The TSP’s C Fund increased 1.68% in January, the best performance within the federal government's 401(k)-style retirement savings plan. miniseries / Getty Images
Federal retirement savings plan opens 2024 with a mixed bag
Only two of the five core funds within the federal government’s 401(k)-style retirement savings plan posted gains last month.
The federal government’s 401(k)-style retirement savings program had a bit of a bump start to 2024, as only two of the Thrift Savings Plan’s five core offerings finished January in the black.
The TSP’s C Fund, which is made up of large- and mid-size businesses, posted the best performance last month, increasing 1.68%. The G Fund, which is made up of government securities, was the only other winner, growing by its statutorily mandated rate of 0.34%.
The fixed income (F) fund declined slightly, finishing January 0.19% in the red. The small- and mid-size businesses of the S Fund had the worst performance in the savings plan, losing 2.41% in value last month.
The international (I) fund similarly faltered, falling 0.22% in January.
The TSP’s lifecycle (L) funds, which shift to more conservative investment options as participants get closer to retirement, all saw modest gains in January. The L Income Fund, designed for people who have already begun making withdrawals, increased 0.36%; L 2025, 0.37%; L 2030, 0.41%; L 2035, 0.41%; L 2040, 0.41%; L 2045, 0.40%; L 2050, 0.41%; L 2055; 0.45%; L 2060, 0.45%; and L 2065, 0.45%.