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SportTrac Discussion
General Sport Trac Discussion
Anyone else use the TSP web site? Is it down or just me?
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<blockquote data-quote="Robert Thomas" data-source="post: 970375" data-attributes="member: 65566"><p>Yea, they have changed a few things. I was under CSRS so I did not have to contribute. I did and was limited to 5% and got no matching money. You had to phone in to make a change.</p><p></p><p></p><p></p><p>The new system was set up to help bail out Social Security in the 80's. TSP was established to make up the difference from SS and CSRS retirement funds. The problem was that CSRS employees cost the agency about 8% in personal services and FERS cost the agency about 18% to 20% in personal services. It caused havoc with agency budgets and most cut employees to pay the extra.</p><p></p><p></p><p></p><p>It's a good system if you put a least the max they will match and move the funds to a safe fund when you are about 5 to 7 years out. A employee can drive themselves crazy trying to micro manage the funds and figure out when they can retire. I have friends whose retirement dates jump 3 to 5 years depending on the market. Mandatory retirement at 57 comes to quick for some of them.</p></blockquote><p></p>
[QUOTE="Robert Thomas, post: 970375, member: 65566"] Yea, they have changed a few things. I was under CSRS so I did not have to contribute. I did and was limited to 5% and got no matching money. You had to phone in to make a change. The new system was set up to help bail out Social Security in the 80's. TSP was established to make up the difference from SS and CSRS retirement funds. The problem was that CSRS employees cost the agency about 8% in personal services and FERS cost the agency about 18% to 20% in personal services. It caused havoc with agency budgets and most cut employees to pay the extra. It's a good system if you put a least the max they will match and move the funds to a safe fund when you are about 5 to 7 years out. A employee can drive themselves crazy trying to micro manage the funds and figure out when they can retire. I have friends whose retirement dates jump 3 to 5 years depending on the market. Mandatory retirement at 57 comes to quick for some of them. [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Anyone else use the TSP web site? Is it down or just me?
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