Maverick06's Account Talk

[maverick06]

bought today 70S 20I 10C.... of course i missed the huge jump the past few days... I figured that after the deal is resolved, the markets should move up, or at least not down much. S is the winner, look at auto tracker....


of course, if the US does default on debt... could you imaging the horror.........

 

[maverick06]

TSP FOR ALL

Rubio Pitches Giving All Americans Access to the TSP - Pay & Benefits - GovExec.com

<<<All Americans should have access to the same retirement savings plan as federal employees, according to a Republican lawmaker. But a spokeswoman for the plan said opening it to the general public might not be in the best interest of current participants.
>>>

I will have to think about that, but seems like change is on the horizon....

 

[Whipsaw]

Re: TSP FOR ALL

Rubio Pitches Giving All Americans Access to the TSP - Pay & Benefits - GovExec.com

<<<All Americans should have access to the same retirement savings plan as federal employees, according to a Republican lawmaker. But a spokeswoman for the plan said opening it to the general public might not be in the best interest of current participants.
>>>

I will have to think about that, but seems like change is on the horizon....

What do you want to bet there will be means tested contribution matching... :-/

 

[nasa1974]

Re: TSP FOR ALL

Rubio Pitches Giving All Americans Access to the TSP - Pay & Benefits - GovExec.com

<<<All Americans should have access to the same retirement savings plan as federal employees, according to a Republican lawmaker. But a spokeswoman for the plan said opening it to the general public might not be in the best interest of current participants.
>>>

I will have to think about that, but seems like change is on the horizon....

It sounds good and looks good to your constituents, but it won't fly. The logistics are complicated and it would increase cost. If he would focus on reducing the costs and fees on normal IRA's it would be more beneficial to the American public.

 

[BichonFreeze]

Re: TSP FOR ALL

It sounds good and looks good to your constituents, but it won't fly. The logistics are complicated and it would increase cost. If he would focus on reducing the costs and fees on normal IRA's it would be more beneficial to the American public.

I don't see this going anywhere for a few reasons. The first and foremost lobbyists from the banking industry. Why would they want to lose control over IRA's which typically pocket them 4-6% in fees to the much cheaper TSP (assuming cost was kept low). Second, overhead costs: why wouldn't people just contribute to IRA's? It'll be more expensive for government to expand its scope to set up the infrastructure in TSP to enable this.