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Mentor
1) You can run the numbers yourself on the pension. The GS pay scale and pension formula are both publicly posted, so you can take the numbers from there and play around with the pension figures based on your salary projections.
2) The feds over a boatload of health insurance options, but most are pretty run of the mill that are similar to what you have now at Deloitte. Figure out what the cost is for your current plan and that's likely what you'd save in retirement as a fed.
You can take the numbers for #1 and #2 and run your projections based on those calculations. There's significant variation in #1 based on where you fall on the GS scale, which could be anywhere from a ~13 to SES, depending on where you go in and what you finish at. Unless you get a high enough SES position or land a high enough role at one of the financial regulators, you'll take an immediate pay cut and have a lower salary ceiling than at Deloitte.
What does the Deloitte pension look like for you?
On salary, just fyi, the payscale is higher at financial and banking regulators. Some have a better pension plan and benefits, as well.
The draw for switching to government is when you have small children and need a work life balance. In government I would work 4 hours max a day and was a high performer. Most of my colleagues had second jobs or hobbies that dominated their spare time. This was 7 years ago. I left because I wanted to have a real career that challenged me. I would go back only if I became pregnant or had to take care of my mom. It really depends on what you are looking out of life. The benefits are about the same except for PTO which is very generous in the government.
You would take a huge HUGE paycut going to government. Even a maxed out GS 15 is only 165k in mid level cost of living so you’ll never make more than your making from now until you retire (you can look up pay scales on OPM.gov to see what your locality is for GS pay scales, but likely it won’t touch 185k. The retirement and pension is not what it used to be. I just left government because I got an offer for more than I could ever make in the government (I’m 32). To each their own, but I would really look at the numbers if I were you and see if you can take a massive paycut and accept being maxed out on pay from age 40 to 65. You would be maxed out so you wouldn’t get pay increases, and cost of living increases are not guaranteed, and are typically no more than 2% when they are given. The job I just took has infinitely better benefits than the government and will make me literally hundreds of thousands (if not millions) more by the time I retire than government. I also have an active clearance and a masters so similar to your situation. I left a GG13 position. Take a look and do the math and see if it fits in your plan.
Mentor
To clarify, the pension is 1% of your high-3 average times your years of federal employment if retiring under age 62 or retiring with less than 20 years of service, or 1.1% if retiring at or after 62 with more than 20 years.
To throw some math at a best case scenario, let's say you join at 55 this year as a stepped out 15 in DC and retired at 62, assuming 2% increases in the 15 cap.
Your 7 years of service would give you a high-3 of $194,674 and an annual pension of $13,627. Frankly, that's not at all worth it in my opinion. The fed pension really only makes sense as an incentive if you're spending 20+ years as a fed.
Not even close to being worth it at your level and age. *Maybe* if you could get a maxed out GS-14 or 15, but I'd still balk.
Coach
Exactly what D 2 said
I would def consider it. The government has AMAZING benefits. Especially for a family.
Mentor
It's been decades since the feds offered amazing benefits. In aggregate, fed benefits are equal at best to industry benefits.
No.