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Federal Employees News Digest : Nov. 26, 2012
from $763,029 to $400,000---as outlined in S. 3301, the Senate's version of the fiscal 2013 Financial Services Appropriations Bill. "With budget cuts and sequestration loom- ing, it is fiscally irresponsible to allow private contractors to charge escalating and exorbi- tant rates to the government," the letter stated. "Over the past dozen years, the increase in allowable government compensation to con- tractors has outpaced inflation by 53 percent." According to the letter, "estimates obtained from senior DOD personnel indicate that capping allowable reimbursement of com- pensation at $200,000 per contractor employ- ee would result in savings of at least $5 billion a year." The letter noted that the secretary of defense earns a salary of $200,000. The letter's verbiage was identical to that contained in a similar letter the coalition sent in October to leaders of the Senate and House Armed Services Committees, urging them to include the compensation cap in the fiscal 2013 National Defense Authorization Act. "While private-sector companies can pay their employees whatever they believe those employees are worth, there is simply no sup- portable rationale to have taxpayers pay this exorbitant sum," one of the letter's signers, National Treasury Employees Union President Colleen Kelley, said in a November 13 state- ment issued in tandem with the latest letter. Signers of the most recent letter includ- ed top officials from labor organizations including NTEU, American Federation of Government Employees, AFL-CIO, International Federation of Professional and Technical Engineers, and American Federation of State, County and Municipal Employees. Other organizations signing the letter included the Economic Policy Institute, In the Public Interest, National Employment Law Project, OMB Watch, Project on Government Oversight, and the Center for Economic and Policy Research. The letter went to Sens. Richard Durbin (D-Ill.) and Sen. Jerry Moran (R-Kan.), chair and ranking member of the Senate Financial Services Appropriations Subcommittee; and Reps. JoAnn Emerson (R-Mo.) and Jose Serrano (D-N.Y.), chair and ranking member of the House Financial Services Appropriations Subcommittee. See the letter at: www.nteu.org/Documents/ JointLetter.pdf • • • In Brief Senate oKs vets’ ColA The Senate this month unanimously approved a bill that gives veterans a 1.7 percent cost-of- living adjustment, matching the annual increase provided to Social Security recipients. According to Sen. Patty Murray (D-Wash.), chairman of the Senate Veterans' Affairs Committee and a strong supporter of the bill, an unnamed Senate Republican previously blocked the bill, preventing it from moving forward. "A cost-of-living increase for our veterans is well deserved. Particularly in this difficult economy, our veterans deserve a boost in their benefits to help make ends meet," Murray said. " I am so glad we were finally able to move forward with passage of this bill. Caring for our nation's veterans should never be a partisan issue." The COLA will affect veterans' disability com- pensation, dependency and indemnity compen- sation for surviving spouses and children, and other benefits. November 26, 2012 Vol. 62, No. 20 9 visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FuNDS Nov. 13 oNe moNth Ago oNe YeAr Ago G Fund F Fund C Fund S Fund I Fund lifecycle Funds L Income L 2020 L 2030 L 2040 L 2050 Register free to get rates of return and other TSP info at: www.FederalDaily.com/pages/resources/thrift-savings-plan.aspx 13.9970 13.9802 13.7853 16.0390 16.0018 15.2151 17.3142 17.9628 15.2548 22.7758 23.3818 20.2443 19.3189 19.5144 17.7507 15.5293 15.5999 14.9264 18.2035 18.4561 16.8736 18.7752 19.1089 17.1773 19.2705 19.6675 17.4623 10.5930 10.8391 9.5229 Federal Benefits Q&A Question: "Is it possible to have your annual leave converted to sick leave?" Answer: Annual leave hours cannot be converted to sick leave hours. However, if an employee has exhausted his or her sick leave hours and needs additional hours because of an extended illness or recuperation from an injury or surgery, then the employee can use his or her unused annual leave hours for sick leave. Readers are encouraged to ask questions related to general employee benefits---such as CSRS, FERS, the Thrift Savings Plan, tax and estate planning, insurance, Social Security and Medicare---at the "Federal Benefits Q&A" at www.FederalSoup.com. continued from page 6
Nov. 19, 2012
Dec. 3, 2012