Fed. Confiscates TSP’s From Federal Workers To Pay Debts!

FOR IMMEDIATE RELEASE
Beverly, Massachusetts, United States of America (Free-Press-Release.com) August 24, 2011 -- Federal Thrift Savings Plan Participants Flee to Safety

In the month of July, the Federal Thrift Savings Plan G fund, the most conservative investment offered by the plan, hit a new monthly record: almost $5.6 billion was transferred into the fund, according to FedSmith.

More than $2 billion was transferred from the C fund and almost $1.6 billion left the S fund (mostly equity funds); $180 million was transferred from the F fund and over $1 billion was transferred from the lifecycle funds.

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Fed. Confiscates TSP’s From Federal Workers To Pay Debts!

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FedSmith also reports the G fund is in an unusual situation. The Treasury Department was using funds from the G fund to help pay government operating expenses, while the debt ceiling limit was being debated. As of June 30, the amount in the G fund was down to $27 billion from approximately $129 billion in April. By the end of July, the amount in the G fund was down to about $9.8 billion, according to Treasury Department reports.
Since the debt ceiling was raised earlier this month, the money has reportedly been put back into the G fund, along with any interest that was due.

PLANADVISER staff

Aug. 16, 2011 http://www.planadviser.com/Federal_Thrift_Savings_Plan_Participants_Flee_to_Safety.

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C fund     Fed. Confiscates TSP s     Federal Thrift Savings Plan     G fund