Close

Biweekly Premium Pay Limits Can Be Lifted for Feds Fighting the Outbreak

Agencies Given Go-Ahead to Waive Biweekly Premium Pay Limitation for Employees Fighting Coronavirus Outbreak

OPM’s new acting director, Michael Rigas, sent a letter to Agency heads regarding the waiving of Biweekly Premium Pay Limitations for employees who work for agencies that receive premium pay funding from FEMA emergency funds. This gives the leadership of several agencies the authority to boost the pay for several of their employees who are on the frontlines of the COVID-19 crisis. The premium pay equates to about a $13 per hour raise.

Typically, these employees that receive premium pay can do so only if their basic pay plus premium pay for the year doesn’t exceed the payrate for GS-15, step 10 (including locality pay) or the executive schedule’s level V (whichever is greater). The discretion to waive these limits has been given to agency heads so long as it is for employees directly involved with the coronavirus emergency.

Stay Safe,

Until Next Time,

**Written by Benjamin Derge, Financial Planner. The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.