House approves TSP automatic enrollment measure
By Alyssa Rosenberg
arosenberg@govexec.com
July 31, 2008
The House passed legislation on Wednesday that would
automatically enroll new federal employees in the Thrift Savings
Plan and set their contributions at 3 percent of basic pay.
The funds from automatic enrollments would be invested in the
stable government securities fund to insulate new participants
from any potential large losses. The original version of the
legislation would have invested those funds in the TSP's
life-cycle funds, which begin with a more aggressive mix of
investments and switch to a more conservative portfolio as an
employee approaches retirement. Employee advocates had expressed
concern that investing automatic enrollment funds in the
lifecycle funds would expose employees to more risk than they
might be comfortable with.
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Government
Executive
House backs new FERS sick leave policy
By Brittany R. Ballenstedt
bballenstedt@govexec.com July 31, 2008
The House passed a measure on Wednesday that would grant
federal employees hired since 1984 the same benefit as their
counterparts in an older retirement system: credit for unused
sick leave in their pension calculations.
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Government
Executive
House appropriators approve 3.9 percent
civilian pay raise
By Brittany R. Ballenstedt
bballenstedt@govexec.com June
25, 2008
The House Appropriations Committee voted in favor of the
raise as part of the fiscal 2009 financial services and general
government appropriations bill. The adjustment is 1 percent
higher than the increase proposed by the Bush administration,
which in February called for a 2.9 percent hike for civilian
workers and a 3.4 percent pay boost for military personnel.
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