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Yes, and here is something Neil posted on LL
and Neil posted this and read down thru blog posts
and you may want to read this to start research into Blackrock
If you go to http://www.tsp.gov you will see that this is the portal for one of the retirement plans management system for federal judges (reference General Counsel letter also posted by this ScribD poster).
Look around and you will see that http://www.tsp.gov states it uses BlackRock.
BlackRock manages investments in MBS (mortgage backed securities) and ABS (asset based securities) etc.
The Federal Employee Retirement System (FERS) operates a series of mutual funds and other accounts in which government workers can invest their retirement funds. Some of the funds are managed by the Federal Retirement Thrift Investment Board, a U.S. government body, and other funds are managed under contract by the BlackRock Institutional Trust Company.
Federal employees would include FBI, SEC etc.
more on TSP
Types of TSP Investment Funds
There are a number of funds offered by the 2010 Thrift Savings Plan. The determination of which plan you are eligible to chose from starts with your coverage by the Federal Employees’ Retirement System (FERS), the TSP is one part of a three-part retirement package that also includes your FERS basic annuity and of course, your Social Security. If you are covered by the Civil Service Retirement System (CSRS) or are a member of the uniformed, the TSP is a supplement to your CSRS annuity or military retired pay. The following are the types of TSP funds that are available:
G Fund – This is a government securities fund. These types of funds are a unique type of government security not available to the general public and are backed by the full faith and credit of the US Government. The G Fund was the initial fund established by the TSP when it began operations on April 1, 1987.
F Fund- This TSP is a Fixed Income Index fund which is invested in the BlackRock’s U.S. Debt Index Fund. It tracks the Barclays Capital Aggregate Bond Index, a market capitalization-weighted index, very closely. The F Fund was made available to Federal employees back in January 1988, but was limited to only a portion of contributions. Starting in January 1991, all restrictions on F Fund contributions were lifted.
C Fund – This fund is a Common Stock Index fund. The C fund is invested in BlackRock’s Equity Index fund. Thus, it replicates the total return version of the S&P 500 index. The C Fund was also opened to federal employees in January 1988 and was subjected to the same restrictions as the F Fund until January 1991.
S Fund – This is a Small Capitalization Stock Index fund. It is invested in BlackRock’s Extended Market Index Fund. This ensures it tracks the Dow Jones U.S. Completion TSM index. The S Fund was opened to federal employees in May of 2001.
I Fund – International Stock Index fund is the final type of TSP. IT is invested in BlackRock’s EAFE Index Fund. Thus, it replicates the net version of the MSCI EAFE index (An index designed to measure the equity market performance of developed markets outside of the U.S. & Canada). The I Fund opened to employees in May 2001.
Summary of the Thrift Savings Plan
F,C,S, and I Funds
The G Fund assets are managed internally by the Federal Retirement Thrift Investment Board. The G Fund buys a nonmarketable U.S. Treasury security that is guaranteed by the U.S. Government. This means that the G Fund will not lose money.
F,C,S, and I Funds
The Federal Retirement Thrift Investment Board currently contracts BlackRock Institutional Trust Company, N.A. (BlackRock) to manage the F, C, S, and I Fund assets.
The Board invests the assets of the F, C, S, and I Funds in commingled trust funds managed by BlackRock. These trust funds are comprised of investments by tax-exempt institutions like the TSP, such as pension plans and endowments. Investing collectively in this way can be advantageous because it reduces trading costs. The securities held in these commingled funds are held in trust and they are not assets of BlackRock, nor can they be used to meet the financial obligations of BlackRock.
The F, C, S, and I Funds are index funds, each of which is invested in order to replicate the risk and return characteristics of its appropriate benchmark index. For example, the C Fund is invested in a stock index fund that fully replicates the Standard and Poor’s 500 (S&P 500) Index, a broad market index made up of the stocks of 500 large to medium-sized U.S. companies. The C Fund’s objective is to match the performance of the S&P 500. The F, C, S, and I Funds remain invested in the BlackRock funds regardless of the performance of the securities markets or the overall economy.
Although the BlackRock funds operate in a manner similar to mutual funds, they are not, in fact, mutual funds and are not open to individual investors. Furthermore, they are trust funds that are regulated by the Comptroller of the Currency, not by the Securities and Exchange Commission, and therefore do not have ticker symbols.
The L Funds are invested in the five individual TSP funds based on professionally determined asset allocations.
see my next post—
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