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EagleDog  
#1 Posted : Monday, September 14, 2020 8:50:08 AM(UTC)

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What will a new TSP board do with the I fund?
September 14, 2020

The Thrift Savings Plan doesn’t have a new board just yet, but it got another step closer this past week.

The Senate Homeland Security and Governmental Affairs heard from the president’s nominees to replace three of the long-serving members of the Federal Retirement Thrift Investment Board.

The committee will vote to advance the nominees next week.

The hearing almost turned postal — board nominee John Barger is a current member of the U.S. Postal Board of Governors and some senators took full advantage to air their ongoing concerns with the USPS — but it didn’t quite get there.

Instead, the nominated members got a few minutes to explain their vision for the TSP.

After all it was almost a year ago that a bipartisan group of lawmakers first raised concerns about the TSP’s plans to move the international fund to a new, emerging markets index that tracked Chinese securities.

Those plans grabbed the attention of the White House earlier this spring, and the president nominated new people to replace three of the long-serving members on the Federal Retirement Thrift Investment Board.

The board voted to hold off on making the I fund changes, instead choosing to defer the decision to the incoming members once they cleared Senate confirmation.

This past spring’s debate over the I fund prompted media coverage from outlets who probably have never heard of the TSP or know what the FRTIB stands for. The board itself debated its own role, which Congress established back in 1986.

Congressional Democrats accused the administration of playing politics with the TSP.

But if and when this issue resurfaces, the incoming board members should have enough expertise to pick the decision back up.

When asked, Barger offered a glowing review of Postmaster General Louis DeJoy. But beyond the postal experience, Barger chaired the Board of the Los Angeles County Employees Retirement Association (LACERA), the largest county pension fund in the country.

Christopher Burnham was treasurer for the state of Connecticut, had a few stints at the State Department.

Frank Dunlevy, who’s nominated to serve as the board’s chairman, holds multiple leadership positions at the U.S. International Development Fund, formerly known as the Overseas Private Investment Corporation.

So where do they stand on the prospect of exposing federal employee pensions to Chinese companies? Here’s what they had to say.

Barger: “I have great concerns about investing in China because of the reporting standards with Chinese firms, among other things. I spent some time in China while I was chairing the board of LACERA and had a chance to examine firsthand what the standards were that they applied. I would have concerns about that. I would want to look into the standards the Chinese are imposing on their companies and how that stacks up with the investable assets for our beneficiaries. You have to look at diversification. You have to look at the impact of diversification and whether it’s really needed to invest in China given the risk profile.

“Fundamentally though, I will be guided what I consider to be my fiduciary duty and that is a duty of care and will to the beneficiaries of the fund. Certainly part of that is having a retirement plan that is investing in companies that are safe and secure.”

Dunlevy: “Most people are unaware that you get a lot of international exposure in the S&P 500. Fifteen-to-40% of the earnings of the average S&P 500 company is from international, and somewhere between 7-and-15% is from China. So you’re getting the kind of exposure from those growth markets that you may want, but you’re getting them through the accounting standards of the United States, review by the SEC and you’re not facing this specific risk that happens when you invest in China.”

When Burnham was a legislator in Connecticut, the state legislature encountered a similar debate over whether to divest government pension plans from certain countries.

Burnham: “My fiduciary duty to the men and women of Connecticut is to make the highest return at a reasonable risk, and I continue to believe that we as fiduciaries need to look at that risk. I think it’s very risky to expand beyond what is already being offered internationally by the Thrift Savings Plan.”

So what’s next?

Sure, the I fund may come back up for debate, eventually. When it does, look for Congress to take a hand at the wheel and steer the conversation.

https://federalnewsnetwo...oard-do-with-the-i-fund/
EagleDog  
#2 Posted : Monday, September 14, 2020 8:54:03 AM(UTC)

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Roger's favorite fund :)
roger.d  
#3 Posted : Monday, September 14, 2020 8:57:03 AM(UTC)
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;)
Wicked cool guy  
#4 Posted : Monday, September 14, 2020 9:05:54 AM(UTC)
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I appreciate Dunlevy's comments regarding international exposure within the S&P 500. Most people don't see that and give away money by investing in the I fund.
roger.d  
#5 Posted : Monday, September 14, 2020 9:13:20 AM(UTC)
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Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
;)


see you post crap about me but you never call out eagledog for this!

""you're not as childish as postalvet (who has always got on my nerves)" - Seadogg"


does not matter that seadog said it ONLY eagledog continues it.



so why shouldn't I????


Your beef is with Seadogg.

https://forum.federalsou...&m=972812#post972812
roger.d  
#6 Posted : Monday, September 14, 2020 9:16:20 AM(UTC)
roger.d

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Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: EagleDog Go to Quoted Post





"you're not as childish as postalvet (who has always got on my nerves)" - Seadogg











eagledogs favorite saying



















why is that?

























to keep up the crap
































what else





















could it






















be????

https://forum.federalsou...&m=972812#post972812


Your beef is with Seadogg.

https://www.youtube.com/watch?v=1tTnHtYLV8E


postalvet  
#7 Posted : Monday, September 14, 2020 9:25:44 AM(UTC)
postalvet

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Originally Posted by: roger.d Go to Quoted Post


seadog posted it once




eagledog posts it with every post!!!







why is that so hard for you to understand after you telling me all the time my reading comp is bad????
answers come from experience

Was a carrier despite what

Just Cause & rodger.d say

no one else has to prove anything

rip rbg
roger.d  
#8 Posted : Monday, September 14, 2020 9:29:12 AM(UTC)
roger.d

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Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post


seadog posted it once




eagledog posts it with every post!!!







why is that so hard for you to understand after you telling me all the time my reading comp is bad????


https://forum.federalsou...&m=972812#post972812


Your beef is with Seadogg.

https://www.youtube.com/watch?v=1tTnHtYLV8E
postalvet  
#9 Posted : Monday, September 14, 2020 9:33:55 AM(UTC)
postalvet

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Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post


seadog posted it once




eagledog posts it with every post!!!







why is that so hard for you to understand after you telling me all the time my reading comp is bad????


https://forum.federalsou...&m=972812#post972812


Your beef is with Seadogg.









so this is what you are going to do just keep reposting?





fine with me


















more crap to answer.
answers come from experience

Was a carrier despite what

Just Cause & rodger.d say

no one else has to prove anything

rip rbg
roger.d  
#10 Posted : Monday, September 14, 2020 9:44:54 AM(UTC)
roger.d

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Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post


seadog posted it once




eagledog posts it with every post!!!







why is that so hard for you to understand after you telling me all the time my reading comp is bad????


https://forum.federalsou...&m=972812#post972812


Your beef is with Seadogg.









so this is what you are going to do just keep reposting?





fine with me


















more crap to answer.


I obviously have no clue as to how you look to people reading this board.
postalvet  
#11 Posted : Monday, September 14, 2020 9:49:04 AM(UTC)
postalvet

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Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post


seadog posted it once




eagledog posts it with every post!!!







why is that so hard for you to understand after you telling me all the time my reading comp is bad????


https://forum.federalsou...&m=972812#post972812


Your beef is with Seadogg.









so this is what you are going to do just keep reposting?





fine with me


















more crap to answer.


I obviously have no clue as to how you look to people reading this board.









yup very fast


























can i keep up




















we



will see






























hahahahahahahahahahahahahahahahaha
answers come from experience

Was a carrier despite what

Just Cause & rodger.d say

no one else has to prove anything

rip rbg
roger.d  
#12 Posted : Monday, September 14, 2020 9:50:03 AM(UTC)
roger.d

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Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: postalvet Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post


seadog posted it once




eagledog posts it with every post!!!







why is that so hard for you to understand after you telling me all the time my reading comp is bad????


https://forum.federalsou...&m=972812#post972812


Your beef is with Seadogg.









so this is what you are going to do just keep reposting?





fine with me


















more crap to answer.


I obviously have no clue as to how you look to people reading this board.









yup very fast


























can i keep up




















we



will see






























hahahahahahahahahahahahahahahahaha


I obviously have no clue as to how you look to people reading this board.
postalvet  
#13 Posted : Monday, September 14, 2020 9:54:27 AM(UTC)
postalvet

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Originally Posted by: roger.d Go to Quoted Post


I obviously have no clue as to how you look to people reading this board.




not my board.




you obviously have no clue for anything!!


answers come from experience

Was a carrier despite what

Just Cause & rodger.d say

no one else has to prove anything

rip rbg
Ar509  
#14 Posted : Monday, September 14, 2020 6:14:05 PM(UTC)
Ar509

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Originally Posted by: EagleDog Go to Quoted Post
What will a new TSP board do with the I fund?
September 14, 2020

The Thrift Savings Plan doesn’t have a new board just yet, but it got another step closer this past week.

The Senate Homeland Security and Governmental Affairs heard from the president’s nominees to replace three of the long-serving members of the Federal Retirement Thrift Investment Board.

The committee will vote to advance the nominees next week.

The hearing almost turned postal — board nominee John Barger is a current member of the U.S. Postal Board of Governors and some senators took full advantage to air their ongoing concerns with the USPS — but it didn’t quite get there.

Instead, the nominated members got a few minutes to explain their vision for the TSP.

After all it was almost a year ago that a bipartisan group of lawmakers first raised concerns about the TSP’s plans to move the international fund to a new, emerging markets index that tracked Chinese securities.

Those plans grabbed the attention of the White House earlier this spring, and the president nominated new people to replace three of the long-serving members on the Federal Retirement Thrift Investment Board.

The board voted to hold off on making the I fund changes, instead choosing to defer the decision to the incoming members once they cleared Senate confirmation.

This past spring’s debate over the I fund prompted media coverage from outlets who probably have never heard of the TSP or know what the FRTIB stands for. The board itself debated its own role, which Congress established back in 1986.

Congressional Democrats accused the administration of playing politics with the TSP.

But if and when this issue resurfaces, the incoming board members should have enough expertise to pick the decision back up.

When asked, Barger offered a glowing review of Postmaster General Louis DeJoy. But beyond the postal experience, Barger chaired the Board of the Los Angeles County Employees Retirement Association (LACERA), the largest county pension fund in the country.

Christopher Burnham was treasurer for the state of Connecticut, had a few stints at the State Department.

Frank Dunlevy, who’s nominated to serve as the board’s chairman, holds multiple leadership positions at the U.S. International Development Fund, formerly known as the Overseas Private Investment Corporation.

So where do they stand on the prospect of exposing federal employee pensions to Chinese companies? Here’s what they had to say.

Barger: “I have great concerns about investing in China because of the reporting standards with Chinese firms, among other things. I spent some time in China while I was chairing the board of LACERA and had a chance to examine firsthand what the standards were that they applied. I would have concerns about that. I would want to look into the standards the Chinese are imposing on their companies and how that stacks up with the investable assets for our beneficiaries. You have to look at diversification. You have to look at the impact of diversification and whether it’s really needed to invest in China given the risk profile.

“Fundamentally though, I will be guided what I consider to be my fiduciary duty and that is a duty of care and will to the beneficiaries of the fund. Certainly part of that is having a retirement plan that is investing in companies that are safe and secure.”

Dunlevy: “Most people are unaware that you get a lot of international exposure in the S&P 500. Fifteen-to-40% of the earnings of the average S&P 500 company is from international, and somewhere between 7-and-15% is from China. So you’re getting the kind of exposure from those growth markets that you may want, but you’re getting them through the accounting standards of the United States, review by the SEC and you’re not facing this specific risk that happens when you invest in China.”

When Burnham was a legislator in Connecticut, the state legislature encountered a similar debate over whether to divest government pension plans from certain countries.

Burnham: “My fiduciary duty to the men and women of Connecticut is to make the highest return at a reasonable risk, and I continue to believe that we as fiduciaries need to look at that risk. I think it’s very risky to expand beyond what is already being offered internationally by the Thrift Savings Plan.”

So what’s next?

Sure, the I fund may come back up for debate, eventually. When it does, look for Congress to take a hand at the wheel and steer the conversation.

https://federalnewsnetwo...oard-do-with-the-i-fund/


I invested in the I fund for a couple of years and then got out, seeing that the overall returns were poor compared to the US funds and not really getting better. It's a lousy fund IMO.

EagleDog  
#15 Posted : Tuesday, September 15, 2020 8:40:18 AM(UTC)

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Originally Posted by: Ar509 Go to Quoted Post
I invested in the I fund for a couple of years and then got out, seeing that the overall returns were poor compared to the US funds and not really getting better. It's a lousy fund IMO.

Think long term.
Stay diversified.
Keep an open mind.

Warren Buffett (noted value investor) has started to invest internationally over the past 12 months (Japan).
He sees value there.
Why is this news? He notoriously avoids international stocks like the plague. He sees something.
roger.d  
#16 Posted : Tuesday, September 15, 2020 1:32:11 PM(UTC)
roger.d

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Originally Posted by: EagleDog Go to Quoted Post
Originally Posted by: Ar509 Go to Quoted Post
I invested in the I fund for a couple of years and then got out, seeing that the overall returns were poor compared to the US funds and not really getting better. It's a lousy fund IMO.

Think long term.
Stay diversified.
Keep an open mind.

Warren Buffett (noted value investor) has started to invest internationally over the past 12 months (Japan).
He sees value there.
Why is this news? He notoriously avoids international stocks like the plague. He sees something.


Warren Buffett is able to meticulous go over the financials of a company before he buys a single share.

The I fund (and all index mutual funds) buys what makes up the index that it tracks. You are trying to compare apples to bicycles.

Thinking long term, looking at the past performance, even including the early 2000's when international beat the US, international still lags behind the US in a long term look.

Edited by user Tuesday, September 15, 2020 1:34:17 PM(UTC)  | Reason: Spell check

roger.d  
#17 Posted : Tuesday, September 15, 2020 2:10:28 PM(UTC)
roger.d

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https://www.tspfolio.com...0as%20the%20MSCI%20EAFE.

TSP I Fund

Last Update: 9/14/2020
Close: $31.3233
Change: 0.72%
YTD: -4.26%
1 year: 2.21%
3 years: 2.24%
5 years: 5.59%
10 years: 5.46%
Since Inception: 5.5%

Inception date 5/1/2001


https://www.tspfolio.com/tspcfund

Last Update: 9/14/2020
Close: $50.1418
Change: 1.31%
YTD: 6.10%
1 year: 14.58%
3 years: 12.82%
5 years: 13.89%
10 years: 14.04%
Since Inception: 10.4%
Inception date 1/29/1988


If you believe that the international markets will beat the US going forward, have at it.
Wicked cool guy  
#18 Posted : Tuesday, September 15, 2020 3:43:26 PM(UTC)
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Originally Posted by: roger.d Go to Quoted Post
https://www.tspfolio.com/tspifund#:~:text=The%20TSP%20I%20Fund%20is,known%20as%20the%20MSCI%20EAFE.

TSP I Fund

Last Update: 9/14/2020
Close: $31.3233
Change: 0.72%
YTD: -4.26%
1 year: 2.21%
3 years: 2.24%
5 years: 5.59%
10 years: 5.46%
Since Inception: 5.5%

Inception date 5/1/2001


https://www.tspfolio.com/tspcfund

Last Update: 9/14/2020
Close: $50.1418
Change: 1.31%
YTD: 6.10%
1 year: 14.58%
3 years: 12.82%
5 years: 13.89%
10 years: 14.04%
Since Inception: 10.4%
Inception date 1/29/1988


If you believe that the international markets will beat the US going forward, have at it.


Ehhh.... what's a few hundred thousand bucks at retirement?
EagleDog  
#19 Posted : Wednesday, September 16, 2020 9:29:55 AM(UTC)

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Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: EagleDog Go to Quoted Post
Warren Buffett (noted value investor) has started to invest internationally over the past 12 months (Japan).
He sees value there.
Why is this news? He notoriously avoids international stocks like the plague. He sees something.

Warren Buffett is able to meticulous go over the financials of a company before he buys a single share.
The I fund (and all index mutual funds) buys what makes up the index that it tracks. You are trying to compare apples to bicycles.

Buffett essentially invested in Japan index funds.
He invested nearly $7 billion into Japan's five leading trading companies. These trading companies are extremely diversified and their operations span multiple industries (mining, energy, food, meat processing, aerospace, retail, real estate, finance, consulting, logistics, etc.).

If you like what Buffet is doing and also currently see value in international companies, you should consider the I Fund.
FYI: Japan is the country most represented in the I Fund.


roger.d  
#20 Posted : Wednesday, September 16, 2020 10:20:08 AM(UTC)
roger.d

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Originally Posted by: EagleDog Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
Originally Posted by: EagleDog Go to Quoted Post
Warren Buffett (noted value investor) has started to invest internationally over the past 12 months (Japan).
He sees value there.
Why is this news? He notoriously avoids international stocks like the plague. He sees something.

Warren Buffett is able to meticulous go over the financials of a company before he buys a single share.
The I fund (and all index mutual funds) buys what makes up the index that it tracks. You are trying to compare apples to bicycles.

Buffett essentially invested in Japan index funds.
He invested nearly $7 billion into Japan's five leading trading companies. These trading companies are extremely diversified and their operations span multiple industries (mining, energy, food, meat processing, aerospace, retail, real estate, finance, consulting, logistics, etc.).

If you like what Buffet is doing and also currently see value in international companies, you should consider the I Fund.
FYI: Japan is the country most represented in the I Fund.





Cite where he bought a Japanese index fund.

My previous research shows he bought shares in 4-6 businesses.
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