Iraqi Troops Losing Savings in "Thrift" programme

[EmeraldCityGrl]

Apparently these accounts are similar to those bush wanted our
SS funds transferred to.

http://rawstory.com/news/afp/US_combat_troops_in_Iraq_battle_to__11082008.html

[louis-t]

1. Why not? They try everyting out on the troops first.

Way to support the troops. Jeez.:grr:

[scruffy]

2. They are referring to the Thrift Savings Plan (TSP) . .

which is the 401(k) type of plan available to Federal workers
and to the military.  It is only recently that members of the
military have been able to contribute to it, so it is NOT
something that has been "tried out on the military".
It's been around for a long time and has very high
participation within the Federal workforce. 

The TSP has 5 basic funds, plus the "Lifestyle"
funds, which are various combinations of the five basic funds.
 As with the overall stock market this year, most of the TSP
funds have had losses, with the exception of the G fund.  One
of its main advantages is that its management fees are
extremely low.

For those military personnel who are able to afford to
contribute, it is another way for them to save for their
retirement, over and above the 50% pension that they will get
later on.  And on the assumption that many plan participants
are young and won't be needing the proceeds from their plans
for many years, there is nothing wrong with them
participating.

see www.tsp.gov for more info