Senior Correspondent Mike Causey says the G fund becomes a political football each time Congress debates raising the debt ceiling, and that makes many investors nervous.
Each year, thousands of Thrift Savings Plan participants max out their annual contributions too early and miss out on their agency's matching contribution.
The Senate sent the TSP Modernization Act to the president's desk this week. The bill will give Thrift Savings Plan participants more flexible options for making withdrawals from their accounts.
The agency that administers the TSP said it's planning to take additional caution in validating participants' identities in light of the Equifax breach.
The agency that administers the Thrift Savings Plan is getting a big budget boost next year to handle a growing number of enrollees, staff and responsibilities.
New members who enter military service on or after Jan. 1, 2018 will get automatically enrolled into the new blended retirement system. Previously enlisted service members can choose to opt in to the new system.
House Oversight and Government Reform Committee Ranking Member Elijah Cummings (D-Md.) and Government Operations Subcommittee Chairman Mark Meadows introduced the TSP Modernization Act, which would give participants in the Thrift Savings Plan more options and flexibility to withdraw from their accounts. It's a companion bill to the legislation Sens. Tom Carper (D-Del.) and Rob Portman (R-Ohio.) introduced in April.
The Federal Retirement Thrift Investment Board is losing its executive director of 10 years. Greg Long announced his resignation during the board's monthly meeting. In the interim, the agency's chief investment officer, Ravindra Deo, will serve as the acting executive director while the board conducts a national search for a new leader.
Cybersecurity remains a tough challenge to tackle for Federal Retirement Thrift Investment Board, the agency that administers and oversees the Thrift Savings Plan. Under the Federal Information Security Modernization Act (FISMA), an independent auditor found the board lagging on risk management and access strategies.
Federal Retirement Thrift Investment Board is putting a customer service overhaul on hold as it prioritizes cybersecurity and IT infrastructure in its 5-year strategic plan.
The Federal Retirement Thrift Investment Board is doubling the amount of contractors competing to provide financial management consultation for the TSP.
The congressional stalemate over funding a long-term highway bill is reviving fears that lawmakers could raid the Thrift Savings Plan. House Republicans have proposed cutting the G Fund's interest rate to free up $32 billion over ten years.
Most of the Thrift Savings Plan funds fell in June 2015, according to the latest statistics from the Federal Retirement Thrift Investment Board.
"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.