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040534

House looking to improve TSP

By Andrew B. Einhorn May 18 2008, 10:19 PM

The House Committee on Oversight and Government Reform is working with Andrew M. Saul, Chairman, Federal Retirement Thrift Investment Board, to improve the federal employee retirement system. 

The Committee has proposed legislation to automatically enroll federal employees in the Thrift Savings Plan (TSP), make the life-cycle funds the default option for employees who do not select a fund, and make a Roth option available to participants.  The legislation would also authorize the board to add additional low-cost index funds or self-directed investment options to the TSP. 

Naturally, anyone not wanting to enroll in the TSP program would be able to opt out of automatic enrollment.  

Read More: U.S. Congress, Pay And Benefits, Legislation

 
 
 
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