Participants in the Thrift Savings Plan will soon see a few changes to the TSP’s Lifecycle, or “L,” Funds. Starting June 30th, the Federal Retirement Thrift Investment Board will add an “L 2075” Fund. That's meant for any current or future federal employees who plan to retire during or after the year 2073. The TSP board will also be rolling over the current “L 2025” Fund into its broader Income Fund. 

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Civilian agencies have spent nearly 23% less during the first eight months of 2025 as compared to the same time period in 2024. The Department of DOGE Services says that means non-defense spending has been reduced by almost $25 billion. Overall non-defense agencies have obligated over $85 billion in 2025 down from $110 billion at this point last year. Some of the spending reduction comes from the cancellation of contracts, which DOGE says agencies have terminated more than 11,000.  

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The Agriculture Department has cancelled hundreds of contracts under the Trump administration … including one that helped households locate food assistance programs. The nonprofit Hunger Free America says it ran an “information clearinghouse” of food assistance programs for USDA for more than a decade. But it claims in a lawsuit that USDA terminated the contract last month. 

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The Postal Service is falling into pattern raising stamp prices each January and July. But its regulator is considering limits to those price increases. A proposed rule from the Postal Regulatory Commission would cap UPSP to only raising prices once per year. The regulator gave USPS the freedom to set mail prices higher than the rate of inflation in 2020 when the agency was at risk of running out of cash. USPS is planning to set the price of a first-class Forever stamp to 78 cents next month.

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A separation health assessment administered to more than 50,000 service members found that about 67 percent of troops screened positive for at least one mental health condition. Post-traumatic stress disorder and depression were among the most common issues identified. A government watchdog found that over 50 percent of service members declined referrals to the DoD’s inTransition program that provides mental health resources during transition periods. DoD officials told the Government Accountability Office that many factors may contribute to the high rate of positive screenings among separating service members, including that many intend to file disability claims.

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More federal employees filed retirement papers with OPM in May than in the last three months. OPM says it received more than 15,000 claims last month, driving the backlog up over 21,000. The processing time for these retirement claims remain consistent at 49 days on average in May and 52 days on average for the entire 2025. The increase in applications comes as OPM is requiring agencies to send retirement paperwork only in digital formats by July 15. OPM launched two new tools this week to improve the retirement services process. One is a new platform for agency HR and payroll providers and another to modernize the Electronic Official Personnel Folder (eOPF) platform.

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The Commerce Department dropped health insurance coverage for some recently fired employees sooner than promised, according to the top Democrat on the House Oversight and Reform Committee. Acting Ranking Member Stephen Lynch says Commerce fired about 800 probationary employees under the Trump administration, and that some of them lost health coverage on April 8, days before they were officially fired. Commerce employees were briefly reinstated under a federal judge’s order. But an appeals court allowed the firings to remain in effect. 

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President Donald Trump’s permanent pick to run the IRS is one step closer to taking office. The Senate Finance Committee advanced the nomination of former Missouri Congressman Billy Long. Democrats on the committee raised concerns that Long promoted tribal tax credits that don’t exist, according to the Treasury Department and IRS. Long told lawmakers that if confirmed he’d help the IRS modernize its legacy IT systems. 

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Every fund but one in the Thrift Savings Plan saw positive returns last month.

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The White House is not requesting an increase in pay for federal employees in fiscal 2026. President Donald Trump released more details of his budget request for next year late Friday afternoon. The appendix section of the budget proposals also includes provisions to continue the pay freeze for certain career Senior Executive Service members and political appointees. In all, the new budget document details more specific discretionary spending requests for each agency. Unlike the "skinny" budget released in early May, the administration did include funding requests for OPM, Education and independent agencies like CFBP.

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