Yesterday’s article on the L 2010 fund "turning into" the L Income Fund resulted in my receiving clarifying information from the Thrift Savings Plan (TSP) folks.
The TSP website (on which I based the article) states: "L 2010 will roll into the L Income Fund automatically in July 2010 when its allocation becomes the same as the allocation of L Income Fund." The actual mechanics of the transition are somewhat different.
After the July 1, 2010 adjustment in the L 2010 Fund, its allocation will be identical to the L Income Fund allocation. However, the money will remain in the L 2010 Fund until the end of December 2010. After that point the L 2010 Fund will "roll-down" into the Income Fund and cease to exist. The L 2050 Fund will be established in January 2011.
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John Grobe is President of Federal Career Experts, a firm that provides pre-retirement training and seminars to a wide variety of federal agencies. FCE’s instructors are all retired federal retirement specialists who educate class participants on the ins and outs of federal retirement and benefits; there is never an attempt to influence participants to invest a certain way, or to purchase any financial products. John and FCE specialize in retirement for special category employees, such as law enforcement officers.