The Thrift Savings Plan has hit an eye-popping milestone. The Thrift Savings Fund balance — the total amount invested across the TSP’s 4.5 million accounts — climbed to a record-high of $302.1 billion at the end of January, Tom Trabucco, the director of External Affairs at the Federal Retirement Thrift Investment Board, told In Depth with Francis Rose.
Trabucco called it a “big jump” from the end of December, when the TSP balance was $294.7 billion. The increase was bolstered by “outstanding returns” last month, he added. It’s the first time the TSP has ever crossed the $300 billion mark, Trabucco said.
Trabucco said the TSP’s size — it’s the largest retirement plan in dollars and participants — helps to put the numbers in context. “Where the people are, the money’s going to follow,” he said. “As long as they’re putting their money in — and they are.”
In fact, participation numbers for January also increased, Trabucco said. The number of FERS contributors increased from about 2,020,000 to about 2,052,000, he said.