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11:32 am, October 23, 2014

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Search Tags:  Greg Long

Securing TSP operations a 'never-ending battle,' auditor says

The agency that runs federal employees' (401)k-style Thrift Savings Plan needs to do a better job monitoring potential cyber incidents against its website, strengthen security at its data centers and come up with a plan for tracking all of its technology hardware. That's according to recent audits of the TSP program undertaken by the Labor Department, which were presented to the Federal Retirement Thrift Investment Board Monday.

Tags: TSP , Ian Dingwall , DOL , cybersecurity , technology , Jack Moore

Tuesday - 04/29/2014, 10:13am EDT

TSP assets top $400B for first time; L Fund revamp continues

Thanks to a roaring stock market in February, total assets in the Thrift Savings Plan have climbed to the highest level in the plan's history. All told, assets in the TSP exceeded $400 billion at the end of last month. At the Federal Retirement Thrift Investment Board's monthly meeting Thursday, board members heard another recommendation to revamp the Lifecycle Funds.

Tags: pay and benefits , TSP , FRTIB , Renee Wilder , Kim Weaver , L funds , emerging markets

Thursday - 03/20/2014, 03:07pm EDT

House committee OKs bill making TSP's L Funds the default for new hires

New Thrift Savings Plan participants would be automatically enrolled in an age-appropriate Lifecycle Fund -- instead of the G Fund -- under a bill set to be debated Wednesday by the House Oversight and Government Reform Committee. The Smart Savings Act, introduced by the committee's chairman, Rep. Darrell Issa (R-Calif.), is supported by the Federal Retirement Thrift Investment Board.

Tags: TSP , pay and benefits , retirement , House , Darrell Issa , Jack Moore

Tuesday - 03/11/2014, 04:14pm EDT

TSP board considers rebranding Lifecycle Funds

The Federal Retirement Thrift Investment Board is eyeing another potential tweak to the Thrift Savings Plan's Lifecycle Funds their name. Lifecycle Funds, also known as L Funds or target-date funds, are made up of a mix of the five core TSP funds that shifts over time. But board members are concerned the "fund" label may be confusing to TSP participants. In its place, the board is considering changing the name to "Lifecycle strategies."

Tags: TSP , FRTIB , Lifecycle Funds , Renee Wilder , pay and benefits , retirement , Jack Moore

Monday - 02/24/2014, 03:38pm EST

TSP seeks to supplant G Fund in automatic enrollments

Federal employees could soon be seeing a lot less of the G Fund in their Thrift Savings plan accounts. Instead of being automatically enrolled solely in government securities, new plan participants would be shifted to an age-appropriate Lifecycle, or L, Fund as their default investing option under a proposal approved by the Federal Retirement Thrift Investment Board Monday. The proposal ultimately requires action by Congress.

Tags: TSP , pay and benefits , Renee Wilder , automatic enrollment , Kim Weaver , Jack Moore

Monday - 12/16/2013, 03:35pm EST

Under budget deal squeeze, will future feds opt out of TSP?

If the proposed budget deal becomes law, new federal workers will see a total of 10.6 percent of their salaries automatically withheld from their paychecks to cover their retirement benefits. That could lead to them contributing less or not at all to their voluntary Thrift Savings Plan accounts, experts said.

Tags: workforce , pay and benefits , retirement , TSP , David Snell , NARFE , FRTIB , budget , Jack Moore

Wednesday - 12/11/2013, 03:26pm EST

Feds who took TSP withdrawals during shutdown locked out of contributing for next six months

During the 16-day government shutdown last month, more than 14,000 Thrift Savings Plan participants withdrew money from their accounts, the highest number of hardship withdrawals in a single month ever. This may have helped participants weather the financial uncertainty of the shutdown. But, under TSP rules, it also means they'll be unable to contribute to their 401(k)-style retirement accounts for the next six months. Now, the Federal Retirement Thrift Investment Board, which oversees the TSP, is concerned that not all those participants will take the initiative to restart their contributions when the penalty period expires next spring.

Tags: pay and benefits , benefits , TSP , workforce , government shutdown , Michael Kennedy , Renee Wilder , Kim Weaver , hardship withdrawals , Jack Moore

Monday - 11/25/2013, 03:26pm EST

Thousands of feds turned to TSP to weather shutdown

Hardship withdrawals shot up in the first few weeks of October and thousands more employees opted to shift their investments out of higher-risk areas and into the G Fund, TSP officials said at at the board's monthly meeting Monday. During the shutdown, some 8,200 participants requested hardship withdrawals, compared to 5,500 during the same period of time last year.

Tags: government shutdown , TSP , pay and benefits , Veronica Mance , Jack Moore

Monday - 10/28/2013, 05:17pm EDT

Learn more about your TSP

Greg Long, executive director of the Federal Retirement Thrift Investment Board, and Kim Weaver, the TSP's director of External Affairs will answer your calls and emails about the TSP.
October 7, 2013

Tags: pay and benefits , TSP , federal retirement , Kim Weaver , Federal Retirement Thrift Investment Board , F Fund , G Fund , L Fund , S Fund , Bob Leins , Tammy Flanagan , For Your Benefit

Monday - 10/07/2013, 07:43pm EDT
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TSP board OKs budget increase, laying groundwork for overhaul

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.

Tags: TSP , FRTIB , pay and benefits , Jack Moore

Monday - 09/23/2013, 06:27pm EDT
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