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Search Tags: FRTIB
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.
After a two-month delay, all civilian employees at the Defense Department, as well as several other agencies, can now contribute to the recently rolled-out Roth option for their Thrift Savings Plans.
For the second month in a row, performance in all 10 of the Thrift Savings Plan funds posted positive returns, with double-digit gains in many of the funds year-to-date.
Returns for the Thrift Savings Plan continued their steady upward climb last month, with all funds posting in positive territory for the month of August, according to new data from the Federal Retirement Thrift Investment Board.
Kim Weaver, director of the Federal Retirement Thrift Investment Board, told In Depth with Francis Rose feds will soon be able to access videos online explaining some of the more complicated aspects of their Thrift Savings Plan accounts.
On the In Depth show blog, you can listen to the interviews, find more information about the guests on the show each day and links to additional resources.
For people worried about their TSP accounts being hacked, no news is good news. If you didn't get a letter, it means you are one of the 97 percent whose data is safe. For more facts about the hack job, check out Senior Correspondent Mike Causey's column.