The Thrift Savings Plan has been functioning normally during the pandemic, in large part due to the Federal Retirement Thrift Investment Board’s efforts to move some 80% of its contractor workforce to telework in three weeks.
The Thrift Savings Plan is scheduled to implement a series of new lifecycle funds later this summer, if the coronavirus pandemic doesn’t derail the scheduled rollout.
Thrift Savings Plan participants will soon have access to additional lifecycle funds that will more closely align to their specific retirement dates.
The Federal Retirement Thrift Investment Board, the agency that administers the Thrift Savings Plan, is also keeping a close eye on 2018 budget process. The board says the proposed changes to the federal retirement system included in the president’s budget request could have significant impacts for retirees and how they participate in the TSP.