1:58 am, May 25, 2015

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  • 3

  • How the debt crisis would affect federal employees' TSP account
    It's comforting to know that the government is required to eventually pay the accrued interest on the bonds. With a default the interest rates would probably increase significantly. However, wouldn't the share value of the G fund and other funds invested in government bonds drop substantially? If so, I'm not convinced that there would be significant pain, especially for those employees planning to make withdrawals from the TSP in the near future.
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  • How the debt crisis affects me, the Federal employee...
    ...is by reducing my confidence in the TSP as a savings vehicle either now or in the future. This plan should be sacrosanct but it's not, since the G Fund 'interest' is being used to pay the governments bills! I am (or was) a soon to be retired Fed employee, who saw the writing on the wall and made a one-time withdrawal of 90% of my money and transferred it to an IRA at my financial institution. This can be done if you're 59 and a half. At least now I know where it is, how it's going to be used, and it's easier to reinvest, etc...without going through all that TSP red tape and 'dire' warnings about what is going to happen if you take your money out! I am also considering stopping my TSP contributions and redirect that amount to other investments not under government control, TSP 'board' or not! What pittance is left can sit there and bail out the government...the rest and future earnings are coming to me! All 'THEY' care about is a depletion of the TSP if people run around pulling their money out or stopping contributions...don't listen to their 'hogwash'...I'd do the same with my Social Security deductions if possible but 'THEY' made sure you can't do that, didn't they?
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • TSP while working
    marine69, If you're paying into Social Security then that would put you in the FERS not CSRS group. I would suggest you continue making at least a 5% payroll contribution to get the FERS matching money. It's doubtful that your private sector financial institution is going to be competitive with both the relatively low administrative costs of the investments and the additional return on your investment generated from the employer match. Pulling your old money out might be ok if you think you can find a better investment, but I wouldn't advice totally stopping the new contributions.
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  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }