The Thrift Savings Plan got off to a rocky start in 2015, with several funds in the red, according to the latest data from the Federal Retirement Thrift Investment Board.

The C Fund, invested in common stocks, fell 2.99 percent in January, while the S Fund, invested in small and midsize companies, dipped 1.85 percent last month. And as in December, all the lifecycle (L) funds posted negative returns in January.

Three funds experienced boosts in January: the F Fund, invested in fixed income bonds, was up 2.13 percent and the international (I) fund increased 1.19 percent. The typically stable government securities (G) fund rose 0.18 percent last month, the same rate as in December.

Still, all the funds except one were in the black over the last 12 months. The C Fund performed the best, increasing 14.32 percent during that time. The S Fund grew 7.86 percent during the last 12 months, while the F Fund rose 7.31 percent and the G Fund increased 2.27 percent during that time. The I Fund is down 0.10 percent since January 2014.

The plan’s lifecycle offerings -- which move participants to a more conservative mix of investments as they near retirement – all dropped in January. L Income, for those who have already started withdrawing money, decreased 0.08 percent for the month; L 2020 decreased 0.58 percent; L 2030 fell 0.83 percent; L 2040 tumbled 1.02 percent; and L 2050 dropped 1.18 percent. The funds, however, were in the black overall during the last 12 months. L Income was up 4.13 percent, L 2020 gained 6.12 percent, L 2030 increased 7.04 percent, L 2040 grew 7.66 percent, and L 2050 was up 8.03 percent.

President Obama in December signed into law the bipartisan Smart Savings Act, which changes the default enrollment fund in the Thrift Savings Plan for new hires from the safe but slow-growth G Fund to the more diverse, age-appropriate lifecycle funds. The law only applies to new federal employees who are auto-enrolled in the TSP. It does not affect TSP participants who are currently auto-enrolled. The board has to issue rules on implementation before the changes take effect. That likely will happen in October 2015.

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