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Ohio law auto enrolls state workers into deferred comp program

Ohio law auto enrolls state workers into deferred comp program
Ohio State Flags at the state capital in Capitol Square in Columbus, Ohio.
A new law will allow Ohio state government employees to be automatically enrolled into the $19 billion Ohio Public Employees Deferred Compensation Program, Columbus.
Ohio Gov. Mike DeWine signed a bill into law Tuesday which allows designated state employers to provide auto-enrollment for new employees.
Rather than a specific percentage for auto-enrollment, the program s board of trustees is currently considering a specific dollar amount, spokesman Joshua King said in an email. While the terms of the bill are effective immediately, he said, it will take about 18 to 24 months to implement it. ....

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What NOT to Do with Your TSP: 8 Thrift Savings Plan Mistakes to Avoid

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For federal employees, participation in the TSP (Thrift Savings Plan) can greatly increase your chances of financial security in retirement, yet some of the folks you work with aren’t making the most of their TSP.
By participating in your TSP, you can save part of your income for retirement through automated payroll deductions. You can also receive matching contributions from your agency, perform some forward-looking tax planning for retirement by considering using the Roth option, and potentially grow your money for the future tax-free.
But to help maximize your TSP, you should avoid these eight TSP pitfalls: ....

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