Off-Topic: No Suffering with the Plebs
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Name:
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Talullahhound
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Subject:
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No Suffering with the Plebs
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Date:
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7/5/2010 4:53:46 PM
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I'm not sure that I would agree that Federal Employees have a great pension system anymore. The one I was lucky enough to retire under, the old system, is outanding. For me, TSP was optional.
The new system relies on TSP, SS, and a small piece of a government pension. The government matches their TSP contributions, but I don't believe they match it 100%. So for those who contribute the maximum to the TSP every year, and invest it smartly, can do pretty well, assuming the fund managers are smart. Where it falls down is that there is no mandatory requirement to invest X% per year and if someone doesn't make a significant contribution, they may be facing a rather bleak retirement. They have started a couple of "lifetime funds" that basically shifts your money around for you depending on your age and goals, but that only helps if you contribute.
I'm not sure I would say that the gains of the TSP have been all that great. The stock fund is indexed to the S&P, not the DOW. It may be true that it has had gains every year, but I wouldn't call them significant.
Just my thoughts...
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