![]() Red Rock Secured, LLC et al., the SEC charged defendants for engaging in a fraudulent scheme through which they allegedly persuaded hundreds of TSP and other retirement plan investors to sell their existing securities, to transfer the proceeds into a self-directed IRA (SDIRA) account that the defendants helped to establish, and to invest the proceeds in gold or silver coins sold by the defendants. To learn more about risks of investing through self-directed IRAs - including fraudulent schemes - read this Investor Alert. In some cases, they may direct investors to transfer money from their TSP accounts into self-directed individual retirement accounts. Here are a few ways you can protect your account.īe cautious if someone you do not know contacts you and tries to convince you to transfer money out of your TSP account.įraudsters may use scare tactics to convince TSP investors to transfer money out of their TSP accounts and into other accounts controlled by the fraudsters. If you have a TSP account, you should be aware of fraudulent schemes aimed at TSP investors. The TSP website (TSP.gov) explains the benefits available to TSP participants. The TSP offers the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans. ![]() Most federal government employees, including military service members, are eligible to participate in The Thrift Savings Plan (TSP), a federal government-sponsored retirement savings and investment plan. The SEC’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement Retail Strategy Task Force are providing tips for investors in the Thrift Savings Plan to help protect against fraud. Public Service Campaign (new) – “Investomania”.Required Minimum Distribution Calculator.Investment Professional Background Check.Working with an Investment Professional.Five Questions to Ask Before You Invest. ![]() Read more Federal information, guides and helpful tools about the MyMoney Five Save and Invest principle. A good place to check the credentials of an investment advisor is your State’s consumer protection office, the State’s Attorney General’s office, or the issuing agency for any professional licenses or certifications. Many professionals call themselves “financial planners.” Before you hire one, ask for a description of the services offered.Keep the savings in an insured bank or credit union account that you can access if you need it. ![]() Before you purchase investments, be sure to build an emergency savings fund to cover your needs for at least three months.
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