How did the TSP funds perform last month? See the latest returns at TSPDataCenter.com.
As the Postal Service continues to struggle with financial losses, it has come to an agreement with the American Postal Workers Union on a tentative March 14 labor agreement that will save $3.8 billion, largely via pay and benefits cuts.
If you were offered the chance to leave federal service with a buyout or an early out, are you prepared to make the right decision?
OPM should pay new retirees 100% of the retirement estimate provided by the employing agency. In those few cases where this turns out to be too much, OPM can easily make deductions from future payments. And when the estimate is too low, they can pay more, to catch up. Either way, equity will be served.
OPM says that “dramatic progress” has been made in modernizing the federal government’s hiring process in the past year.
According to the GAO, the Postal Service needs to address its aging vehicle fleet, but that doing so will be difficult because it is in a state of financial crisis, having lost $2.6 billion in the first 6 months of FY 2011.
The greatest barrier in providing quality service can be working within a bureaucratic system that rewards mediocrity, avoids accountability, is susceptible to corruption, minimizes risk, encourages avoidance, rewards employees who serenely accept the status quo and discourages those with a desire for providing better service at less cost.
The author examines the failure of the 1978 civil service reform statute in labor relations and human resources generally and suggests a plan to encourage responsive Agency management, integrity and a restoration of merit to the civil service system while continuing to permit employees to be represented on working conditions.
Postmaster General Patrick Donahoe testified before a Senate subcommittee on May 17 that in its current financial state, the Post Office does not have the funds necessary to make a $5.5 billion pre-payment for retiree benefits due later this year.
With the United States hitting the debt ceiling, can you still withdraw your money from your Thrift Savings Plan? Here is the answer from a TSP official.
U.S. Senator Barbara A. Mikulski (D-MD) has introduced the Correction of Longstanding Errors in Agencies Unsustainable Procurements (CLEAN UP) Act,legislation that aims to reduce waste, fraud and abuse in the federal contracting out process and give preference to federal employees for performing work.
