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By Ralph R. Smith June 28, 2023 4:30 PM Categories Federal Employee Pay News Leave a comment Locality Pay Areas Continue to Expand: 73% Increase Since 2015 In December 2022, a FedSmith article had this headline within an article : “Adding About 32,000 into Locality Pay System Likely in 2024.”The 2024 annual contribution limit for the TSP is $23,000 per year, an increase of 2.2% over the 2023 annual limit, so it represents a great savings opportunity for federal employees who can afford to contribute the maximum annual amount to their TSP accounts. Federal employees over the age of 50 are also eligible to make catch-up …According to Federal News Network, the TSP has added 185 new customer service representatives to help address the surge in the number of calls.. Current Known Issues. The new page outlines some of the more frequent problems and possible solutions for them. As of the time of this writing, this is a brief summary of what the page contains.December 2023 Inflation Report Issued. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in December after rising 0.1% in November, according to the U.S. Bureau of Labor Statistics. The inflation rate increase was higher than had been anticipated. Over the last 12 months, the all items index increased 3.4%.FEDweek | Government News & Resources for Federal Employees. Saturday, March 9th, 2024. FEDWeek. Two-Thirds of Federal Buildings with Asbestos Not Inspected on … Covering the federal workforce, acquisition, IT adoption and management issues for a new era of public service. From FedSmith The COVID–19 Individual Liberty Act of 2021 (H.R. 5829) was introduced by Congressman William Timmons (R-SC) last week and among its ...In June 2023, FedSmith published this article on locality pay regarding a proposed rule published in the Federal Register by the Office of Personnel Management (OPM). The article noted that the proposal would add about 32,900 more federal employees to the locality pay system. ... FedSmith Update - Our latest news updatesNews and information of interest to federal government employees and retirees.The latest tweets from @FedSmithBasic FEGLI: This is automatic coverage for all federal employees, with an amount equal to your annual basic salary rounded up to the nearest thousand dollars, plus $2,000. Optional FEGLI: You can choose from several optional coverage types, including Option A (standard flat amount), Option B (multiple of your salary), and Option C …The 2024 General Schedule (GS) pay scale is based on the 2024 federal pay raise. The GS pay table incorporates a base pay increase of 4.7% and an additional 0.5% for locality pay. The pay cap for some higher GS grades will be $191,900 in 2024 as limited by the rate for level IV of the Executive Schedule.During May 2023, TSP investors added over one billion dollars into the G Fund and another $425 million into the I Fund. They also withdrew $855 million from the C Fund, $475 million from the S Fund, and $182 million from the Lifecycle Funds. This is a small percentage of TSP assets. As of the end of May, total TSP assets were $767 billion.President’s Pay Agent Issues GS Locality Pay Decisions for 2023—and Beyond. The President’s Pay Agent has issued a report for 2023 GS locality pay and approved recommendations for 2024 GS …10.76%. Blue Cross and Blue Shield Service Benefit Plan Standard Option. 106. Self Plus One. $627.49. $690.84. 10.10%. Generally speaking, the premium increases are above the averages for the 2023 FEHB premium increases overall, and in some cases, well above the average 8.7% increase of federal employees’ share of 2023 premiums.Covering the federal workforce, acquisition, IT adoption and management issues for a new era of public service.Interestingly enough, the TIGTA report found that federal employees in the Treasury Department (which includes IRS) are the most tax compliant federal employees. In FY 2021, IRS employees had a 1.35% tax delinquency rate versus 4.93% for civilian workers throughout the federal government. The report said that this is probably …Related News. OPM Proposes Expanding Locality Pay Areas to 32,900 More Federal Employees. OPM has issued a proposed rule to add about 33,000 federal employees into locality pay areas or creating new areas. 2024 GS Pay Scale for Federal Employees. ... FedSmith Update - Our latest news updatesTSP Performance for All Funds Positive in 2023. So far this month, March has not been profitable for many TSP investors. For core TSP Funds, the F Fund has been the most successful this month. It is also up 2.63% for the year. The G Fund has returned 0.92% for the year-to-date. So far in 2023, the I Fund is ahead of any other TSP Fund …26% 2023 Return for C Fund; S Fund Up 10% in December. The most popular fund in the TSP universe is the C Fund. This fund is based on the S&P 500 index. It had the best return of the year, with a final return of 26.25%. For comparison, the S&P 500 index had a 2023 return of 24%.The RSC budget committee said it supports legislation that would eliminate “automatic raises for federal employees,” and that any raise received by federal employees should be merit-based. The report estimates this would save taxpayers $57 billion over the next decade. Biden is proposing a 5.2% pay raise for federal employees in fiscal 2024.Related News. Value of GS Locality Pay? In One Example, 53% Increase Over "Rest of the U.S." What is the value of joining a GS locality pay area? In this sample, one pay area had a 53% increase over the Rest of the U.S. in one step for a GS 12. OPM Finalizes Locality Pay Areas for 2024. The locality pay areas for 2024 have been …Jan 4, 2023 · For General Schedule (GS) employees, the federal pay cap for basic and locality pay combined is set at the Executive Schedule Level IV pay rate. In 2022, this pay cap was set at $176,300. In 2023, this pay cap is set at $183,500. The result is “pay compression,” with the salaries of a growing number of senior managers subject to the cap, as ... A DIY window sash replacement can save you money and increase your home's curb appeal. Read our step-by-step guide to learn more about this home renovation. Expert Advice On Improv...Once and only once have we had this penalty waiEmmerson Mnangagwa pledges to "eliminate all investment restri Federal Pay Raise 2013-2021: 13.1%. Actual Increase: 18.1% (DC Increase: 21%) Federal pay raises granted over 8 years totaled 13.1%, however, the actual average salary went up 18.6%. In DC, the average salary went up 21%. New federal pay tables for the coming year and the annual COLA increase are always topic of interest for those … UPDATED: January 30, 2024. News for 2024 - 2025 GS P Oct 10, 2023 · In June 2023, FedSmith published this article on locality pay regarding a proposed rule published in the Federal Register by the Office of Personnel Management (OPM). The article noted that the proposal would add about 32,900 more federal employees to the locality pay system. 2023 Federal Workforce Trends: Employment Up, Sepa

To avoid spending $300 on a stuffed purple gorilla, don't play these misleading carnival games. The bright colors, stuffed animals, fried Oreos, and roaring rides of a carnival or ...10.76%. Blue Cross and Blue Shield Service Benefit Plan Standard Option. 106. Self Plus One. $627.49. $690.84. 10.10%. Generally speaking, the premium increases are above the averages for the 2023 FEHB premium increases overall, and in some cases, well above the average 8.7% increase of federal employees’ share of 2023 premiums.Federal Pay Raise 2013-2021: 13.1%. Actual Increase: 18.1% (DC Increase: 21%) Federal pay raises granted over 8 years totaled 13.1%, however, the actual average salary went up 18.6%. In DC, the average salary went up 21%. New federal pay tables for the coming year and the annual COLA increase are always topic of interest for those …The L Income fund (which all other funds eventually convert to) is allocated like this as of October 2023: G Fund: 69.14%. F Fund: 5.61%. C Fund: 13.18%. S Fund: 3.23%. I Fund: 8.84%. 75% of the L income fund is in the G and F funds. These are the more conservative funds within the TSP.

Federal News Network is your source for breaking news and analysis into policies affecting federal employees, from TSP to government shutdowns, and more.Dec 28, 2023 · A Historic 2024 Federal Pay Raise. President Biden finalized the 2024 federal pay raise last week when he issued his annual Executive Order setting it in stone. Current federal employees will get an average 4.7% raise next year with an additional 0.5% for locality for a total of 5.2%. This is the largest pay raise for the federal workforce in ... …

Reader Q&A - also see RECOMMENDED ARTICLES & FAQs. Want to get started with earning airline miles and points? Check th. Possible cause: Under the alternative pay plan, federal employees will receive a 4.1% base p.