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Search Tags: TSP
Did you bail out of the stock market prior to or during the shutdown? If so, have you looked at the TSP numbers lately? If not, maybe you should, Senior Correspondent Mike Causey says.
Fears that the two-week government shutdown and the threat of a catastrophic default on the national debt would roil the stock market and shrink federal employees' retirement accounts turned out to be unfounded. For the second month in a row, all the funds in the TSP posted in positive territory, according to data released Friday by the Federal Retirement Thrift Investment Board.
If it feels good, it must be bad. However if you ignore it, you may be on the right track, Senior Correspondent Mike Causey says. So are we talking about your TSP account or your love life?
CBS MoneyWatch columnist Allan Roth will share investment strategies for the TSP, and Federal Times senior writer Sean Reilly will discuss what's ahead for federal workers and retirees.
October 30, 2013
If you are a federal worker, did you raid your retirement fund, or sell low and buy high during the government shutdown? Senior Correspondent Mike Causey wants to know: Was it prudent or panic behavior to flee the stock market before and during the 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.
When it comes to investing and saving for retirement, federal workers are at the head of the class. TSP average balances are fast-approaching the 6-figure mark.
Financial planner Arthur Stein will discuss what you can do to protect your assets in the event of another government shutdown, and Sean Reilly will talk about the possibility of another shutdown, and what's ahead for feds.
October 23, 2013
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.
Tammy Flanagan, Karen Schaeffer, and Bob Leins discuss what furloughed federal workers should be doing to protect their financial assets.
October 14, 2013