TSP withdrawals

The Thrift Savings Plan continued its positive trend last month, as all funds showed either gains or held steady compared to September.

After a bipartisan group of senators expressed concern, the Federal Retirement Thrift Investment Board is reconsidering its plans to expand the I fund benchmark to emerging markets. Sen. Marco Rubio (R-Fla.) has said he’ll introduce new legislation to prevent the TSP from moving the I fund to this benchmark.

Fans of the Thrift Savings Plan hope new withdrawal rules encourage more people to stick with it when they move to another job or retire.

Last month the Thrift Savings Plan implemented a series of changes in withdrawal rules it hopes/expects will lead to more people leaving their investments in the TSP when they leave government.

In today’s Federal Newscast, Veterans Affairs launched a new training program to help employees impacted by the agency’s ongoing electronic health record modernization.

Thrift Savings Plan participants officially have access now to a variety of new withdrawal options. Here’s what they mean, and here’s how they might help you stay in the TSP longer into retirement.

The Thrift Savings Plan is an important part of retirement security for federal employees and has launched several new options for how to manage or take withdrawals from one’s account.

Effective Sept. 15, major changes will take effect in the TSP, changes that will make it more attractive for life-time investors and more convenient for people who need to withdraw different amounts over their retirement.

Two senators are also questioning the Federal Retirement Thrift Investment Board’s decision to move the Thrift Savings Plan’s I fund to a new index.

September’s new Thrift Savings Plan withdrawal options should keep many more investors in the TSP in future. Here’s an FAQ on the changes.