Weak, Repetitive Passwords a Common Problem in Government, Says Report

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Use of weak and/or repetitive passwords is a common problem in government, according to a report by a cybersecurity firm that is the latest caution about vulnerabilities in that line of defense against hacking.

The report by the Ivanti firm, based on survey data, shows that U.S. federal employees are generally more alert to cyber risks than government employees of other countries. For example, only 19 percent agreed their own actions do not impact their organization’s safety, compared with 34 percent worldwide, and only 22 percent said their organization does not provide mandatory cybersecurity training, compared with 39 percent.

The report cautioned, though, that “When employees find a security measure inefficient or burdensome, they’ll find a way around it that is decidedly not secure.” Passwords “are ground zero” for such workarounds, it says, as employees continue to use “pet names, birthdays and the universally favorite unbreakable code: 12345.” Click HERE to read more.

 

Don’t Miss These Three Federal Retirement Lessons from… Football?

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These are three important lessons federal employees should learn about saving in the TSP to help plan for a successful retirement.

In my life, I have been blessed to be a part of three great, meaningful endeavors. They are, in order: my family, my career serving Feds, and playing college football. In my work every day with career Feds, I am struck by parallels between planning for a great federal retirement and what I learned from my college coaches.

With that in mind, and since we are at the end of college and pro football seasons, I thought it might be fun to share them. So here is the list and then I will expand upon each.

  1. A great gameplan does not need perfect players.
  2. Discipline in the face of adversity pays off.
  3. Additional investment makes a big difference.

A great gameplan does not need perfect players.

One of the big mistakes I see in retirement planning for Feds is when someone is obsessing about products versus having a plan.

What do I mean?

Well, I really do wish I had a nickel for every time I’ve heard a Fed say, “I have all my money in ___________ fund because it’s the best.” That is the equivalent of a head coach deciding that only one player will touch the ball in the game. No single fund (or outside financial product) can be “the answer.”

You need to take some time with this. You must learn and understand your tolerance for risk, then you will want to set up the correct mix of funds (a percentage in each of the 5 core funds) in your TSP and stay with that mix. You will only make adjustments to that mix to bring it back into balance.

There is no academic data to support that jumping from fund to fund leads to long-term success. Know your tolerance. Set up your allocation. Stick with it and rebalance even if the market seems scary. Click HERE to read more.

 

It’s Not 2008, But People Worry About Savings and Investments

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To answer a couple of readers’ questions: No, your Thrift Savings Plan accounts are not insured. Neither by the Federal Deposit Insurance Corporation nor anyone else. Maybe the G Fund. It consists of U.S. Treasury bonds, so they’re backed by the faith and credit of the government.

TSP plan holders surely know the importance of that faith-and-credit fact given that at this moment, Treasury is vacuuming those G-Funds balances into the extraordinary measures, by which the government is paying its bills. Borrowing from debt until it gets authority from Congress is issue new debt.

Therefore, the questions about TSP insurance suggest a certain level of anxiety about savings and investments. There’s also the ongoing question of future Social Security Old Age, Survivors and Disability Insurance funds’ solvency. The latest bank fiasco only compounds the anxiety. In the back of many minds lies the question, can the government stay on this course forever? I only quote the Government Accountability Office, which regularly states that the fiscal course is unsustainable.

The Silicon Valley Bank deal is nowhere near the size of the 2008-2009 financial crisis and its oceanic flood of toxic assets. Yet it’s also wrapped up in politics, moving rules, and bets on gyrating fiscal and monetary policy. At the least, maybe regular people in and out of government will stop citing “silicon valley” as some sort of lofty ideal. Between Theranos and the Silicon Valley Bank story, the Valley seems as much about hucksterism, inbreeding, self-dealing and working the political connections as about innovation. Why, just yesterday, one former Theranos executive reported for duty — to the Terminal Island Federal Correctional Institution at San Pedro, California. How did that lyric go? He “caught the last train for the Coast…” Click HERE to read more.

 

OPM Retirement Backlog Slashed by Over 5% in February

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Fewer incoming retirement claims than in past years and faster processing times helped slash the OPM retirement backlog in February 2023.

The OPM retirement backlog dropped by nearly 5.5% last month, going from 24,858 at the end of January to 23,500 at the end of February 2023.

The Office of Personnel Management also dramatically improved processing times in February, taking only 65 days on average to process retirement claims. In January, the figure was 93 days, so this is an improvement of 30%.

OPM received 9,562 new retirement claims last month, 23% fewer than in January (12,404). It processed 10,920 claims in February, thereby allowing OPM to cut the backlog down to 23,500, a reduction of 1,358 claims over January.

Despite last month’s progress on the OPM retirement backlog, it still remains at a higher level than it has been in past years and is well above OPM’s stated goal of 13,000. In 2020 for instance, the backlog got down to 17,432 in June, and in June 2017 it was 14,530.

February is normally the second busiest month of the year for incoming retirement claims at the Office of Personnel Management, second only to January. However, February 2023 turned out to be less busy than in some past years in terms of incoming retirement claims. The table below shows how February 2023 compares to past years. Click HERE to read more.

 

FACT SHEET: President Biden’s Budget Improves Customer Experience and Service Delivery for the American People

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During his first year in office, President Biden signed an Executive Order directing a whole-of-government effort to design and deliver an equitable, effective, and accountable Government that delivers results for all Americans. Since then, more than 17 Federal agencies, through 35 High Impact Service Providers (HISPs), have taken actions to deliver customer experiences that are more simple, seamless, and secure. The President’s Budget builds on this work by proposing more than $500 million to modernize services, reduce administrative burdens, pilot new online tools and technologies, and improve agency capacity to improve service delivery. By centering the customer’s experience with Federal services, these investments bring value to Americans’ everyday interactions with the Federal government.

Specifically, the President’s Budget:

MODERNIZES SERVICE DELIVERY IN KEY AREAS

  • Improves the airport security experience. The Budget includes $2.7 million for TSA to pilot a Customer Experience Manager model at four airports focused on streamlining passenger screening, easy-to-understand signage, and better collection and review of customer feedback.
  • Modernizes Federal retirement services. The Budget includes $6.6 million for the Office of Personnel Management (OPM) to help reduce processing times and improve customer satisfaction, expand a pilot for online retirement application, and begin to fund additional IT modernization initiatives akin to a case management system. Click HERE to read more.