FederalDaily - April 5, 2006

Union Accuses FEMA of Racial Bias

The NAACP has joined the American Federation of Government Employees (AFGE) to investigate recent allegations of racially-biased hiring and staffing procedures at the Federal Emergency Management Agency (FEMA). Last month, AFGE alleged “a pattern of racial discrimination against African-American employees at the agency.” In a memo to FEMA, the union cited one instance in which FEMA determined there were no adequate candidates for a GS-14 position. AFGE questioned the decision, arguing the office had nine GS-13 employees who could apply for the position—all of whom were African-American. Leo Bosner, a local AFGE president, said, “It is highly suspicious that all of the supposedly unqualified staff are black.” FEMA did not respond to requests for comment.

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Settlement in U.S. Mint Sexual Harassment Case

The U.S. Mint reached a tentative settlement agreement with the female employees of its Denver, Colo., facility. The women alleged widespread sex discrimination, harassment and retaliation. In a March 31 press release, the Mint acknowledged a proposed settlement offer for just under $9 million for damages and legal fees and costs. The settlement is for permanent and temporary female employees at the facility. The agreement also calls for an independent monitor to observe the plant for a three-year period. The Mint said that the agreement is not an admission of guilt, but a move to avoid the expense and delay of court proceedings. The agreement is subject to approval of an Equal Employment Opportunity Commission administrative judge.

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Congress Reviews Pentagon Spending

A recent internal Department of Defense (DoD) investigation uncovered inconsistent and exorbitant pricing within the Defense Logistics Agency (DLA) Prime Vendor program, a House Armed Services Committee press release announced last week. The committee, warned by constituents and news media of questionable contracting decisions, first directed DoD to take corrective action at a November 2005 hearing. Though the Prime Vendor program is supposed to streamline supply chain management and lower costs, in one case a prime vendor contractor charged $23,462 for a four-foot refrigerator. Rep. Walter Jones, R-N.C., said, “The Prime Vendor program was purchasing various items at exorbitant prices, with blatant disregard for the taxpayer.” DLA is currently seeking reimbursement for overcharges, disciplining negligent personnel and removing food service equipment from the program. In addition, DLA requested the Defense Criminal Investigative Service to conduct a criminal inquiry into the pricing inconsistencies.

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TSP Monthly Returns

Rates of Return were updated on April 3, 2006.

The monthly G, F, C, S, and I Fund returns represent the actual total rates of return used in the monthly allocation of earnings to participant accounts. The returns are shown after deduction of accrued TSP administrative expenses. The F, C, S, and I Fund returns also reflect the deduction of trading costs and accrued investment management fees. The most current G, F, C, S, and I Fund rates of return are shown above. Returns are updated after the monthly allocation of earnings, usually by the fourth business day of the month.

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