Market losses in the first three months of the year, especially in March, cut by nearly half the number of TSP account holders with more than $1 million on investment, the TSP has reported.
Through March, that number stood at 27,212, down from 49,620 at year-end 2019.
Despite continued investments, total TSP account values fell by more than $30 billion to $601 billion by the end of February, and the figure through March likely will be substantially lower.
The same likely will be true of average account balances, which stood at about $144,500 for FERS participants and $154,800 for CSRS participants at the end of February.
TSP millionaires have been investing in the program for an average of 30 years, while those with account values between $750,000 and $1 million—whose numbers fell to 57,082 from 74,869 during the three months—have been investing for 28 years on average.
The number with account values between $500,000 and $750,000—who have been investing 25 years on average—fell by about 27,000 to about 149,000, while the number with values between $250,000 and $500,000—who have been investing 22 years on average—fell by about 36,000 to about 452,000.
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