QdroDesk.com: Thrift Savings Plan (Federal Employees)

Thrift Savings Plan (Federal Employees) The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees. Its is a defined contribution, cash or deferred arrangement similar to a 401(k) plan. All sums contributed to the TSP by an employee or their agency are held in trust for the employee in an individual account. For most employees hired after 1984 or later, the TSP is one part of a three-part retirement system. The other parts are Social Security and the Federal Employees Retirement System (FERS) basis annuity. For employees hired before 1984 who did not switch to FERS, the TSP supplements the basic defined benefit program, known as the Civil Service Retirement System (CSRS).

It is possible to award the Alternate Payee (Former Spouse) a portion of the Employee’s account balance as of a specific date (i.e. 50% of the account balance as of July 7, 2000), plus any investment gains or losses attributable thereon from that date until the date the Alternate Payee receives a distribution from the Plan. This is done pursuant to a Retirement Benefits Court Order (RBCO).