The Thrift Savings Plan’s “lifecycle” funds, also known as the L Funds, would become the default investment for new federal employees under legislation approved by voice vote June 25 by the Senate Homeland Security and Governmental Affairs Committee.
The TSP’s L Funds provide age-appropriate investments and are tailored to suit individual participants’ timelines and needs. Currently, newly hired federal employees who don’t designate a TSP investment fund are put into the Government Securities Investment Fund, or G Fund, which invests in government securities.
The legislation approved by the Senate committee, the Smart Savings Act (S. 2117), was introduced by Sen. ...
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