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Old 02-18-2009, 06:12 AM   #21
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Originally Posted by rec7 View Post
Short for million .
I thought MM was. 1,000 X 1,000 = 1,000,000. M=1,000.
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Old 02-18-2009, 06:23 AM   #22
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Originally Posted by rec7 View Post
Short for million .
You obviously missed the sarcasm.
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Old 02-18-2009, 06:25 AM   #23
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You obviously missed the sarcasm.
Nope, just be a early morning cynic.
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Old 02-18-2009, 07:01 AM   #24
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High-5 computations and NSPS could be a killer... I expect my earnings to be eroded by NSPS in the 14-18 years I have left to work.
I'll be eligible in April this year - don't know how long I'll stay past that (was planning on Dec, but now?...?)

However, after reading all the NSPS horror stories on Federal Soup & elsewhere, if they put our agency under that I'd assuredly pull the plug.

NSPS has the effect (?intended/unintended?) of slowly dragging the entire pay scale down overall - not to mention killing morale & fostering cronyism, nepotism, etc.

(Note: Hi-5 has been mentioned as an option in some past studies of federal compensation)
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Old 02-18-2009, 08:00 AM   #25
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History shows that changes in SS or military retirement, have never been fully implemented on a generation expecting certain benefits. There has always been grandfathering, with incremental changes, spread over several generations.

The most draconian of the republican private SS plans, still grandfathered everyone over 55.

With all this TARP, bail-outs, stimulus, etc. It would take some pretty big balls to shut off all SS and federal pensions.
+1. I think the likelihood of substantive changes to current retirees is small. Changes will be phased in and have the most effect on prospective retirees. I also doubt that the changes will be drastic (or at least not in the negative direction). The public has always viewed SS as an essential safety net (thus the wailing and gnashing of teeth over privatization proposals). If anything, the voters will want that tiny little be of security shored up, not cut out.
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Old 02-18-2009, 08:31 AM   #26
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[quote=Texarkandy;785264]
However, after reading all the NSPS horror stories on Federal Soup & elsewhere, if they put our agency under that I'd assuredly pull the plug.

NSPS has the effect (?intended/unintended?) of slowly dragging the entire pay scale down overall - not to mention killing morale & fostering cronyism, nepotism, etc.
[quote]

My first year in NSPS and I am about even (+$200/yr so far) with where I would have been under the GS system. But I got a really high rating. Don't expect to get that high of a rating every year.

Plus, my command splits the raise between salary and bonus. The system is designed to slow salary increases and save the gov't money.
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Old 02-18-2009, 10:24 AM   #27
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I have two federal gov pensions. Mil and SS. For me those two pensions represent just about all of ours, and I suspect others benefit from SS.

So, what type of financial disaster would have to take place to put this type of retirement situation in jeopardy. Now I know you could say the gov could cancel these pensions, but the probability of this is extremely low, so if you choose to discuss this how about some idea of how likely you thing your scenario is likely.

Hyper inflation with the governments once a year catch up may be one. However, I think if this were to happen gov might step in with some sort of leveling device. However, I think it would still be after the fact and some standard of living would be lost.
Since SS has its own revenue from the payroll tax, I don't see it going to zero (barring a complete collapse of our government or economic system). However, the actuaries estimate is that the payroll tax can only support about 78% of currently scheduled benefits 30 years from now.

Like others, I think we'll see reductions via COLA adjustments or means testing, but if taxes aren't raised there will have do be direct reductions as well. This is one example of a way to balance SS through benefit reductions alone: http://www.ssa.gov/OACT/solvency/RBennett_20060316.pdf

Note that the 78% is really a change in the "replacement ratio". If real wages grow by 30% over the next 30 years, the actual purchasing power of the benefit wouldn't change at all.
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