FederalDaily - July 26, 2007
GAO: Congress Should Consider Additional TSP Oversight
Government Accountability Office (GAO) in a new report called again on Congress to improve oversight
of the Thrift Savings Plan (TSP) by considering the establishment of a formal communication channel
through which TSP managers can alert lawmakers of looming problems. In light of recent congressional
concern, GAO looked at the Federal Retirement Thrift Investment Board (FRTIB), which serves as manager
of the TSP retirement savings and investment plan that holds approximately $210 billion in assets for
3.7 million participants. FRTIB is overseen by both Congress and the Labor Department (DOL), but GAO
noted in the recently released report that TSP oversight by Congress is sporadic at best, limited to
occasional committee oversight hearings. And DOL conducts annual audits of the plan, but has no formal
process to communicate its issues of dispute, GAO said. GAO pointed out that it has previously recommended
that Congress enact legislation to require DOL to establish a formal process by which it can report
to Congress on areas of critical concern. To see more go to: www.gao.gov/new.items/d07611.pdf
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Union Warns of Decaying FAA Infrastructure
The Federal Aviation Administration (FAA) is neglecting to maintain the buildings and facilities that
accommodate critical National Airspace System (NAS) equipment, putting in danger the employees who
operate those systems as well as the traveling public, a federal transportation worker union said on
July 24. Professional Airways Systems Specialists (PASS) President Tom Brantley, in testimony before
a House aviation subcommittee, expressed concern over reports of employees falling through rotting
floors and off unstable stairways at FAA facilities. In addition, he said, employees are being exposed
to dangerous levels of mold and asbestos. “The FAA is often touting its safety record; however,
when it comes to its own employees, safety appears to be low on its priority list,” said Brantley.
To see more, go to: www.newsmgr.com/publish/article_899.shtml
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Army Major, Wife Charged in $9.6 million DoD Bribery Scheme
An Army major and his wife face federal bribery and money laundering charges in connection with work
the officer did overseeing DoD contracts while serving in Kuwait in 2004 and 2005, Department of Justice
(DOJ) officials said July 23. John L. Cockerham, a resident of Fort Sam Houston Army Base in San Antonio,
Texas, and his wife, Melissa Cockerham, were arrested by federal agents on July 22. Cockerham faces
charges of bribery, money laundering and conspiracy; and Mrs. Cockerham faces charges of money laundering
and conspiracy, DOJ said in a statement. According to the affidavit filed in support of the arrest
and search warrants, Maj. Cockerham allegedly accepted $9.6 million in bribe payments from at least
eight DoD contractors working in Iraq and Kuwait. Melissa Cockerham is charged with receiving the payments—which
came in the form of both U.S. and foreign currency—and depositing the money in bank accounts
and safe deposit boxes in Kuwait and Dubai. In addition to the $9.6 million the couple allegedly received,
records indicate that Cockerham may have anticipated receiving as much as $5.4 million more, DOJ said. To
see more go to: www.usdoj.gov/atr/public/press_releases/2007/224694.htm
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