FederalDaily - December 29, 2005
TSP Participation Grows
Participation in the Thrift Savings Plan (TSP) reached an all-time high in
November 2005, the Federal Retirement Thrift Investment Board (FRTIB) announced
at a Dec. 19 meeting to review TSP activity. Participation increased by 184,000
from last year, to more than 3.5 million people. FRTIB also decreased administrative
costs to .05 percent (or $50 per every $1,000 of each account balance), compared
to .06 percent during 2004. In other TSP news, since August, 192,000 participants
began using the Lifecycle (L) Fund (which automatically invests TSP funds based
on an individual’s projected retirement date), with assets reaching $6.8
billion. FRTIB also announced its intention to eliminate internal limits on
TSP contributions in 2006, deferring to the Internal Revenue Code limit of
$15,000.
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Rumsfeld Announces Planned Iraq Troop
Reduction
While recently visiting Iraq, Department of Defense (DoD) Secretary Donald
Rumsfeld announced plans to reduce the number of brigades in Iraq during 2006.
Rumsfeld estimated between 15 and 17 brigades would be moved out of Iraq, which
would put the U.S. military presence in the country below 138,000. “The
size and composition of U.S. forces, of course, will continue to fluctuate
as commanders continue to shift focus to emphasize training and supporting
the Iraqi security forces,” Rumsfeld said. Army Gen. George W. Casey
Jr., commander of Multinational Force Iraq, and Army Gen. John Abizaid, commander
of U.S. Central Command, could recommend further reductions as circumstances
allow.
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USPS/DoD Contract to Improve Mail Services
To improve speed of mail to servicemembers serving in Operations Iraqi and
Enduring Freedom, the U.S. Postal Service (USPS) and the Department of Defense
(DoD) recently announced a contract award for all mail to civilian and military
personnel deployed in the Middle East and Persian Gulf areas. The contract,
awarded to Kallita Air, calls for the company to provide mail transportation
to its hub in Bahrain, mail security, all terminal handling and transportation
to 10 other major DoD hubs serving operations in Iraq, Afghanistan and Kuwait.
The contract will take effect in February 2006. The Postal Service currently
dispatches approximately 200,000 pounds of military mail to the Persian Gulf
each day aboard Boeing 747s configured to carry freight.
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EEOC Plan to Improve Service
Beginning Jan. 1, 2006, the Equal Employment Opportunity Commission (EEOC)
plans to “reposition its resources.” The plan does not include
any staff reductions or office closures. EEOC said it will open new offices
in Las Vegas, Nev., and Mobile, Ala. Further, the number of managers and administrators
will be reduced and there will be increases in front-line staff handling investigations
and litigation. EEOC Chairperson Cari Dominguez said, “Repositioning
will enable the EEOC to expand its front-line staff to give the public better,
faster service, and to work more efficiently with severe budgets.”
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