Thursday Morning Federal Newsstand

Written by Ruben Gomez
Edited by Suzanne Kubota

This morning’s federal news as heard on WFED:

Government-wide pay for performance. It could happen within two years under a new plan being floated by OPM Director John Berry. The plan would include large raises for outstanding performers. Those who perform poorly would be given time to improve or risk losing their jobs. The move is part of a strategy to reform the law on federal employee pay. According to GovExec, Berry calls the federal pay system one that is “balkanized to the point of a risk of failure.”

Just two more trading days for May, and your Thrift Savings Plan is heading toward what could be three straight months of gain. TSP Director of External Affairs Tom Trabucco tells us the total amount of money invested has gone up by $15-billion in the last two months.

Planning an exotic vacation this summer? Starting Monday, you’ll have to show a federally approved ID when you return by sea from Canada, Mexico, Bermuda and parts of the Caribbean. It’s part of the government’s Western Hemisphere Travel Initiative. That ID can be a Passport, passport card, Enhanced Driver’s License or trusted traveler card. Those trusted traveler cards are being printed by the Government Printing Office.

A turf war breaks out at the nation’s top intelligence agencies. The battle between CIA Director Leon Panetta and National Intelligence Director Dennis Blair centers on Blair’s effort to choose his own representatives at US embassies instead of relying on CIA station chiefs. Former and current CIA officials warn the plan could create competing chains of command inside U.S. embassies and potentially fouling up intelligence operations. National Security Adviser James L. Jones will reportedly mediate between the two leaders.

President Obama wants to make the Federal Reserve an all-seeing regulator to detect activities that could undermine the entire financial system. The president is also recommending two new agencies to protect consumers and investors. The proposals are part of regulatory overhaul recommendations that the administration is circulating among key lawmakers. Treasury Secretary Timothy Geithner and other White House officials have discussed the proposals in the past. But reportedly the plan is now coming together into a formal package for Congress to consider. No formal announcement is expected until at least the week of June 8.

The federal government takes over pensions for the now defunct electronics retailer Circuit City. The Pension Benefit Guaranty Corporation says it will cover all but $2-million of the pension plan’s $64-million dollar shortfall. The plan covers about 21,000 former Circuit City workers and retirees. The agency says retirees and other beneficiaries will continue receiving monthly checks without interruption. Other participants will receive their pensions when they’re eligible to retire. Circuit City was liquidated in bankruptcy earlier this year.

Other Stories We’re Following

Effective Use of Recruitment, Relocation, and Retention Incentives (OPM memo)

Army launches program to advance senior civilian careers (ArmyNews)

GAO: Despite efforts, gaps remain in data on contractors (GovExec)

GAO Faults Tracking of Gifts to Military (WashingtonPost)

IRS tax revenue falls along with taxpayers’ income (USAToday)

Obama nominates top diplomats to London, New Delhi

FDA group recommends acetaminophen liver warnings

Health insurer suggests ways to save gov’t $500B

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