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Legislative Branch

Allow transfer of TSP funds into private mutual funds

*The Thrift Savings Plan budget is to manage employee accounts is $142 million.

 

*Currently all of our voluntary retirement contributions are required to be handled through the Thrift Savings Program unless we quit or retire.

 

* The TSP has limited investment options which have shown poor returns over the past 10 years.

 

* Private investment companies offer many more options and chances of better returns.

 

*This proposal would give employees the option (not requirement) of investing in a mutual fund/brokerage of their own choosing instead of being restricted to the G/C/I/F/S funds of the Thrift Savings Plan.

 

*Employees could remain in the G/C/I/F/S funds of the TSP or they could move their funds to a private mutal fund such as Vanguard, Fidelity,etc.

 

*This option would give current employees the same option to choose as a federal retiree.

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Idea No. 8184