Federal Daily - June 3, 2009

TSP Monthly Returns for May 2009

Rates of Return were updated on June 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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Berry Offers Reassurances on Pay System Reforms, NFFE Says

Office of Personnel Management (OPM) Director John Berry has promised to work with labor unions as OPM attempts to reform the federal pay system, National Federation of Federal Employees (NFFE) President Richard Brown said June 1. Brown said he called the OPM chief on Friday after Berry told reporters last week that OPM planned to institute changes to the General Schedule (GS) pay system, including a shift to pay for performance throughout government. Brown said his call was to remind Berry that NFFE opposed attempts under the previous administration to institute so-called pay for performance plans that lacked fairness, transparency and objectivity. In the call, Brown said that Berry emphasized the need for all parties to work together to shape a new performance appraisal system—and that the effort would not be a unilateral move by OPM. According to Brown, Berry said he wanted to design a pay system that that makes good sense to employees, managers and the public. In doing so, Berry promised to work alongside NFFE and other unions as the reforms take shape, Brown said. “Director Berry assured me that this is not an attempt by OPM to repackage what we feel are ill-conceived Bush-era pay schemes,” said Brown. “While merit pay flexibility to reward high performers may be a component of a new (GS) pay system, we do not expect to see proposals that even closely resemble the so-called pay for performance plans put forward under the previous administration.” To see more, go to: www.nffe.org/ht/display/ReleaseDetails/i/10088.

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NTEU Charters New Texas TSA Chapter

Transportation Security Administration (TSA) employees at the Austin-Bergstrom International Airport in Texas voted to form a National Treasury Employees Union (NTEU) chapter, the union said in a May 29 announcement. It is the fourth such NTEU TSA chapter in the state. The vote came as part of NTEU’s organizing efforts at major airports in Texas and across the country. The union noted that while TSA employees do not now have the right to collective bargaining, all chapters operate with local staff attorneys and labor relations experts to represent Transportation Security Officers (TSO) on workplace issues such as promotions, disciplinary actions and scheduling. “Securing full collective bargaining rights for TSOs and giving these dedicated employees a powerful voice in their everyday work lives is our top priority,” NTEU President Colleen Kelley said. Recently, Kelley met with Department of Homeland Security Secretary Janet Napolitano to discuss the collective bargaining rights and other workplace issues at TSA. Bills pending in Congress also would establish collective bargaining rights for TSA employees. “With the support of Congress and a new administration, we now have the opportunity to improve TSA in ways that benefit the workforce and the security of country itself,” said Kelley. To see more, go to: www.nteu.org/PressKits/PressRelease/PressRelease.aspx?ID=1437.

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