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Federal Employees News Digest : May 20, 2013
May 20, 2013 Vol. 62, No. 42 9 Visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FUNDS MAY 14 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 14.1000 14.0822 13.9026 16.0346 16.1299 15.6447 21.0257 20.2047 16.6654 28.7513 27.4460 22.3264 23.2384 22.4036 18.0523 16.2513 16.1107 15.2811 20.3235 19.8893 17.6600 21.5316 20.9576 18.1325 22.5385 21.8517 18.5505 12.6274 12.1952 10.1631 Federal Benefits Q&A Question: "Is it possible to convert my Federal Employees' Group Life Insurance Basic policy to a "no reduction" option? I retired in 2008 and selected the 75 percent reduction option at that time. I would assume the answer is no." Answer: The answer is no. Once an employee retires from federal service, the retiree has two options regarding what they can do with their FEGLI (in particular, FEGLI Basic) coverage: (1) keep paying for the coverage they chose to keep at the time of their retirement; (2) drop their FEGLI Basic coverage altogether. 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. whistleblower reprisal motivated her removal from federal service. A dis- trict court ruled that Kerr's disclo- sures to her supervisor did not quali- fy as protected disclosures under the Whistleblower Protection Act because they were made in the normal course of her employment. Her appeal in the case was pending at the Ninth Circuit when the WPEA became law in 2012. "Congress clearly stated its intent that the WPEA apply to pending Board cases," OSC argues, citing legislative language which addresses the matter: "(T)he Act's provisions shall be applied in OSC, [Merit Systems Protection Board], and judicial proceedings initi- ated by or on behalf of a whistleblower and pending on or after that effective date (of enactment)." OSC said that denying whistleblowers the benefit of the law "would under- mine, rather than promote, the govern- mental interests that Congress advances in the WPEA." To see more, go to: www.osc.gov/docu- ments/press/2013/pr13_05.pdf. NTEU to represent CFPB employees The National Treasury Employees Union said last week that Consumer Financial Protection Bureau employees have elected the union as their exclusive representative. NTEU will represent more than 800 employees at the new regulatory agency. Votes were tallied May 9. "This vote signals the start of a strong partnership between CFPB employees and NTEU," said the union's president, Colleen Kelley. "Our goal is to develop a collaborative relationship with CFPB management to help the agency succeed in its mission." The Federal Labor Relations Authority, which conducted the election, must still certify the election results. Once that is completed, CFPB employees will be able to form an NTEU chapter, elect officers and start working toward negotiating an initial contract with the agency, the union said. NTEU currently represents employees at a number of financial regulatory agen- cies, including the Securities and Exchange Commission, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration. CFPB was created in July 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act. continued from page 5
May 13, 2013
May 27, 2013