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Federal Employees News Digest : June 17, 2013
June 17, 2013 Vol. 62, No. 46 8 Visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FUNDS JUNE 10 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 14.1153 14.0978 13.9173 15.8127 16.0631 15.6758 20.9650 20.8071 16.5415 28.5600 28.4592 21.8071 22.4579 23.1338 17.3275 16.2153 16.2221 15.2432 20.1756 20.2311 17.4835 21.3330 21.4083 17.8991 22.2980 22.3903 18.2694 12.4723 12.5343 9.9829 Federal Benefits Q&A Question: "If I die and my Thrift Savings Plan investments go to my husband, and he remarries and he dies, does my TSP go to his new wife or to my son?" Answer: The answer to your question depends on whom you name as your TSP beneficiary (via Form TSP-3). If you name your husband as primary beneficiary of your TSP account and your son as the contingent beneficiary, then at your death your TSP account will go to your husband. When he dies, whatever remains in the TSP account will go to your son. You can also name another contingent beneficiary besides your son for your TSP account. 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 tive and judicial branches or an agency leave bank donate unused annual leave that can be transferred to employees who need additional time off to recover from the affects of the Oklahoma storms. According to guidance laid out in an OPM memo, "severe adverse effects" include "loss of life or property, serious injury, or physical or mental illness as a result of a direct threat to life or health." Employees seeking the transferred leave must apply in writing to their agencies, or if unable to do so person- ally, through a personal representative. Workers who are approved as leave recipients do not need to use up their own paid leave before receiving donated annual leave, according to OPM. See more at: http://www.chcoc. gov/transmittals/TransmittalDetails. aspx?TransmittalID=5615. Hagel says contractors will share the pain Defense Secretary Chuck Hagel told the Senate Appropriations Committee's defense subcommittee last week that contractors will absorb their share of sequester spending cuts. According to American Forces Press Service, Hagel told the panel that the Defense Department is reviewing all of its contracts. "The furlough process does include contractors," Hagel told the lawmakers. "It includes companies, it includes acqui- sitions, it includes contracts." The DOD leader offered the details in testimony at a June 11 hearing concerning the depart- ment's fiscal 2014 budget request. Another department official, DOD Comptroller Robert F. Hale, told the subcommittee that the largest share of the department's $37 billion in sequester- related cuts in the current fiscal year will come from defense contractors, 700,000 of whom work throughout DOD. Of that amount, Hale said, "about $2 billion" in spending cuts will come from furloughs of federal workers. Hale also said that the number of contractors will decline. "I don't know yet how much, because the year isn't over," Hale said, "but I think there will be a sharp drop." See more on the hearing at: www.appropriations.senate.gov/ ht-defense.cfm?method=hearings. view&id=adf0d595-7646-4767-940b- 0dedb5fa93b1.
June 10, 2013
June 24, 2013