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TSP: Most funds down for October but up for year
November 2, 2009 - 8:01pm
| Tom Trabucco | |
| Click to hear the interview | |
 Download mp3
|
|
By Andrew Mitchell
Internet Editor
Federal News Radio
It's been quite a rollercoaster ride for the Thrift Savings Plan, thanks to Wall Street's ups and downs of the past month.
As for what this means for the near term, we asked Tom Trabucco, TSP Director of External Affairs.
"Markets are in a state of flux," he told Federal News Radio's Amy Morris on Monday's Daily Debrief. "They've been up and they've been down and now they're kind of middling."
Trabucco, who is a weekly guest on WFED's afternoon show, added: "But that's what happens when you're watching returns in the short term." He noted that most federal workers stay in the government's workforce for 30 or more years and are not required to take out their savings until they reach the age of seventy and one half years.
"That's what I call long-term investing," Trabucco said with a chuckle.
While most of the TSP's funds have, in fact, had their ups and downs, the G Fund stands out as an exception. It can be counted to continue to grow, but the question is, said Trabucco: "Will it keep pace with inflation?"
The bond fund also showed growth last month, but all the other funds were down for the period, according to Trabucco.
When looked at for the year to date, however, all funds are up, Trabucco noted.
Follow the daily TSP numbers on the Mike Causey page at FederalNewsRadio.com.
-----
On the Web:
Federal Retirement Thrift Investment Board - TSP Web site
(Copyright 2009 by FederalNewsRadio.com. All Rights Reserved.)
Internet Editor
Federal News Radio
It's been quite a rollercoaster ride for the Thrift Savings Plan, thanks to Wall Street's ups and downs of the past month.
As for what this means for the near term, we asked Tom Trabucco, TSP Director of External Affairs.
"Markets are in a state of flux," he told Federal News Radio's Amy Morris on Monday's Daily Debrief. "They've been up and they've been down and now they're kind of middling."
Trabucco, who is a weekly guest on WFED's afternoon show, added: "But that's what happens when you're watching returns in the short term." He noted that most federal workers stay in the government's workforce for 30 or more years and are not required to take out their savings until they reach the age of seventy and one half years.
"That's what I call long-term investing," Trabucco said with a chuckle.
While most of the TSP's funds have, in fact, had their ups and downs, the G Fund stands out as an exception. It can be counted to continue to grow, but the question is, said Trabucco: "Will it keep pace with inflation?"
The bond fund also showed growth last month, but all the other funds were down for the period, according to Trabucco.
When looked at for the year to date, however, all funds are up, Trabucco noted.
Follow the daily TSP numbers on the Mike Causey page at FederalNewsRadio.com.
-----
On the Web:
Federal Retirement Thrift Investment Board - TSP Web site
(Copyright 2009 by FederalNewsRadio.com. All Rights Reserved.)
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