TSP L 2070 Fund

$14.2783 share price on October 23, 2026-1.23% since the September 30, 2026 close

Index tracked

None: invests in the G, F, C, S and I Funds

Inception date

July 26, 2024

Risk (TSP rating)

High

Total expense ratio (as of December 31, 2025)

0.041%

Assets (as shown on TSP’s fund page, read October 24, 2026)

$1.9 billion

Prices are TSP’s published share prices (the first row is the latest trading day in our data; the others are month-end closes). For every fund and every date, see TSP share price history.

L 2070 Fund. The L 2070 Fund’s investment objective is to achieve a high level of growth with a very low emphasis on preservation of assets. The Fund's allocation in the G, F, C, S, and I Funds is adjusted quarterly. The L 2070 Fund will roll into the L Income Fund automatically in July 2070 when its allocation becomes the same as the allocation of the L Income Fund.

TSP says the L 2070 Fund suits participants born between 2005 and 2009 or who will begin to withdraw their money beginning 2068 through 2072. TSP also says you are not required to invest in any specific L Fund.

TSP’s target allocation for the L 2070 Fund for the October 2026 quarter is G 0.36%, F 0.64%, C 51.48%, S 12.87%, I 34.65%. That puts 99.00% in the stock funds (C, S and I) and 1.00% in the G and F Funds. In TSP’s published glide path, each L Fund reaches the L Income mix for July 2028 (G 64.75%, F 5.25%, C 15.60%, S 3.90%, I 10.50%; 30.00% in stock funds) in July of its target year, when it rolls into L Income. TSP says L Income generally keeps the same target allocation after that.

The L 2070 Fund holds 99.00% in stock funds until July 2042; its stock share first falls in October 2042, to 98.58%.

At five-year marks along the glide path, the L 2070 Fund holds 99.00% in October 2031, 99.00% in October 2036, 99.00% in October 2041, 91.79% in October 2046, 83.31% in October 2051, 74.84% in October 2056, 66.36% in October 2061, 52.50% in October 2066, and 30.00% when it rolls into L Income in July 2070.

Each L Fund is a mix of the five individual funds (G, F, C, S and I). TSP rebalances it at the end of every trading day to keep the target mix and resets target allocations each quarter (January, April, July and October). The L 2070 Fund rolls into the L Income Fund automatically in July 2070, when its allocation becomes the same as the allocation of the L Income Fund; money in it then becomes part of L Income.

TSP rates the L 2070 Fund’s risk (potential for short-term loss) as High.

The L 2070 Fund’s total expense ratio was 0.041% as of December 31, 2025: a net administrative expense ratio of 0.033% plus an investment expense ratio of 0.008%. That is $0.41 a year for every $1,000 invested. TSP publishes expense ratios once a year.

Through September 2026, TSP’s published average annual returns for the L 2070 Fund are 17.69% over 1 year, 18.42% since its July 26, 2024 inception; the year-to-date return is 13.85%. TSP’s data has one full calendar year for the L 2070 Fund: 2025 (21.89%). Averages over a short history are annualized and can look high; they are not a return to expect.

The L 2070 Fund is too new for meaningful comparisons with the C and G Funds: it has less than three years of history.

L 2070 Fund glide path to its target July

Target allocations from TSP’s published L Fund glide path for the October 2026 quarter onward (read from tsp.gov October 24, 2026), showing the January quarters (every fifth year when the path is long). The last row is the L Income mix at the L 2070 Fund’s target July, when the fund rolls into L Income. TSP rebalances daily between quarterly resets. Check tsp.gov for the latest quarter.

Averages are TSP’s annualized returns ending September 2026, net of fund expenses; the September 2026 column is that month’s return. Since inception counts from July 26, 2024.

Best calendar year: 2025 (21.89%). Worst: 2025 (21.89%).

Full history for every fund, with monthly returns, is on TSP rates of return.

Average annual returns through September 2026, as published by TSP. Funds that started on different dates cover different periods, and a blank means the fund has not existed that long.