April was another good month for the Thrift Savings Plan. How good? Kim Weaver is the Director of External Affairs at the Federal Retirement Thrift Investment Board.
She told Chris Dorobek on the DorobekINSIDER program that every single fund was up in April.
- The L-Fund is made up of the 5 basica funds the G, F, C, S and I. Our investment people put together a portfolio based on the five basic funds and the risk of that change overtime. The L-Income fund assumes you are taking money out of the TSP right now. The L-Income is the most conservative. The L-Funds go out to the L-2050 fund for people who don’t plan to retire until then. The funds adjust to become more conservative overtime.
Employee Thrift Advisory Council
- The council is made up of unions and interest groups who represent the feds in the TSP. The council meets yearly with the Board to discuss major trends and issues. On the docket this year was a measure to change the automatic enrollment process. Right now when you are hired you can decide which funds to invest in. But if you don’t choose you are automatically enrolled in the conservative G-Fund at a 3% contribution level. The board is exploring changing automatic enrollment to the L-Fund. The Council weighed in with some of their concerns. The move is a long way off, if it were to be considered it would have to be amended by Congress, said Weaver.
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