The Emergency Relief for Federal Workers Act would clarify that lapses in appropriations qualify federal workers to take a hardship withdrawal from the federal government’s 401(k)-style retirement savings program and eliminate the associated 10% penalty in those instances.
While domestic investments in the federal government’s 401(k)-style retirement savings program posted gains last month, its international fund faltered.
Not all money in a Roth Thrift Savings Plan account is automatically tax-free, and there are several things to consider before making a withdrawal to avoid tax and other penalties.
Del. Eleanor Holmes Norton, D-D.C., has brought back legislation that would create an inspector general for the Federal Retirement Thrift Investment Board, while the Senate Veterans’ Affairs Committee’s ranking member argues the department is too slow in implementing legislation.
Portfolios invested in American businesses weighed down an otherwise positive month for the federal government’s 401(k)-style retirement savings program.
Only two portfolios in the federal government’s 401(k)-style retirement savings program ended last month in the black, ending a three-month run of gains.