TSP: Love it or leave it?
By Mike Causey
May 23, 2018
When they leave federal service — either to retire or for another job — about half of all thrift savings plan account holders stick with the federal 401K plan. The other half may move it to an outside IRA or other investment option.
So who is right, and what is your plan?
The TSP has some of the lowest fees in the business. Over time that can add a lot of money to your pocket as opposed to going to some fee manager. It is probably the most carefully monitored fund on the planet.
Many members of Congress and top government officials are invested in it. And it is simple, with five basic funds covering the U.S. stock market, a bond fund, an international fund and the unique special treasury securities G Fund. It also has target-date funds that automatically adjust the investment mix.
Moving some or all of your TSP accounts to an outside investment also has its advantages. It is easier to make withdrawals, and can give investors many more choices. If you withdraw all your money from the TSP, you can never return. But there is a way to leave a little something to protect your right of return.
Before you decide to leave the TSP, or keep your money there, be advised that changes — big changes — are coming. The new withdrawal options can be viewed here.
Posted by: sarah_oz@yahoo.com
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