Answers

  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • It is not commonly known by people in the private sector, however, people in government jobs often have very regimented pay structures and a different retirement plan than Social Security.

    Most government employees pay into and earn a pension instead of Social Security.

    The GS or General Schedule is the most used pay scale for professionals working for the federal government. You can use the following link to find your exact GS pay scale -- they have different tables for years, location, hourly rates or yearly rates.
    http://www.opm.gov/oca/12tables/indexgs.asp

    The general annual rates by grade and step for 2012 are here: http://www.opm.gov/oca/12tables/html/gs.asp

    This table states that a GS7, Step 7 would be: $40,777

    I am not an expert on government pay. It appears that a WG is a within grade pay increase. I do not feel qualified to try to figure out which scale would be greater for you.

    Your best bet for finding the answer to your question might be through contacting the U.S. Office of Personnel Management. Frequently asked questions, phone numbers and email addresses can be found here:
    http://www.opm.gov/retire/contact/index.asp

    We wish you all the best!
    http://www.NewRetirement.com

  • Login to rate this answer:   Answered on 11/8/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.