Monthly Archives: December 2012
Another year, another $1.3 trillion in debt. The Secretary of the Treasury informed Congress by letter today that the U.S. will reach its statutory $16.394 trillion debt limit on December 31. The letter indicated that one of the four options available to postpone default on U.S. obligations pending Congressional action is the suspension of payments to the G Fund: “Once the debt limit has been reached, Treasury may also suspend the daily reinvestment of the Treasury securities held by the … moreComments Off on Debt Ceilings and the G Fund
In perhaps the most underwhelming news of the month, it was recently announced that BlackRock would continue to manage the Fixed Income Index Investment Fund – the F Fund. (Management of the fund was recompeted this summer.) BlackRock won a one-year contract with four one-year options for renewal. BlackRock had managed the fund since it acquired Barclay’s Global Investors – the former manager of the fund – in 2009. This likely bodes well for BlackRock in continuing to manage the … more2 Comments
In an unusual move, the Federal Retirement Thrift Investment Board (FRTIB) held a closed-door session today. There was just one topic on the agenda: personnel. Closed-door sessions in and of themselves are not unusual. Most, if not all, monthly FRTIB meetings end after holding closed-door sessions. But the closed-door sessions always follow lengthy meetings on TSP-related issues that are open to the public. What’s more, there is another meeting scheduled for December 17th, next Monday. Item #2 on the agenda … moreComments Off on New Leadership At TSP?
The Combined Federal Campaign (CFC) is quickly drawing to a close. While the CFC and various government agencies have in previous years extended the timeframe to contribute, this year the CFC will officially end on December 15th, in one week. Here are a few Web sites to review for those in the “National Capital Area” (the DC region) and abroad. Many other sites for local CFC chapters are available on the internet. In addition to giving through local chapter fund … moreComments Off on One Week Left to Contribute Via CFC
Reading through the TSP’s budget plan for FY2013, I came across the following interesting “mission critical” “initiative” on the part of TSP administrators: “We intend to modify existing Data Center and Infrastructure Support contracts to increase the scope of work, to include the creation of a security and network operations team with the capability to detect, track and react to threats to our security and network operations…Further, we intend to award an independent support contract for the Chief Information Security … more1 Comment