Get Letter To EBSA, January 31, 2007 - FRTIB - Frtib

The TSP is a defined contribution plan similar to that of 401(k)s in the private sector, but it is governed by the Federal Retirement Thrift Investment Board (FRTIB) and not regulated by ERISA (Employee Retirement Income Security Act) like 401(k)s.

"By action agreed to by a majority of the members," the Board appoints the Executive Director, who is required to have "substantial experience, training, and expertise in the management of financial investments and pension benefit plans." The Director oversees the agency and invests and manages "the Thrift Savings Fund ...

The TSP is administered by the Federal Retirement Thrift Investment Board, an independent agency.

The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan, a tax-deferred retirement account similar to a 401(k).

FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement.

The Federal Retirement Thrift Investment Board was established as an independent agency by the Federal Employees' Retirement System Act of 1986 (5 U.S.C. 8351 and 8401-79). The act vests responsibility for the agency in six named fiduciaries: the five Board members and the Executive Director.

The TSP is administered by federal employees, who are also TSP participants, at the Federal Retirement Thrift Investment Board (FRTIB).

FRTIB's mission is to help current and former civilian employees and members of the uniformed services prepare for their retirement years via the TSP. Download the FY22-26 Strategic Plan to see our plans for the next five years.