16 Things Seniors Born Between 1941-1969 Could Take Advantage Of
In summer 2022, the Thrift Savings Plan has indicated it will offer both its civilian federal employee and uniformed services participants access to a mutual fund window.
This window will allow TSP investors to allocate funds in their account to approximately more than 5,000 funds.
According to the Federal Retirement Thrift Investment Board (FRTIB) — the agency that administers the TSP — the funds will include environmentally sustainable options called ESGs — environmental, social and governance funds.
Because ESGs are gaining momentum in popularity, financial services experts are predicting their will be a surge in these investment options in the next year even outside of the TSP.
One financial advisor described it this way: ““There’s a generational gap where, in some cases, younger generations care more about the impact of their investment than just making as much money as possible. As the older generation’s wealth transfers to younger generations, that will be a big catalyst for ESG investing.”
“We have heard requests for greater investment flexibility in all of the surveys we have done over the last eight years and we commonly hear this same viewpoint through all of our customer contact channels,” FRTIB spokesperson Kim Weaver told Roll Call last week.
According to Weaver, TSP participants won’t face any mandatory changes in the program next year. The five main funds — the G,F,S,C and I — will remain. “To the extent participants wish to incorporate a particular investment outlook into their portfolio, they will have the means to do so through the mutual fund window,” Weaver said.