U.S. Federal Retirement Thirft Investment Board officials have approved FRTIB’s $219.9 million budget for fiscal 2016, up 6 percent from the year-before funding level, Federal News Radio reported Monday.
Meredith Somers writes the board will allocate a portion of its FY 2016 funds to increase cybersecurity efforts.
The station quoted Kim Weaver, FRTIB director of external affairs, as saying that cyber controls adoption “is something of imminent importance” to the organization.
In 2011, hackers breached contractor-run information technology systems for the federal Thrift Savings Plan and the attack compromised approximately 123,000 TSP accounts, the station reports.
The FRTIB budget also includes funds to help the board prepare for a possible implementation of a bill that would reform the military retirement system by fall 2017, the report said.
Weaver told Federal News Radio that the board sent a Guidance for Choosing Financial Education Vendors to payroll and benefits personnel across the government.