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Brokers Lure Soldiers Out of Low-Fee Federal Retirement Plan
Bloomberg Link to more items from this source
Aug. 12, 2014
"Workers who leave jobs with the federal government transferred $10 billion last year out of the Thrift Savings Plan. Forty-five percent of participants who left federal service in 2012 removed all of their funds from the plan and closed their accounts by the end of 2013.... 'Swayed by the financial industry's marketing efforts,' Thrift Savings Plan members in recent years 'have become an even more popular target' for companies luring them into higher-cost IRAs, Gregory Long, the plan's executive director, wrote[.]"

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