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The Well-Mannered Politics Thread

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Lost_In_Translation said:
what I was saying is that most leave. That's still true by that metric. Even then, most of that 40% comes from the boomers to Gen X. That's about to change, and believe me, that's not a good thing. High turnover is only going to make the political climate worse. Ten years ago you'd be correct. There's a reason why a lot of "lifers" are leaving now, and sadly they are
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the lifers are leaving now, because they are retiring in many instances. Hence the boomers, especially the ones that were on CSRS. Civil Service Retirement Act, which changed in the 70s to the current program.
 
RavensMania said:
the lifers are leaving now, because they are retiring in many instances. Hence the boomers, especially the ones that were on CSRS. Civil Service Retirement Act, which changed in the 70s to the current program.
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Yup.

It's unfortunate too. Gen X is going to be the last one who follows this mantra. Cause Gen X isn't stupid like the Millenials and my generation are.
 
RavensMania said:
the lifers are leaving now, because they are retiring in many instances. Hence the boomers, especially the ones that were on CSRS. Civil Service Retirement Act, which changed in the 70s to the current program.
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I think that's one of my problems with my generation. No one in the millenials wants to play the long game, and because Gen Z is being raised by millenials.. Well. We're screwed.

The pay will be awful my first year, but if I sacrifice the start of my professional career for a good pension 44 years from now, that's worth it
 
Lost_In_Translation said:
Except for the fact that I'm not arguing with you. You do realize that I've acknowledged that you're correct. A federal pension is usually much better than whatever a business can give you from a pure percentage point. Even if they do offer a pension. Unless you are a partner in a partnership, they tend not to be worth it anyways. And I know a ROTH IRA is a better idea than a 401k. You yourself told me that two years ago. If you are smart about it though, you can still have a very very comfortable retirement with a career in the private sector.

I'm not arguing with you. Believe it or not I know that. The pension in the public sector is excellent. It's why I'm considering going in for my three years. Most cops that are there for 30+ years(though that's a hilariously small amount), get out at 55 for a reason despite barely making more than median household income on average.

A tortise beats the hare, but a giraffe runs at a 25 mph pace and can keep it up for 5 hours. I like that plan instead. It's good to have a good divide.

I get vested after 3-5 years, if I get paid six figures by some agency as an analyst, 10, get the pension, go to the private sector.

It's what a lot of government lawyers do. They get their loans forgiven after ten years, plus the pension, a damn near guaranteed $120,000 a year salary, move to the private sector in the corporate world. Make more money up front. Best of both worlds
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I'm wondering what you are thinking here. Fed pension(FERS which is what all are since 1986) get 1.1% of their high 3 x # of years in service. Eligibility is minimum 20 years unless you are over 60, then it's 5 years.

There's actually a Roth option in the TSP now which I agree makes total sense if you are at the beginning of your career.
 
Tank said:
I'm wondering what you are thinking here. Fed pension(FERS which is what all are since 1986) get 1.1% of their high 3 x # of years in service. Eligibility is minimum 20 years unless you are over 60, then it's 5 years.

There's actually a Roth option in the TSP now which I agree makes total sense if you are at the beginning of your career.
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The Leg branch I'm pretty sure gets you in after 3 years, same for certain other things. At least what I've been told. It might be different depending on the organization.

If I'm wrong, then I'm wrong. But even then, ten years in an organization like an intelligence agency likely get me six figure salary. Hard to justify leaving that if with that health care and prospect for a pension. But I'd have a lot to struggle with at first.
 
Lost_In_Translation said:
The Leg branch I'm pretty sure gets you in after 3 years, same for certain other things. At least what I've been told. It might be different depending on the organization.

If I'm wrong, then I'm wrong. But even then, ten years in an organization like an intelligence agency likely get me six figure salary. Hard to justify leaving that if with that health care and prospect for a pension. But I'd have a lot to struggle with at first.
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Could be something different for employees of elected officials, political appointees. Not sure.
 
Tank said:
Could be something different for employees of elected officials, political appointees. Not sure.
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Pretty sure it is. Because a Senate pension I am almost positive is vested after three years. Probably a lot different for other branches. But even then, Cops still get an excellent one for example.
 
Lost_In_Translation said:
Pretty sure it is. Because a Senate pension I am almost positive is vested after three years. Probably a lot different for other branches. But even then, Cops still get an excellent one for example.
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Yeah,, maybe the elected and/or appointed part of the Legislative branch. I have friends at the AOC and Senate Sargent at Arms and theirs is very similar to Executive branch FERS.
 
Tank said:
Yeah,, maybe the elected and/or appointed part of the Legislative branch. I have friends at the AOC and Senate Sargent at Arms and theirs is very similar to FERS.
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Fun fact. People in the Senate hate Ocasio-Cortez even if they're Democrats because of all the bad press that Architect of the Capitol has been getting because of hers.
 
Lost_In_Translation said:
I think that's one of my problems with my generation. No one in the millenials wants to play the long game, and because Gen Z is being raised by millenials.. Well. We're screwed.

The pay will be awful my first year, but if I sacrifice the start of my professional career for a good pension 44 years from now, that's worth it
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loyalty is a two-way street, you see a lot of moving by millennials because they're getting screwed on a consistent basis in any given career and in fact many careers are untenable and inaccessible at this point

and financially young people (and millennials arent even young really now) dont have the money to be able to stick it out because the cost of living vs entry level salaries is so high - they cant afford on a generic generational basis to play the long game
 
Tank said:
I'm wondering what you are thinking here. Fed pension(FERS which is what all are since 1986) get 1.1% of their high 3 x # of years in service. Eligibility is minimum 20 years unless you are over 60, then it's 5 years.

There's actually a Roth option in the TSP now which I agree makes total sense if you are at the beginning of your career.
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Absolutely should take the Roth option.

He is only thinking the 3 yr Vesting. Can't get any pension at 3 yrs. Not sure about Senate branch though
 
Tank said:
FERS started 1986
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yes that is correct. my mistake

Technically referred to as Federal Employee Health Benefits. I also refer to it as FERS like you have. I only typed it out for others who would like to know what it is. I'm assuming you know already.
 
Lost_In_Translation said:
Most people don't understand that the executive branch alone employs around 4 million people. It's massive and goes beyond the President.

My point still stands
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btw, the 4m includes members of the armed forces.

I'm really just talking about people who live in the DMV. I do agree Millenials and Gen Z aren't sticking around that long anymore. All they care about is money and the here and now.
 
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Lost_In_Translation said:
what I was saying is that most leave. That's still true by that metric. Even then, most of that 40% comes from the boomers to Gen X. That's about to change, and believe me, that's not a good thing. High turnover is only going to make the political climate worse. Ten years ago you'd be correct. There's a reason why a lot of "lifers" are leaving now, and sadly they are
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not only that, there has been talk about changing the pension again, but there really hasn't been any traction on this yet. I do believe in the end it will change, but it employees are grandfathered in. I have some friends that were there when they changed it the last time and the government offered them the chance to change to the new plan (FEHB), which would allow them to collect Social Security. Anyone who changed lost out, because CSRS is better than FEHB, much better.
 
RavensMania said:
not only that, there has been talk about changing the pension again, but there really hasn't been any traction on this yet. I do believe in the end it will change, but it employees are grandfathered in. I have some friends that were there when they changed it the last time and the government offered them the chance to change to the new plan (FEHB), which would allow them to collect Social Security. Anyone who changed lost out, because CSRS is better than FEHB, much better.
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just a quick correction. FEHB is health insurance. FERS(Federal Employee Retirement System) is the retirement plan that replaced CSRS and is a 3 part system....pension, TSP(401K) AND SS. Because of the matching TSP funding, depending on how your friends invested their TSP $ it could be better for them than CSRS. CSRS was a sweet deal though because it was guaranteed.
 
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