US Federal employees will have two new investment funds to put their pension savings into, after the Federal Retirement Thrift Investment Board published new rules for the Thrift Savings Plan.
Under the new rules, federal employees will be able to put their pension money into two new investment funds, the I Fund and the S Fund. Effective May 1, employees will be able to invest in the S Fund, a Small Capitalisation Stock Index Fund.
The S Fund will comprise a portfolio designed to track the performance of an index of common stocks the aggregate market value of which represents the United States equity markets, excluding the common stocks held in the Common Stock Index Investment Fund (C Fund).
According to the FRT Investment Board, the I Fund will track the performance of common stocks which will be a “reasonably complete representation,” of the international equity markets.
By Geoffrey Ho
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