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The Federal Retirement Thrift Investment Board (FRTIB) announced Friday that a computer belonging to Serco Inc, suffered a sophisticated cyber attack that resulted in the unauthorized access of personal information of approximately 123,000 TSP participants or other recipients of TSP payments.
Serco is a third party service provider, and the FBI informed the FRTIB and Serco of the incident in April 2012.
More information on the TSP participant data breach
Senator Daniel Akaka (D-HI) has introduced legislation that would encourage federal workers to save at least five percent of their pay in the Thrift Savings Plan.
Dubbed the Save More Tomorrow Act of 2012, the legislation follows the private sector model of automatic enrollment in 401(k) plans to encourage higher savings and participation rates. It builds upon the Thrift Savings Plan Enhancement Act of 2009 under which all federal employees are automatically enrolled in
The Thrift Savings Plan recently released the results of its participant survey conducted in October of 2011. The survey analyzed plan participants' satisfaction with TSP features, services, and communications as well as considering factors such as participants' retirement readiness.
According to the TSP, participants were selected at random, responses were kept confidential, and more than 8,200 participants completed the survey.
The survey results are highlighted
The C fund for the Thrift Savings Plan broke its string of four straight months of gains with a loss in April, down 0.62%. The other underlying stock funds were also down with the S fund losing 0.71% and the I fund losing 1.87%.
For the past twelve months, the C fund is still up 4.85% (11.94% for the year-to-date) while the S fund is down 1.24% over the past twelve months (up 13.64% for the year-to-date) and the I fund is down 12.49% but up 8.84% for the year-to-date.
The TSP's C fund is the big winner in the monthly returns for March 2012 with a return of 3.3%. For the year, this fund is now up 12.63%. So far in 2012, the biggest returns have come from the S fund with a year-to-date return of 14.45%. (See the 2012 monthly TSP returns table)
So far, 2012 has been a very good year for the Thrift Savings Plan. The fund with the lowest rate of return is the F fund with a year-to-date return of 0.32%. The G fund is in the same ballpark with