| Comment Number: | OL-10505219 |
| Received: | 3/10/2005 4:28:33 PM |
| Subject: | Notice of Proposed Rulemaking, Request for Comment |
| Title: | National Security Personnel System |
| CFR Citation: | 5 CFR Chapter XCIX and Part 9901 |
| No Attachments |
Comments:
I am extremely concerned with the fact that lower and upper limits of the proposed pay bands will not be automatically increased each year to account for the cost of living adjustment and any locality adjustment. For people who are at, or reach, the top of their pay band, any performance payout (equivalent to the cost of living and locality adjustment) will come in the form of a bonus, which would not count toward that employees basic pay. This would have a very negative effect of reducing the average salary computations for retirement purposes. This could end up costing future retirees tens of thousands of dollars over the term of their retirement. It would also have the effect of forcing potential retirees to retire sooner, since the benefits of staying would be greatly reduced. With an aging workforce and a potential shortage of younger workers, it will be important to encourage experience employees to work longer to fill the inevitable gap. I believe that it is imperative that the pay bands be adjusted each year equal to the amount of the cost of living increase and the locality adjustment. Thank you.