July was a good month for most TSP funds
New data from the Thrift Savings Plan shows only the S and C funds increased month over month by more than 1%.
- Federal employees saw their retirement accounts grow across 14 of 16 funds in the Thrift Savings Plan in July. But the rate of growth for most of the funds was under 1% as compared to June. New data from TSP shows only the S and C funds increased month over month by more than 1%. Only two of the funds, F and I, ended up lower in July than in June, but again only by less than 1%. For the year, every fund is showing positive returns with the I fund leading the way with a return of almost 17%.
- Federal job applicants will see a new message before they hit apply on USA Jobs. All open positions now list expectations from the Trump administration, saying all federal job candidates should be committed to improving efficiency in government. They should also be passionate about American ideals and committed to upholding the law and the Constitution. The new message is part of the Office of Personnel Management’s “merit hiring plan,” issued earlier this year. Many, but not all, USA Jobs listings also now contain additional questionnaire items, asking applicants which of Trump’s executive orders are their favorite, and how they’d help advance the President’s policy priorities.
- Democratic senators last week blasted the Trump administration for what the lawmakers said was billions of dollars in waste, due to recent federal workforce changes. A new report from Senate Democrats showed that nearly $15 billion is going toward paying federal employees not to work, after they opted into the deferred resignation program. In response to the new report, Office of Personnel Management Director Scott Kupor argued that the voluntary separation program will actually save costs in the long run. Kupor has also expressed interest in overhauling the government’s performance management system, which he says is “broken.”
- The National Archives and Records Administration sees progress on the road to fully electronic record keeping. NARA set a July 2024 deadline for managing their permanent records in an electronic format; 71% of agencies reported meeting it. NARA approved some exceptions to that deadline, including for employee medical record folders. NARA also sees agencies making strides with their digital record keeping: 75% of agencies say they have an automated way to manage emails. And 55% are using similar processes for other types of messages.
- Amy Henninger, President Donald Trump’s pick to be the Pentagon’s director of operational test and evaluation said the immediate challenge for the office will be adapting to the changes in the DoD acquisition system that will result from the 2026 defense policy bill acquisition reforms. Henninger told lawmakers that “balancing adequate testing with the desire for rapid development and fielding, while implementing greater use of credible models and simulations, will be crucial.” If confirmed, she would take over an office that Defense Secretary Pete Hegseth cut in half, a move lawmakers have warned puts service members at risk.
- A permanent leader for the General Services Administration is on the horizon. GSA’s run of acting leaders could be coming to an end. On Friday, President Donald Trump nominated Ed Forst, chairman of Lion Capital and a former senior advisor to the secretary of the Treasury Department during the administration of President George W. Bush, to be the agency’s administrator. Forst, if confirmed by the Senate, would come to GSA after spending most of his career in the private sector, specifically in the banking and real estate sectors. He has led investment firm Lion Capital since 2020. Before coming to Lion Capital, Forst spent two years as CEO of Cushman and Wakefield, a commercial real estate firm. He also spent 17 years working at Goldman Sachs. GSA has had two acting administrators so far this year, with the White House moving Michael Rigas into that role late last month.
- The permanent change of station joint task force has launched a 24/7 call center to help service members, civilians and their families with their government moves. The permanent change of station joint task force call center can be reached at 833-MIL-MOVE, by email, or through the task force’s Spotlight webpage. The center offers around-the-clock global support, ensuring service members and their families get help regardless of the time zone they are in. The task force estimates that about 40% of calls will be escalated to the call center.
- The White House is getting a new top cyber official. The Senate on Saturday voted to confirm Sean Cairncross as national cyber director. He will serve as President Trump’s principal advisor on all things cybersecurity. Cairncross served as senior advisor to the White House Chief of Staff during Trump’s first administration. He also led the Millennium Challenge Corporation and worked in top roles at the Republican National Committee. Cairncross will be charged with overseeing the Trump administration’s policy response to Salt Typhoon and other China-connected hacks into U.S. critical infrastructure.
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