President Joe Biden made the 5.2% average pay raise for the civilian with an executive order on December 21st. The percentage had been the probable raise since the White House budget was released in March. Congress stayed silent on the issue during budgetary debates over the summer, making 5.2% practically a sure bet. A potential shutdown and the re-introduction of the FAIR act, which would’ve made the federal pay raise 8.7%, could’ve potentially altered the federal raise’s projected course but neither appeared to have much impact.
How does this year’s pay raise affect your financial plan for 2024?
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REGISTER HEREThe 2024 National Defense Authorization Act (NDAA) was passed earlier in the month and that finalized a 5.2% salary increase for military and civilian personnel at the DoD. The military pay raise and the raise for civilian feds has only been different seven times since 2007: in 2007, 2010-2012, 2018-2019, and 2021.
It is always important to remember that locality is factored into the 2024 federal pay raise amount and this year’s 5.2% is a just an average. Every fed will get the “across-the-board” raise of 4.7% and then with locality pay taken into consideration, 5.2% is the rough average. So, some feds will be getting less than 5.2% and some will get more depending on where an individual lives and works.
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Until Next Time,
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