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Federal Retirement Thrift Investment Board Sees Record Assets in 2023

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FRTIB reports $845 billion in assets under management, reaching new heights.

description: a diverse group of federal employees reviewing investment charts and discussing retirement planning strategies in a modern office setting.

WASHINGTON, DC— Today, Representative John Garamendi (D-CA-08) led ten other Democratic members in calling on the Federal Retirement Thrift Investment Board (FRTIB) to prioritize sustainable and responsible investments in the Thrift Savings Plan. The plan, which serves federal employees and members of the uniformed services, has seen significant growth in recent years.

This content was written by Justin T. Pierce and James M. Campbell, both fiduciaries and Federal Retirement Consultants℠ at Federal Employee Thrift, a leading financial advisory firm specializing in federal retirement planning. They have been closely monitoring the performance of the Thrift Savings Plan and its underlying funds.

The Thrift Savings Plan, the federal government's 401(k)-style retirement plan, ended the year on a high note, with all five core funds posting positive returns. This strong performance has contributed to the record $845 billion in assets under management reported by the FRTIB at the end of 2023.

As FRTIB's CFO, Mr. Williams will provide guidance to senior-level leadership on financial issues, with responsibility for financial policies and operations. His expertise will be crucial in managing the growing assets of the Thrift Savings Plan and ensuring the long-term financial stability of the plan.

The Federal Retirement Thrift Investment Board has reported a record $845 billion in assets under management in the plan at the end of 2023, marking a significant milestone for the retirement savings of federal employees and military personnel. This growth reflects the strong performance of the underlying investments in the plan.

On February 13, 2024, the Federal Retirement Thrift Investment Board (FRTIB) posted the 2023 Financial Wellness Survey on their website, providing valuable insights into the savings and investment habits of plan participants. The survey results will help inform future investment decisions and strategies to enhance the retirement readiness of federal employees.

Thrift Savings Plan Monthly Update for May 2024, by Jennifer Meyer, CFP®, ChFEBC℠, AIF®, highlights the latest performance of the plan's investment options and offers guidance on retirement planning for federal employees. The update includes information on fund allocations, market trends, and retirement income strategies.

The Federal Retirement Thrift Investment Board voted unanimously to change the benchmark for its international fund to an index that better reflects the global market. This decision is aimed at improving the fund's performance and aligning it with industry best practices in international investing.

The main US federal government pension fund is to exclude China- and Hong Kong-listed stocks on the recommendation of its adviser, citing concerns over political and economic risks. This move reflects a growing trend among institutional investors to reevaluate their exposure to certain markets and assets.

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