Timothy Sumer

In June of 2022 The Thrift Savings Plan, which is the retirement plan available for all military and federal workers, is being updated with many big changes. There will be a lot of cosmetic changes, a new website design, a new mobile app, and improved online process for completing paperwork for rollovers and withdrawals. But perhaps the change with the biggest impact on your retirement is the addition to what they are calling the mutual fund window. This adds thousands of more investment options onto the TSP platform. Now you will have many more options than just the G, F, C, S, and I funds you have been used to in the past. And while it may seem that adding more investment options would be a good thing, there are a few things you’ll want to understand before making the change. First, there’s added fees if you elect to use these new investments. In addition to a $150 per year administrative fee, there is a $28 fee for each trade in the mutual fund window, and the potent...