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Search Tags: Greg Long
While auto enrollment for new hires has increased participation in the Thrift Savings Plan over the last few years, a recent report suggests many of them are staying in the super-safe G Fund — instead of reallocating money into other funds.
On the Federal Drive show blog, you can listen to our interviews, find more information about the guests on the show each day, as well as links to other stories and resources we discuss.
Bob Leins and Tammy Flanagan host a round table discussion of the Thrift Savings Plan and what's ahead for the TSP this year.
January 7, 2013
Tags: pay and benefits , retirement , Thrift Savings Plan , Federal Retirement Thrift Investment Board , Kim Weaver , Laurissa Stokes , Roth TSP , G Fund , Bob Leins , Tammy Flanagan , For Your Benefit
A sophisticated cyber attack against the Thrift Savings Plan contractor responsible for maintaining the agency's data centers compromised the information of 123,000 TSP participants. However, there is no indication the data has been misused, according to the Federal Retirement Thrift Investment Board. There is also no indication that the TSP's network or its website were affected.
The contract includes "very stringent" IT security requirements. The announcement follows a data breach that affected 123,000 TSP participants in 2011.
One senator is questioning why it took nine months for the Thrift Savings Plan board to find out about a sophisticated cyber attack that compromised 123,000 TSP participants' accounts. Sen. Susan Collins (R-Maine) also wants to know why Congress wasn't informed of the breach until more than a month after it was reported to the board.
Portions of last week's interview with TSP Executive Director Greg Long about the TSP hack attack will be re-aired this week. Also, Steve Watkins and Sean Reilly from the Federal Times join host Mike Causey to talk about the status of legislation pending in Congress that affects federal workers.
June 20, 2012
For people worried about their TSP accounts being hacked, no news is good news. If you didn't get a letter, it means you are one of the 97 percent whose data is safe. For more facts about the hack job, check out Senior Correspondent Mike Causey's column.
It's been nearly three weeks since the Thrift Savings Plan board announced a data breach of 123,000 Thrift Savings Plan, and since then, the board has been fielding questions from participants, Congress and the media. TSP's executive director answered some of the most frequently asked questions about the breach.
The cover up, as they say, is almost always worse than the crime itself. The rule of thumb, from the Watergate era, is follow the money, although people rarely do that. Following the money can be tricky. Also complicated. Especially in the computer age with multi- national players, Senior Correspondent Mike Causey says.