Mike Causey

Legislative Dead Zone

Did you hear the rumor that the CSRS isn\'t long for this world? The good news is that it isn\'t true. Senior Correspondent Mike Causey says the bad news is tha...

Federal News Network Staff

July 11, 2008 4:00 am

3 min read

You know how hard it is to do something – thread a needle, perform brain surgery, tie your shoes or eat chili – while you are running fast as you can, right?

Hence, this short but sweet advisory for active and retired feds out there who hope that Congress is going to come through with something good for them this year. The message: FUHGEDABOUDIT!!!

The white collar federal pay raise (looking like 3.9 percent) is on track. And that’s about it.

Other pending legislation of interest to feds, whether same sex health insurance coverage to the plan to eliminate rules that reduce or eliminate Social Security benefits for some feds, are not going anywhere this year. Too many of the people needed to get it done are running for something.

Congress has a tight schedule this year. In addition to lots, and lots of time outs, consider that just about everybody on Capitol Hill is either running for President, ran for President, is running for reelection or (if from a safe state or district) working to make sure their party wins the White House.

The bad news is that nothing (other than the pay raise) good is on the horizon for feds.

The good news is that thanks to its preoccupation with getting elected or reelected, Congress isn’t going to do anything bad to feds either.

Retirement Rumor Control

It happens every year, usually in mid-summer and again in January. The internet cranks out the rumor that the government has a secret plan to force people who are under the old CSRS system to either convert to FERS or get out of government. Not true. Isn’t gonna happen. That said, we’ve had a dozen e-mails from reader/listeners who have heard that something bad is going to happen to CSRS. But it’s safe. If you get such an e-mail don’t pass it on (to anyone but us) unless you really hate the person you are sending it to.

More TSP Funds?

Here’s some reader feedback to yesterday’s column about congressional efforts to introduce specialized (gold, real estate, high-tech) funds to the federal thrift savings plan:

Buy Low-Sell High

Read more: Mike Causey

Back when real estate (commercial and family homes) was booming, many people wanted Uncle Sam to offer a real estate option in the TSP. Which prompted this comment: “Right now would be the best time to offer a R Fund (real estate investment trust) fund, and take advantage of depressed prices in the housing industry for when a recovery is sooner or later bound to happen.” Brian at NIST

Could Have Been Worse

Another reader says “Your column made a great point in passing. As bad as the stock market has been, think what would have happened to some folks’ nest egg if TSP added the Real Estate Investment Trusts to the available options like some people were begging. There is a country song that says something like “just because God does not answer your prayer, doesn’t mean he isn’t listening” that sure comes to mind.” Barry Sparks,Fairfax, Va.

Gold Fund Anyone?

“The best argument for a Gold Fund,” says Stan F., “is that the world has always operated by the Golden Rule – Whoever has the gold makes the rules.”

He adds, “A real estate fund is also attractive. My uncle always told me to invest in real estate. At least I think that is what he meant. He told me, ‘Get lots while you are young.'”

Nearly Useless Factoid

Argentine researchers have discovered that methane from cows accounts for more than 30 per cent of the country’s total greenhouse emissions, reports The Telegraph. Accordingly, scientists are now carrying out trials of new diets designed to improve bovine digestion. We’re guessing Beano wasn’t an option.

To reach me: mcausey@federalnewsradio.com