Government Pensions and FIRE

I feel myself getting caught up in this confessional disclosure frenzy.

All my life I dreamt of obtaining a government job.    To that end, at various times I was employed by the Departments of Defense, Transportation, Labor, and Treasury.  I lurched through the entire GS scale with the exception of the first two, finally finding equilibrium down one to nurture my inner INTP and lessen social bloviating requirements.  The journey had high points and lowpoints, although the lowpoints are my personal favorites.  Want embarrassment?  Hit the silent alarm as a Customs Inspector when a gentleman who later ended up being a Vice-President of South Korea (they evidently have many) triggered a hit on the NCIC computer.  Boy was he surprised (along with everyone in line) when two plain-clothed and two state troopers pulled their weapons!  Use your diplomatic passport next time, bucko.  And how was I to know that everyone in the country was named "Kim."  Other bumps included briefly being taken hostage by a deranged client with an improvised bomb on the 37th floor of the Minscoff building in Times Square.  The Daily News had their own take on the incident (noted more for the traffic tie-ups than any lasting damage), "and dozens of New York's finest stood ready to douse the human fireball should he pull the trigger..."  This did result in a minor kerfuffle when I evidently violated several provisions of the Federal Privacy Act--hey, I was only 24--by speaking to reporters.  Hey, someone sticks a mike in your face, whaddya gonna do?  This did result in an accelerated transfer to my beloved city, prompting some of the cynical oldsters to wonder if I had somehow orchestrated it.  I am not that smart, but didn't dissuade the speculation.

In the late 80's I wormed my why tangentally (well, my voice did) into a lead story on the three networks.  Things quieted down, rode a desk for years, did a few details to Washington to bump the grade level, briefly bounced around aerodromes in a really really cool looking plane.  9/11 occurred, along with the resulting frenzy and coincidental reorganizations.  I maneuvered myself into an oversight job for a job function that I suspected would be contracted out. No doubt somehow diabolically contrived by haha.  Basically for the last year I was just mailing it in, devoting my energies toward torturing non pension types on earlyretirement.org.  I was offered a coveted Early Retirement, fretted, dithered, vexed, but finally jumped at age 47 with a respectable, but still shy of 50K, pension.

This all goes to show you, if you aspire to be counted among la creme de la mediocre, you too can fulfill your every dream.
 
Buzzard--I agree about the private in Iraq. He doesn't have a union either. :D If you think the large city agency was over paid, think about what would happen if they decided to not show up. Some people would be ok the rest so sorry. Believe it or not at one time I was very anti-union, until I worked for an agency where the boss was out to cut as many benefits as possible. This same person was notorious for cronisim. That lasted until the union members started filing grieviences and winning them.

I agree with the future taxpayers not paying for the current employees. The only way to stop this though is to cut non-essential spending. The non-essential spending can be found in the Constitution. What is madated in that document is essential, everything else is non-essential.
 
Well, over a beer or two the Irish in me is only too happy to dig out a war story.  (The secret of the Irish, replace all memory haze with embelleshment.) And if I snap my neck around quickly enough, I can even catch the eyes rolling.  However, the googlefied internet gives me pause, and a rare moment of restraint. 

Suffice to say, my bit role had a handful of lines, the money quote being a stammered "He did WHAT?!?!..."

Martha said:
More about the late 80s "incident?"
 
Hi,

I'm new to the boards, but I am a federal employee so thought I'd add my story as sort of an introduction. I am part of FERS, so will get a pension, I do pay SS taxes, and I contribute to TSP (the gov't 401(K)) plan. My original goal was to retire at 57 (minimum required age for me is 56 years, 10 months), but now I am working toward retiring at 52 with a deferred retirement. So, I need 5 years of income before the pension kicks in, and 10 years before SS kicks in (assuming I don't get early SS).

Since it is a possibility that I will move and go private sector (due to family situation), there is a chance my pension will be a lot less than what it would be if I stayed with the gov't for the next 15 years (I am 37). I guess for me, I don't want to calculate/rely on a huge pension benefit since it is unsure if I'll stay in the gov't until I retire. So, for my calculations, I use today's benefit amount instead of a future-expected amount. If I do end up staying, I'll be better off.

I'd rather be cautious in the calculations, but I do recognize that the pension is a big help. On the flip side, with no bonuses, stock options, or other perks, I can't talk about retiring at 40 or 45, like some others want to do. But, I'm not complaining. :)

Karen
 
They are offering the early out where I work and I sent for my retirement package yesterday. It appears that my retirement date will be 09/01/06! I will have 33 years and 11 months counting my sick leave. I can't wait!

Dreamer
 
Dreamer said:
They are offering the early out where I work and I sent for my retirement package yesterday. It appears that my retirement date will be 09/01/06! I will have 33 years and 11 months counting my sick leave. I can't wait!

Dreamer

Congratulations! I'm surprised you didn't sign off with a half-dozen :D's.
 
FERS vs CSRS...

Back in the day, (CSRS) pensioners did, in fact, have a large chunk of their high three come back to them as an annuity.  OTOH, we NewAge (FERS) guys are rewarded with a three tier system that includes full SS (as we have paid into it fully), TSP (with up to a 5% match), and the 'basic' annuity, 1%/yr.  So my gonna' be 30 years at the arguabley average WG 12/5 $34/hr high 3 will gross me 21K.  Being a Reserve technician, however, I can go out early (gonna be 54). 

This ammount represents more than beer money, and is PART of many legs that my ER will depend on.

I promise full disclosure in any future posts...

dc
 
I guess I don't understand the animosity against federal pensions. When I took my job with the federal government, part of my contract was the ability to participate in the CSRS pension program. I contributed to it and the TSP to do what these boards suggest you do...maximize your accumulations. I agreed to take a 70 percent reduction in my social security, even though I was fully qualified for the program through contributions made from jobs I have held since I was 14. The same reductions apply to any employment I elect to enter into after retirement from my government posiition. As someone correctly pointed out in this thread, my salary and my cost of living pale in comparison to my legal counterparts in the private sector and I never saw a stock option, a Christmas bonus, a patnership split or anything of that nature. And, I never complained. Now, that I plan to take my pension, I am supposed to feel guilty? Why? How are federal workers who pay the same taxes as other "taxpayers" somehow a burden on society? If Congress hasn't fully funded (whatever that means) the government pension program, hold them accountable, not me. I'm just finally reaping the one significant benefit of the contract I made with the public for the past 27 years. Is it a five iron or a six iron from here>

setab
 
Yep

And any pension with a decent cola that would allow one to have a 'core budget.'

Thus allowing male hormones freer rein during youth (early ER) to putz with stocks, travel, golf, surfing - er ah:confused:

Was that a question?

heh heh heh heh heh heh - I could be really dangerous with a cola'd pension.
 
Not animosity - just jealous that we do have one.

I would go further and say that the politicians are getting people comfortable with the idea of government employees as scapegoats. I dont know how you guys can stay at those jobs for 30 years :p
 
Maddy,

I'm getting out at 27 years, and I agree with your statement(s). There was a time when I actually felt I was contributing something, but the bureacracy has a way of dealing with that kind of feeling.

setab
 
setab said:
I guess I don't understand the animosity against federal pensions.
It's not the pension by itself-- it's the pension's COLA plus lifetime healthcare earned despite decades of inefficient bureaucratic substandard socialized service while being subsidized by the tax dollars of the hard-working overtaxed wage earners who are just trying to make a living despite having to support the govt loafers and their burdensome unfunded mandates.

I also spent over two decades sucking down my share of those taxpayer dollars and getting many free worldwide fact-finding junkets without ever once firing a nuclear ballistic missile or a warshot.

You would think that the civil-service & military recruiting offices would be overwhelmed with eager candidates.
 
Nords,

Now you're talking politics, not employees, who, as I pointed out, also pay their share of taxes. My experience has shown that most of us are more than willing to put in a day's work for a day's pay, but we are as frustrated by the inefficiency of the bureaucrats as others are. I have not worked inside the belt way, where, I have to admit, the mind set appears to be slightly different, but those of us who have worked "out in the field," try to do our part. My feeling is that form counts for much more than substance these days, but I'm not certain that's unique to the government.

setab
 
setab said:
Nords,

Now you're talking politics, not employees, who, as I pointed out, also pay their share of taxes.
Hey, whoa, put down the gun, I'm on your side.

But you asked about animosity toward federal pensions, and that's the thinking behind the answer.

I'm proud of finishing over two decades of military service without ever being stationed inside the Beltway either. I visited, but I tried not to inhale.
 
I'm proud of finishing over two decades of military service without ever being stationed inside the Beltway either. I visited, but I tried not to inhale.

:LOL: :LOL:

I didn't mean it to sound that way. Sorry. Now that I'm almost a single digit midget, I'm getting soooo sensitive.

setab
 
I think the public perception about gov pensions is a direct result of the people they've had to deal with. I know we've all met them sitting behind a counter, just counting the days till they can retire while taking out their frustrations on the poor person that happned to show up and ask a simple question or need a problem solved.

Military pensions are something different, I don't know of anyone that would say they that they weren't deserved or well earned.
 
Outtahere said:
I think the public perception about gov pensions is a direct result of the people they've had to deal with. I know we've all met them sitting behind a counter, just counting the days till they can retire while taking out their frustrations on the poor person that happned to show up and ask a simple question or need a problem solved.

Anyone remember the biting, short-lived FedEX commercial of many years back poking fun at the postal service? For those of you who don't, two postal ("gummint") employees are sitting behind a customer service window at a post office, discussing when they can retire. One is holding a fly swatter.

As a patron walks up for service, the postal worker behind the window continues to talk to his co-worker, swats at a fly, then turns and slams down the window on the customer, saying "Next window please."

The postal union went ballistic and FedEx pulled the commercial after a few days. But the message the commerical was communicating about government workers certainly resonated with the general public, and not only with regard to the postal service.

(Yes, I know the USPS is no longer an official government agency, but I'm not sure that's widely recognized by John & Mary Q. Public.)
 
YES! I remember that ad very well and remember thinking boy they've got that right!!! I didn't know they pulled the ad.
 
Wahoo,

Most stereotypes have some basis in reality, but it is exactly that kind of image that makes me see red.  I find that a lot of the people who are willing to fostor that type of a stereotype about federal workers are the same PC micro brains who insist on gender neutral terms such as "personhood" and other similar sillinesses.  Seems inconsistent to me.  You will find thoughtless people and just plain bad employees in every sector.  I have met and worked with some truly fascinating gummit employees during the past 26 plus years and sum uv em have even been real smart.  Of course, there have been the anal orifices too.

setab
 
setab said:
Wahoo,

...You will find thoughtless people and just plain bad employees in every sector. I have met and worked with some truly fascinating gummit employees during the past 26 plus years and sum uv em have even been real smart. Of course, there have been the anal orifices too.

setab

No arguement here.

I think one key factor in the image problem govt. workers have with the general public is the tendancy of human beans to remember their bad experiences much longer and more vididly than the good ones.

It takes a lot of "attaboys" to erase just one "aww sh*t". ;)
 
There is also the perception out there that they can't be fired so they have no incentive to do a good job.
 
And that perception is wrong. I have represented the government in a lot of hearings that resulted in the termination of employees. However, I agree, that is the public perception. Interestingly enough, some of my private sector counterparts tell me it is harder in the private sector to get rid of someone. Also, there tend to be a lot of "buyouts" to settle private sector dismissals. You don't see those as much in the government workforce and you sure don't see big bucks, even when you do see them.

setab
 
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