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Federal Employees News Digest : Feb. 25, 2013
depot maintenance, which would mean ter- minating employment of an estimated 5,000 temporary, term, contractor and permanent employees due to reduced workload. Navy Adm. Mark E. Ferguson III added to Odierno's dire predictions, say- ing that "the Navy will be unable to execute all the naval force requirements of the combatant commanders." "Simply stated, the combined effect of a yearlong continuing resolution and sequestration will reduce our Navy's overseas presence and adversely impact the material readiness and proficiency of our force, thus limiting the president's options in time of crisis," Ferguson said. The head of the Marine Corps echoed Ferguson's concerns regarding the extent of the expected damage. "Without action from Congress to address the magnitude of defense resource changes, the abrupt nature of the imposition of reductions, and the severe inflexibility in their implemen- tation, the nation will experience sig- nificantly degraded defense readiness," Marine Corps Commandant Gen. James Amos testified. "The strategic impacts will be immediate and global." Air Force Chief of Staff Gen. Mark A. Walsh III noted that flying hours remain- ing in the current fiscal year would drop by 203,000 hours across the Air Force---but also highlighted the sequester's expected effect on operations manned by civilians. "Should sequestration occur, the Air Force expects the requirement to invol- untary furlough up to 180,000 civil- ian airmen," he said. "The operational impacts will be particularly severe in parts of the Air Force that rely most heavily on civilians, like our depots and some of our flying training bases." Others testifying before the committee included Deputy Secretary of Defense Ashton B. Carter, Under Secretary of Defense Controller Robert F. Hale, Joint Chiefs of Staff Chairman Gen. Martin E. Dempsey, and National Guard Bureau Chief Gen. Frank J. Grass. To see more, go to www.defense.gov/ News/NewsArticle.aspx?ID=119273, or www.armed-services.senate.gov/hear- ings/event.cfm?eventid=75b85d405886 3364782faf917d08a08a. February 25, 2013 Vol. 62, No. 30 8 Visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FuNDS Feb. 19 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 14.0519 14.0325 13.8468 15.9170 15.9926 15.4271 19.4073 18.7972 16.8621 26.7773 25.6581 23.2391 21.8433 21.4293 19.3778 15.9611 15.8526 15.3109 19.5000 19.1844 17.9336 20.4604 20.0463 18.5095 21.2698 20.7756 19.0134 11.8374 11.5298 10.4666 Federal Benefits Q&A Question: "Some folks came out of a supervisor in-service recently and some confusion exists regarding 1811 6(c) retirement medical insurance. Some people think that if you don't retire at 50, for example, with 25 years of 6(c) service, but retire at 48, then you 'lose' or have 'reduced' health insurance benefits." Answer: The requirement to keep one's FEHB health insurance during retirement (in which an annuitant pays on aver- age 25 percent to 28 percent of the FEHB insurance premiums) is that the employee is a participant in the FEHB program for at least the five years preceding the employee's retirement date. It makes no difference what type of employee (includ- ing a 6(c) service employee) and at what age the employee retires (regular or early retirement). 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 5
Feb. 18, 2013
March 4, 2013