Return to Article: Bill will push new real estate fund for Thrift Savings Plan
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9215
Now that the real estate bubble is getting ready to pop, TSP wants to set up a REIT fund. . . Just in time for hapless civil service employees to be sheared like lambs.
You have to admit the TSP retirement program is a great management tool. Cut defined benifits, sucker the employees into the stock market casino, so they can be fleeced by the likes of Ken Lay and Bernie Ebbers. Meanwhile when the employees do the math they realize that TSP will not give enough to retire on with its paltry 4.5% Met Life annuity which has no inflation protection.
Briliant concept - cut retirement benefits and let the employees do the math to realize that they can't afford to retire anyway.
In the meanwhile roll out the new Social Security "reform", with its TSP clone private savings account. Saw another leg off of the FERS retirement system while you are at it.
To cap it off, establish "pay for performance" which allows the government to shift payroll accounts from must fund to discretionary accounts. Next time a weapon system has a cost overrun, cover it with employee salary dollars.
The final straw - tell the employees that it is their own fault that their living standard is falling, because they haven't worked hard enough!
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9214
So that is the reasoning behind the subtle media reporting of the dismantling of the Fannie Mae and Freddie Mac agencies. So the administration can leverage those two organizations and their funds into more privatized units than before.
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9195
I am living in my real estate fund! Give me some secure retirement rather than hand our tax-deferred salary to some hustlers. One of the reasons that there is a G Fund is to protect us. This could be the camels nose under the tent for letting G Fund invest in junk like this. That said, let's see how we fare when we are forced by executive order to participate in "personal" social security accounts. The fund managers will be getting more commission for dumping our money into lousy investments that any of us will ever see no matter how long we live.
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9186
If the boardmembers and Mr. Saul are against the new fund, why not send out a survey and let the participants decide what type of new fund they would like? I am tired of being told what I can and can't do with my money, that's why I am only putting the 5% in to get the matching funds and investing the rest on my own in Roth IRA. I'm still not happy with what the board did with the loan program either, its all a dictatorship in the TSP. How many of you have made money so far this year without moving money from fund to fund?
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9177
I hope the good people of Civil Service are not getting their money hooked up in another Amelio scam. This guy will take your money and have you give it to stockbrokers, you know they need your money. Be careful the bad guys are looking to take your retirement account away from you as fast as they can. And oh by the way, King George is doing his best to keep you poor also.
Have a great day and invest your money wisely, based on your wants and desires not Amelios.
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