Getty Images/Photodisc
Multigenerational buyout benefits: You’re all winners!
Those new super buyouts worth $40,000 are now in effect and Mike Causey says they could benefit younger feds too.
When the new, enhanced $40,000 Defense Department buyouts begin, three groups of feds could benefit:
1. Workers with enough time in government and flecks of gray in their hair to be eligible to retire. Some, maybe many, will take the money and run, not walk, to HR to turn in their papers.
2. Mid-career workers who are caught in their agency’s clogged promotion pipeline. Defense is expected to expand over the next few years and they could ride the escalator to promotion and higher pay.
3. The last, but not least, beneficiaries of the new improved DoD buyouts are relatively new employees. Because of the government’s last-hired-first-fired policy, many of the newbies (who lack veterans preference job protection) would be first out the door if their offices or agencies downsize.
As of right now, the new $40,000 buyout option is limited to Army, Navy, Air Force and Marine Corps civilians. But like its lower-horsepower 1990s counterpart (the $25,000 buyout option), it can and likely would be expanded to other agencies if they need it to shrink or reshape their workforce. The $25,000 buyout option is still available to most federal agencies but it has been used sparingly in the last few years. But that could all change.
The hiring freeze President-elect Donald Trump has promised to impose frightens some people. But it is not a new idea. It has been done several times before, always with the same result. Key agencies — those dealing with national defense, national security, homeland protection and law enforcement — will likely, again, be exempted. If that happens, more than half the federal workforce will be exempted from the no-hire or limited-hire order.
Nearly Useless Factoid
Groucho Marx directed his famous quote, “Please accept my resignation. I don’t want to belong to any club that will accept people like me as a member,” to the Friar’s Club of Beverly Hills, of which he was a member. He made the request via a telegram.
Source: Wikipedia
Copyright © 2024 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.
Mike Causey
Mike Causey is senior correspondent for Federal News Network and writes his daily Federal Report column on federal employees’ pay, benefits and retirement.
Follow @mcauseyWFED
