**GAO-07-611**                      Published: Jun 21, 2007. Publicly Released: Jul 23, 2007.                  

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## Highlights

The Thrift Savings Plan (TSP), a retirement savings and investment plan for federal workers, held approximately $210 billion in retirement assets for 3.7 million participants, as of February 2007. TSP is managed by the Federal Retirement Thrift Investment Board (FRTIB). In light of questions about TSP oversight, we examined (1) the current structure for overseeing FRTIB, (2) how the statutorily defined fiduciary responsibilities of FRTIB compare to the responsibilities of private plan sponsors and how FRTIB fulfills its responsibilities, (3) how FRTIB's investment policies differ from those of private plan sponsors, and (4) FRTIB's statutory responsibilities to educate plan participants about TSP and other retirement issues and how these responsibilities compare with those of private and state and local government employee plan sponsors.

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## Topics

Retirement Security

Comparative analysisCongressional oversightEducationFederal employee retirement programsGovernment retirement benefitsInvestment planningReporting requirementsRetirementRetirement benefitsStocks (securities)FiduciariesGovernment agency oversight