Federal employees overall are satisfied with their 401(k)-style retirement savings plan, but many don’t understand its key features, according to an employee survey released Monday.
The Thrift Savings Plan governing board heard at its monthly meeting Monday that nearly a fifth of employees under the Federal Employees Retirement System — which generally covers those hired starting in 1984, more than 80 percent of the federal workforce — don’t understand the potential for employer contributions into their accounts.
The Thrift Savings Plan, the retirement savings program for federal employees, will begin accepting Roth-style investments as of May 7, the TSP announced Wednesday. Since its inception in the late 1980s the 401(k)-style savings prog... Read Post
Federal employees who lose income by being furloughed also could end up with smaller retirement savings accounts. Updated guidance from the 401(k)-style Thrift Savings Plan says that special investment, loan and other policies apply... Read Post