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As of December 31, 2023, TSP has approximately 7 million participants (of which approximately 4.1 million are actively participating through payroll deductions), and more than $845.4 billion in assets under management; [1] it purports to be the largest defined contribution plan in the world.
The Smart Savings Act would make the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation investment fund (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. The bill would retain the Government Securities ...
The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world. As of August 2021, the board manages $794.7 billion in assets on behalf of 6.4 ...
The Secure 2.0 Act will allow 529 college savings plan owners to use some unused funds for the beneficiary’s retirement beginning in 2024, but there are several important rules.
The Thrift Savings Plan (TSP) is a defined contribution plan that is available only to military service members and federal employees. It is similar to the 401(k) plans offered by many private ...
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At the time, federal employees shared discussions of investment strategies, allocation theories, and held competitions on a member invented tracking listing showing daily returns. TSPTALK.COM first appeared in major government employee press article in a November 2006 article published in GOVEXEC.COM. [ 2 ]
Contribution limit: $22,500 in 2023 and $23,000 in 2024 for the employee; people 50 and older can contribute an additional $7,500. ... the Basic Benefit Plan, and the Thrift Savings Plan.