1/7/08: On Friday, President Bush signed an executive order implementing the federal employee pay raise for 2008 that was included in the omnibus spending bill for FY 2008.
The executive order specifies how the average 3.5% pay raise will be divided between base and locality pay. Under the executive order, 2.5 percent of the increase will be distributed through base pay, and 1 percent through locality pay.
The SEC has not yet issued updated pay tables for SEC employees. However, updated pay tables for GS Schedule federal employees (which do not includee SEC employees) may be viewed on OPM's website by clicking here. These GS Schedule tables show what the pay raise percentage should be for each locality.
For many months, NTEU fought for the 3.5% pay raise contained in the omnibus bill. The omnibus bill and the president's executive order override the president's late November plan that would have limited the 2008 pay raise to 3 percent, split between a 2.5 percent base increase and a 0.5 percent increase in locality pay.