In England and in some parts of this country, a "take away" is when you order a popular fast food and take it home with you. In Washington "take away" is the legislative-political equivalent of bend-over-and-smile-this-is-going-to-hurt-you-more-than-me, says Senior Correspondent Mike Causey.
The Fiscal Year 2016 budget the House passed Wednesday calls on federal employees to make greater contributions to their retirement plans, while altering the Thrift Savings Plan's G Fund. The budget also seeks to reduce the civilian workforce by 10 percent over the next 10 years through attrition.
A hidden proposal in the new budget resolution the House of Representatives is about to pass would change the way the G-Fund in the Thrift Savings Plan bears interest. The idea is to save the government money by paying less into the fund. But that means participants would receive less money out of the fund. Kim Weaver, director of external affairs for the Federal Retirement Thrift Investment Board, tells In Depth with Francis Rose, about the details behind the proposal and why it could be a big headache.
"It would drop the interest to virtually zero, which would make the G Fund worthless to our participants," the Federal Retirement Thrift Investment Board's Kim Weaver said of the House proposal.
Host Mike Causey is joined by estate planner Tom O'Rourke who will discuss what you need to do to make sure your estate is in order. March 18, 2015
For the ninth time in 19 years and the second time in 13 months, the government has run out of authority to borrow. Senior Correspondent Mike Causey explains what that means for your Thrift Savings Plan account.
Where were you putting your retirement money during the Great Recession? asks Senior Correspondent Mike Causey.
Host Mike Causey and financial planner Arthur Stein will discuss different investment strategies for the Thrift Savings Plan, and what you can do to make sure you have enough saved for retirement. March 11, 2015
When it comes to investing and most other things, hindsight is 20/20. Past investments in the Thrift Savings Plan may point to strategies for the future, says Senior Correspondent Mike Causey.
All but one Thrift Savings Plan fund made steady progress last month. The fixed income F Fund lost 0.91 percent.
When it comes to prepping for retirement, federal workers are doing much better than their private sector counterparts, says Senior Correspondent Mike Causey.
Senior Correspondent Mike Causey shares some expert advice on why converting your TSP balance to an annuity might not be a good idea.
More of your colleagues than ever invest for retirement in the Thrift Savings Plan. 88 percent of FERS employees across government save in TSP accounts. Kim Weaver is director of external affairs at the Federal Retirement Thrift Investment Board. On In Depth with Francis Rose, she told what the TSP thinks that number means.
A snowstorm forced the Federal Retirement Thrift Investment Board to close down one of its call centers on the busiest call day of the year.
You have two basic retirement-planning options with the Thrift Savings Plan. You can leave your money in, or take it out. Tammy Flanagan is Senior Benefits Director for the National Institute of Transition Planning. On In Depth with Francis Rose, she said there are pros and cons for both, but you need to think carefully before you decide what to do.