2024 Raise?
Moderator: Aitrus
2024 Raise?
Just reviewed my January 24 summary of benefits. Got a raise, Yahoo! But wait, they reduced my Federal withholding. This makes it look like a larger raise that it really is. And FEHB rates will go up in February. So did I really get a raise?
Now I have to amend my withholding. Why do they do this?
Now I have to amend my withholding. Why do they do this?
Re: 2024 Raise?
Where did you find this information ?
What % was the raise?
“The genius of investing is recognizing the direction of the trend – not catching the highs or the lows.”
- Dean Witter
"Put all your eggs in one basket and then watch that basket."
- Andrew Carnegie
- Dean Witter
"Put all your eggs in one basket and then watch that basket."
- Andrew Carnegie
- Scarfinger
- Posts: 811
- Joined: Mon Jan 30, 2012 12:00 am
Re: 2024 Raise?
“ As first proposed in his fiscal 2024 budget plan last March, the increase amounts to a 4.7% across-the-board boost to basic pay, alongside an average 0.5% increase in locality pay. As authorized in the fiscal 2024 National Defense Authorization Act, which Biden is expected to sign this week, military service personnel also will see an average 5.2% pay raise next year.”
I am just an average Joe. I have no clue to what the market will do.
Paul Merriman 2 fund strat: (age - 25) x2.5 = TDF + balance into S fund or variation ofTimboSlice wrote: "People really need to stop overthinking this."
Re: 2024 Raise?
https://www.govexec.com/pay-benefits/20 ... s_alert_nl
An average 5.2% pay increase marks the largest authorized for federal workers since the Carter administration adopted a 9.1% average raise in 1980, as well as a 0.6% increase over last year’s raise, which itself marked a 20-year high.
An average 5.2% pay increase marks the largest authorized for federal workers since the Carter administration adopted a 9.1% average raise in 1980, as well as a 0.6% increase over last year’s raise, which itself marked a 20-year high.
Re: 2024 Raise?
Where did you find this information ?
What % was the raise?
[/quote]
OPM online services. I am already retired if that wasn't clear.
Gross it is a 2.18 percent raise. Net it is a 2.9 percent raise but that is misleading because of the reduction in withholding. I really dislike that they adjust my Federal withholding without asking. Now I have to go back and adjust it again.
What % was the raise?
[/quote]
OPM online services. I am already retired if that wasn't clear.
Gross it is a 2.18 percent raise. Net it is a 2.9 percent raise but that is misleading because of the reduction in withholding. I really dislike that they adjust my Federal withholding without asking. Now I have to go back and adjust it again.
Re: 2024 Raise?
While I'm here, it's time for my annual reminder.
Make sure you know who your TSP designated beneficiaries are.
Make sure you know who your TSP designated beneficiaries are.
- Scarfinger
- Posts: 811
- Joined: Mon Jan 30, 2012 12:00 am
Re: 2024 Raise?
New pay scales are out for 2024, for current employees. Looks like I am getting a 4.99% raise.
PDF for my locality:
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.opm.gov/policy-data-oversig ... 24/RUS.pdf
PDF for my locality:
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.opm.gov/policy-data-oversig ... 24/RUS.pdf
I am just an average Joe. I have no clue to what the market will do.
Paul Merriman 2 fund strat: (age - 25) x2.5 = TDF + balance into S fund or variation ofTimboSlice wrote: "People really need to stop overthinking this."
Re: 2024 Raise?
We just got approved for locality pay to go with our raise. For us, it works out to almost a 12% total raise. We have been applying for locality pay since well before I started.. The kicker is I retire just after my new high 3, which is perfect timing!
Fund Prices2024-05-10
Fund | Price | Day | YTD |
G | $18.24 | 0.01% | 1.54% |
F | $18.86 | -0.22% | -1.88% |
C | $81.82 | 0.18% | 10.02% |
S | $80.25 | -0.32% | 4.10% |
I | $42.79 | 0.31% | 6.48% |
L2065 | $16.31 | 0.16% | 7.91% |
L2060 | $16.32 | 0.16% | 7.91% |
L2055 | $16.32 | 0.16% | 7.92% |
L2050 | $32.61 | 0.12% | 6.56% |
L2045 | $14.86 | 0.11% | 6.24% |
L2040 | $54.24 | 0.10% | 5.94% |
L2035 | $14.31 | 0.09% | 5.58% |
L2030 | $47.61 | 0.09% | 5.24% |
L2025 | $13.16 | 0.05% | 3.55% |
Linc | $25.66 | 0.04% | 3.01% |