Thrift Savings Plan

What Thrift Savings Plan does

The Thrift Savings Plan (TSP) is a defined contribution retirement savings plan established by Congress under the Federal Employees' Retirement System Act of 1986 and administered by the Federal Retirement Thrift Investment Board (FRTIB), an independent U.S. government agency headquartered in Washington, D.C. It serves federal civilian employees covered under FERS and CSRS and members of the uniformed services, providing them with a tax-advantaged retirement vehicle analogous to private-sector 401(k) plans. FERS employees are automatically enrolled with a 1% agency contribution plus matching up to 4%, and contributions flow through federal payroll systems.

TSP's product surface comprises five individual investment funds (G Fund government securities, F Fund fixed income, C Fund large-cap, S Fund small/mid-cap, I Fund international) and eleven Lifecycle Funds (L Funds) that automatically rebalance toward retirement. Additional features include a mutual fund window, TSP loans, Roth contributions and in-plan conversions, planning calculators, and an external life annuity offering. The underlying technology stack is a web-based participant portal (My Account), a mobile app, and a recordkeeping system operated through external service providers, with the AVA virtual assistant chatbot layered on top. Investment management is split between BlackRock and State Street Global Advisors, added in 2021 for operational resilience.

TSP does not generate revenue in the conventional sense. It is funded through small administrative expense deductions and bundled investment management fees (e.g., 0.041% for the L 2070 Fund) that are deducted from participant accounts and embedded in fund NAVs. Distribution is exclusively to eligible federal employees and uniformed services members via federal agency and military payroll enrollment; there is no commercial sales motion or competitive private-sector channel for its core offering.

Name

Thrift Savings Plan

Legal name

Thrift Savings Plan (TSP)

Website

https://tsp.gov

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

251–500 employees

Short description

Thrift Savings Plan is a federally chartered defined contribution retirement plan administered by the FRTIB for U.S. federal civilian employees and uniformed services members, offering five individual funds, eleven lifecycle funds, and a self-service portal.

Ownership category

akta.pro rank

Product category

Government Retirement Savings

NAICS

Pension Funds (525110), Funds, Trusts, and Other Financial Vehicles (525), Pension Funds (52511)

SIC

Finance Services (6199), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

akta.pro secondary industries

Digital Retirement Platforms (IRA/401(k), Pension & Decumulation) (FSAGAEAF), Savings Automation & Goal-Based Savings (FSAGADAC)

Keywords

• Federal retirement plan
• Defined contribution savings
• Government retirement savings
• Uniformed services benefits
• Lifecycle investment funds

Headquarters

HQ city

Newark

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Administrative Expense Deductions: TSP deducts small administrative expenses from participant accounts to cover operational costs of running the plan. These are expressed as a percentage of assets under management.
2. Investment Management Fees: Very low expense ratios are charged to participants to cover investment management costs. The L 2070 Fund has an expense ratio of 0.041%. These fees are bundled into the fund NAV prices.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Thrift Savings Plan (TSP) is a defined contribution retirement savings and investment plan for U.S. federal civilian employees and uniformed services members, established by the Federal Employees' Retirement System Act of 1986 and administered by the Federal Retirement Thrift Investment Board (FRTIB). The plan offers Traditional and Roth contribution options, agency automatic and matching contributions, five core individual investment funds (G, F, C, S, I), eleven Lifecycle (L) target-date funds, a Mutual Fund Window, TSP loans, and in-service and post-separation withdrawal options.

Product overview

The Thrift Savings Plan (TSP) is a defined-contribution retirement savings plan for federal employees and uniformed services members, established under the Federal Employees' Retirement System Act of 1986. TSP offers a core investment platform with five individual funds (G, F, C, S, I) and eleven Lifecycle funds (L Funds) that automatically adjust asset allocation based on target retirement date. Participants access their accounts through the My Account online portal and TSP Mobile App. Additional services include TSP Loans, Roth TSP contributions with in-plan conversion capability, a Mutual Fund Window for self-directed investing, planning calculators, the AVA virtual assistant chatbot, and telephone support via the ThriftLine. The program is administered by the Federal Retirement Thrift Investment Board (FRTIB).

Differentiator

Problem solved

Functional benefit

Products and services

• Individual TSP Funds (G, F, C, S, I) Five core individual investment funds that participants can allocate contributions among: G Fund (non-marketable U.S. Treasury securities, unique to TSP), F Fund (broad U.S. bond index), C Fund (large-cap U.S. equity index), S Fund (small/mid-cap U.S. equity index), and I Fund (international equity index). Available to all eligible federal civilian employees and uniformed services members.
• Lifecycle Funds (L Funds) Target-date lifecycle funds (currently L Income plus L 2030 through L 2075) that automatically adjust the mix of the five individual funds as participants approach their target retirement date. Currently 11 L Funds available. Available to all eligible federal civilian employees and uniformed services members.
• TSP Loans Loan program allowing eligible TSP participants to borrow against their vested TSP account balances, with general purpose loan and residential loan terms and repayment through payroll or direct billing. Available to active participants who meet TSP eligibility rules.
• Mutual Fund Window Self-directed brokerage window that lets TSP participants invest in a limited menu of mutual funds outside the core TSP fund lineup, subject to eligibility, minimum, and fee requirements. Available to participants who want expanded investment options beyond the G, F, C, S, I, and L Funds.

Quantifiable outcome

• Every $1 invested can grow to $10 in 35 years through compounding
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• BlackRock Institutional Trust Company, N.A.coreOthers · 15 March 2021BlackRock serves as one of two investment managers for TSP assets, specifically managing portions of the C Fund, S Fund, and F Fund. The relationship provides institutional-level investment management for TSP participant assets.
• State Street Global Advisors Trust CompanycoreOthers · 15 March 2021Added as second investment manager in 2021 to manage portions of the C Fund, S Fund, and F Fund assets. Having two managers allows each to serve as backup to the other for operational resilience.
• TSP Life Annuity VendorsupportingOthersExternal vendor from whom TSP participants can purchase life annuities using their TSP account balances. The annuity provides guaranteed income payments for life.
• GovDeliverysupportingTechnology or IntegrationEmail service provider used by TSP to send participant outreach emails and notifications. TSP uses this platform for educational updates and account-related communications.

Scale indicators4 records

Recent moves7 records

Expansion highlights8 records

Market position

Strengths4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tsp4gov
• YouTubetsp.gov/exit/?idx=129
• Facebookfacebook.com/tsp4gov

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thrift Savings Plan