Workforce news
DailyFED's workforce section covers news about federal jobs themselves: the yearly pay raise, reductions in force and separation offers, shutdowns and back pay, telework and return-to-office policy, hiring and personnel rules. Each story links to the guide or data page that explains what it means for you.
July20243 stories
- Living Expenses Over A 25-Year Retirement Average More Than $800,000A recent article posted on CNBC.com reveals that you’d need as much as $1 million or more to cover a 25-year retirement in a number of states across the USA.
- Pending Legislation Provides More Long-Term Care Options For VeteransThe need for long-term care (LTC) is growing among veterans and the VA is struggling to meet the demand.
- Baby Boomers Are Carrying Record-High Debt Into RetirementYou may be surprised to learn that consumer debt is skyrocketing among retired Baby Boomers and those poised to retire soon.
June20242 stories
- Retirement Savings Reach Record Highs in 2024, Gaps In Coverage RemainA new Fidelity report revealed that Americans are saving more for retirement than ever before.
- Inflation - Has The Cure Become Worse Than The DiseaseIf you’ve been feeling an additional strain on your pocketbook lately, you’re not alone.
May20242 stories
- Are Your Finances Affecting Your Mental Health?As Mental Health Awareness Month draws to a close, let’s face it, financial issues are one of the driving factors of increased stress and anxiety.
- Life Expectancy Is On The Rise In The USAIn survey after survey, pre-retirees across the nation say their top concern about retirement is outliving their money.
February20243 stories
- Update: Government Shutdown Averted Until March 2024On January 18, 2024, the House of Representatives passed a stopgap bill to fund the federal government through early March to avoid a government shutdown.
- President Biden’s Plan To Strengthen Social SecurityIn its 2023 annual report, Social Security announced that the program will run out of its surplus by 2035 if no changes are made by the government.
- The Differences Between A Retirement Consultant & A Financial Advisor Or PlannerRecent surveys reveal that over 60% of pre-retirees age 50 and older have not worked with a retirement-planning professional and likely never will.
January20245 stories
- Inflation Expected To Drop To 2.4% In 2024According to Forbes.com, the latest economic projections indicate inflation will drop from 3.2% in 2023 to 2.4% in 2024.
- 2024 Retirement Planning Update For Federal EmployeesYou may want to tweak your retirement plan now that certain changes have gone into effect for 2024.
- President Biden’s 2024 Federal Pay Raise Is The Largest Since 1980On December 21st, 2023, President Joe Biden signed an executive order finalizing his 2024 pay raise for federal employees.
- It’s A Fact: High Consumer Debt Can Derail Your RetirementIn the best case scenario, carrying consumer debt into retirement means you’ll have less cash flow each month.
- Update: The Trump Tax Cuts Expire In 2025When the Trump-era tax cuts expire on December 31, 2025, tax rates for 2026 will revert back to levels before the Tax Cuts and Jobs Act (TCJA) was signed into law.
December20234 stories
- Have You Discussed Your Estate Plan With Your Family?Once you prepare your estate plan and select an executor you can trust, it’s wise to discuss your Will with your heirs.
- Estate Planning Is Even More Important For Second MarriagesIn a previous article we outlined the reasons why federal workers need an estate plan.
- Understanding The Basic Components Of An Estate PlanLess than 60% of Americans poised to retire have prepared a Will and other estate-planning documents.
- Are You On Track For A Financially-Secure Retirement?The longer you wait to figure out if you’re on track for a financially-secure retirement, the less time you’ll have to correct any shortfalls.
What we cover here
- Pay. The proposed and final yearly raise, locality changes and new pay tables.
- RIFs and offers. Reductions in force, VERA and VSIP announcements.
- Shutdowns. Furlough rules and back pay.
- Workplace policy. Telework, return to office, hiring and personnel rules.
- Time off. Extra days off granted by executive order.
The rules behind the headlines
Look up current pay on the GS pay scale page and this year's federal holidays.
When the news affects your job
A RIF notice or a separation offer brings decisions with deadlines. A Federal Retirement Consultant (FRC®) can help you see what each option means for your retirement. Get matched with an FRC, free.
More sections: all news · retirement · benefits · TSP
