By Tracy Wayne Mitchell
 A top authority in retirement planning, Tracy
Wayne Mitchell is a Missouri-based financial
speaker and author. Tracy Mit...
 The TSP, or thrift savings plan, is offered to
federal employees and armed services personnel
for the purpose of saving ...
 The FERS or Federal Employees' Retirement
System features the TSP, Social Security, and
a general annuity for retirement...
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Federal Thrift Savings Plan is Part of a Three-tier System

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A top authority in retirement planning, Tracy Wayne Mitchell is a Missouri-based financial speaker and author. Tracy Mitchell's book, "The Informed Fed," discusses ways to optimize federal retirement benefits. One of the subjects covered is the TSP account.

Published in: Economy & Finance
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Federal Thrift Savings Plan is Part of a Three-tier System

  1. 1. By Tracy Wayne Mitchell
  2. 2.  A top authority in retirement planning, Tracy Wayne Mitchell is a Missouri-based financial speaker and author. Tracy Mitchell's book, "The Informed Fed," discusses ways to optimize federal retirement benefits. One of the subjects covered is the TSP account.
  3. 3.  The TSP, or thrift savings plan, is offered to federal employees and armed services personnel for the purpose of saving for retirement. First established in 1986, this investment and retirement plan can be compared to the 401(k) offered by companies. Definitively, then, the federal TSP is considered a contribution-type investment account. Therefore, the amount that retirees receive from the plan depends on the number of contributions that employees make during their tenure as well as their agency's matching amount.
  4. 4.  The FERS or Federal Employees' Retirement System features the TSP, Social Security, and a general annuity for retirement planning purposes. For civil service workers and military personnel, the thrift savings plan is designed as an add-on to military retirement pay or a civil service annuity. Administration of the TSP is controlled by an independent governing body. Statements that are produced are audited annually.

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