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5:51 pm, July 22, 2014

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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 , workforce , government shutdown , Michael Kennedy , Greg Long , Renee Wilder , Kim Weaver , hardship withdrawals , Jack Moore

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

Bill calls for 'socially responsible' TSP fund

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.

Tags: Congress , pay and benefits , retirement , socially responsible investment , Jim Langevin , Sheldon Whitehouse , FRTIB

Friday - 11/22/2013, 05:14pm EST

Winterizing your TSP lifeboat

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.

Tags: Mike Causey , federal report , pay and benefits , retirement ,

Wednesday - 11/06/2013, 02:00am EST

What shutdown? TSP ends October with strong showing

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.

Tags: pay and benefits , Jack Moore

Friday - 11/01/2013, 11:30am EDT

If it's fun, it must be wrong

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?

Tags: Mike Causey , federal report , pay and benefits ,

Thursday - 10/31/2013, 02:00am EDT

TSP investing and more

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

Tags: pay and benefits , CBS MoneyWatch.com , Allan Roth , investment advice , federal retirement , Federal Times , Sean Reilly , budget battle , budget cuts , Mike Causey , Your Turn

Wednesday - 10/30/2013, 07:55pm EDT
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Furlough fever: Sell low, buy high

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?

Tags: Mike Causey , federal report , workforce , government shutdown

Wednesday - 10/30/2013, 02:00am EDT

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 , pay and benefits , Greg Long , Veronica Mance , Jack Moore

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

TSP account averages nudge 6-figure mark

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.

Tags: Mike Causey , pay and benefits , retirement ,

Monday - 10/28/2013, 05:59am EDT

How to prepare for the next government shutdown

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

Tags: pay and benefits , government shutdown , financial planning , Arthur Stein , Sean Reilly , Federal Times , budget battle , Congress , USPS , federal retirement , Mike Causey , Your Turn

Wednesday - 10/23/2013, 06:31pm EDT
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