U.S. stocks fell in midday trading on Feb. 25, a day after the market's biggest drop in two years, as traders worried that the spreading coronavirus will threaten global economic growth. Richard Drew / AP
TSP Returns Plummet Amid Coronavirus Worries
Nearly all of the offerings in the federal government’s 401(k)-style retirement savings program took a dive last month, mirroring volatility across the stock market.
Portfolios in the federal government’s 401(k)-style retirement savings program mostly plummeted in February, as investors feared disruptions because of the novel coronavirus outbreak.
The common stocks of the Thrift Savings Plan’s C Fund had the worst performance last month, falling 8.24%. So far this year, the C Fund has lost 8.28%.
The small- and mid-size businesses in the S Fund lost 8.01% in February, bringing its 2020 losses to 8.58%. The I Fund, which is made up of international investments, fell 7.74% last month. So far this year, the I Fund has lost 10.25%.
The fixed income bonds in the F Fund gained 1.82% last month, bringing its gains this year to 3.77%. And the G Fund, which is made up of government securities, grew 0.13% in February. So far in 2020, the G Fund has gained 0.30%.
All of the TSP’s lifecycle (L) funds ended February in the red. The L Income Fund, designed for participants already making withdrawals, fell 1.52%; L 2020, 1.76%; L 2030, 4.65%; L 2040, 5.58%; and L 2050, 6.39%.
So far this year, the L Income Fund lost 1.51%; L 2020, 1.77%; L 2030, 5.08%; L 2040, 6.14%; and L 2050, 7.06%.
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