The total account balance fell below $700 billion in September for the first time since December 2020. Image: Poring Studio/Shutterstock.com
The average account balance for TSP investors in both the CSRS and FERS systems is down about $30,000 through September, with the total on investment in the program down some $120 billion despite the growth in account holders and ongoing new investments.
For those under FERS, the average balance at the end of September was $150,744 compared with $181,279 and for those under CSRS it was $168,756 compared with $195,424, according to data presented at the latest monthly meeting of the TSP board.
The total account balance fell below $700 billion in September for the first time since December 2020, to just under $690 billion. That’s down from just under $812 billion as of year-end 2021. Year to date the number of account holders has grown from just above 6.5 million to 6.7 million.
Due to a combination of investment losses in the common stock C fund and a shift by some investors to the security of the government securities G fund — which continued in September with a net transfer of $3.7 billion into that fund — those two funds have essentially traded places in investors’ portfolios. Including their shares in the lifecycle L funds, the C fund accounted for 40.3 percent of investments and the G fund 33.3 percent at year-end 2021, compared with 35.2 and 42 percent now.
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