Only two portfolios in the federal government’s 401(k)-style retirement savings program ended last month in the black, ending a three-month run of gains.
A GAO report found that the Federal Retirement Thrift Investment Board did not ensure that acquisition management practices were fully enforced when it modernized the system that oversees its 401(k)-style retirement savings program.
After two months of sustained gains, only one portfolio in the federal government’s 401(k)-style retirement savings program finished last month in the black.