Authors: Patrick J. Purcell, Specialist in Income Security
Abstract: A defined contribution plan, such as the Thrift Savings Plan, is like a savings account for each participating employee. The income that a retiree will receive depends on the balance in the account. The Federal Employees' Retirement System Act of 1986 (FERS) (P.L. 99-335) included as one of its three elements the Thrift Savings Plan. It is a major component of FERS, especially for workers in the middle and upper ranges of the federal pay scale.
Pages: 21
Date: July 17, 2009
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