Federal Daily - March 5, 2008
TSP Monthly Returns for February 2008
Rates of Return were updated on March 3, 2008.
| |
G Fund |
F Fund |
C Fund |
S Fund |
I Fund |
| February 2008 |
0.24% |
0.16% |
(3.28%) |
(2.05%) |
0.66% |
| Last 12 months* |
4.66% |
7.52% |
(3.59%) |
(5.85%) |
(0.22%) |
Percentages in ( ) are negative.
* The returns for the G, F, C, S and I funs for the past 12 months, assuming that,
with the exception for the crediting of earnings, unchanging balances (time-weighting)
from month to month and assuming that earnings are compounded on a monthly basis.
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.
| |
L Income |
L 2010 |
L 2020 |
L 2030 |
L 2040 |
| February 2008 |
(0.22%) |
(0.59%) |
(1.25%) |
(1.51%) |
(1.80%) |
| Last 12 Months |
3.50% |
2.80% |
0.57% |
(0.37%) |
(1.11%) |
Percentages in ( ) are negative.
For more information on TSP, visit our TSP page.
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Union Critical of IRS Extension of Debt Collection Contracts
The National Treasury Employees Union (NTEU) criticized IRS renewal of a pair of contracts with private
tax collection firms, saying the efforts have produced poor financial results. IRS on March 3 announced
it was extending the contracts of Pioneer Credit Recovery, Inc. and CBE Group, Inc. A third contract,
to Linebarger Goggin Blair & Sampson, LLP, was dropped during its term last year. Operation under
the initial contracts began in September 2006 as part of the agency’s effort to close the tax-gap.
NTEU President Colleen Kelley, a staunch opponent of the private tax collection program, said the contracts
should not have been extended because of significant problems with the private collectors. “This
wrong-headed decision flies in the face of a mountain of evidence that this program is a financial
flop,” said Kelley. NTEU said IRS figures in Fiscal Year 2007 showed the private companies brought
in just $31 million in gross revenue. After deducting commission payments, the net revenue from the
activity of the private companies was just $20 million, NTEU said. But when the $71 million in IRS
program start-up costs are included, the actual result was a loss of $50 million, Kelley pointed out.
To see more, go to: www.nteu.org/PressKits/PressRelease/PressRelease.aspx?ID=1226
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VA to Extend Education Benefits for Reservists, Guardsmen
The Department of Veterans Affairs (VA) announced on March 3 that it was offering expanded eligibility
of education benefits for some members of the National Guard and reserves who serve on active duty.
Under new provisions, members who accumulate a total of three years on active duty—regardless
of breaks in service—may be eligible for the maximum payment under the Reserve Education Assistance
Program (REAP), VA said in a statement. Previously, reservists and guardsmen had to serve two continuous
years on active duty to receive the highest payment. The new eligibility rules are retroactive to Oct.
1, 2007. The top payment under REAP is currently $880.80 per month. The new law, part of the National
Defense Authorization Act, also expands the period of eligibility for certain Guard and reserve members
who complete their service obligation before separation. Members meeting these criteria may be eligible
to use REAP benefits for a period of 10 years following discharge. To see more, go to: http://www1.va.gov/opa/pressrel/pressrelease.cfm?id=1460
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