photoFrom Government Executive:

A House committee on Wednesday approved a bill that would automatically enroll new federal employees in a more diverse, age-appropriate retirement fund rather than the safer government securities offering. The Smart Savings Act, sponsored by House Oversight and Government Reform Chairman Darrell Issa, R-Calif., would change the default enrollment fund in the Thrift Savings Plan for new hires from the G Fund to the lifecycle (L) funds designed to move investors to less risky portfolios as they near retirement. Read more…