Understanding the Thrift Savings Plan (TSP): Your Federal Retirement Savings

The Federal Retirement Thrift Investment Board is an agency that was created by the federal government in order to oversee the Thrift Savings Plan. The thrift savings plan is the retirement plan option for many government employees.

This agency is in charge of handling the defined contribution plan for government employees. This type of retirement plan is very similar to a 401k on the corporate level. Individuals that participate in this plan can set aside a certain percentage of their income on a pretax basis. With a thrift savings plan, they can choose between a number of different investments that are set up for this plan. In fact, there are several funds that were established solely for the thrift savings plan and cannot be invested in by anyone else.

If you are a participant in the thrift savings plan, you will most likely have some type of dealings with the Federal Retirement Thrift Investment Board at some point. If you need to take out a loan against your Thrift Savings Plan, you will need to get the appropriate documentation from this agency and submit it back to them. If you have any questions about your plan, this is also the place to contact.