Accidental TSP Contributions Above the $19.5K Limit and Finance Friday Articles
It was announced earlier this year that TSP contributions in 2021 will not automatically stop at $19,500. I posted this on MCCareer.org in July, and here is the original article that post points to:
Word from a senior officer who over contributed already and contacted TSP is that they will fix this issue automatically if you over contribute. Here is what they said:
“Currently the pay system is not designed to stop at 19,500.00. Anything over the limit, if you are under 50, partially rejects at TSP. TSP will only accept up the 19,500.00 limit. We send out the voucher for November TSP tomorrow. Once we get feedback from TSP, we will begin correcting the accounts, and crediting back the amount over the limit. This is all a new change this year due to TSP implementing Spillover. We are currently working on a process to stop the accounts that are not eligible for Spillover at the 19,500.00 limit.”
Here are the articles:
- COULD CHINA’S MASSIVE PUBLIC DEBT TORPEDO THE GLOBAL ECONOMY?
- Discounts for Healthcare Workers in 2021
- Invest, Don’t Bet
- Investing Lessons Learned from Fantasy Football
- No Called Strikes in This Business
- Read Before Selling Stocks Due to the Omicron Variant
- Take Advantage of These 5 Year-End Tax Tips
- The Massive PSLF Overhaul: What You Need to Know
- What’s a Safe Retirement Spending Rate for the Decades Ahead?
- You Don’t Need to Sacrifice Your Life to Become a Physician
New Fitrep Instruction
This NAVADMIN announces the new fitrep instruction and talks about the transition from NAVFIT98 to the new eNAVFIT system. Reading the NAVADMIN, it will take some time to see how the changes play out. Reportedly the eNAVFIT will hit the Reserves this month, but Active Duty in “early 2022.” As of when I’m typing this on 1 DEC 2021, the updated instruction isn’t posted on the website referenced (or at least it isn’t easy to find). A Google search did not locate it either.
Here is an info sheet about eNAVFIT:
I did note this section of the NAVADMIN that seems to be most relevant to those writing fitreps using an N code for a PFA:
f. Incorporates changes clarifying the use and what can be included in
the comments section for the *N* code, Block 20, Physical Fitness Assessment
Code, for pregnant service members.
(1) If using the *N* code because of pregnancy, no directed comment
should be used in the performance comment section.
(2) Do not quote from medical reports or summaries and do not include
comments pertaining to medical issues (physical and/or psychological, e.g.
pregnancy, post-partum, etc.) that do not affect the members performance of
duties and/or his or her effectiveness as a leader.
There will be more to follow on this, I’m sure.
November NMFDC Newsletter
On behalf of the Naval MEdical Force Development Center (NMFDC), please see the attached NOV 2021 NMFDC Newsletter.
This month’s newsletter includes answers to frequently asked questions, the NMFDC’s goals for fiscal year 2022, information on how to schedule a virtual site visit with the NMFDC, and an interview with CDR Pete Bradford on potential improvements and current challenges surrounding platform readiness.
Please feel free to share this newsletter with other relevant Navy Medicine stakeholders and those interested in the NMFDC’s efforts.
We hope you and your families have a wonderful Thanksgiving!
Very Respectfully,
The Naval Medical Force Development Center
NAVADMIN With Delayed O4/O5 Promotions Released
The delayed O4 and O5 promotions are on this message that was just released:
Talent Management Task Force and eNAVFIT NAVADMIN
If you want the latest on the new fitrep system (to hit Active Duty early in 2022), read this NAVADMIN:
UNCLASSIFIED//
ROUTINE
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NAVADMIN 267/21
PASS TO OFFICE CODES:
FM CNO WASHINGTON DC//N1//
INFO CNO WASHINGTON DC//N1//
MSGID/GENADMIN/CNO WASHINGTON DC/N1/NOV//
SUBJ/TALENT MANAGEMENT TASK FORCE AND ENAVFIT//
RMKS/1. Dominance of the maritime domain requires innovation and forward
thinking. With investments in platforms, weapons and technologies to meet
evolving operational conditions, it is imperative that we invest in our most
essential warfighting asset, our people. Talent management and modern
development approaches are required to attract, develop, train and retain the
best and fully qualified Sailors in our Navy.
2. To meet this challenge Navy Personnel Command (NPC) has established the
Talent Management Task Force (TMTF) to launch a series of Performance
Evaluation Transformation and Talent Management (PET-TM) programs and
initiatives. The TMTF is divided into four talent management lines of
operation: Talent Development and Retention, Performance Management,
Succession Planning and Career Development and Management. The TMTF end
state is to ensure effective Sailor development that retains the best and
fully qualified Sailors, in the right assignments, to maximize the
warfighting effectiveness of the Navy.
3. TMTF is working on five key PET-TM programs and initiatives briefly
described below, which will be implemented in the coming months and years.
a. eNavFit. As a replacement to NAVFIT98A, this online and offline web-
enabled performance appraisal interface will be available for both connected
and disconnected operations. Access will be through BUPERS Online (BOL) and
NPC document services to support online evaluation and fitness report
drafting, routing, review and submission. eNavFit will further serve as a
bridge toward the larger long-term goal of a fully transformed performance
evaluation system concurrent with the fielding of Navy Personnel and Pay
System (NP2) full operational capability. Leveraging TMTF collaboration with
Fleet and TYCOMs, follow-on studies are in progress at Naval Postgraduate
School to ensure future changes to the performance evaluation system are
directly related to job performance. Additionally, TMTF will study various
attributes of an evaluation to include duration of reports, numerical grades,
promotion recommendations and distinct rankings/breakouts.
b. Update to BUPERSINST 1610.10F, Navy Performance Evaluation
System. An update to BUPERSINST 1610.10F incorporates the inclusion of
eNavFit, rescinds administrative change requests to be submitted within two
years of the performance evaluation end date, introduces the use of coaching
skills to performance counseling conversations and mandates the completion of
mid-term performance counseling.
c. Mid-term performance counseling. The initiative clarifies the
requirement to conduct timely mid-term performance counseling, provides
training, encourages the use of coaching behaviors and introduces the
Military Individual Development Plan (NAVPERS 1610/19) and Mid-term
Performance Counseling Checklist (NAVPERS 1610/20).
d. MyNavy Coaching. MyNavy Coaching is an initiative to build and
sustain a coaching culture within the Navy. MyNavy Coaching is focused on
active listening, empathy and asking powerful questions for Sailors to engage
in peer-to-peer coaching conversations.
e. Navy Command Leadership Assessment and Selection Program
(NCLASP). NCLASP is an effort to create a more effective process to select
future Navy leaders by including psychological assessments, cognitive
aptitude tests, communication skills, and personality attributes known to be
associated with effective leadership into the leadership selection
process. To date, Navy Expeditionary Combat Command, Naval Special Warfare
and Naval Submarine Force communities have participated in NCLASP pilots to
select future leaders. Lessons learned from these pilots will pave the way
for a comprehensive roll out across other communities with a program tailored
to the unique needs of each TYCOM while maintaining the gold standards of
personnel selection science.
4. eNavFit will be the first PET-TM initiative to be released.
eNavFit consolidates the functionality of NAVFIT98A into a web-enabled
performance evaluation. Sailors will be able to draft, electronically submit
and sign performance evaluations for submission to the Sailors official
military personnel file in a matter of days. The functionality of eNavFit
will improve report accuracy, timeliness and quality as well as reduce
evaluation processing, submission errors and routing delays. NPC will deploy
eNavFit to the Reserve Component in December 2021 and deploy to the Active
Component in early 2022. BUPERSINST 1610.10F will be released soon and will
include policy for eNavFit.
5. eNavFit has been designed for the following operational conditions.
a. Connected operations. For Sailors in a standard office environment
with regular internet connectivity.
b. Connected and disconnected operations. For Sailors or commands that
are underway or have limited internet connectivity. Sailors will be able to
work offline and periodically upload and submit completed reports via BOL
when connectivity is available.
c. Disconnected operations. For commands entirely offline with legacy
ability to print, wet sign and mail completed reports to NPC.
6. Performance evaluation training materials, an eNavFit user guide and
quick reference cards can be found via the NPC website at
https://www.mynavyhr.navy.mil/Career-Management/Performance-Evaluation/
7. For questions concerning any of these PET-TM programs and initiatives,
contact the MyNavy Career Center (MNCC) at (833) 833- MNCC or via e-mail at
askmncc(at)navy.mil.
8. This NAVADMIN will remain in effect until superseded or canceled,
whichever occurs first.
9. Released by Vice Admiral John B. Nowell, Jr, N1.//
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#0001
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UNCLASSIFIED//
Great Summary of How DoD is Funded
If you are curious how the US funds its defense, check out this brief summary from the Congressional Research Service:
Joel Schofer's Career Planning Blog 