Cost of running Thrift Savings Plan falling

[swsop]

The administrators of the 401(k)-style retirement savings plan for federal employees are on track to end this fiscal year with leftover funds, despite growth in the plan and costs associated with Hurricane Katrina.

The Thrift Savings Plan had a budget of $89.4 million for fiscal 2006; officials expect to have used only $83.4 million when the fiscal year closes Sept. 30, said Executive Director Gary Amelio at a Monday board meeting. That would put the plan $6 million, or 7 percent, under budget for the year, without any compromises in service, he said.

Andrew Saul, chairman of the TSP Board, praised staff members for steadily reducing costs while improving service, even as the plan grows. The amount invested is fast approaching the $200 billion mark, having grown just during the past three months from about $185 billion in June to nearly $191 billion at the end of August.

Full story: http://www.govexec.com/story_page.cfm?articleid=35042&dcn=e_gvet
swsop

 

[fabijo]

I'm waiting for the news to come out that we have until 4pm to make changes that take effect on that day.

 

[FUTURESTRADER]

I caught the end of a radio interview with our 'bud' gary amelio yesterday. He says they monitor unofficial TSP web sites, also calling the attempt to time the funds as 'nonsense'. He also said there were only 147 accounts that had 'traded' more than twice a week. I believe the link below is the interview.

http://www.federalnewsradio.com/index.php?sid=918879&nid=250

 

[Wheels]

I'm waiting for the news to come out that we have until 4pm to make changes that take effect on that day.

I wouldn't hold your breath.

I He also said there were only 147 accounts that had 'traded' more than twice a week.

No doubt all members of TSPTalk.

 

[nnuut]

I caught the end of a radio interview with our 'bud' gary amelio yesterday. He says they monitor unofficial TSP web sites, also calling the attempt to time the funds as 'nonsense'. He also said there were only 147 accounts that had 'traded' more than twice a week. I believe the link below is the interview.

http://www.federalnewsradio.com/index.php?sid=918879&nid=250

I can imagine My Name will be in the newspaper, that is their way of trying to save money. Well, hell I just can't makeup my mind, if they don't like that tell them to change the damn rules or just shut-up!

 

[tsptalk]

The "I caught the end of a radio interview with our 'bud' gary amelio yesterday" posts have been moved here:
http://www.tsptalk.com/mb/showthread.php?t=3327
I didn't want to take from swsop's initial post here about TSP costs.

Thanks

 

[ayla]

The administrators of the 401(k)-style retirement savings plan for federal employees are on track to end this fiscal year with leftover funds, despite growth in the plan and costs associated with Hurricane Katrina.
...
Full story: http://www.govexec.com/story_page.cfm?articleid=35042&dcn=e_gvet
swsop

I wish they would use some of their surplus funds to update the documentation on the tsp.gov web site. The last I looked, the pdf file that gives info on the I Fund and what stocks are included has not been updated since Dec 31, 2005. Seems like with the extra money, they could issue an "addendum" every quarter with an update to the "primary holdings of the EAFE" or something lilke that.

The web is supposed to make it easy to disseminate info. Guess they haven't figured that out yet. (Plus an educated public makes their job harder, of course.)

 

[atcsat64]

My experience has been that if an Agency has an end of year surplus, their budget is adjusted to match it the following year. What can happen if they do cut it?