Thrift Savings Plan Law and Legal Definition

The Thrift Savings Plan is a retirement savings program for the U.S.military members and civilian federal employees. It is a defined-contribution plan designed to give federal employees the retirement savings related benefits. The plan offers six different funds in which employees can invest. Benefits include government security fund, fixed-income fund, common stock fund, small cap stock fund, international stock fund and a life cycle fund. The plan is administered by the Federal Retirement Thrift Investment Board.