Skip to main content

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
Labels:

Comments

Post a Comment

Popular posts from this blog

How to Change Password for Fidelity Investments App

How to Change Password for Fidelity Investments App In this video, I'll show you How to Change Password for Fidelity Investments App. This is the easiest and fastest way to Change Password for Fidelity Investments App. Make sure you watch until the end of this video to find out How to Change Password for Fidelity Investments App on Android and iPhone. These methods work on Android as well as iOS 11, iOS 12, iOS 13, iOS 15 and iOS 16. Hope you enjoy! Video Parts: 00:00 Intro: How to Change Password for Fidelity Investments App 00:07 Changing Password on Fidelity Investments App 00:38 Outro: Ending Thanks for watching! ❤ Bytes Media © 2022 Topics Covered: Bytes Media how to how to fix How to Change Password for Fidelity Investments App how to change password for fidelity investments fidelity password fidelity login how to change fidelity wifi password i forgot my fidelity online banking username and password fidelity password requirements fidelity customer service fi...
Post a Comment
Read more

How Annuity Education Can Help You Effectively Plan for Retirement with Annuities: Insights from IBC Global

Want to Learn If An Annuity Is Right For You? Thank you all for watching! Don't forget to subscribe for more! DISCLAIMER: All advice and/or opinions expressed in our videos are the result of our experience in the insurance and financial industries. Any action taken based on the information expressed in our videos is the sole responsibility of the viewer. All content produced by Steve Parisi and ILS Products is made for informational purposes only. #Finance​ #Annuity​ #Insurance... ( read more ) LEARN MORE ABOUT: Retirement Annuities REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Annuity Education: Effective Retirement Strategy - Utilizing Annuities Retirement planning is a crucial aspect of everyone's financial journey. With the goal of maintaining a comfortable lifestyle after ending decades of work, individuals often seek strategies that provide a st...
Post a Comment
Read more