Thrift Savings Plan Board Utilizes New Recordkeeping System to Reduce Budget Costs.

Kim Weaver, director of external affairs at the Federal Retirement Thrift Investment Board, provides an update on fiscal 2022 budget, operations and priorities for the Thrift Savings Plan board ___________ Follow our social media for the latest updates: GM on Twitter: GM on LinkedIn: GM on Facebook: Subscribe to the Government Matters podcast: For more information, visit Government Matters is a multi-platform news program dedicated to providing non-partisan information and analysis to federal managers, contractors and those supporting the federal marketplace....(read more)

LEARN MORE ABOUT: Thrift Savings Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing

The Thrift Savings Plan (TSP) board recently announced a new recordkeeping system that will allow them to decrease their budget going forward. This is great news for the TSP and its participants, as it shows a commitment to running the plan as efficiently as possible and passing those savings on to its members. The TSP is one of the best retirement savings plans available to federal employees and military service members. It allows participants to save for retirement through tax-deferred contributions, and includes a matching contribution from the government for those in the Federal Employees Retirement System (FERS) or the Blended Retirement System (BRS). However, the TSP has historically struggled with high administrative fees, which can erode the savings of its participants over time. Because the plan is required by law to be self-funded, any costs associated with administering the plan must be paid for by the plan itself. One major source of these fees has been the recordkeeping system used by the TSP. Recordkeeping refers to the process of tracking and maintaining individual participant accounts, including contributions, withdrawals, and investment gains and losses. The TSP has historically used a single recordkeeper, which has charged high fees for its services. In recent years, the TSP has explored the possibility of switching to multiple recordkeepers, which would allow them to shop around for the best rates and negotiate lower fees. Now, the TSP has announced that it will be moving to a multiple recordkeeper system. This will allow the TSP to take advantage of competitive pricing and negotiate better rates with multiple providers. The new recordkeeping system will also provide greater flexibility and customization for participants. They will be able to choose from a variety of investment options and change their investments more easily. Overall, the new recordkeeping system is a major win for the TSP and its participants. By decreasing administrative costs, the TSP will be able to pass on greater savings to its members and ensure that the plan remains competitive and affordable for years to come. https://inflationprotection.org/thrift-savings-plan-board-utilizes-new-recordkeeping-system-to-reduce-budget-costs/?feed_id=88887&_unique_id=643e1be45f4d4 #Inflation #Retirement #GoldIRA #Wealth #Investing #abc7news #GovernmentMatters #wjla #ThriftSavingsPlan #abc7news #GovernmentMatters #wjla

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

Search This Blog