Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Nova 401(k) Associates
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|Billions Flow Out of TSP Due to COVID|
Jan. 28, 2021
"[N]early $3 billion exited the Thrift Savings Plan this year as a result of the COVID-19 pandemic.... TSP participants took out 3,043 CARES Act loans over the normal $50,000 cap, for a total of $229 million. And 119,720 participants withdrew money using the CARES Act flexibilities, totaling $2.9 billion. Despite these figures, assets in the TSP grew in 2021."
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