SEC Employee Reductions and Voluntary Separations Discussed in House Hearing

SEC Staffing Reductions

• 📉 The SEC's fiscal year 2025 appropriation is approximately $1 billion, with a stated goal to "rightsize" needs for fiscal year 2026.
• 👥 At its peak a year ago, the SEC had about 5,000 employees and 2,000 contractors; currently, staffing is around 4,200 employees and 1,700 contractors, a reduction of about 15%.

Voluntary Separations

• 🤝 Approximately 600 SEC employees participated in voluntary early retirement or separation incentive programs, accounting for the 15% reduction in headcount.
• ❓ The common denominators for employees choosing voluntary separation were not detailed, but reasons can include retirement, relocation, or long tenure at the agency.
• 📈 The SEC views these voluntary separations as opportunities for younger staff to advance and gain experience.

Future Budget and Staffing

• 🗓️ The SEC cannot yet confirm if the fiscal year 2026 budget request for salaries and expenses will be lower than the 2025 appropriation.
• 📊 Details on the fiscal year 2026 budget request are expected to be determined over the summer.

Office Space Utilization

• 🏢 The SEC is generally back to in-office work, but specific figures on current office space utilization compared to maximum telework periods are not available.
• ❓ The SEC can provide data on office space usage if requested.