U.S. Sen. Marco Rubio made many headlines recently when he unveiled a plan that will likely have an impact on federal government workers.
The senator from Florida proposed opening up the Thrift Savings Plan – federal workers’ 401(k)-style retirement investment fund – to all Americans whose employers do not offer similar defined-contribution plans.
The proposal received a torrent of criticism and praise. But it is not our job here to pick sides.
Our job is to help you.
Sen. Rubio’s proposal highlights something that we are always trying to get across to our current and prospective clients.
Congress and the White House are always keeping close tabs on your benefits, whether that’s your healthcare or investment accounts like the Thrift Savings Plan (TSP). Every year, we see proposals like Mr. Rubio’s that will have some sort of impact on your benefits, for better or worse.
The TSP is already complicated, requiring you to choose from a wide range of investment instruments that have gaudy bureaucratic, and not very insightful, names like G Fund, L 2020, L 2030, L 2040 and so on.
And these funds are constantly in motion, reacting to the dips, spikes and dives of the market. Then, add in the uncertainty of new proposals fresh from the hands of the legislative scribes on Capitol Hill. It’s maddening.
These funds require your attention and the wherewithal to know what investment plan, or plans, may be the best choice for you, not only today, but tomorrow as well.
That’s our job: to guide you through this statistical swamp.
We will help you understand the meaning of the next unexpected curveball targeting your benefits, courtesy of Congress and the executive branch. Let’s knock it out of the park together. Contact us for more info regarding your TSP.