The Thrift Savings Plan’s G Fund was the lone federal retirement fund to show positive returns in September. Andrew Brookes / Getty Images
TSP funds continued to fall in September
For the second straight month, the vast majority of the portfolios in the federal government’s 401(k)-style retirement savings program declined in value.
Nearly every portfolio within the federal government’s 401(k)-style retirement savings program tumbled in value for the second straight month in September.
The Thrift Savings Plan’s G Fund, which is made up of government securities, was the only portfolio to post gains last month, increasing by its statutorily mandated rate of 0.35%. So far this year, the G Fund has gained 2.98% in value.
The small- and mid-size businesses of the S Fund saw the worst performance, finishing September 4.90% in the red and bringing its 2023 gains down to 8.84% in the black. The common stocks of the C Fund lost 4.77% last month. So far this year, the C Fund has grown by 13.05%.
The international (I) fund fell 3.51% in September, bringing its growth since January down to 6.94%. And the fixed income (F) fund lost 2.54% last month. So far this year, the F Fund is 1.05% in the red.
All of the TSP’s lifecycle funds, which shift to more stable investments as participants get closer to retirement, saw similar losses in September. The L Income Fund, designed for participants who have already begun making withdrawals, fell 1.00%; L 2025, 1.53%; L2030, 2.66%; L 2035, 2.96%; L 2040, 3.24%; L 2045, 3.48%; L 2050, 3.71%; L 2055, 4.31%; L 2060, 4.31%; and L 2065, 4.32%.
So far this year, the L Income Fund has grown 4.65%; L 2025, 5.75%; L 2030, 7.32%; L 2035, 7.70%; L 2040, 8.11%; L 2045, 8.45%; L 2050, 8.81%; L 2055, 10.34%; L 2060, 10.33%; and L 2065, 10.33%.