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Federal Employees News Digest : March 4, 2013
for our government partners, our ven- dors, and the American people." Learn more: http://expo.gsa.gov/ Feds air furlough fears on message board The Federal Workers Alliance---a coalition of 20 federal employee unions---launched an online message board, on which feds have been discussing just how sequestration fur- loughs would impact their lives. "I dare you to read their stories and tell me that what's happening to these people is okay," FWA Chairman and National Federation of Federal Employees President William R. Dougan said. "These aren't just 'faceless bureaucrats in Washington, D.C.' These are single mothers, widows, and couples nearing retirement who are frightened that 20 percent or more of their pay will disappear overnight. After more than two years of frozen pay these people were already on the edge; sequestration furloughs will be the final shove over." Hundreds of employee's stories on the site by press time attest to the trouble coming down the line for so many thou- sands of federal employees. For example, one employee writes: "My monthly salary reduction under furlough will exactly equal my largest monthly expense, my mortgage. I am a single parent (widowed), raising two middle school-aged children alone. I will likely have to sell my house to make it work with a reduced salary. Like most federal workers, we live month to month in a city with high cost of living. I will still be expected to get the same job done in less time for less pay." Another says: "I have three children, a mortgage, a car payment, several credit card bills, my elderly father lives with me as well. I am already struggling to survive each month. If I lose 20 percent of my income I'm sure that I will have to sell my car and not pay my credit card bills...I am an upstanding citizen of these United States. I pay my taxes and my bills. I volunteer for many community activities. I understand that something must change, what I do not understand is why my family must suffer, or why everything I have worked so hard for in life must hang in jeopardy." Read more: http://www.quicktopic. com/50/H/6F5wDrDVdjY March 4, 2013 Vol. 62, No. 31 8 Visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FUNDS FEb. 25 oNE MoNTh aGo oNE YEar aGo G Fund F Fund C Fund S Fund I Fund lifecycle Funds L Income L 2020 L 2030 L 2040 L 2050 Register free to get rates of return and other TSP info at: www.FederalDaily.com/pages/resources/thrift-savings-plan.aspx 14.0557 14.0366 13.8508 15.9906 15.9347 15.4592 18.8693 18.8693 16.9246 25.7887 26.1239 23.2269 21.3578 21.7631 19.7068 15.8793 15.8954 15.3356 19.2174 19.3242 18.0069 20.0827 20.2307 18.5526 20.8149 20.9963 19.1162 11.5513 11.6691 10.5311 Federal Benefits Q&A Question: "If I am eligible to retire under FERS on May 20, 2014, with 10 years of continuous service, and an 80 hours of unused sick leave balance, what will happen to the 80 hours of SL balance? I understand that 100 percent of the 80 hours will be added to my service years for my annuity calculation purpose. But, will I also get paid (either in a lump sum or through other means) for the unused 80 hours sick leave?" answer: If you retire on May 20, 2014, with 10 years of FERS service and with 80 hours of unused sick leave, then all of the 80 hours of unused sick leave will be added to your service time for the sole purpose of calculating your FERS annuity. You will not get paid in a lump-sum payment for your unused sick leave hours. But you will get paid in a lump-sum payment for all of your unused annual leave hours at the time of your retirement. Readers are encouraged to ask questions related to general employee benefits---such as CSRS, FERS, the Thrift Savings Plan, tax and estate planning, insurance, Social Security and Medicare---at the "Federal Benefits Q&A" at www.FederalSoup.com. continued from page 3
Feb. 25, 2013
March 11, 2013