Changes

The '''Thrift Savings Plan (TSP)''' is a defined contribution [[pension]] plan for United States government civilian employees and members of the uniformed services.  It was started in 1987 as a major component of the [[Federal Employees Retirement System]] (FERS), the overhauled retirement system for new civilian employees.  It is managed by an independent agency, the '''[[Federal Retirement Thrift Investment Board]] (FRTIB)'''.

The '''Thrift Savings Plan (TSP)''' is a defined contribution [[pension]] plan for United States government civilian employees and members of the uniformed services.  It was started in 1987 as a major component of the [[Federal Employees Retirement System]] (FERS), the overhauled retirement system for new civilian employees.  It is managed by an independent agency, the '''[[Federal Retirement Thrift Investment Board]] (FRTIB)'''.

As of December 31, 2020, TSP has approximately 6.2 million participants (of which approximately 3.8 million are actively participating through payroll deductions), and more than $735.2 billion in assets under management;<ref>https://www.frtib.gov/ReadingRoom/FinStmts/TSP-FS-Dec2020.pdf</ref> it purports to be the largest defined contribution plan in the world.

As of December 31, 2023, TSP has approximately 7 million participants (of which approximately 4.1 million are actively participating through payroll deductions), and more than $845.4 billion in assets under management;<ref>https://www.frtib.gov/ReadingRoom/FinStmts/TSP-FS-Dec2020.pdf</ref> it purports to be the largest defined contribution plan in the world.

All employees and uniformed members may enroll and withdraw from the TSP at any time, as often as desired.  However, only civilian employees under FERS and new uniformed service enlistees under the Blended Retirement System (BRS) are eligible for matching contributions.<ref>A prior law allowed the Department of Defense to designate any military position as eligible for matching contributions; none was so designated.  A small pilot program, operated by the Army during the later 1980's, allowed for matching contributions for enlistees.  The program has since ended and as of December 31, 2018 only five Soldiers are still serving and receiving matching contributions under that law.  The BRS requires the enlistee to serve for two years before receiving matching contributions.</ref>

All employees and uniformed members may enroll and withdraw from the TSP at any time, as often as desired.  However, only civilian employees under FERS and new uniformed service enlistees under the Blended Retirement System (BRS) are eligible for matching contributions.<ref>A prior law allowed the Department of Defense to designate any military position as eligible for matching contributions; none was so designated.  A small pilot program, operated by the Army during the later 1980's, allowed for matching contributions for enlistees.  The program has since ended and as of December 31, 2018 only five Soldiers are still serving and receiving matching contributions under that law.  The BRS requires the enlistee to serve for two years before receiving matching contributions.</ref>