3 ms·
> For federal government employees, salary only represents about half of their total compensation, which includes a lifetime inflation adjusted pension and medi
by snowwrestler 9y ago
> For federal government employees, salary only represents about half of their total compensation, which includes a lifetime inflation adjusted pension and medical benefits.
A relative of mine has been a federal employee for over a decade and gets neither of those. She has a TSP (like a government 401k) and that's it.
Maybe some federal employees got something like this at some point, but it's very misleading to just drop that into conversation like it's true across the board.
- fma 9y agoYour relative either doesn't have an understanding of her retirement plan or isn't telling you everything. One component of the FERS is the "Basic Benefit Plan" which is the pension. https://www.investopedia.com/articles/personal-finance/062513/what-federal-employees-retirement-system-fers-and-how-does-it-work.asp https://www.investopedia.com/articles/personal-finance/06251...
- snowwrestler 9y agoI followed up on this and you're right, there is a pension component too. Although she laughed and said it is "hilariously small."