The government-funded U.S. Synthetic Fuels Corp., in political difficulty on Capitol Hill because it has no projects to fund, recently unveiled for its employes a generous savings program that invites workers to set aside up to 6 percent of their salary. Then, for the first nine months, the Synfuels Corp. matches each employee contribution dollar-for-dollar and, later, 50 cents for every dollar.
"When Reagan fired the old Carter board," says a House Environment, Energy and Natural Resources Subcommittee staffer who monitors funding for the Synfuels Corp., "they promised to be lean and mean."
But the Synfuels Corp. has been generous when it comes to its own fringe benefits. If you have to move to work for the corporation, not only your moving expenses but also up to $10,000 of the commission you pay a real estate broker for selling your home is paid by the corporation. An attractive retirement program that requires no pay-in by an employe but provides for a lump-sum pay-out after only a few years was instituted. And the new savings plan is unmatched by any organization that enjoys federal government funding.
"There are rumors that they've just got six months more," says one source familiar with the corporation's compensation packages, "so they'll vote themselves these nice next eggs." All of which so enraged Rep. Toby Moffett (D-Conn.), whose energy subcommittee watches the Synfuels Corp., that two weeks ago he asked for a GAO investigation.