There are just over 100K TSP accounts with balances above $1 million, an increase from the beginning of the year. Image: RomanR/Shutterstock.com
By: FEDweek StaffThe number of TSP accounts worth $1 million or more was above 100,000 as of June 30 for the first time since March 2022, although it may now be back below that level because the three stock-based funds that hold about three-fifths of TSP investments have suffered losses in three of the four months since June.
The 100,534 accounts — out of a total of 6.9 million — with $1 million or more through mid-year represented an increase of about 24,000 since the start of the year, largely driven by strong gains in the stock funds in the first half of the year. That figure was up by about 28,000 since June 2022.
The number of accounts valued at between $750,000 and $1 million fell just short of another 100,000, while some 214,000 accounts were valued between $500,000 and $750,000. That was up from about 88,000 and 198,000 at the start of the year and about 85,000 and 193,000 as of June 2022.
The largest account was nearly $7.6 million in the latest accounting; the largest at the beginning of the year—presumably, but not necessarily, owned by the same person—was just under $6.9 million at the start of the year and just under $7 million through June 2022.
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