Perspective | Greater Savings Options For Feds Draw Praise, While Move To Cut Their Retirement Looms
Perspective | Greater savings options for feds draw praise, while move to cut their retirement looms
(iStock)For federal employees accustomed to elected leaders focused on firing feds faster and bashing their benefits, here’s a little something to cheer.
Bipartisan legislation in the House and Senate would update the Thrift Savings Plan (TSP), a 401(k)-type program for federal employees, by allowing them greater flexibility in withdrawing their funds.
This might not sound like much compared to news about federal retirement cuts in President Trump’s proposed fiscal 2018 budget and the movement to undermine civil service protections. Yet this little something could make life easier for the 5 million people with TSP investments worth $490 billion.