Federal Daily - May 6, 2009

TSP Monthly Returns for April 2009

Rates of Return were updated on May 1, 2009.

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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GAO: Army Needs to Rethink Bonuses

As the Army expands to more than 1.11 million personnel, it needs to better manage its recruiting bonus program to make sure it is getting the best bang for its enlistment buck, said a new Government Accountability Office (GAO) report. The report, released May 4, looked at the Army’s program to pay out recruitment and retention bonuses as it grows its end-strength by 65,000 active-duty personnel by Fiscal Year (FY) 2010. GAO said that although the Army has made steady progress in meeting its recruiting goals, it has no method to make sure it is setting bonus amounts at the most cost-effective levels—and does not know whether they are excessive. Because the Army’s guidance gives it the flexibility to award bonuses to occupations that are not considered priorities, there are no assurances that it is getting the maximum benefit from bonus expenditures, the report said. The Army’s system for determining enlistment bonuses also sometimes results in cases in which occupations with varying degrees of responsibility receive the same bonus, GAO said. For example, a food service specialist was eligible to receive the same bonus ($3,000 for a two-year enlistment contract) as an explosive ordnance disposal specialist, even though the latter occupation was listed as a priority specialty, and was tasked with more dangerous responsibilities. The same goes for infantryman, an occupational specialty listed by the Army as a priority specialty. An infantryman received the same enlistment bonus as an Army band musician—$5,000 for a signing a three-year contract, the report said. Army officials told auditors that in FY 2009, amid the worsening U.S. economy, the Army had decreased the amounts of the bonuses it offered, and that it had begun to reexamine the entire program. To see more, go to: www.gao.gov/highlights/d09256high.pdf.

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Survey Ranks TRICARE Tops in Beneficiary Satisfaction

An independent survey ranked TRICARE as No. 1 in beneficiary satisfaction among 22 of the largest healthcare and health insurance plans in 2008, TRICARE Management Activity (TMA) announced on May 4. The Wilson Rx Survey, conducted annually by Wilson Health Information, reported that TRICARE beneficiaries scored TRICARE high enough to rank it No. 1 in satisfaction in about 40 categories, including coverage and availability of diagnostic tests and services, hospital outpatient coverage, access and coverage of referrals, overall coverage of medical treatments and the prescription drug benefit. The survey was self-administered and conducted via mail. Of the 34,454 people completing the survey, 835 were TRICARE beneficiaries, according to the research firm. “It is very gratifying to see beneficiaries rank their healthcare plan so highly in an independent survey,” said Army Maj. Gen. Elder Granger, TMA deputy director. “We looked at the data and found it to be similar to our own results for the same demographics.” TMA administers the TRICARE health care plan for the uniformed services, retirees and their families, serving more than 9.4 million beneficiaries. To see more, go to: www.tricare.mil/pressroom/news.aspx?fid=524.

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