Skip to content

Topic - Federal Retirement Thrift Investment Board

The Federal Retirement Thrift Investment Board was established as an independent agency of the United States government by the Federal Employees Retirement System Act of 1986. It is one of the smaller executive branch agencies, with just over 80 employees. It was established to administer the Thrift Savings Plan, which provides Federal employees the opportunity to save for additional retirement security. The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world with over 3.7 million participants and assets worth over $210 billion dollars. Both the board and its Chairman are nominated by the President and confirmed by the United States Senate. The current Chairman is Andrew Saul. - Source: Wikipedia

Related Stories

No Stories Found