
Federal employees covered under FERS would see employee contributions to their annuities increased by 1 percent each year for the next six years, without any corresponding benefit increase. This will cost FERS employees $78.8 billion over the next 10 years, and more thereafter.
The earned and fully funded FERS Annuity Supplement would be eliminated for new retirees. This benefit, provided to FERS employees who retire before they are eligible to collect Social Security, would hit those with a mandatory retirement age – such as federal law enforcement officers and air traffic controllers – the hardest, costing federal retirees $18.6 billion over the next 10 years.
Reducing the rate of return on the Thrift Savings Plan’s Government Securities Investment (G) Fund. This would cost federal employees and retirees, as well as military personnel and veterans, $16.5 billion over the next 10 years.
Federal pensions for new retirees would be based on the average of the highest five years of salary instead of the highest three. This would cost federal retirees $7 billion over the next 10 years.
Reducing working and retirement-age benefits for federal workers disabled through their service, costing them $220 million over 10 years.
“President Trump’s budget breaks promises to both current and future retirees, reneges on commitments made to our nation’s public servants, and sends a very powerful message about the value this administration places on civil service,” said NARFE’s National President Ken Thomas.
The National Active and Retired Federal Employees Association (NARFE) objected to the 2020 budget proposals, citing they amount to more than $177.1 billion in cuts to earned federal benefits.
In a statement Monday, NARFE outlined the proposals this way:
Eliminating cost-of-living adjustments (COLAs) for current and future Federal Employees Retirement System (FERS) retirees. Over a 30-year retirement, a typical FERS retiree – with a median annuity of roughly $1,000 per month – could lose nearly $250,000 due to this proposal.
Reducing COLAs for Civil Service Retirement System (CSRS) retirees by 0.5 percent each year from what the COLA would have been otherwise. When combined with the elimination of the FERS COLA, this would cost federal retirees $56 billion over 10 years, and much more thereafter. Over a 30-year retirement, a typical CSRS retiree – with a median annuity slightly above $3,000 per month – could lose nearly $170,000 due to the proposal.
Federal employees covered under FERS would see employee contributions to their annuities increased by 1 percent each year for the next six years, without any corresponding benefit increase. This will cost FERS employees $78.8 billion over the next 10 years, and more thereafter.
The earned and fully funded FERS Annuity Supplement would be eliminated for new retirees. This benefit, provided to FERS employees who retire before they are eligible to collect Social Security, would hit those with a mandatory retirement age – such as federal law enforcement officers and air traffic controllers – the hardest, costing federal retirees $18.6 billion over the next 10 years.
Reducing the rate of return on the Thrift Savings Plan’s Government Securities Investment (G) Fund. This would cost federal employees and retirees, as well as military personnel and veterans, $16.5 billion over the next 10 years.
Federal pensions for new retirees would be based on the average of the highest five years of salary instead of the highest three. This would cost federal retirees $7 billion over the next 10 years.
Reducing working and retirement-age benefits for federal workers disabled through their service, costing them $220 million over 10 years.
“President Trump’s budget breaks promises to both current and future retirees, reneges on commitments made to our nation’s public servants, and sends a very powerful message about the value this administration places on civil service,” said NARFE’s National President Ken Thomas.
- Billionair
- Posts: 271
- Joined: Wed May 02, 2018 11:27 am
Re: FY2020 Budget
#1. Plagiarized what I said, automatic F on your paper.tspwizard1 wrote:Here are more facts about Trump's attack on federal employees. Hopefully some supporters see start to jump ship once they see the damage.
The National Active and Retired Federal Employees Association (NARFE) objected to the 2020 budget proposals, citing they amount to more than $177.1 billion in cuts to earned federal benefits.
In a statement Monday, NARFE outlined the proposals this way:
Eliminating cost-of-living adjustments (COLAs) for current and future Federal Employees Retirement System (FERS) retirees. Over a 30-year retirement, a typical FERS retiree – with a median annuity of roughly $1,000 per month – could lose nearly $250,000 due to this proposal.
Reducing COLAs for Civil Service Retirement System (CSRS) retirees by 0.5 percent each year from what the COLA would have been otherwise. When combined with the elimination of the FERS COLA, this would cost federal retirees $56 billion over 10 years, and much more thereafter. Over a 30-year retirement, a typical CSRS retiree – with a median annuity slightly above $3,000 per month – could lose nearly $170,000 due to the proposal.
Federal employees covered under FERS would see employee contributions to their annuities increased by 1 percent each year for the next six years, without any corresponding benefit increase. This will cost FERS employees $78.8 billion over the next 10 years, and more thereafter.
The earned and fully funded FERS Annuity Supplement would be eliminated for new retirees. This benefit, provided to FERS employees who retire before they are eligible to collect Social Security, would hit those with a mandatory retirement age – such as federal law enforcement officers and air traffic controllers – the hardest, costing federal retirees $18.6 billion over the next 10 years.
Reducing the rate of return on the Thrift Savings Plan’s Government Securities Investment (G) Fund. This would cost federal employees and retirees, as well as military personnel and veterans, $16.5 billion over the next 10 years.
Federal pensions for new retirees would be based on the average of the highest five years of salary instead of the highest three. This would cost federal retirees $7 billion over the next 10 years.
Reducing working and retirement-age benefits for federal workers disabled through their service, costing them $220 million over 10 years.
“President Trump’s budget breaks promises to both current and future retirees, reneges on commitments made to our nation’s public servants, and sends a very powerful message about the value this administration places on civil service,” said NARFE’s National President Ken Thomas.
#2. I spend every day Making America Great Again.
-What we do in Life, echoes in Retirement-
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- Posts: 311
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Re: FY2020 Budget
My God you are such an ass hat. I hope your boy Trump takes all your benefits away.Billionair wrote:#1. Plagiarized what I said, automatic F on your paper.tspwizard1 wrote:Here are more facts about Trump's attack on federal employees. Hopefully some supporters see start to jump ship once they see the damage.
The National Active and Retired Federal Employees Association (NARFE) objected to the 2020 budget proposals, citing they amount to more than $177.1 billion in cuts to earned federal benefits.
In a statement Monday, NARFE outlined the proposals this way:
Eliminating cost-of-living adjustments (COLAs) for current and future Federal Employees Retirement System (FERS) retirees. Over a 30-year retirement, a typical FERS retiree – with a median annuity of roughly $1,000 per month – could lose nearly $250,000 due to this proposal.
Reducing COLAs for Civil Service Retirement System (CSRS) retirees by 0.5 percent each year from what the COLA would have been otherwise. When combined with the elimination of the FERS COLA, this would cost federal retirees $56 billion over 10 years, and much more thereafter. Over a 30-year retirement, a typical CSRS retiree – with a median annuity slightly above $3,000 per month – could lose nearly $170,000 due to the proposal.
Federal employees covered under FERS would see employee contributions to their annuities increased by 1 percent each year for the next six years, without any corresponding benefit increase. This will cost FERS employees $78.8 billion over the next 10 years, and more thereafter.
The earned and fully funded FERS Annuity Supplement would be eliminated for new retirees. This benefit, provided to FERS employees who retire before they are eligible to collect Social Security, would hit those with a mandatory retirement age – such as federal law enforcement officers and air traffic controllers – the hardest, costing federal retirees $18.6 billion over the next 10 years.
Reducing the rate of return on the Thrift Savings Plan’s Government Securities Investment (G) Fund. This would cost federal employees and retirees, as well as military personnel and veterans, $16.5 billion over the next 10 years.
Federal pensions for new retirees would be based on the average of the highest five years of salary instead of the highest three. This would cost federal retirees $7 billion over the next 10 years.
Reducing working and retirement-age benefits for federal workers disabled through their service, costing them $220 million over 10 years.
“President Trump’s budget breaks promises to both current and future retirees, reneges on commitments made to our nation’s public servants, and sends a very powerful message about the value this administration places on civil service,” said NARFE’s National President Ken Thomas.
#2. I spend every day Making America Great Again.
Re: FY2020 Budget
Whoa, simmer down now. I think he was being sarcastic.tspwizard1 wrote:My God you are such an ass hat. I hope your boy Trump takes all your benefits away.#1. Plagiarized what I said, automatic F on your paper.
#2. I spend every day Making America Great Again.
OCTOBER: This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August, and February. - Pudd'nhead Wilson's Calendar
Re: FY2020 Budget
Keep it civil, guys.
Seasonal Musings 2022: viewtopic.php?f=14&t=19005
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus
Re: FY2020 Budget
This thread is a toxic waste dump. Begs to be removed. Not helpful to the point of this site at all.
"Get your money for nothin', and your chicks for free."
Following TSPCalc strategy #64902.
Following TSPCalc strategy #64902.
Re: FY2020 Budget
Why is tspwizard1 still a member here? I mean really? This user has been called out on thier crap over and over. Come on Mods, this is a no-brainer.Aitrus wrote:Keep it civil, guys.
Re: FY2020 Budget
Couldn't agree more.DanaBanks wrote:Why is tspwizard1 still a member here? I mean really? This user has been called out on thier crap over and over. Come on Mods, this is a no-brainer.Aitrus wrote:Keep it civil, guys.
Re: FY2020 Budget
----------------Vertigo wrote:Couldn't agree more.DanaBanks wrote:Why is tspwizard1 still a member here? I mean really? This user has been called out on thier crap over and over. Come on Mods, this is a no-brainer.Aitrus wrote:Keep it civil, guys.
Yea, me too. Wizard is a "Dick weed" as Alex Trebec would say. Best wishes Alex....
Re: FY2020 Budget
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.
- Billionair
- Posts: 271
- Joined: Wed May 02, 2018 11:27 am
Re: FY2020 Budget
"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."Ericdelee wrote: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.
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.
-What we do in Life, echoes in Retirement-
Re: FY2020 Budget
tspwizard1 knows he's on thin ice. The last warning has been given. We're keeping an eye on him.DanaBanks wrote:Why is tspwizard1 still a member here? I mean really? This user has been called out on thier crap over and over. Come on Mods, this is a no-brainer.Aitrus wrote:Keep it civil, guys.
Seasonal Musings 2022: viewtopic.php?f=14&t=19005
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus
Fund Prices2024-03-28
Fund | Price | Day | YTD |
G | $18.15 | 0.05% | 1.05% |
F | $19.08 | -0.06% | -0.74% |
C | $82.21 | 0.11% | 10.55% |
S | $82.43 | 0.30% | 6.92% |
I | $42.57 | -0.24% | 5.95% |
L2065 | $16.38 | 0.02% | 8.37% |
L2060 | $16.39 | 0.02% | 8.38% |
L2055 | $16.39 | 0.02% | 8.38% |
L2050 | $32.73 | 0.01% | 6.95% |
L2045 | $14.91 | 0.02% | 6.58% |
L2040 | $54.38 | 0.02% | 6.22% |
L2035 | $14.34 | 0.02% | 5.79% |
L2030 | $47.67 | 0.02% | 5.38% |
L2025 | $13.15 | 0.03% | 3.43% |
Linc | $25.61 | 0.03% | 2.82% |