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Federal Employees News Digest : March 11, 2013
One Website... Breaking News Policy Reference Legal Updates Job Listings Forums Career Blogs Retirement Strategy Pay & Bene ts Guidance Financial Planning ...Hundreds of Resources www.FederalDaily.com Check in daily to: • Read headlines and top stories, including breaking policy news • Find job opportunities and federal resources inside FedCentral • Join the conversation with 50,000+ feds in the Federal Soup forums • Shop for federal benefts and retirement guides in the FedStore March 11, 2013 Vol. 62, No. 32 5 Visit us on the Internet at www.FederalDaily.com improve efficiency throughout the fed- eral bureaucracy." Issa said many of those recommenda- tions could be implemented over the short term. The lawmaker went on to ask the agency to produce a "targeted list of pro- grammatic spending reductions" and "a list of programs no longer necessary to meet the goals of the agency." The oversight committee was slated to begin holding a series of hearings to explore implementation of the IGs' rec- ommendations. TSP offers furlough fact sheet The Thrift Savings Plan this month published an updated fact sheet on how furloughs affect TSP accounts. Among the fact sheet's key points: •Those contributing a percentage of basic pay to the TSP will see their con- tributions reduce in proportion to their pay. Those who instead contribute a set dollar amount will see no change in their contribution amounts. •Federal Employees Retirement System employees should note that any reduction in basic pay will also reduce agency contributions. •Employees who take a financial hardship withdrawal from the TSP should realize that they will not be able to make any TSP contributions for six months after taking that withdrawal. Those employees also would have to pay income tax on the taxable portion of any withdrawal, and could be sub- ject to a 10 percent early withdrawal penalty. The fact sheet is available at https:// www.tsp.gov/PDF/formspubs/oc13-7.pdf. Furloughs seen for DOD schools, commissaries Sequestration will result in fur- loughs of federal civilian employees at Department of Defense Education Activity schools and at the Defense Commissary, a Pentagon spokesman said last week. Press Secretary George Little said civil- ian teachers and support personnel at DODEA schools will be will be fur- loughed one day a week from April through the end of September, barring intervention from Congress. Little said DOD would work to man- age the furloughs in a way that ensured the 84,000 students at 194 schools served by DODEA receive an accred- ited school year of instruction. Little said that although furloughs will not affect summer school, they may have an impact on the first month of the 2014 school year. The press secretary also deemed it "likely" that the furloughs will require the department's 247 commissaries to close one additional day per week, prob- ably beginning at the end of April. continued from page 4
March 4, 2013
March 18, 2013