G Fund Investments Suspended to Avoid Hitting Debt Ceiling

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http://www.myfederalretirement.com/publ ... t-2017.cfm

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Would it be prudent to move to the I fund today, rather than tomorrow with this news? I'm set to move to I tomorrow anyway, and I still have time before noon to process the change today?
Any thoughts?
Thank you

[cashworth]

Well the G fund wont have a down day, so its still a question of when is the best time to buy the I fund.

[crondanet5]

Will this site process G Fund IFTs tonight?

[mindofmush]

Yesterday Mnuchin wrote:
I am writing to notify you, as required under 5 U.S.C. § 8438(h)(2), of my determination that, by reason of the statutory debt limit, I will be unable to invest fully the Government Securities Investment Fund (G Fund) of the Federal Employees' Retirement System in interest-bearing securities of the United States, beginning on or after December 12, 2017. The statute governing G Fund investments expressly authorizes the Secretary of the Treasury to suspend investment of the G Fund to avoid breaching the statutory debt limit. My predecessors have taken this suspension action during previous debt limit impasses. By law, the G Fund will be made whole once the debt limit is increased. Federal retirees and employees will be unaffected by this action.

Don't you trust your Government? (of the people, by the people, for the people)

[evilanne]

So what would happen if everyone with anything in the G Fund invested all of their money in the other 4 investment funds?

[bamafamily]

This is all very unnerving. While it says employees won’t be touched, it says it can’t invest in the G fund. Where would my future contributions go if I have them staging in the G fund until the next IFT to move them someplace else? Am I forced to put them in the “F” fund?

[mindofmush]

The Treasury is basically borrowing from the G fund by not paying for your deposits until after the debt ceiling is raised. They say they'll pay it later (and the check is in the mail).

Still trust your government?

[bamafamily]

The Treasury is basically borrowing from the G fund by not paying for your deposits until after the debt ceiling is raised. They say they'll pay it later (and the check is in the mail).

Still trust your government?

Is it not paying our deposits?? or the interest on our deposits??? If the former, we are floating the govt money because they cant budget what they have??

[flaps]

This has happened a million times. There is nothing to worry about.

[ArrieS]

Still trust your government?

The questions isn't do you trust your Government. It's do you trust those running it.

[Carmen909]

This has happened a million times. There is nothing to worry about.

As someone who works in safety and assurance in aerospace, I can tell you that I would never trust anyone who told me that. In fact, that would be a red flag that I definitely need to start worrying.