Category: TSP History
A funny thing has taken place since February this year. As sequestration – and associated furloughs – became reality in the spring, the total number of TSP participants dropped by 5,000 participants through May. And the number of participants remained stagnant again through June. At the end of December last year, there were just over 4.614 million participants. That rose to 4,619,546 TSP participants at the end of February. The number of participants then dropped to 4,614,553 in May, and … more1 Comment
The C Fund and F Fund turned 25 this month. The funds first opened and began accepting investments in January 1988, and they have been growing ever since. While the Thrift Savings Plan turned 25 last April, it only had one investment option in the first year: the G Fund. The C Fund and F Fund turned out to be slightly more complicated to implement than originally expected, thus accounting for the slight age difference. As of the end of … moreComments Off on Happy 25th Birthday C Fund and F Fund!
As an update to the previous post, some of the documents originally missing from the October 2012 Federal Retirement Thrift Investment Board (FRTIB) meeting minutes have been uploaded. Well, one at least. For those who are interested in issues related to security, an audit report compiled by CliftonLarsonAllen discussed, among other things, “internal controls over financial reporting and general computer and application controls” – though auditors did not test the operating effectiveness of these controls or the changes made to … moreComments Off on Some Records Updated, But Questions Remain
In addition to its most recent audit on security, the advisory firm KPMG has completed at least seven audits of TSP-related topics in the past four years. Two audits – both of which at least tangentially discussed Serco – stand out, given the issues related to the Serco information leak reported earlier this year and in light of the July 2012 audit. And curiously, these two audits that touched upon Serco also appear to be incomplete—they are missing the Agency’s … moreComments Off on Previous TSP Audits Discussed Security Related to Serco Services
October is a month of crashes. One of the biggest market crashes took place 25 years ago today. After gradually increasing some 20% in 1987 through the end of September, the S&P 500 began to fall in early October, and then plunged on October 19th. Black Monday. From a high of 336 in August, it dropped to 224 on this day. That’s a fall of one-third from peak to bottom. In one day, it fell 22%, from 282 on Friday, … moreComments Off on 25th Anniversary of the Crash