The U.S. Treasury officially suspended some investments of federal employee pension funds as part of the "extraordinary measures" the government will need to take to keep the country funded while Congress reconsiders the statutory debt limit.
In a letter to House Speaker John Boehner, R-Ohio, sent Friday, Treasury Secretary Jack Lew "respectfully" urged Congress to raise the debt limit as soon as possible.
Lew issued a "debt issuance suspension period," affecting the Civil Service Retirement and Disability Fund and the investment of Treasury securities held in Federal Employees' Retirement System Thrift Savings Plan.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
