Through October, the average balance for a FERS account holder was about $192,000 and for a CSRS account holder about $218,000—up about $16,000 and $21,000 year-to-date. Image: Vitalii Stock/Shutterstock.com
By: FEDweek StaffThe number of TSP account holders with at least $1 million in their accounts has increased from just under 117,000 to above 155,000 year-to-date, reflecting positive returns in the TSP’s stock-based funds.
The number through September 30 represents about 2 percent of what is now more than 7.1 million account holders, including both current and former federal and military personnel. The count had been just under 95,000 as of September 30, 2023.
To date this year, the number of account holders with between $750,000 and $1 million has grown by about 14,000 to about 122,000; those with $500,000 to $750,000 by about 20,000 to about 245,000; and those with $250,000 to $500,000 by about 17,000 to about 592,000.
Through October, the average balance for a FERS account holder was about $192,000 and for a CSRS account holder about $218,000—up about $16,000 and $21,000 year-to-date.
Also through October, the common stock C fund—which accounts for 43.8 percent of money in the TSP, counting that fund’s share in the lifecycle L funds—was up 20.93 percent. The small company stock S fund (11.7 percent of investments) was up 12.35 percent and the international stock I fund (9.1 percent of investments) was up 7.31 percent.
FERS and Social Security are Big, but You’ll Want a Fat TSP, writes John Grobe:
It’s not uncommon for a federal employee to feel that they can’t afford to contribute to the Thrift Savings Plan, or to say they can’t afford to increase their contributions. However, nothing is more important to a comfortable retirement than a large TSP balance.
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See also,
Calculating Service Credit for Sick Leave At Retirement
FERS Supplement vs The 10% Pension Bonus
How Your FERS, Social Security and TSP Payments Get Taxed
