Senators in both parties last week expressed concerns about OPM director nominee John Gibbs’ fitness for the position in light of Twitter posts that were Islamophobic, anti-LGBT and endorsing debunked satanic conspiracy theories.
All three of President Trump’s picks suggested that investing feds’ retirement money in Chinese companies could be too risky, but said they would base any decisions within their fiduciary responsibility to participants.
Although satisfaction levels are slightly down compared with 2017, officials with the federal government’s 401(k)-style retirement savings program said that is likely due to market volatility at the time of the survey.
In just 16 days, more than 13,000 Thrift Savings Plan participants have taken advantage of a temporarily available withdrawal option offered as part of the federal government’s response to the coronavirus pandemic.
Next week, officials at the federal government's 401(k)-style retirement savings program will begin offering lifecycle funds in five-year increments, moving the options in line with private sector counterparts.
Michael Kennedy has served on the board for a decade, overseeing several major initiatives including implementing an employer match for military service members through the blended retirement system and making it easier for participants to access their money.