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Search Tags: FRTIB
A new bill would allow federal employees to contribute toward their retirement by investing only in companies deemed socially responsible. The "Federal Employees Responsible Investment Act," introduced this week by Rep. Jim Langevin (D-R.I.) and Sen. Sheldon Whitehouse (D-R.I.), would require the Federal Retirement Thrift Investment Board to add a "Corporate Responsibility Index" to the existing five investment options available to federal employees.
The Federal Retirement Thrift Investment Board kicked off this week a multimillion-dollar plan to revamp the Thrift Savings Plan. The $2.3 million initiative, which was approved by board members last month, calls for TSP officials to broadly survey participants on the services and offerings they desire as well as how the TSP stacks up against other plans, including those in the private sector.
After tanking in August, all the funds in the Thrift Savings Plan bounced back last month, according to data from the Federal Retirement Thrift Investment Board.
Members of the Federal Retirement Thrift Investment Board approved a nearly 18 percent increase in the agency's budget for the coming fiscal year that will help lay the groundwork for a wholesale overhaul of the TSP participant experience, board officials say. The single, new initiative included in the 2014 budget is the first in a series of steps built around redesigning the entire participant experience, the board's executive director, Greg Long told board members.
Updated Thrift Savings Plan regulations would allow the same-sex spouse of a TSP participant to collect death benefits as long as they were married in a state that recognizes same-sex unions, regardless of where they live currently.
Every TSP fund -- with the exception of the ever-reliable government-securities G Fund -- finished last month in negative territory, according to new data from the Federal Retirement Thrift Investment Board.
The Federal Retirement Thrift Investment Board is setting the stage for a major new multiyear initiative to study the needs of Thrift Savings Plan participants and improve its services. The first step in the process will be determining benchmarks for how the board currently operates and communicates with participants, said Kim Weaver, the board's director of external affairs.
The Federal Retirement Thrift Investment Board says offering federal employees an extra loan option through their Thrift Savings Plans to cushion the impact of furloughs would require too much effort to implement and may not help the employees all that much. Several federal-employee unions have lobbied the board to add a second general purpose loan option to help cushion the blow of furloughs. But at a Employee Thrift Advisory Council meeting April 22, the board quashed the idea, citing the complexity surrounding the changes.
Under temporary rules issued by the Federal Retirement Thrift Investment Board, feds can continue to contribute to their Thrift Savings Plan. FRTIB will waive a rule that prevents contributions for six months after taking a hardship withdrawal.
Tom Trabucco, director of external affairs at the Federal Retirement Thrift Investment Board, joined In Depth with Francis Rose to discuss the "three-legged stool" of federal retirement, the ballpark-estimate calculator and how it works.