The company will initially offer the service free to all 2.4 million federal participants of the TSP, providing access to personalized investment advice to help them choose among the fund alternatives available in their TSP account in order to plan for retirement.
Financial Engines said it was the first online investment advisor to extend its advice service to all federal employees.
Currently assets in the TSP total approximately $95 billion. The plan covers both Federal Employees’ Retirement System (FERS) and Civil Service Retirement System (CSRS) employees, and consists of three funds:
- Government Securities Investment (G) Fund
- Common Stock Index Investment (C) Fund
- Fixed Income Index Investment (F) Fund