Fresh TSP Add-Ons and the Mutual Fund Window in Thrift Savings Plan

13 Years ago legislation was passed to update the Thrift Savings Plan. They finally got around to the refresh, but did the TSP change for the better? In this episode we: • Take a closer look at how the TSP did with delivering on their big promises • Review changes to access and administration • Explain the new TSP Mutual Fund Window • Compare costs between the core funds you know and the new Mutual Fund Window Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:00 Intro 1:33 Administration and Access 7:40 Fund Choice 15:27 Cost Comparison Referenced Links TSP.gov webpages and resources: • • • Expense Ratio Average Costs from Nerdwallet.com: Article from FedSmith.com: Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: Federal Benefit Resources: Would you like to know more? ...(read more)

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The Thrift Savings Plan (TSP) has introduced several new features for federal employees and members of the uniformed services to help them save for retirement. One of the most significant changes is the TSP Mutual Fund Window, which allows participants to invest in individual mutual funds in addition to the TSP’s existing investment options. The TSP is a retirement savings plan for federal employees and members of the uniformed services. It was created in 1986 and operates like a 401(k) plan. Participants can contribute a portion of their salary to the plan and choose from a range of investment options to grow their savings. The TSP is one of the largest defined contribution plans in the world, with over 6 million participants and approximately $650 billion in assets under management. The TSP Mutual Fund Window allows participants to invest in a selection of mutual funds from various asset classes outside of the TSP’s existing funds. The mutual funds available through the window are managed by private investment firms, and participants can select the ones that best align with their investment objectives and risk tolerance. The window is intended to provide more investment flexibility for participants and is suitable for those who have a deeper understanding of investing fundamentals. To access the TSP Mutual Fund Window, participants must have an active TSP account and be willing to pay the associated fees. Once they meet these requirements, they can log into their account and select the “Mutual Fund” option under the “Interfund Transfers” tab. The window provides access to 5,000 mutual funds from over 150 fund families, including popular funds from firms like Vanguard, Fidelity, and T. Rowe Price. Another new feature of the TSP is the expanded withdrawal options. Participants who separate from service can now make up to four age-based or uniformed services accounts withdrawals per year. Previously, participants could make only one age-based withdrawal or one partial withdrawal after separating from service. The new changes offer more flexibility to participants who need access to their retirement savings while minimizing the impact of taxes and penalties. Overall, the new features of the TSP demonstrate the plan’s commitment to providing its participants with more investment options and flexibility. The TSP Mutual Fund Window and expanded withdrawal options are welcome additions to the plan, and many participants are likely to benefit from them. However, it is important for participants to carefully consider their investment choices and seek professional financial advice before making any decisions that could impact their retirement savings. https://inflationprotection.org/fresh-tsp-add-ons-and-the-mutual-fund-window-in-thrift-savings-plan/?feed_id=84673&_unique_id=642cf12543bf6 #Inflation #Retirement #GoldIRA #Wealth #Investing #federalbenefits #federalemployeebenefits #federalemployeeinvesting #federalretirement #FinancialPlanning #thriftsavingsplan #thriftsavingsplaninvesting #thriftsavingsplanproblems #thriftsavingsplantsp #thriftsavingsplanwebsite #tsp #tspinvesting #tspmutualfundwindow #tspmutualfundwindowfees #tspmutualfundwindowoptions #tspstrategy #tsptips #ValorWealthPartners #ThriftSavingsPlan #federalbenefits #federalemployeebenefits #federalemployeeinvesting #federalretirement #FinancialPlanning #thriftsavingsplan #thriftsavingsplaninvesting #thriftsavingsplanproblems #thriftsavingsplantsp #thriftsavingsplanwebsite #tsp #tspinvesting #tspmutualfundwindow #tspmutualfundwindowfees #tspmutualfundwindowoptions #tspstrategy #tsptips #ValorWealthPartners