FederalDaily - December 5, 2007

TSP Monthly Returns for November 2007

Rates of Return were updated on December 3, 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.

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Arbitrator Rules Against CBP

In a case involving employees at the legacy Customs Service—now a part of the Bureau of Customs and Border Protection (CBP)—an arbitrator has ruled against the Bureau, saying managers randomly changed employee work hours and altered schedules during weeks with holidays to avoid overtime premium pay. The ruling came in a grievance filed by the National Treasury Employees Union (NTEU) and applies only to officers from CBP’s legacy Customs Service, because the case was filed prior to a May 2007 certification that gave NTEU broader CBP representation. Under applicable law and regulation, employees should have received one week notice of their work shifts; been scheduled so they could receive two consecutive days off; have had schedules that provided for uniform daily work hours for each day of the week; and been scheduled regardless of whether a holiday fell within the work week. The arbitrator ruled that CBP managers did not follow those rules, NTEU President Colleen Kelley said in a Nov. 29 statement. “This decision, which tells CBP it must follow the dictates of federal law and rules—that are also contained in the NTEU-CBP labor agreement—is welcome and long-overdue,” she said. To see more, go to: www.nteu.org/PressKits/PressRelease/PressRelease.aspx?ID=1188.

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OPM, Army Open New Veterans’ Outreach Office

The Office of Personnel Management (OPM) and the Army on Dec. 3 announced the opening of OPM’s newest Veterans’ Outreach Office at Fort Carson, just south of Colorado Springs, Colo. The new office will provide servicemembers separating from the military with information on training and civilian employment opportunities within the federal civil service, OPM Director Linda Springer said in a statement. Office staff will work directly with veterans and their families to provide information on federal employment opportunities and assist with the job search and application process. Springer said the new facility will help ensure departing servicemembers “are able to reenter civilian life with the tools they need to succeed, and possibly continue their national service as members of the federal civil service.” To see more, go to: www.opm.gov/news/opm-army-open-new-veterans-outreach-office-at-fort-carson-co,1344.aspx.

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DoD Establishes TBI Research Center

DoD announced on Nov. 30 that it has opened the doors of a new research center designed to improve the treatment of veterans suffering from traumatic brain injury (TBI) or other related psychological problems. The Defense Center of Excellence (DCoE) for Psychological Health (PH) began initial operations in temporary office spaces in Arlington, Va., and will be fully functional by October 2009, DoD said. The DCoE is part of a joint effort with the Department of Veterans Affairs (VA) to build a national network to advance TBI/PH knowledge and improve its treatment. Assistant Secretary of Defense for Health Affairs Dr. S. Ward Casscells said the DCoE also will help coordinate existing medical, academic, research and advocacy assets within the services. To see more, go to: www.defenselink.mil/releases/release.aspx?releaseid=11527.

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