TSP as a model for other 401(k)s ?

[Westernskies]

You can't have it both ways.

Finally, something we can agree on.

 

[clifp]

Worst case, a dam fails, kills a couple thousand people and you get transferred to a different division. Then the subsequent investigation by your agency squarely places blame on anyone but your agency. Maybe point some fingers at private consultants. Maybe blame "procedural hurdles and difficulty in interagency communications and coordination". Form a task force and a blue ribbon committee to study the issue. Maybe hire a management consultant to put together a nice bound report on how to avoid the problem in the future. Then stick that dust collector on the bookshelf and get back to business as usual. Call me a cynic...

Case in point the folks at the MMS in charge of regulating the oil business, the political appointee loses her job, cause with screw up this big somebody has to get a fired. But what about middle managers and professional that work there any of them lose the job? Now BP deserves the lions share of the blame, but not only will (I assume) a fair number of those involved lose their jobs but 11 died and many were injured as a grim reminder of why it is stupid to cut corners on safety, Senior manager who have a lot of their wealth and bonus related to earning have seen the stock drop from $60 to $45.

Another example the SEC employees lots of lawyer and MBAs, who presumably could get more money working in the private enterprise. However the private sector employees would almost certainly get fired if they failed in their jobs as badly as did every SEC employee who was informed about the problems with Bernie Madoff.

There are plenty of example in the private sector where employees (especially execs) screw up and still keep their job, but in general if you screw up bad in private sector (and even sometimes if they just need a scape goat) you are canned or demoted. The just doesn't happen with career civil servants.

So when we are comparing private sector and public sector jobs it is important to add job security as a significant benefit. Actually to be fair the military does seem to demand accountability so when a ship runs aground or has a collision the Captain lose his command and his career.

 

[Bimmerbill]

Job security is one of the things I like best about my federal job. The 40 hour work week is the other. I have a smaller emergency fund because I am not worried about getting laid off or fired without cause.

I still think I could make more $ in the private sector. I work in IT and the jobs still pay pretty well, as I am in the "Boston" locality. But I know I'd have much more stress, work longer hours, and wouldn't have a pension.

I probably could at least get some training in the private sector (gov't is broke, no training money for 4th year running here). And I probably could learn stuff and work on some new technology. Probably get a real bonus too. (not that my $433 after taxes didn't float my boat...).