Monthly update from the Thrift Savings Plan
Kim Weaver, director of External Affairs at the Federal Retirement Thrift Investment Board, discusses the TSP initiatives outlined at the board’s monthly meeting, and details how selections will be made for new fund managers.
The Federal Retirement Thrift Investment Board has some big decisions to make. The TSP board discussed six initiatives at its March monthly meeting. Among these initiatives, they determined that the “F” and “I” funds need new managers, and that some changes needed to be made to how the plan operates. The process by which they will select new management for the funds is similar to other procurement methods.
“We pick the index that we track, and we put out an RFP on FedBizOpps. Each fund is little bit different because each fund varies in size. The I‑fund is just shy of $30 billion, the C‑fund is just shy of $200 billion. Obviously, you have different requirements for those. But then we ask them ‘talk to us about how you are going to track the index as closely as possible. How are you going to be a fiduciary, how are you going to secure the information we provide you…’ there’s any number of things.” said Kim Weaver, director of External Affairs at the Federal Retirement Thrift Investment Board.