After reviewing literature and conducting interviews with stakeholders knowledgeable about climate change and financial markets, the Government Accountability Office has found that federal employees saving for retirement in the government’s Thrift Savings Plan could be exposed to financial risks from climate change.
It has recommended that the Federal Retirement Thrift Investment Board, which oversees the TSP, evaluate its investment offerings in light of those risks. The GAO report says the board didn't indicate whether it agreed or disagreed with the recommendation and said that it subscribes to a strict indexing discipline and efficient market theory.
“Climate change is expected to have widespread economic impacts and pose risks to investments held by retirement plans, including the federal government's TSP,” the GAO said in a release. “As of November 2020, TSP had six million active and retired federal employee participants and nearly $700 billion in assets.”
The GAO said that when it confirms what actions, if any, the agency has taken in response to its recommendation, it will provide updated information.
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
