trdhrdr007
Bronze Member
- Nov 1, 2009
- 1,427
- 1,332
The OP stated that "I pay into a TSP.........That is my retirement plan......people like to complain that Govt workers have access to so many benefits that are greater than....." I interpreted that as the OP saying that his retirement plan was the equivalent of a 401K & that Govt benefits aren't greater than the private sector. I might not have known what the various components of federal retirement benefits were called but I did know that the entire retirement plan of a federal employee wasn't the equivalent of a 401k so I called BS.
It's entirely possible I misinterpreted the OP. I definitely didn't clearly state my point in my response. To be clear, my point is that the package of federal retirement benefits is not the equivalent of a 401. I don't have a problem with someone that wants to compare a portion of the entire package to a 401k as long as they don't make the claim that the portion "is my retirement plan".
It's entirely possible I misinterpreted the OP. I definitely didn't clearly state my point in my response. To be clear, my point is that the package of federal retirement benefits is not the equivalent of a 401. I don't have a problem with someone that wants to compare a portion of the entire package to a 401k as long as they don't make the claim that the portion "is my retirement plan".
Im a Govt employee. I work VERY hard to earn my salary. In fact my actual day to day job is to save the Govt money (for acquisitions).
Not to mention, most Govt employees have not been on the pension system (called CSRS) since 1988 (I think, could be off by a few years). Most currently employed Govt workers who have been working for 25 years or less are on the FERS system. I pay into a TSP, which is basically a Govt 401k. I can pay up to 5% of my salary into an account, which the Govt matches. That is my retirement plan which I am both earning and paying at least 50% towards. I know people like to complain that Govt workers have access to so many benefits that are greater than what private industry offers. But, please keep in mind that most large businesses (and even some small) offer some sort of retirement plan (401k, etc) and some even offer traditional pensions and/or severence packages. Don't forget that private or public sector alike, all employees who have paid into Social Security are eligible to collect upon retirement. So the issues facing SS right now will affect both you and me alike.