According to the January/February 2020 Thrift Savings Plan (TSP) Message from the Executive Director, a few important changes are coming:
- 5-year Lifecycle (L) Funds—Later this year, we’ll offer more investment options when we introduce new L Funds in 5-year increments. You’ll be able to pick an L Fund with a target date that more closely matches your intended retirement date. Each L Fund will continue to vary your investments automatically to adjust your exposure to risk as you get closer to retirement and give you the potential for long-term growth. Learn more about our Lifecycle Funds and individual fund options.
- Automatic enrollment percentage increase—Beginning October 1, 2020, new participants will be automatically enrolled in the TSP at 5% of their pay. This change also includes Blended Retirement System (BRS) participants automatically re-enrolled in the TSP on or after January 1, 2021. The increase will allow new participants to get the full matching contributions from their agency or service. If you are currently an active participant and are not contributing at least 5%, then you’re missing out on free money. Increase your percentage today by logging into your agency’s or service’s electronic payroll system and upping your contribution amount.
Here are my favorites this week:
Here are the rest: