TSP withdrawals

Tens of thousands of Thrift Savings Plan participants have taken advantage of the extra loan and withdrawal options Congress included in March’s coronavirus relief legislation.

The six new lifecycle funds represent a shift toward five-year increments rather than the usual 10. The Thrift Savings Plan will also retire the L 2020 fund, with a plan to automatically roll L 2020 fund participants into the L income fund starting June 30.

Rep. Gerry Connolly (D-Va.) accused the Trump administration of politicizing the Federal Retirement Thrift Investment Board, which recently deferred plans to move the international fund to a new, China-inclusive index.

What a week for the Thrift Savings Plan. The TSP offered more details on how its participants can take loans and withdrawals during the coronavirus pandemic, and the international fund faces a different fate.

Now that the shock of the stock market correction has settled in, federal retirement benefits specialist Tammy Flanagan said it imperative to calculate what your net retirement annuity income with be.

Not even the usually steady G fund could evade the global economic impact of the coronavirus pandemic last month, as all Thrift Savings Plan funds showed noticeable decreases in monthly returns.

March has been a game-changer for billions of people. The pandemic has produced a variety of mid-life crises for just about every thinking person.

The Thrift Savings Plan will begin to set automatic contribution rates for new participants at 5% starting this fall.

In today’s Federal Newscast, the General Services Administration is trying to make it easier to learn and ask questions about its relatively new beta.SAM.gov contract opportunities portal.

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