2023 OPM Federal Employee Benefits Survey (FEBS) Underscores Wide Satisfaction

2023 OPM Federal Employee Benefits Survey (FEBS) Underscores Wide Satisfaction

Source: OPM

WASHINGTON, DC – The U.S. Office of Personnel Management (OPM) today released results from the 2023 OPM Federal Employee Benefits Survey (FEBS). Results from the 2023 FEBS underscore wide satisfaction federal employees have with available benefit programs, and an overwhelmingly positive assessment of those offered under the Biden-Harris Administration.

Overall, the survey showed a high level of satisfaction among enrollees – 90% or more of enrolled participants indicated core benefit programs (TSP and FEHB) meet their needs to a great or moderate extent. Over two thirds of participants reported that the availability of benefits through the Federal Employee Health Benefits (FEHB) Program, a retirement annuity, and the Thrift Savings Plan positively influenced their decision to join the federal government, and more than three-quarters reported that all three programs influenced their decision to stay.

 

“The federal workforce delivers key services to the American people every day. We must support the people who are doing that critical work. The Biden-Harris Administration has strengthened benefits for our employees and their families and this year’s FEBS is a positive sign we’re on the right track,” said Acting Director Rob Shriver. “At OPM, we will continue to support all of our workers, ensuring the federal government remains a model employer to attract and retain the nation’s top talent.”

Additionally, the 2023 FEBS demonstrated the importance of the Paid Parental Leave policy to employees. The report also shows the greatest impact of this benefit is on recruitment and retention among Millennial/Gen Z employees, around 70% of whom reported this benefit influenced their decision to take the job or their decision to stay in the job.

The Biden-Harris Administration has supported expanding health coverage for mental health needs, prevention and treatment of obesity, and treatment options for infertility. In its assessment of  improved benefits for federal employees, the 2023 FEBS demonstrated respondents’ positive opinions, and areas where more employees could take advantage of available benefits.

For example, OPM required FEHB Carriers to cover certain treatments for infertility starting in 2024. Seventy-six percent of respondents in the age group most likely to be using fertility treatments agreed such care should be available through FEHB plans.

OPM administered the most recent survey from October 17, 2023 through November 17, 2023 to approximately 100,000 federal employees, twice the sample size of the prior survey. The full 2023 FEBS results can be viewed here.

Familiar Process ahead for Employees if Shutdown Happens

Familiar Process ahead for Employees if Shutdown Happens

Source: Fedweek

If a shutdown seems imminent, OMB issues a memo to affected agencies telling them to put their contingency plan into effect.

 Agency-by-agency and government-wide policies have remained largely unchanged for many years and the results will be familiar for employees if a funding lapse occurs and triggers a partial shutdown as of the October 1 start of the new fiscal year.

Each agency has a shutdown “contingency plan” that describes the categories of employees who would be required to stay at work, although unpaid until funding is restored (“excepted” employees) and those who would be sent home on unpaid furloughs (“non-excepted” employees). Most of those plans were updated late last year. Follow link to read more. https://bit.ly/3Y0ubdF

Trump’s Second-Term Agenda: Breaking The Bureaucracy

Trump’s Second-Term Agenda: Breaking The Bureaucracy

If elected this fall, Donald Trump’s return to Washington would promise a more aggressive—and plausible—campaign to hobble unions, politicize the nonpartisan civil service and remake the federal government in the Republican’s image. Follow link to read more from Government Executive. https://bit.ly/3ZnPU1n

 

GSA’s Coworking Pilot Could Help Better Plan the Future Of Work, But First, it Needs to Define Long-Term Success

GSA’s Coworking Pilot Could Help Better Plan the Future Of Work, But First, it Needs to Define Long-Term Success

With about half of its leased office space set to expire in the next five years, the General Services Administration is wagering that workspaces shared by multiple agencies could be how federal employees return to the office.

But a Government Accountability Office report published Wednesday that examined the GSA’s coworking pilot program said there needs to be better data illustrating its use and potential cost savings before it attempts to scale the practice.

Follow link to read more. https://bit.ly/4d0BAPu

 

 

Zero Percent Return for the C Fund Over the Next 10 Years?!

Zero Percent Return for the C Fund Over the Next 10 Years?!

The underlying index for the C fund within TSP is the S&P 500 Index.  Is the S&P 500 currently over valued? If so, what does that mean for potential C fund performance, and what does the work of Nobel Laureate Robert Shiller indicate?

How should this inform your TSP strategy? Please follow link to read more from Serving Those Who Serve. https://stwserve.com/zero-percent-return-for-the-c-fund-over-the-next-10-years/