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Search Tags: government shutdown
During the 16-day government shutdown last month, more than 14,000 Thrift Savings Plan participants withdrew money from their accounts, the highest number of hardship withdrawals in a single month ever. This may have helped participants weather the financial uncertainty of the shutdown. But, under TSP rules, it also means they'll be unable to contribute to their 401(k)-style retirement accounts for the next six months. Now, the Federal Retirement Thrift Investment Board, which oversees the TSP, is concerned that not all those participants will take the initiative to restart their contributions when the penalty period expires next spring.
The 16-day government shutdown forced federal employees to miss millions of days of work, agencies to forego millions of dollars in revenue and programs to grind to a halt. In a new report, the Office of Management and Budget estimates that federal workers missed 6.6 million days of work and the shutdown cost more than $2.5 billion in pay and benefits for employees, most of whom didn't work.
Inside the Reporter's Notebook: OMB adds clarity to new cyber policy; Cyber risks during shutdown overstated; OASIS delayed indefinitely
The White House is finalizing its first major cybersecurity policy in more than three years.
Tags: technology , cybersecurity , OMB , Sylvia Burwell , continuous monitoring , GSA , OASIS , contracting , James Clapper , ODNI , Keith Alexander , DoD , security clearances , Greg Elin , FCC , James Cochrane , USPS , Ellis Burgoyne , chief data officer , Inside the Reporters Notebook , Jason Miller
Did the 16-day-for-some furlough ruin your year or was it a welcome suprise vacation? It is getting mixed reviews from feds who had to work and those who were forced -- then paid -- to stay home, Senior Correspondent Mike Causey says.
If you are a federal worker, did you raid your retirement fund, or sell low and buy high during the government shutdown? Senior Correspondent Mike Causey wants to know: Was it prudent or panic behavior to flee the stock market before and during the shutdown?
For many feds, the shutdown seemed like a bad dream. Among its unintended consequences: It created two classes of federal workers in the same office -- the excepted vs. the expendables, Senior Correspondent Mike Causey says. So are those forced to work due a little something extra?
Hardship withdrawals shot up in the first few weeks of October and thousands more employees opted to shift their investments out of higher-risk areas and into the G Fund, TSP officials said at at the board's monthly meeting Monday. During the shutdown, some 8,200 participants requested hardship withdrawals, compared to 5,500 during the same period of time last year.
Virtually every one of DoD's acquisition programs took a hit from sequestration in the first year of sequestration, officials from each of the military services told lawmakers this week. But the next few years of the 10-year spending restrictions could be much more painful, especially if Congress doesn't return to the process of enacting regular appropriations bills.
On this week's Capital Impact show, Bloomberg Government analysts will examine the impact of the 340B Drug program on so-called "safety-net" hospitals, and how the government shutdown has affected the economy.
October 24, 2013
Tags: acquisition , contracting , Affordable Care Act , 340B program , safety net hospitals , economy , Allen Scott , Brian Rye , Nela Richardson , Janet Yellen , Federal Reserve , Bloomberg Government , Capital Impact
Key politicians from both parties have said never again will there be a government shutdown like the farce of 2013, Senior Correspondent Mike Causey reports. So if it is safe to write the shutdown's obituary, where would you start?