14.2% Yearly Increase in TSP Balance for FERS
From the end of December 2018 to the end of December 2019, the average TSP balance for FERS employees was up almost 14.2%.
If you are a federal employee, you may be wondering how to plan for your retirement and make the most of your Thrift Savings Plan (TSP). The TSP is a tax-advantaged retirement savings plan that allows you to invest in various funds and options, depending on your risk tolerance and goals. On this tag page, you will find articles and resources that will help you understand the benefits and features of the TSP, as well as tips and strategies to increase your investment returns and secure your future income. You will also learn about the latest news and updates on the TSP performance, fees, withdrawals, and more. Whether you are just starting your federal career or are near retirement, these articles will provide you with valuable information and guidance on how to make the best use of your TSP.
From the end of December 2018 to the end of December 2019, the average TSP balance for FERS employees was up almost 14.2%.
The stock market is falling fast. Many TSP investors have seen their accounts dwindle in value in just a few days. Is this the time to sell your TSP stock funds?
The TSP is a great option for saving for retirement, but the author says that using it for all savings needs can create tax consequences.
A proposed rule in the Federal Register would increase the automatic enrollment percentage in the TSP from 3% to 5% later this year.
The TSP is implementing a simpler process for making catch-up contributions beginning in 2021.
A proposed rule would allow TSP participants to make hardship withdrawals in the event of natural disasters.
TSP annuities will have a new formula used to calculate their cost of living adjustments starting this spring.
The 2021 budget proposes major changes in federal benefits to align more closely with private sector benefits.
A task force report urges major changes to the civil service system from pay and benefits to handling removal actions and appeals by federal employees.
As the author explains, federal employees who think their taxes will be lower in retirement could be in for an unpleasant surprise.