Save the Federal employee from the TSP (vanity)

The Official TSP Home Page, maintained by FRTIB ^ | February 4, 2005 | NonValueAdded

[NonValueAdded]

Our DemocRATic Congress critters have brought to our attention a DANGEROUS FRAUD that is perpetrated on all of our valiant public employees! Those poor souls, only recently (1991) granted the benefits of Social Security, are FORCED to look toward PRIVATE ACCOUNTS for their financial security in their golden years. This is all hidden in the fancy packaging of something called Thrift Savings Accounts. See for yourself by clicking on the link provided for this post.

Oh sure, they make it LOOK safe and give you all these fancy choices, but behind it all the gubermint is simply making the rich fat cats on Wall Street richer and fatter. We know this because the DemocRATs and even some -gasp- Republicans are telling us that PRIVATE ACCOUNTS are a bad idea and that they must protect their constituents from this horrible proposal first put forth by FDR himself!

[NonValueAdded]

TAKE ACTION! Write your Congressional Representatives and Senators right away. Urge them to save our public employees from the horrors of the stock market which some have likened to "sending our grannies to Vegas to play the slot machines." Don't let our poor public employees be subject to this risk for another year. Transform TSP into SocSec Lite. Eliminate private ownership and the inheritability of account balances. Let the employees earn a safer, more rspectable guaranteed rate of return of 2.5% which the Fed thinks is good enough for the rest of us. Get that money out of the stock market and into the safety of the general fund. Use the same IOUs that the gubermint deems safe enough for the rest of us.

Let's see how that goes over with the RAT's AFSCME base. Hehehehe

[PhiKapMom]

ROFLOL!!! I love your post -- when the President was speaking I was sure he was going to say Thrift Savings Plan and sure enough he did. I forget the people under FERS have their amounts matched by the Government.

Under CSRS with no matching, it is still a great deal.

[HMFIC]

I LOVE TSP!

Slapping 14% off of the top in there and Uncle tosses in another 5%.

I pick my funds and the return is far better than the crap SS brings in. Better still, my HEIRS GET IT and NOT the SS shaft.

[Phantom Lord]

Self bump!

[PAR35]

only recently (1991) granted the benefits of Social Security,

That date is wrong. The correct date is probably 1984. If they are that far wrong on a key date, you have to wonder what else they got wrong.

[NonValueAdded]

The "they" that got it wrong would be me. There was relevant legislation in both those years (84 & 91). If started in 84, government employees would have accumulated enough participation quarters to be considered "full" participants.

1984 or 1991 notwithstanding, the point of my satire is that the government runs a "private account" system for federal employees. They should do so and from the replies above, it is indeed a good thing. However, if private accounts are as bad as the democRATs suddenly feel they are, then let's call their bluff and "save" the TSP from the horrors of the financial markets.

[PAR35]

There was relevant legislation in both those years (84 & 91). If started in 84, government employees would have accumulated enough participation quarters to be considered "full" participants.

Yes.

However, if private accounts are as bad as the democRATs suddenly feel they are, then let's call their bluff and "save" the TSP from the horrors of the financial markets.

Retirees under the old Civil Service system are generally a lot better off than retirees will be under FERS. So I don't think you'd run into a lot of opposition from the Unions if you pushed for a switch back from FERS to Civil Service retirement.

[Recon by Fire]

I believe that I read somewhere that under the new Personnel System for Gubbmint workers, that the "union" would be gone.