Fedweek

The number of TSP millionaires more than doubled over the last 12 months, from 45,219 as of the end of June 2020 to 98,879 as of the end of last month, the TSP has reported.

The number of accounts valued between $750,000 and $1 million also stands just below 100,000 at 99,708, up by about 28,000.

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That 12-month period was one of strong returns overall for the TSP investment funds, in particular the stock-based funds. Over that time they not only recovered from the drops of early last year that followed the declaration of the pandemic but also added substantial gains above their previous highs. That in turn pulled up the returns of the lifecycle L funds, especially those with longer time frames that are more heavily weighted toward the stock funds.

Over that time the number of accounts worth between $500,000 and $750,000 grew from about 171,000 to about 212,000 and the number worth between $250,000 and $50,000 grew from about 483,000 to about 530,000.

The total number of accounts, including military personnel and persons who have separated but have kept their accounts open, is now above 6.1 million. As of the end of May, the average balance for CSRS participants was about $186,000 and for FERS participants about $174,000.

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