News Briefs

THE DAILY FED

News Briefs

SECTIONS TO CHOOSE FROM:

10th Annual Federal Quality Conference

Get more information on this special conference and download a brochure and registration forms from our special conference section.

U.S. Navy International Logistics Symposium

Secretary of the Navy John H. Dalton will be a guest speaker at a three-day International Logistics Symposium sponsored by the Navy International Programs Office in conjunction with the American Society of Naval Engineers, July 14-16, 1997, at the Hyatt Regency hotel in Crystal City, VA. Representatives from government, industry and foreign nations will meet to exchange ideas and review exhibits on a variety of logistics topics related to the Navy's Foreign Military Sales program. For program information contact NAVSEA (703) 602-9000.

The following news summaries are from OPM AM, the daily newsletter of the Office of Personnel Management. OPM AM is available on OPM Mainstreet, the agency's electronic bulletin board, at 202-606-4800.

**TSP OPEN SEASON**The Thrift Savings Plan Open Season runs through July 31. During this time, you may begin contributing to the TSP, change the amount of your TSP contributions, or allocate TSP contributions to your account among the three investment funds. To get more information and download the forms you will need, click here.

THE FEDERAL DIARY--"The Clinton administration's diversity program, plus two new investment option programs for both federal civilian employees and military personnel, make up today's Monday Morning quarterback section" (Monday, July 7). "When Congress set up a 401k plan for federal workers, many so-called experts doubted that timid bureaucrats would put much, if any, of their retirement nest egg money in a high-risk stock index fund. Were they wrong! This month the high-risk C-fund, which rides the Wall Street roller coaster, tracking the Standard & Poor's 500, is likely to surpass its super-safe, government-guaranteed G-fund (Treasury securities) rival. Each fund now has about $25 billion in it. But the stock fund is growing faster and could supply half the retirement income of longtime investors" (Sunday, July 6). "If said government worker loves nonfederal spouse...be sure the fed provides a survivor benefit at retirement. Just do it! The amount can be as much as 55 percent of the pension, or as little as a few dollars a month. Reason: doing it entitles the nonfederal survivor to continued coverage under the federal health plan for life" (Friday, July 4, The Washington Post).

TELECOMMUTING'S GROWTH MARKED BY GLARING GLITCHES--"Telecommuting has clearly come of age, with some 11 million workers doing it nationwide. A survey by the Metropolitan Washington Council of Governments found 151,000 telecommuters--almost 7 percent of the area work force--and another 380,000 people here who say they are interested in telecommuting. But as it has grown, some unanticipated problems are becoming obvious to even the biggest boosters....For employers, these problematic issues include how to monitor telecommuters to make sure they are working, how to manage off-site workers most effectively and how to decide who should be permitted to telecommute and who should not...Other concerns include how to avoid such legal problems as the liability question in the event of work-related injuries in the home and how much control employers can exert over the working conditions inside an employee's house" (Saturday, July 5, The Washington Post).

NOMINATION--President Clinton announced his intention to nominate Deputy Veterans Affairs Secretary Hershel W. Gober to head the VA. (Friday, July 4, The Washington Post).

BANNER--"Time and pollution are doing what the British could not: They're slowing destroying the huge red, white and blue flag that inspired The Star Spangled Banner,' in 1814. Preserving the banner, which hangs in the Museum of American History on the Mall, could cost as much as $15 million. And experts haven't even decided yet how to proceed" (Friday, July 4, The Washington Post).

FEDERAL TIMES--"The administration's attempt to place 10,000 welfare recipients in federal jobs is raising questions among employees about how to find and hire welfare recipients"(July 14, Federal Times)...."Under bills moving through Congress, agencies would be required to contract out certain work, unless a cost-comparison study shows that keeping it in-house would be less expensive" (July 14, Federal Times).