Hello everyone! I just wanted to share with you the TSP returns for June, with their year to date and their 12 month views as well. As you can see, things are in the black again, but some funds are growing much faster than others. G Fund F Fund C Fund S Fund I Fund Month 0.19% 0.14% 2.07% 4.45% 0.99% YTD 1.17% 4.37% 7.18% 6.21% 5.06% 12 Month 2.30% 5.00% 24.71% 26.95% 23.97% L Income L 2020 L 2030 L 2040 L 2050 Month 0.58% 1.19% 1.52% 1.77% 1.96% YTD 2.46% 4.14% 4.91% 5.43% 5.89% 12 Month 6.74% 13.99%…
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The Thrift Savings Plan’s new Roth option opened up to civilian Defense Department employees today, the Air Force said. Defense civilians can now elect to contribute all or parts of their TSP savings to the Roth option on an after-tax basis. The Air Force said that elections made on or before June 30 will be effective July 1, and will be reflected on employees’ July 20 leave and earnings statement. Under the Roth option, participants pay taxes when they make contributions into the TSP. Those contributions then grow over time, and are not taxed when they are withdrawn years later.…
Did you get a letter this week informing you that your Social Security number and other personal information was stolen in last July’s hacking of a Thrift Savings Plan data center? If so, Federal Times would like to speak to you. E-mail me at slosey@federaltimes.com if you’d like to talk. If you’d prefer to speak anonymously, that’s fine.
Sen. Daniel Akaka, D-Hawaii, today introduced a bill that would automatically increase the Thrift Savings Plan contributions of some new federal employees. The Save More Tomorrow Act would only apply to automatically-enrolled feds — that is, new employees who make no choice on TSP and are automatically enrolled in the G Fund at 3 percent — and would boost their contributions by 1 percent each year. Akaka’s office said this would help push more feds to invest 5 percent of their paychecks in their TSP. That’s the amount federal employees have to contribute to get the maximum matching contribution from…
The Thrift Savings Plan’s long-awaited website overhaul went up over the weekend and is now online here. The site offers more interactivity, a cleaner interface, and easy-to-find information on life events, retirement planning, managing contributions, and researching various funds. “Our goal is to provide you with better, faster and easier access to the information you need to make the best decisions for your TSP account,” executive director Greg Long said in a message posted online. Even the folks on the TSP Talk message board are giving the update a thumbs up, and they don’t cut the Federal Retirement Thrift Investment…
The White House last night announced its intention to nominate two new members to the Federal Retirement Thrift Investment Board, which oversees the Thrift Savings Plan: Dana Bilyeu will replace current board member Thomas Fink. Bilyeu has been executive officer of Nevada’s Public Employees’ Retirement System for more than six years, where she oversees plan funding analysis, investment oversight, operational and strategic planning, and other fiduciary and governance issues. She also is currently a member of the Social Security Advisory Board. Michael Kennedy will replace current board member Gordon Whiting. Kennedy, a former investment manager, is now a senior client partner…
One of the changes accompanying the major Thrift Savings Plan overhaul Congress passed earlier this year granted the surviving spouses of deceased federal employees the right to keep those employees’ TSP accounts. (Widows and widowers previously had to liquidate those accounts within 60 days of the death of a spouse.) But the board governing the Thrift Savings Plan won’t be finished setting up a system to do this until 2010. And the Office of Personnel Management just released a statement outlining the TSP’s interim procedures that will be in place until the system is finalized next year. Here’s how it will…
In the video game world, your Web site is ‘Pong.'” — Rep. Stephen Lynch, D-Mass., told Greg Long, executive director of the Federal Retirement Thrift Investment Board, at a Nov. 3 hearing in reference to the state of the TSP’s Web site, comparing it to one of the first arcade games. The board is working to make its Web site more user friendly and improve the information available, Long told members of the House Oversight and Government Reform Committee’s subcommitee on the federal workforce, postal service and the District of Columbia.
Another day, another drop in the Dow. The Dow had another heart-stopping day today, losing more than 500 points as of 4 p.m. And if you’ve looked at your TSP account lately, you might be having panic attacks and be contemplating drastic changes to your fund allocations. That’s exactly what Federal Retirement Thrift Investment Board members and staff are hoping you won’t do. “This is not the time to sell low when you bought high,” said member Alejandro Sanchez at Monday’s board meeting. The board urged participants to hang in there, saying market history proves short-term losses are just a…