Salary / Benefits Guide

Federal Pay Calendars for Fiscal Year 08 and 09

2007-12-22T15:15:00Z

Do you want to know when you're going to get paid? Well Oh My Gov.com has the calendar(s) for you...

Check out the pay calendar for fiscal year (FY) 2008.pdf and for those forward thinkers the (FY) 2009.pdf pay calender too. Each calendar has all those important federal holidays, pay periods and most importantly your payroll date.

Happy New Pay Year(s)!

Tax Year 2008 - Maximize Your Thrift Savings Plan (TSP) Account

2007-12-04T23:17:00Z

Tax Year 2008 will begin on December 23, 2007 (in pay period 26) and will end on December 20, 2008 (pay period 25). Plan to use Employee Express (EEX) during the week of December 10 - 14, 2007, to make changes to the amount of your TSP contribution for the coming tax year. (You can make changes later during the same pay period, but it’s recommended that you access EEX the first week of the pay period.)

For Tax Year 2008 the IRS elective deferral limit will be $15,500. If you’re a CSRS or FERS employee, this is the maximum amount you’re eligible to contribute to TSP and/or another qualified employer tax-deferred retirement plan.

If you’re in FERS, you could spread your contributions over the full 26 pay periods to maximize your Agency Matching Contributions. If you reach the IRS limit of $15,500 too soon, your own contributions will stop and so will the matching contributions. You receive Agency Matching Contributions only on the first 5% of your basic pay that you contribute each pay period.

Decide how much to contribute each pay period by using the TSP Calculator.Go to the bottom of the webpage and click on the start button. There will be 26 pay periods in Tax Year 2008.

Use EEX to specify the amount of your contribution to TSP. You may also call EEX on 1-800-414-5272 and use the Interactive Voice Response System

Thrift Savings Plan Over 50 Catch-Up Contributions

If you’re age 50 or older and you’re contributing the maximum amount allowed by IRS ($15,500), you may elect to contribute an additional $5,000 to your TSP account for Tax Year 2008. Use EEX to make Catch-Up Contributions.

Best Places to Work in Government (Study)

2007-11-15T14:29:00Z

The Best Places to Work rankings — a study of employee satisfaction across all Federal Agencies— gives a nice overview of which Agencies are looking after their workers and which are not. The survey measures:

The extent to which employees feel that their skills and talents are used effectively
Confidence and competence in management
The sense and effectiveness of teamwork
The extent to which employees believe leadership at all levels of the organization effectively leads, motivates, and empowers employees
The extent to which employees feel they are rewarded and promoted in a fair and timely manner
Belief that development needs are assessed and appropriate training is offered
Belief that actions and policies of leadership and management promote and respect diversity
Pay and benefits satisfaction
Feelings that family-friendly flexibilities are offered
Workload fairness

The study is completed annually by the Partnership for Public Service and American University’s Institute for the Study of Public Policy Implementation (ISPPI). The top 5 results by category (Large Agency, Small Agency) are as follows:

For the full study results, visit the Best Places to Work website.

Federal Salary Guides

2007-11-15T13:16:00Z

A complete list (with URL links) of the varying Federal pay rates, pay supplements, allowances, and benefits for Federal civilian employees, military members, Department of Defense (DoD) employees covered under the National Security Personnel System, contractors, and retirees.

General Schedule (GS) Table = A listing of Federal Civilian Salaries by level (without factoring in cost of living additions for specific geographic areas.

General Schedule Table with Locality Pay = A listing of Federal Civilian Salaries by level that includes cost of living additions for specific geographic areas.

Civilian Federal Employee Benefits Guide = A guide to the fringe benefits all Federal employees are eligible for

National Security Personnel System (NSPS) = Pay rates (called pay bans) for Department of Defense (DoD) Employees

NSPS Conversion Calculator = A handy tool for figuring out which pay ban your current GS rate falls into.

Which Agencies/Departments are covered under NSPS? = 186,000 out 0f 700,000 DoD employees. The system is being implemented in phases called Spirals. Spiral 1.1, 1.2, and 1.3 have taken place. Spiral 2 and 2.1 have recently been implemented as well. To learn which Agencies and Departments are using NSPS already, click the links above.

Military Pay Tables for 2007 and 2008 = For those not covered by NSPS

Combat Related Injury Pay Table = Benefits paid to wounded military members

Combat-related Pay Allowances = Supplements provided to families of military members in combat

Combat Zone Tax Exclusions = Tax exemptions granted to military members actively in combat areas

Hostile Fire Pay ($225/month) = A pay bonus granted to military members serving in combat areas

Contractor Pay = Procedures and policies towards the payment of contractors and vendors

Retirement Pay = Retirement benefits granted to Federal employees. For free seminars on retirement benefits, check the schedule for seminars in your area.

3.4 Percent Raise in Federal Pay Likely this Year

2007-11-01T12:50:00Z

On Wednesday, the Labor Department released statistics showing a change in the Employment Cost Index - the index most widely accepted as a tool to calculate rising employment costs - of 3.4 percent from September 2006 to September 2007. President Bush will in all likelihood use this figure to determine his pay raise recommendation in February when he releases his 2009 budget proposal. Full Story...