November 4, 2009

In a hearing on Nov. 3 of the House Oversight and Government Reform subcommittee on the federal workforce, Postal Service and the District of Columbia, legislators examined proposed enhancements to the Thrift Savings Plan (TSP).

Adding a Mutual Fund Option to the TSP

GovExec.com reports "lawmakers and union representatives...questioned the proposed mutual fund window for the Thrift Savings Plan, claiming it could subject participants to unnecessary risk." Click here to read the full story.

Allowing Federal Employees to Deposit Unused Vacation and Sick Leave to the TSP

FederalTimes.com reports "legislators are considering allowing federal employees to deposit the cash value of their unused sick leave and vacation time into their Thrift Savings Plan accounts."  Click here to read the full story.

The National Treasury Employees Union (NTEU) supports the idea of allowing federal employees with unused annual leave when they separate from federal service to deposit that money in their federal Thrift Savings Plan (TSP) accounts.

"Many of our members carry over the maximum amount of annual leave (240 hours) on a yearly basis, so this could significantly boost their TSP accounts," NTEU President Colleen M. Kelley told attendees at the hearing.