Readers' Comments
Total Comments: 84
Page 2 of 11
Page 2 of 11
Money, Congress and Your TSP: Watch Out for Your Retirement Money
Total Comments: 84
Page 2 of 11
Page 2 of 11
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November 20, 2008
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Political Interference in the TSP
Social Security Administration
Fri Jul 11, 2008 10:05 AM
Post Reply
For years, I remained skeptical of the TSP because I thought I would see Congress eyeing the fund and finding a way to divert the funds elsewhere.
Now, after finally coming on board and joining the TSP with payroll deductions to try to "catch up" I see that my earlier fears may have been justified.
What sickens me is that I have seen States do this to their employees and rob their pension funds so that their retirees fare no better either.
When will this stop? Why is the "quick buck" running this country? Can someone please tell me why everyone wants to be a millionaire by age 30, and why not work like their parents did, and make their money the old-fashioned way? By earning it? Why do those who work and earn it have to lose it to these Johnny-Come-Latelies with their big ideas and short-sighted plans that end up costing everyone? Congress needs to take heed of the information that is out there or take a course in financial management as a required study all newly elected
Re: Political Interference in the TSP
DoD
Tue Jul 22, 2008 9:31 AM
options are a good thing
small agency
Fri Jul 11, 2008 10:07 AM
Post Reply
I have no objection to adding more investment options to the TSP. Managed funds, including REITs and precious metals and socially conscious funds are all legitimate investment options. Investors should have the option of investing in such funds through the TSP. Of course, the people who elect to invest in those funds should also pay the administrative costs associated with the funds. People who want to stick with the basic index funds should have that option as well and shouldn’t have to pay the higher fees associated with managed funds. Investor choice should be the guiding principle of the TSP.
Leave our money alone
Federal
Fri Jul 11, 2008 10:09 AM
Post Reply
Congress has already destroyed the Social Security system so why not give them a crack at destroying TSP too. If they employ the same intellect and wisdom they have employed for so many years it should only take a short time before TSP goes complete bust. Then they can come to the rescue and "bail us out" ending up being the knight riding in on the proud steed. What Congress needs desparately to do is go to work on reducing our tax burden.
If the women and minority owned financial companies are as good as they say they are, why do they need the TSP money, they should have investors lining up to invest with them. Message to Congress: Mind your own business and leave our TSP alone.
I'm female
DOE
Fri Jul 11, 2008 10:17 AM
Post Reply
Wow, just wow.
"According to a report in Government Executive, the Congressman is bothered that the indexing approach used by the TSP may exclude financial firms run by women and minorities from getting a bigger piece of the billions of dollars in the TSP pool and wants to consider using actively managed funds instead of index funds. "
If women and minorities want a piece of the TSP pie then their firms should offer index funds. Problem solved.
PS - I am going to write a letter to this bone head. I encourage others to do the same. Thank you for this article, Fedsmith.
write to congress!
da
Fri Jul 11, 2008 10:18 AM
Post Reply
i agree with all the comments here. however, commenting in this forum will do nothing but allow us to vent steam.
PLEASE make sure you write your elected representatives and let them know how you feel about this issue before it's too late!
TSP funds
IRS
Fri Jul 11, 2008 10:19 AM
Post Reply
I was going to leave my money in the TSP when I retired simply because it was an index fund. If they change to active management I will take my money and put it into an index fund somewhere else.
Abolish TSP
not your business
Fri Jul 11, 2008 10:20 AM
Post Reply
Why not allow us to select a company to invest my money with and do away with the TSP altogether.
Re: Abolish TSP
DON Civilian
Fri Jul 11, 2008 4:26 PM