A retirement savings plan created by the Federal Employee’s Retirement System Act of 1986 for current or retired employees of the federal civil service

The thrift savings plan is a defined-contribution plan designed to give federal employees the same retirement savings related benefits that workers in the private sector enjoy with 401(k) plans.

The contributions in a TSP made by an employee are done through automatic deductions, with pre-tax dollars, and for those in the Federal Employee Retirement System (FERS) the federal government will match up to 5% of an employee’s income as an additional contribution.

This match is not available in the Civil Service Retirement System (CSRS).

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Read more: Thrift Savings Plan (TSP) Definition

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MyFedLife is pleased to offer a Complimentary Benefit Analysis to qualified Federal Employees enrolled in the FERS or CSRS retirement plans.

This will help government workers better understand where they are today, and what they need to help reach their retirement goals tomorrow.

Complimentary Benefit Analysis