Del. Eleanor Holmes Norton, D-D.C., has brought back legislation that would create an inspector general for the Federal Retirement Thrift Investment Board, while the Senate Veterans’ Affairs Committee’s ranking member argues the department is too slow in implementing legislation.
Portfolios invested in American businesses weighed down an otherwise positive month for the federal government’s 401(k)-style retirement savings program.
Only two portfolios in the federal government’s 401(k)-style retirement savings program ended last month in the black, ending a three-month run of gains.
A GAO report found that the Federal Retirement Thrift Investment Board did not ensure that acquisition management practices were fully enforced when it modernized the system that oversees its 401(k)-style retirement savings program.