The nation’s largest retirement program — the federal government’s Thrift Savings Plan — will begin offering ESG funds in the summer of 2022 through a new mutual fund “window” similar to a brokerage option.
As reported by Barron’s, the fund program will be run by Alight, a Lincolnshire, Ill.-based administrator, which will work with Accenture Federal Services, the plan’s record-keeper.
The plan currently offers ten target-date funds and five individual funds managed by BlackRock and State Street Global Advisors. The new window will include more than 5,000 funds.
The TSP has about $760 billion in assets and covers about 6.3 million federal employees and service members.
According to the Plan Sponsor Council of America, just 2.9% of plans that it surveys annually offer an ESG or socially responsible fund option, and only about 0.1% of total plan assets are in those funds.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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