Feds Shying Away From TSP

Kenishirotie/Shutterstock.com

The number of civilian participants enrolled in the federal employees’ retirement investment plan has dropped to its lowest point in the last year.

About 2.4 million participants were enrolled through the Federal Employees Retirement Systems as of last month, according to the Federal Retirement Thrift Investment Board -- the agency that administers the Thrift Savings Plan. The board raised the possibility of furloughs being responsible for the decline, but said unstable markets could have also caused the withdrawals.

TSP funds performed poorly in June, though they have so far rebounded in July. The C Fund -- invested in common stocks -- is up more than 8 percent on the month, while the I Fund -- invested in international stocks -- is up more than 5 percent.

It is not uncommon to see withdrawals from retirement funds in June, members of the board’s executive staff explained, as enrollees shift their assets to pay for summer vacations.

As participation dipped, more enrollees shifted their investments into safer funds. Federal workers and retirees shifted about $1.8 billion to the G Fund, which invests in government securities and is TSP’s most stable offering. Most of the transfers came out of the Fixed Income Fund, which is down 2.2 percent on the year. 

(Image via Kenishirotie/Shutterstock.com)

Stay up-to-date with federal news alerts and analysis — Sign up for GovExec's email newsletters.
FROM OUR SPONSORS
JOIN THE DISCUSSION
Close [ x ] More from GovExec
 
 

Thank you for subscribing to newsletters from GovExec.com.
We think these reports might interest you:

  • Sponsored by G Suite

    Cross-Agency Teamwork, Anytime and Anywhere

    Dan McCrae, director of IT service delivery division, National Oceanic and Atmospheric Administration (NOAA)

    Download
  • Data-Centric Security vs. Database-Level Security

    Database-level encryption had its origins in the 1990s and early 2000s in response to very basic risks which largely revolved around the theft of servers, backup tapes and other physical-layer assets. As noted in Verizon’s 2014, Data Breach Investigations Report (DBIR)1, threats today are far more advanced and dangerous.

    Download
  • Federal IT Applications: Assessing Government's Core Drivers

    In order to better understand the current state of external and internal-facing agency workplace applications, Government Business Council (GBC) and Riverbed undertook an in-depth research study of federal employees. Overall, survey findings indicate that federal IT applications still face a gamut of challenges with regard to quality, reliability, and performance management.

    Download
  • PIV- I And Multifactor Authentication: The Best Defense for Federal Government Contractors

    This white paper explores NIST SP 800-171 and why compliance is critical to federal government contractors, especially those that work with the Department of Defense, as well as how leveraging PIV-I credentialing with multifactor authentication can be used as a defense against cyberattacks

    Download
  • Toward A More Innovative Government

    This research study aims to understand how state and local leaders regard their agency’s innovation efforts and what they are doing to overcome the challenges they face in successfully implementing these efforts.

    Download
  • From Volume to Value: UK’s NHS Digital Provides U.S. Healthcare Agencies A Roadmap For Value-Based Payment Models

    The U.S. healthcare industry is rapidly moving away from traditional fee-for-service models and towards value-based purchasing that reimburses physicians for quality of care in place of frequency of care.

    Download
  • GBC Flash Poll: Is Your Agency Safe?

    Federal leaders weigh in on the state of information security

    Download

When you download a report, your information may be shared with the underwriters of that document.