FederalDaily - November 21, 2007
TSP to Limit Trades
The Federal Retirement Thrift Investment Board (FRTIB) on Nov. 19 approved restrictions that will
limit Thrift Savings Plan (TSP) participants to two inter-fund transfers per month. Investors will
be able to move money more than twice a month only into the G Fund, which invests in short-term U.S.
Treasury securities. The board’s move came in response to the activity of a few thousand TSP
investors whose frequent day trades were driving up expenses for the rest of the plan’s 3.8 million
investors. The changes are expected to be officially announced and implemented early next year. Certified
financial planner Edward Zurndorfer, author of FEND’s weekly “Informed Investor” column,
believes FRTIB made the correct decision. “In my opinion, this is the right move from the board,
for the simple reason that the TSP is a long-term investment plan,” Zurndorfer said. “Employees—and
to a great extent those retirees who are not taking out their money—need to understand that day
trading is not applicable to the TSP. TSP participants should differentiate between their short-term
and long-term investing needs. And long-term investing means having a majority of their investment
in stock funds—and sticking to that allocation.” www.frtib.gov.
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Bill Would Clarify Bargaining Rights for VA Medical Workers
Legislators have introduced a new bipartisan House measure that would bolster collective bargaining
rights for Department of Veterans Affairs (VA) medical professionals. Proponents say the bill, H.R.
4089—sponsored by Reps. Bob Filner, D-Calif., Tim Murphy, R-Pa., and Steven LaTourette, R-Ohio—clarifies
Congress’ original intent. In a Nov. 19 statement, American Federation of Government Employees
(AFGE) President John Gage called the legislation “a strong endorsement for equity in the workplace.” AFGE
said the bill would repeal “outdated exceptions,” establish a deadline for final review
with respect to grievances and provide clarification to disciplinary appeals board requirements for
employees seeking appeals of adverse actions. Although Congress passed laws in 1991 to provide VA medical
professionals with rights to negotiate, file grievances and arbitrate disputes, AFGE said, VA facility
level managers since then have “used an overly broad interpretation of the exceptions language
to kill any attempt by the employees to bargain over virtually all significant workplace disputes.” To
see more, go to: www.afge.org/Index.cfm?Page=PressReleases&PressReleaseID=801
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AG Review Urged in Case Against Convicted Agents
A lawmaker has asked new Attorney General Michael Mukasey to order a review of the case against two
former Border Patrol agents convicted in the non-fatal shooting of a suspected drug smuggler after
the man was rearrested on new charges. Rep. Walter B. Jones, R-N.C., called for a review of the case
against former agents Ignacio Ramos and Jose Alonso Compean following the recent arrest of Osvaldo
Aldrete Davila—the man who was shot. The two were convicted in the 2005 shooting just north of
the border near El Paso, Texas. Ramos was sentenced to 11 years in federal prison and Compean received
12 years. Aldrete Davila has been charged with conspiracy to possess with intent to distribute marijuana,
and with possession with intent to distribute marijuana in September and October 2005, just after the
shooting, Jones said. The charges call into question the credibility of the witness, Jones wrote in
a Nov. 19 letter to Mukasey. “Mr. Mukasey, in light of this revelation, I urge you to conduct
a full and unbiased review of this case and take any action to rectify this injustice,” Jones
wrote. A bill, H.R. 563, to grant a full pardon for the ex-agents has been introduced in the House
with 102 co-sponsors. It remains in committee. To see more, go to: http://jones.house.gov/release.cfm?id=597
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