At various times in our history, very wealthy men and women have volunteered their services to the government. Since they must, by law, be paid something, many of them accepted $1 per year to run various programs, many related to World War I, World War II and the Korean War.

Others — New York City Mayor Mike Bloomberg, Massachusetts Governor Mitt Romney and California Governor Arnold Schwarzenneger — served in top posts for a token $1 per year. During World War II, millionairess Doris Duke worked overseas in an Army canteen for a buck per annum.

The government doesn’t have many — if any — dollar per year persons on the payroll right now. But it’s working on it, with the bulk of the federal civil service.

After three years without the regular January pay raise, feds got a 1 percent increase in January 2014. And they are in line for another 1 percent next January.

For some employees, the January largess will work out to a pay raise of $1 per day. Hardly enough to cover health premium increases, but better than nothing. Or a pay cut. But there is a ray of hope, tiny and dim though it may be …

Starting next year, workers who have Flexible Spending Accounts (FSAs) will be able to rollover up to $500 in unused funds from one year to the next. FSAs allow workers (not retirees) to set aside up to $2,500 in pre-taxed dollars from their salaries. That money can be used for a variety of medical services and drugs not covered by insurance. Before the Affordable Care Act kicked in, people could put up to $5,000 in an FSA.

Having an FSA account lowers your tax bite. In effect, it allows you to purchase uncovered medical and dental services and some drugs at a discount. It’s a good deal for many people, especially those who know roughly how much they must spend each year for out-of-pocket services.

Currently, FSA money that is not spent by a fixed date (usually March of the following year) is lost to the employee. Under the new rule, people who sign up for FSA during the upcoming open season (Nov. 10 to Dec. 8) will be allowed to rollover up to $500 in unspent funds from 2015 to 2016.

Not a king’s ransom, but if you are looking for ways to save a few bucks, this could come in handy.

NEARLY USELESS FACTOID:

By Michael O’Connell

The first President of the United States, George Washington, was paid $25,000 per year from 1789 to 1797.

Source: Measuring Worth.

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