
June 19, 2009 - 11:10am
TSP officials say the option, which would permit federal-military investors to put after-tax money into the TSP, might not be rolled out until sometime in mid-2011. That's because of the complexity of the changeover to a system that takes in both pre-tax and after-tax monies via payroll deduction, and getting out information to the TSP's 4 million plus investors.
The Roth option means that people can invest up to $16,500 without any restrictions on income.
Currently worth about $213 billion, the TSP is the largest 401(k) type plan in the world. Its investors include current federal and military personnel, and many former or retired feds continue to keep their money in the TSP because of its low administrative fees and the G-fund which is unique to the TSP. The G-fund is invested in special U.S. Treasury securities that have never posted a loss.
While the Roth option is what interests most people, a number of other changes, approved as part of the totally unrelated Tobacco Bill, will take place sooner. Here's the timetable based on our talk yesterday on "Your Turn with Mike Causey" with the TSP's Tom Trabucco (click here to hear the show).
Nearly Useless Factoid
by Suzanne Kubota
According to the Consumerist, the secret ingredient in KFC's new grilled chicken is beef. Mike is not surprised, and hasn't been surprised by anything in his food since he found out Soylent Green is people.
To reach me: mcausey@federalnewsradio.com
Listen in to hear Larry speak with John Kamensky, a senior fellow with the IBM Center for the Business of Government and one of the true thought leaders in government management about the importance of public sector management. Also up for discussion is the need to enhance the numbers and qualifications of the acquisition workforce and recent white papers the Center has done for the Obama Administration.
Acquisition priorities of GSA
2010 acquisition policy update
A different type of schedule contract
Issues facing small business government contractors
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