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Some good news for the TSP
Tuesday - 3/24/2009, 5:12pm EDT
Turns out, amid the troubling economic news, a glimmer of sunshine for members of the federal Thrift Savings Plan, the retirement plan for federal employees.
Q: What's the good news?
A: For months we've watched the arrows pointing down across the board. But, the GOOD news from the TSP is that March is shaping up to be the best month in nine years for the S&P 500. Tom Trabucco, Director of External Affairs for the Thrift Savings Plan, tells FederalNewsRadio that if we stay on the same pace, this could be the biggest month in the S&P 500 in nine years. For TSP participants, that means a good month for anyone in the C-fund. The past two weeks have ended on a positive note, and it is the first time that's happened since May of last year.
Q: Are people shifting a lot of money around?
A: Over the past few months, a lot of people have moved their money into the G-fund, it is very stable and the safest bet, but most participants are holding steady. There is not a lot of inter-fund trading going on right now which turns out to be good news for anyone who stayed in the C fund. They are now seeing some of that money come back.
Q: How are the other funds doing?
A: While the G fund never has a bad day, and the C fund is bouncing back - the other funds still have down arrows or are flat, and those who have moved their money into the G-fund now might be unhappy about it since the C-fund is starting to bounce back.
(Copyright 2009 by FederalNewsRadio.com. All Rights Reserved.)