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Job security, good pay, and an excellent retirement system are just a few of
the top reasons most people seek federal employment. Others consider government
careers because of desirable travel opportunities, training availability,
diverse occupations, and the ability to locate jobs nationwide and overseas.
There are eight predominant pay systems. Approximately half of the workforce
is under the General Schedule (GS) pay scale, 20 percent are paid under the
Postal Service rates, and about 10 percent are paid under the Prevailing Rate
Schedule (WG) Wage Grade classification. The remaining pay systems are for the
Executive Schedule, Foreign Service, Special Salary Rates, and non appropriated
Fund Instrumentalities (NAFI) pay scales, and Veterans Health Administration.
Pay & Benefits Menu
Average annual salary for full-time federal government jobs now exceeds
$81,258 and
The average annual federal workers compensation, including
pay plus benefits, now exceeds
$123,049
compared to just $61,051 for the private sector
according to the United States Bureau of Economic Analysis.
The majority of professional and administrative federal workers are paid
under the General Schedule (GS). The General
Schedule has 15 grades of pay for civilian white-collar and service workers, and
smaller within-grade step increases that occur based on length of service and
quality of performance. New employees usually start at the first step of a
grade; however, if the position in question is difficult to fill, entrants may
receive somewhat higher pay or special rates. Almost all physician and engineer
positions, for example, fall into this category. In an effort to make federal
pay more responsive to local labor market conditions, federal employees working
in the continental U.S. receive locality pay. The specific amount of locality
pay is deter-mined by survey comparisons of private sector wage rates and
federal wage rates in the relevant geographic area. At its highest level,
locality pay can lead to an increase of as much as 26 percent above the base
salary. Every January a pay adjustment tied to changes in private sector pay
levels is divided between an across-the-board pay increase in the General
Schedule and locality pay increases.
All employees receive 10 paid holidays, 13 days of vacation for the first
three years service, 20 days of vacation with three to 15 years of service, and
26 days after 15 years. Additionally, 13 sick days are accrued each year
regardless of length of service and employees can carry over any sick leave
accumulation to the next year. Many federal employees accrue sick leave balances
of a year or more during their career. The author had 2100 hours of sick leave,
just over one year, accumulated when he retired in 2005. He was able to exchange
his sick leave balance for an increase in his annuity payment. Military time
counts toward benefits. If you have three years of military service you begin
with four weeks of paid vacation. Military service time counts toward civil
service retirement.
Medical health plans and the
Federal Employees’ Group Life Insurance (FEGLI) programs are available to
all employees. The
Federal
Employees Health Benefits (FEHB) plan is an employee-employer contribution
system and includes fee-for-service, consumer-driven, point-of-service, and HMO
options. The costs are reasonable and the coverage excellent.
The federal government also offers comprehensive dental and vision care under
the Federal Employees Dental &
Vision Insurance Program (FEDVIP). Coverage is available from a number of
healthcare providers and is competitively priced with standard and high options.
The FEGLI program offers low-cost term life insurance for the employee and basic
coverage for the family. FEGLI offers up to five times the employee’s salary in
death benefits.
One of the primary benefits of federal employment is the satisfaction you
experience from working in a challenging and rewarding job. Positions are
available with the level of responsibility and authority that you desire.
The federal retirement system
is currently based on the following: Social Security contributions, an annuity
based on 1 percent for each year of service times your three highest earning
years, Social Security offset if you meet certain conditions, and an employee
contribution system fashioned after a 401k defined contribution plan. You can
elect to contribute up to 15 percent of your salary into a
THRIFT savings 401k plan. The
government matches your contributions. Employees receive 1 percent automatically
and they match the next 3 percent contributed by the employee and 50 cents per
dollar for the next 2 percent contributed. Therefore, if you contribute a
minimum of 5 percent Uncle Sam matches 5 percent. New hires should consider
contributing a minimum of 5 percent to receive a 5 percent match from the
government.
Contributions are tax-deferred and reduce taxable income by the amount
contributed. The retirement benefit is determined by the amount accumulated
during the employee’s career. This includes the interest earned and capital
gains realized from the retirement fund. Visit
http://federalretirement.net, our
retirement planning Web site, for complete information and details about the
federal retirement system.
There are many withdrawal options, including lump sum and various fixed term
annuities. The THRIFT plan contribution payout is in addition to your federal
retirement annuity and Social Security benefits that you will be eligible for at
retirement.
Government Jobs / Federal Jobs / Civil
Service Jobs / Post
Office Jobs
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