The economy is rough out there for many Americans, and the numbers show that more TSP participants are taking advantage of loans and in-Service withdrawals when compared to previous years.
High unemployment in the private sector and continuing economic woes are making some people focus on the pay and benefits of federal workers as being too high compared with those in industry. But one of the top House lawmakers whose subcommittee focuses on the concerns of federal workers dismissed much of the criticism over pay and benefits. Rep. Stephen Lynch said much of the unfounded comments, some of which is based on inaccurate information, hurts the government\'s efforts to bring smart people into public service.
Are federal workers the driving force behind economic recovery, or are fat cat bureaucrats making things worse? Senior Correspondent Mike Causey says it depends on which set of factoids you read and believe.
Why do people LAUGH when someone says \"I\'m from the government and I\'m here to help\"? Senior Correspondent Mike Causey keeps his finger on the pulse and tells us the patient will live. Probably.
Compared to the private sector, civil servants are a very different breed of cat, as Senior Correspondent Mike Causey explains.
Dwight Bowman AFGE 14th District National Vice President Armstrong Williams Political Commentator and Host, The Right Side TV Show Gary Chaison Author, \"Unions in America\"
\"Federal and private employees are apples and oranges because the former is dependent on the latter for its existence. In the natural world, this relationship is call (sic) parasitism,\" writes Cato\'s Tad DeHaven.
Do you know how much money you\'re going to earn with your TSP account over the next 10, 20 or 30 years? Turns out, that\'s not really easy to calculate. Tom Trabucco of the TSP explains how to use online calculators correctly.
OPM says that it\'s unfair to compare federal workers\' compensation with private sector workers at-large. Federal workers are specialized and have a higher degree of education, and only 11 percent of employees work in blue collar jobs. In addition, OPM director John Berry told Federal News Radio that the number of healthcare and technology professionals in the federal workforce grew by 50 percent over the last 30 years. The Cato Institute reports that federal employees rank in the top five sectors based on average annual pay.
Agency said latest statistics find on average federal employees make 22 percent less than their private sector counterparts. Sheldon Friedman, chairman of the Federal Prevailing Rate Advisory Committee, says recent news stories about feds making more than the private sector do not accurately depict the data.
Terry Spencer Hesser Author, \"I Am a Teamster: A Short, Fiery Story of Regina V. Polk, Her Hats, Her Pets, Sweet Love, and the Modern-Day Labor Movement\" Heidi Shierholz Economist, Economic Policy Institute Reece Rushing Director of Government Reform, Center for American Progress
Rep. Debbie Wasserman Schultz (D-Fla.) Arianna Huffington Co-Founder, The Huffington Post Danielle Brian Executive Director, Project on Government Oversight (POGO)
One expert reminds federal workers to review their allocations more often than just once a year as market volatility can wreak havoc on funds. The goal is to make small adjustments as needed. All the TSP funds did well in July, including rebounds from two months of losses by the C and I Funds.