Second Fund Manager Contract Awarded for TSP

October 22, 2020 10:41 AM
View this article online at https://www.fedsmith.com/2020/10/22/second-fund-manager-contract-awarded-tsp/ and visit FedSmith.com to sign up for free news updates

The Federal Retirement Thrift Investment Board (FRTIB) announced today that it has awarded the second of two fund manager contracts for the F, C, S and I Funds in the Thrift Savings Plan.

The FRTIB selected State Street Global Advisors Trust Company to manage the funds for a two-year base period, with four two-year options. Earlier this year, the FRTIB awarded a fund manager contract to BlackRock which will also manage assets for all four Funds. The Funds were previously solely managed by BlackRock, but a request for proposal issued by the FRTIB last May sought two managers.

The F Fund is a bond index fund that tracks the Bloomberg Barclays U.S. Aggregate Bond Index. This broad index includes U.S. Government, Agency, mortgage-backed, asset-backed, corporate, and foreign government (issued in the U.S.) sectors of the U.S. bond market. As of September 30, 2020, the F Fund held $38 billion in assets.

The C Fund is a stock index fund that tracks the Standard and Poor’s 500 (S&P 500) Index, a broad market index made up of stocks of 500 large to medium-sized U.S. companies. As of September 30, 2020, the C Fund held $228 billion in assets.

The S Fund is a stock index fund that tracks the Dow Jones U.S. Completion Total Stock Market Index, a broad market index made up of stocks of U.S. companies not included in the S&P 500 Index. As of September 30, 2020, the S Fund held $72 billion in assets.

The I Fund is a stock index fund that tracks the MSCI EAFE (Europe, Australasia, Far East) Index, a broad market index made up of the equity markets of the developed world outside of the United States and Canada. As of September 30, 2020, the I Fund held $51 billion in assets.

As of September 30, 2020, the TSP assets totaled approximately $651 billion, and retirement savings accounts were being maintained for more than 6.0 million TSP participants.

© 2020 Ian Smith. All rights reserved. This article may not be reproduced without express written consent from Ian Smith.

Tags:

About the Author

Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce.

Top