FederalDaily - June 5, 2007

GAO: DoD’s TRICARE Savings Plan Falls Short

The Pentagon’s proposal to cut DoD healthcare spending by pushing more costs onto TRICARE beneficiaries won’t achieve anywhere near the savings DoD projects, said a recent Government Accountability Office (GAO) report. GAO looked at DoD’s Sustain the Benefit program, which is designed to generate an estimated $9.8 billion in savings over five years by hiking TRICARE enrollment fees and deductibles for retirees and dependents under age 65. The program is designed to drive about 500,000 current beneficiaries from TRICARE and reduce the health plan’s enrollment. Although DoD would likely achieve significant savings, the increased TRICARE costs probably won’t drive as many beneficiaries from the plan as DoD projects, the report said. “DoD’s estimated savings is likely too high because the estimate does not account for older and sicker individuals,” the report said, “who are less likely to leave or not enroll in TRICARE, and who incur greater-than-average medical expenses.” GAO recommended that DoD do a better job at collecting data in helping to manage the TRICARE system. To see more, go to: www.gao.gov/new.items/d07647.pdf 

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Union: NTSB Investigation Reveals Lack Of FAA Oversight

A National Transportation Safety Board (NTSB) finding that faults the Federal Aviation Administration (FAA) field oversight program for a 2005 fatal crash illustrates the need for additional FAA maintenance inspectors, said a union that represents the inspectors. NTSB on May 30 said FAA’s failure to properly oversee Chalk Ocean Airways’ maintenance programs contributed to the 2005 crash that killed 20 people, said Linda Goodrich, Professional Airways Systems Specialists (PASS) union regional vice president. The NTSB determination illuminates the need for additional inspectors in the field to oversee airline maintenance work done by airline subcontractors, Goodrich said. “The combination of insufficient inspector staffing, little or no oversight of outsourced maintenance and outdated regulations made for the perfect storm of this tragedy,” Goodrich said. “PASS has repeatedly warned the FAA that it must take steps to significantly boost its inspector workforce.” To see more, go to: www.newsmgr.com/publish/article_873.shtml    

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Senator Calls for Study of Border Patrol Staffing

Sen. Charles Schumer, D-N.Y., is calling for a government probe of Border Patrol staffing in light of the failure of border guards to detain at the northern border a Georgia man with drug-resistant tuberculosis. Andrew Speaker, a 31-year-old Georgia lawyer, on May 25 entered the United States at the Plattsburgh, N.Y., crossing. He had been placed on a watch list and border guards were told to stop him, but the Plattsburgh Border Patrol failed to do so, Schumer said. The senator is seeking a Government Accountability Office investigation into staffing, particularly at the northern border. “This incident showed that potential staffing shortages at the nation’s border crossings has left agents overworked, under-trained and lacking back-up support to deal with a deluge of travelers seeking to enter the nation,” Schumer said on May 31. Speaker has since been placed under federal quarantine, the first such person so designated in the last 40 plus years. To see more, go to: http://schumer.senate.gov/SchumerWebsite/pressroom/record.cfm?id=275388  

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TSP Monthly Returns for May 2007

Rates of Return were updated on June 1, 2007.

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.

For more details on TSP, click here.

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