Fed Life — July 19, 2023

A coalition of federal manager advocacy groups has been urging the White House and Congress to fix what they say is a systemic problem with federal pay. It’s called compression. It mainly affects those at the upper ranks of federal career employees. An old provision in federal employment law means they aren’t allowed to earn more than presidential appointees, and Congress has stubbornly held off giving *them* a raise. Federal News Network’s Drew Friedman gave us the latest.

Plus, for Thrift Savings Plan investors, 2023 so far has brought a partial climb back out of the depths of 2022. It’s a good time to separate the patient investors over here, and the would-be market-timers over there. We got more from certified financial planner Art Stein.