Summer warning: Protect your skin, especially cover your assets

It will soon be summertime in an election year. That’s a red zone for members of the federal family. Long-time feds know that some of the catch-up exercises that Congress plays in presidential years are a time of maximum danger for active and retired G-men and women. Everything from federal pay and pensions to new work rules and investment options may be on the table. And ready to be sliced and diced. So what’s on the chopping block?

• Two proposed MAJOR changes in the FERS retirement program.

• A cut in the interest rate of G-fund where about half of all federal-postal-retiree Thrift Savings Plan investors have their retirement nest egg parked.

•  Eliminating the Social Security supplement for FERS retirees, making it financially impossible for them to retire until at least age 62. For many much later.

• An overhaul of how the Defense Department evaluates and rewards (or punishes) Army, Navy, Air Force and Marine Corps civilian workers. If that takes off, other agencies would like to adopt it, or something like it.

• Big changes at the VA to enable (force) it to crack down on senior executives who allow, condone or OK things like the medical records-keeping scandal where books were cooked to make it appear that vets got speedy treatment, when some went months without getting any help.

Some are part of the House GOP budget.  While it is in no way a done deal, it could happen.

Why are the red flag warnings being posted? Good question:

In election years politicians — not necessarily the most stable members of society in normal times — go nutz. With a “z”. Men and women who have made (or wish to make) careers running against Washington and it’s inside-the-Beltway mentality spend thousands of hours and millions of dollars so they can return to a low six-figure job in a city and situation they profess to loath. The purpose of the I-hate-Washington campaigns is to ensure the incumbents return for another two or six years, or give newcomers a chance to come here and hate it too.

While much of the campaign is showbiz and PR, there can be collateral damage. Often times the collateral is you. Your jobs. Your pay. Your pension. This year, maybe, even your retirement investment options

Many politicians — who spend hours each day fund-raising by phone — are also away from their desks and duties on extended recesses. Especially in election years, and especially in presidential election years. Like now.

After several extended paid vacations already in 2016, the plan is for Congress to take about three weeks off in the next several months, then recess shortly after Independence Day and return sometime after Labor Day. That’s like a summer camp on steroids.

Feds tend to fare best when Congress is away. It’s been years since politicians gave them any improvements in benefits. Now the pattern — from both parties — is to mostly ignore feds or whack them from time to time, with paid vacations already this year. How would you like a break for three of the next 14 weeks, then have a break from your previous breaks lasting from most of July through September? With time out Labor Day, of course.

Regardless of which party controls the new (2017) House and Senate, and regardless of who the 45th president is, the morning after could be a dangerous time for feds. Postal workers and retirees. Lots of people have seen these storms brewing earlier in their careers. Some have seen them come and go, mostly without any major damage to pay or benefits. But things seemed to have changed and the ugliness we’ve all seen (both sides) on the campaign could make this fall/winter when lots of people — especially those in the fed family — wake up with the mother of all hangovers.

Nearly Useless Factoid

By Michael O’Connell

Presbyterian minister Sylvester Graham invented the graham cracker in 1829, as part of the Graham diet, a regimen of bland foods designed to suppress unhealthy carnal urges.

Source: Wikipedia

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