L 2045-2025

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As the fund name indicates, these companies are smaller and less established than the SP 500 companies and have greater potential for growth than those in the C Fund. The S Fund is considered one of two funds with the greatest risk in the TSP.
No, the L-funds are not bad. They are appropriately diversified investment vehicles geared towards consistent returns over time that start aggressively and end conservatively, which is in line with what most people would need or expect when they retire.
The Voya Target Retirement 2045 Fund is designed for people who plan to begin living their retirement goals in the years 2043 to 2047. Currently, it is designed to begin reducing investment risk and exposure to stocks as contributions grow.
Overall Rating. Morningstar has awarded this fund 4 stars based on its risk-adjusted performance compared to the 180 funds within its Morningstar Category.
Lifecycle funds, particularly those from Vanguard and the TSP (and the Fidelity Freedom INDEX Funds but not the older, actively managed Fidelity Freedom Funds), can be great investments. They are low-cost, low-maintenance, and reasonably well-allocated among various asset classes.
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L 2045 is a mix of the TSP C, S, I, F, and G funds. We model the L fund portfolios using the allocation details published by the Thrift Savings Plan, and use matching index funds to represent the constituent TSP funds. Fossil fuel exposure of 6.63% places the fund in the D tier, between 5.5% and 9% exposure.

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