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Reaping REITs' Rewards

September 1, 2005 The Thrift Savings Plan is fairly straightforward and TSP administrators like it that way. The 401(k)-style retirement savings plan lets you choose from five distinct funds that invest in government securities, stocks or bonds. Then, of course, there are the TSP's new life-cycle funds. They handily mix the five existing ...

Hurricane may delay married TSP participants' loans, withdrawals

August 31, 2005 Hurricane Katrina has delayed withdrawals and loans for many married TSP participants, among others, because of damage to the National Finance Center in New Orleans. In a large number of cases, such requests are required to go through the NFC for processing by paper. Many married TSP participants need their ...

Farm Service Agency employees to get buyout offers

August 30, 2005 The Agriculture Department announced Monday that it is preparing to offer buyouts to hundreds of Farm Service Agency employees due to a budget shortfall. In a note to employees, Michael Yost, associate administrator for farm programs, wrote that, "despite FSA's attempt to secure full funding," budget cuts will result in ...

Hurricane not expected to disrupt payroll, TSP services

August 29, 2005 Federal payroll and Thrift Savings Plan services will continue even though Hurricane Katrina forced the evacuation of the New Orleans office that processes paychecks for hundreds of thousands of employees and stores TSP data, officials said Monday. The roughly 1,500 employees of the Agriculture Department's National Finance Center in eastern ...

DHS asks judge to lift ban on some sections of labor relations rules

August 29, 2005 The Homeland Security Department asked a judge Friday to permit parts of its new labor relations regulations to go forward after she halted their implementation earlier this month. U.S. District Judge Rosemary Collyer stopped implementation of DHS' new labor relations rules on Aug. 12, three days before they were scheduled ...

National Park Service seeks to revise labor agreement

August 26, 2005 The National Park Service is trying to back away from an agreement to sign a negotiated labor contract, the National Treasury Employees Union charged Thursday. NTEU, which represents 825 Park Service employees, called the agency's refusal to sign the contract "an apparent effort to deny its employees the benefits called ...

Pentagon to launch rare open season for survivor benefits

August 25, 2005 Military and reservist retirees who chose not to sign up for survivor benefit coverage will have an unusual second opportunity to do so, the Defense Department has announced. Because military retirement pay stops upon the death of the retiree, the Pentagon offers the Survivor Benefit Plan as an insurance policy ...

The Game of Life(cycle)

August 25, 2005 As of this week, nearly 73,000 Thrift Savings Plan participants had invested $2.8 billion in assets in the TSP's new life-cycle funds, according to plan administrators. The TSP Board, which oversees the government's 401(k)-style retirement savings plan, designed the funds to automatically shift participants' money from a mix of riskier ...

Federal law officers’ salaries fall short of big-city counterparts

August 24, 2005 On average nationally, federal law enforcement officers make more money than their counterparts at the state and local levels. But federal officers in some high cost-of-living areas earn significantly less than local officers in equivalent positions, according to a new Congressional Budget Office report. The study found that in Los ...

FEHBP contractor agrees to pay $1.5 million settlement

August 23, 2005 An insurance company has agreed to pay $1.5 million to settle allegations of overcharging the Federal Employee Health Benefits Program. According to the Justice Department, between 1992 and 2002 Anthem Blue Cross and Blue Shield of Indianapolis overcharged the Office of Personnel Management, which administers the FEHBP, by including "impermissible ...