The use of live-agent chats continues to increase, up 35 percent since January. Image: Vitalii Vodolazskyi/Shutterstock.com
By: FEDweek StaffTSP investors are increasing their use of the Roth investment option, with nearly 2.4 million of the 6.8 million account holders having at least some money invested in that way, according to information presented at the latest monthly meeting of the TSP board.
Total investments in Roth balances—in which investments are made post-tax but are withdrawn along with their earnings tax-free—is $44 billion, up 31 percent over the last 12 months. Total TSP assets were $766 billion at the end of April, up some $40 billion for the year.
The presentation also showed that some 3,000 account holders have shifted some $200 million into investments in outside mutual funds one month short of the first anniversary of the launch of the mutual fund window option. The TSP has projected that 2 to 3 percent of participants will use that option within two to three years.
However, it said that use of another feature introduced last June, live-agent chats, continues to increase, up 35 percent since January to nearly 10,000 in April. There were nearly 90,000 interactions in April with the virtual assistant feature that also started at that time.
Deferred Resignation Periods about to End for Many; Overall 12% Drop
Retirement Surge Likely as Deferred Resignation Periods End
Senate Rejects Bills to Defer Shutdown; Familiar Process Lies Just Ahead
Senate Bill Would Override Trump Orders against Unions
Report Describes Impact of Shutdown on Employees, Agencies
TSP Adds Detail to Upcoming Roth Conversion Feature
See also,
How to Handle Taxes Owed on TSP Roth Conversions? Use a Ladder
The Best Ages for Federal Employees to Retire
Best States to Retire for Federal Retirees: 2025
