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Even after retirement, TSP planning focuses on long-term
Monday - 2/27/2012, 7:38pm EST
Deciding when to retire means many loose ends to tie up — and one of those is your Thrift Savings Plan account.
Tom Trabucco, the director of external affairs at the Federal Retirement Thrift Investment Board, which oversees federal employees' TSP accounts, joined In Depth with Francis Rose to discuss some tips.
Trabucco who has made numerous appearances on Federal News Radio over the past few years is soon to be a personal expert in retirement. He will retire Wednesday after 25 years at the agency.
Trabucco said his plan as he heads into retirement is the same he held before: a focus on the long-term.
"The investment decisions that you made yesterday — when you were not in a tizzy because the market was going crazy or because you were getting ready to retire — are just as sound today as they were yesterday," Trabucco said in his last appearance on In Depth. "And remember this is a long-term plan, so that's how you make your decisions."
Trabucco's "fund-of-choice" is the L Fund, one of five lifecycle funds made up of a mix of the five traditional funds and is designed to balance risk as employees approach a targeted date.
The L Funds, which were launched five years ago, are making inroads. At a TSP board meeting Monday, Trabucco said, new numbers show that 20 percent of participants under the Federal Employees Retirement System have at least some of their investment in an L Fund.
But even with the departure of Trabucco — along with another TSP stalwart, Penny Moran, the director of participant services — Trabucco said he's not worried about things falling apart any time soon. He cited a "rock-solid" board and "terrific career staff that are very well seasoned" that remain at the agency.