Big news for Thrift Savings Plan (TSP) participants: starting today, June 30, 2025, the L 2075 Fund officially joins the TSP’s lineup of Lifecycle (L) Funds. The fund is intended for long-term investors, namely those planning to retire in 2073 or later.
The Federal Retirement Thrift Investment Board (FRTIB) describes the L 2075 Fund as one of the most growth-focused options currently available. Its aggressive asset allocation is intended for younger investors—those born after 2009—offering the potential for higher returns over time through a stock-heavy investment mix with nearly all of the investments allocated to the C, S and I Funds.
The L 2075 Fund opens today at the initial share price of $10. Participants were able to begin making fund reallocations and fund transfers into the new L 2075 Fund at 12 PM eastern time on June 27, 2025. These transactions became effective on June 30, 2025. Investment elections into the new L 2075 Fund became available beginning June 30, 2025, effective for contributions made on or after July 1, 2025.
One Fund Retires, Another Emerges
As the L 2075 Fund launches, the L 2025 Fund has officially reached its target date and been rolled into the L Income Fund. The transition took place after the markets closed on Friday, June 27.
How Do L Funds Work?
L Funds are target-date retirement funds built to simplify investing. Each combines the five core TSP funds—G, F, C, S, and I—and gradually adjusts its investment mix based on your expected retirement year.
This strategy follows a “glide path,” starting with an aggressive allocation focused on growth and gradually shifting toward a more conservative, income-oriented mix. Allocations are adjusted quarterly and rebalanced daily to maintain the fund’s investment strategy.
The TSP states that the L Funds were designed to let federal employees invest their entire portfolio in a single L Fund, ensuring they receive the highest expected return for the level of risk that aligns with their preferences. However, it is always advisable to consult a financial advisor to develop a plan that meets the needs of your situation.
Current TSP L Fund Lineup
L Income Fund
- Who It’s For: The TSP suggests the L Income Fund if you were born before 1960, are currently withdrawing money from your TSP account, or you plan to begin withdrawing money this year.
- Inception Date: August 1, 2005
- Allocation (as of April 2025):
- G Fund 67.76%
- F Fund 5.49%
- C Fund 13.92%
- S Fund 3.47%
- I Fund 9.36%
L 2030 Fund
- Who It’s For: Retiring between 2028–2032 or born between 1965 and 1969
- Inception Date: August 1, 2005
- Allocation (as of April 2025):
- G Fund 34.32%
- F Fund 5.56%
- C Fund 31.25%
- S Fund 7.83%
- I Fund 21.04%
L 2035 Fund
- Who It’s For: Retiring between 2033–2037 or born between 1970 and 1974
- Inception Date: July 1, 2020
- Allocation (as of April 2025):
- G Fund 27.56%
- F Fund 6.50%
- C Fund 34.26%
- S Fund 8.60%
- I Fund 23.08%
L 2040 Fund
- Who It’s For: Retiring between 2038–2042 or born between 1975 and 1979
- Inception Date: August 1, 2005
- Allocation (as of April 2025):
- G Fund 21.32%
- F Fund 6.92%
- C Fund 37.27%
- S Fund 9.38%
- I Fund 25.11%
L 2045 Fund
- Who It’s For: Retiring between 2043–2047 or born between 1980 and 1984
- Inception Date: July 1, 2020
- Allocation (as of April 2025):
- G Fund 15.99%
- F Fund 7.26%
- C Fund 39.84%
- S Fund 10.05%
- I Fund 26.86%
L 2050 Fund
- Who It’s For: Retiring between 2048–2052 or born between 1985 and 1989
- Inception Date: January 31, 2011
- Allocation (as of April 2025):
- G Fund 11.16%
- F Fund 7.09%
- C Fund 42.42%
- S Fund 10.72%
- I Fund 28.61%
L 2055 Fund
- Who It’s For: Retiring between 2053–2057 or born between 1990 and 1994
- Inception Date: July 1, 2020
- Allocation (as of April 2025):
- G Fund 0.55%
- F Fund 0.45%
- C Fund 51.36%
- S Fund 12.99%
- I Fund 34.65%
L 2060 Fund
- Who It’s For: Retiring between 2058–2062 or born between 1995 and 1999
- Inception Date: July 1, 2020
- Allocation (as of April 2025):
- G Fund 0.49%
- F Fund 0.51%
- C Fund 51.36%
- S Fund 12.99%
- I Fund 34.65%
L 2065 Fund
- Who It’s For: Retiring between 2063–2067 or born between 2000 – 2004
- Inception Date: July 1, 2020
- Allocation (as of April 2025):
- G Fund 0.42%
- F Fund 0.58%
- C Fund 51.36%
- S Fund 12.99%
- I Fund 34.65%
L 2070 Fund
- Who It’s For: Retiring between 2068–2072 or born between 2004-2009
- Inception Date: July 26, 2024
- Allocation (as of April 2025):
- G Fund 0.36%
- F Fund 0.64%
- C Fund 51.48%
- S Fund 12.87%
- I Fund 34.65%
L 2075 Fund
- Who It’s For: Retiring in 2073 or later or born after 2009
- Inception Date: June 30, 2025
- Allocation: TBD, but projected to be similar to L 2070 Fund with 99% invested in stock funds
