House Passes TSP Modernization Act

[mhayes]

.

https://www.fedsmith.com/2017/10/11/hou ... ation-act/

[evilanne]

Good News...I wonder how long it will take for them to change regulations

[Scooter]

Outstanding. They finally got something beyond 1st base!

[shadogree]

Since it has passed the House, all it needs is the President to sign it. Shouldn't be long.

I don't think this Act will be enough to keep the retirees from leaving. If only they would raise the G fund interest rate, would be nice.

[klee]

I guess this is good for those who want to stay with TSP.

[Sad Al]

Ten weeks to retirement - this, plus TSPCalc.com - makes a difference. Can legislators pass anything this year? If it passes, how long until the TSP Board takes action? Retiring minds want to know.

[Racerx919]

Best of luck Al, must certainly be a good feeling to be able to retire.

I think that this legislation is a step in the right direction and perhaps more to come in the future.

[Chulke]

Like the article says...many retiring/ separating folks are being advised to rollover into another retirement account for flexibility and an abundance of other funds that could possibly earn a better rate of return.

I personally feel this is a step in the right direction but, I don't think this will help keep people in the TSP. It's all about the flexibility...let us make more transfers a month...give us more funds/ markets to invest in (NASDAQ perhaps)...increase the rate of return on the G fund...and the list goes on and on of improvements that could be made.

Don't get me wrong...I am thankful for the TSP and the government match each pay period...but I as well as most people I know, when leaving federal service no matter which branch, want to be done with the federal government completely when they leave. Its a soul sucking siege working for Uncle Sam these days, just my opinion.

Happy TSPing guys!

[NotSoGood]

Since it has passed the House, all it needs is the President to sign it. Shouldn't be long.

I don't think this Act will be enough to keep the retirees from leaving. If only they would raise the G fund interest rate, would be nice.

shadogree, the Senate still has to pass their version (and then it goes to conference) before it hits the president's desk. Here's the Senate bill:
https://www.govtrack.us/congress/bills/115/s873

[Scooter]

Let's hope it does not get watered down in the process.

[SpeedDemon]

This is very good news.

[mindofmush]

Wishing for a higher G fund interest rate is like wishing for a higher home mortgage rate or a higher credit card rate; your wish will be granted with higher inflation when everything is more expensive.

Besides, there are enough politicians who think that GOV employees are getting paid too much in the G fund; they think you should only get the short term yield instead of the 10-year treasury yield. (One of the suggestions for for reducing government waste and cut gov spending by 32 billion.)

[shadogree]

Since it has passed the House, all it needs is the President to sign it. Shouldn't be long.

I don't think this Act will be enough to keep the retirees from leaving. If only they would raise the G fund interest rate, would be nice.

shadogree, the Senate still has to pass their version (and then it goes to conference) before it hits the president's desk. Here's the Senate bill:
https://www.govtrack.us/congress/bills/115/s873

Yeah, this is true. No wonder the process takes forever to pass anything. Could be next year when this is all said and done.

[mendez]

At least next year.

[Aitrus]

It's designed to be slow, and for good reason. Imagine the chaos if Congress could just enact and withdraw dozens of laws each election cycle. The slowness creates a system that moves slowly, deliberately, and with time for We The People to weigh in on the issues at hand.