mlk_man
08-08-2005, 09:41 AM
TSP’s new L Funds draw 26,000 investors
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More than 26,000 Thrift Savings Plan participants enrolled in the plan’s new L Funds as of Aug. 4, investing $1.27 billion during the first four days the new accounts were offered.
TSP developed the so-called lifestyle funds to establish suitable investment mixes for participants who do not want to decide on their own how to allocate their contributions among TSP’s five stock, bond and securities funds. The L Funds automatically allocate participants’ contributions based on when they intend to withdraw funds.
Initial investments:
• $102 million in L 2040, the fund designed for participants whose withdrawals begin 2035 and later.
• $200 million in L 2030, for participants who plan to begin withdrawals between 2025 and 2034.
• $468 million in L 2020, for participants who plan to begin withdrawals between 2015 and 2024.
• $387 million in L 2010, for participants who plan to begin withdrawals between 2008 and 2014.
• $113 million in L Income, for participants currently making withdrawals or beginning withdrawals before 2008.
TSP has 3.4 million participants with investments totaling $160 billion.
class=main3
More than 26,000 Thrift Savings Plan participants enrolled in the plan’s new L Funds as of Aug. 4, investing $1.27 billion during the first four days the new accounts were offered.
TSP developed the so-called lifestyle funds to establish suitable investment mixes for participants who do not want to decide on their own how to allocate their contributions among TSP’s five stock, bond and securities funds. The L Funds automatically allocate participants’ contributions based on when they intend to withdraw funds.
Initial investments:
• $102 million in L 2040, the fund designed for participants whose withdrawals begin 2035 and later.
• $200 million in L 2030, for participants who plan to begin withdrawals between 2025 and 2034.
• $468 million in L 2020, for participants who plan to begin withdrawals between 2015 and 2024.
• $387 million in L 2010, for participants who plan to begin withdrawals between 2008 and 2014.
• $113 million in L Income, for participants currently making withdrawals or beginning withdrawals before 2008.
TSP has 3.4 million participants with investments totaling $160 billion.