Federal Retirement Thrift Investment Board Law and Legal Definition

The Federal Retirement Thrift Investment Board is an independent federal administrative agency to administer the Thrift Savings Plan (TSP), which provides Federal employees the opportunity to save for additional retirement security. Governance of the agency is carried out by a five-person, part-time Board of Presidential appointees and by a full-time Executive Director selected by those appointees. The members of the board must have substantial experience, training, and expertise in the management of financial investments and pension benefit plans.