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Real Estate Investment Bill Risks Slippery Slope for Thrift Savings Plan

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Publication Date: May 2006

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): David C. John

Topic: Banking and finance (Personal finance and saving)

Keywords: Social security; real estate

Type: Brief

Abstract:

H.R. 1578, introduced by Rep. Jon Porter (R-NV) with 177 cosponsors, would require the Thrift Savings Plan (TSP), a part of the federal government's employee retirement system, to offer a stock index fund based on Real Estate Investment Trusts (REITs). Forcing TSP to include a real estate investment fund would set a very dangerous precedent that could severely damage TSP's future. Decisions to include investment options in TSP should be made based on the needs of TSP members and not politics. Political imposition of investments on TSP risks losses for federal workers and retirees.