Which federal benefit plan functions as a defined contribution plan, often with agency matching contributions?
Answer
Thrift Savings Plan (TSP)
The Thrift Savings Plan (TSP) is the defined contribution plan for federal employees, functioning similarly to a private-sector 401(k).
Related Questions
What is the dominant pay system for white-collar positions in the federal executive branch?What is the highest standard pay grade for non-executive federal positions under the GS scale?What do the ten steps within each GS grade primarily represent?Which government body plays a key role in setting the policies that govern federal pay across various departments?What is often cited as the single biggest variable affecting a federal employee's paycheck, aside from their grade and step?Which federal benefit plan functions as a defined contribution plan, often with agency matching contributions?How do state government compensation systems relate to the federal GS structure?What does a GS-5 position base salary sometimes begin near, according to the examples provided in the text?How much can locality adjustments in high-cost areas like Washington, D.C. sometimes add to an employee's base salary?Which GS tiers typically encompass the core professional, mid-career level roles?What effect does Locality Pay have on federal employees holding the exact same grade and step?