If you like to know what your money is doing, be on the lookout for a mailing from the Federal Retirement Thrift Investment Board. It has sent out 4.1 million customized statements to investors telling them how well, or not, their TSP accounts did last year.
Check with whoever handles the mail in your household because about half of the total statements had been delivered by Tuesday of this week. This is one you don’t want to toss.
One feature of the customized statements will show how much money you’ve put into the TSP. That’s something most people don’t know, especially if they’ve been in and out of government, or changed agencies (under different payroll systems). The TSP’s Tom Trabucco said seeing how much you’ve put in versus how much you have in total will, in most cases, show the value of the compounding effect for steady investors. For more from Trabucco, click here.
Once you’ve checked out your TSP account for 2007, compare the TSP with your other investment options. Or with other people’s 401(k) plans. Walter Updegrave, senior editor of CNNMoney.com, says the TSP is an excellent plan that the private sector should try to copy.
Updegrave was our guest yesterday on the Your Turn With Mike Causey and Francis Rose show. The interview, plus information about the new TSP mailing, is archived. And if you want to know why Updegrave is envious of your TSP, click here.
Administrative Leave Flap
The D.C. Circuit Court has ruled that federal agencies may require employees to take annual, not administrative, leave when attending a job-related deposition. The decision came in the case of a Broadcasting Board of Governors employee who, along with a coworker, charged the agency with discrimination. One of the broadcasters also claimed the agency had retaliated against her by forcing her to use annual leave to attend depositions in the case. For details checkout FedManager at: http://www.fedmanager.com/.
Carol A. Bonosaro, the very active president of the Senior Executives Association, has been sidelined following a fall. She’s doing well and will be up and running (slowly at first) shortly. Meantime, she’s in good company. Defense Secretary Robert Gates also lost an encounter with icy sidewalks and fractured his right arm.
The Ties That Bind
FCW.com reports that the new chief commercialization officer at the Department Homeland Security will be allowed to sit on the boards of directors of several companies, and to maintain the website of his currently dormant consulting firm. DHS noted that the individual, Thomas Cellucci, had recused himself from potential conflicts of interest, and that the action was consistent with ethics rules covering limited-term administrative appointees. For more, click here.
Here’s an e-mail from long-time fed who is fed up with FERS employees who complain their retirement plan short-changes them. His comment:
I’m a CSRS employee and I’m tired of hearing the FERS employees whine (maybe they would like some cheese with their whine), about their sick leave. They get the matching (5 percent) contribution to TSP. That was the trade off. Mahalo nui loa
Nearly Useless Factoid
There’s a name for that little piece of plastic or metal at the end of your shoelaces. It’s called an aglet.