Consulting 

Communication | Research, Personalization & Insights 

2011 TSP Survey Results 

Federal Retirement Thrift Investment Board 

February 2012 
1

Table of Contents 

Executive Summary 2

Survey and Methodology 4

Profile of Respondents 5

Survey Context 9

Report Information 9

TSP Contributions and Savings Rates 10

Overall Satisfaction and Perceived Competitiveness of TSP 15

Satisfaction and Competitiveness by Age, Tenure, Race/Ethnicity, and Annual Pay 16

TSP Services Perceptions 17

TSP Website 18

TSP Website by Demographics 19

TSP Design Features 20

Key Drivers of Overall Satisfaction 21

Retirement Income Sources 23

Account Actions and Approach 24

Asset Allocation in the TSP 27

Risk Response by Asset Mix Classes 28

Communication Preferences 29

Communications Access 30

Closing 32

Appendix A: Survey 33

Appendix B: Key Drivers of Overall Satisfaction 34
2

Executive Summary 

The Federal Retirement Thrift Investment Board (FRTIB) contracted with Aon Hewitt, an independent 

consultancy, in a survey of Federal employees and uniformed services members with regard to their 

perspectives, attitudes, understanding, satisfaction, and behaviors related to the Thrift Savings Plan (TSP). 

The survey was designed as a follow up to prior studies conducted in 2006/2007 and again in 2008, as well 

as incorporating new areas of focus and research. The survey was conducted in September and October, 

2011 through a paper-based mailing to the homes of a random sample of 55,055 active and separated 

Federal employees and uniformed service members who have participated in the TSP. Those invited have 

the option of completing the survey on paper or on-line via the Internet. Of those sampled, 8,246 responded 

achieving a 15% response rate (similar to 2008) and representing a good cross-section of the sample. 

Key findings of the survey include: 

 Tax benefits, payroll deduction convenience and matching contributions continue to be the primary 

reasons for contributing to the TSP, while hardship withdrawal status and perceived ability to contribute 

(affordability) are cited as primary reasons for not contributing currently. Over one-quarter (28%) expect 

to increase their TSP contributions over the next twelve months, over one-tenth (11%) expect to start or 

restart contributions, while less than one-tenth intended to stop (4%) or reduce TSP contributions (3%) 

during the same time period. 

 Overall, Federal employees and uniformed services participants are quite satisfied with the TSP, its 

competitiveness compared to similar private sector plans, its ease of use, its safety and security, the 

related website, and its design features. Over four-fifths (86%) of respondents are satisfied, an increase 

of 5 percentage points over 2008 levels. Over nine-tenths (92%) rate the TSP as competitive or better, 

compared to other employers’ savings plans, significantly higher than private sector ratings in this 

regard (63%)1

. 

 Those who use the TSP website (82% of respondents) have very favorable views on the information 

provided, availability, ease of use, responsiveness, and its time saving benefit. Many respondents 

access TSP communication on line both from home and from work, and prefer a mix of electronic and 

postal mail for communication. 

 Many of the respondents (78%) plan to continue to work for the Federal Government or uniformed 

services until eligible to retire. Even those planning to leave before retirement eligibility are likely to 

leave some or all of their money in the TSP account. 

 Median savings rates for respondents is approximately 10.0%, unchanged from 2008 and higher than 

typical private sector savings plan contributions of 7.3%2

, indicating a strong level of engagement with 

the TSP. Likely in response to growing concern with the economy and more recent declines in the 

investment markets, self-reported investment approaches for respondents have become somewhat 

more conservative with more respondents identifying themselves as somewhat or very cautious. Just 

under three-fifths (59%) say they are comfortable choosing the appropriate investment funds to meet 

their savings goals. 

 

1

 Source: 2010 Aon Hewitt Benefits Perception Index Database of 169,912 respondents from 53 organizations. 2

 Source: Aon Hewitt Survey “Navigating the Path to Retirement: 2011 Universe Benchmarks,” data as of December 31, 2010 
3

The results of this survey reaffirm the importance participants place on the TSP in their retirement planning 

and goals. As expected, though difficult to determine, the effects of market and economic uncertainty have 

likely played some role in how participants behave within the plan as well as how they perceive it. Results 

for those who were automatically enrolled were very positive, and this group also had slightly higher 

average savings rates, indicating this feature is contributing towards helping this group prepare for 

retirement. A continued focus on increasing participation would be effective given the importance placed on 

the TSP as a source of retirement income. The primary suggestion to help increase participation from 

respondents was related to providing or increasing the match component. In addition to these suggestions, 

Aon Hewitt’s industry research has shown that auto-escalation is a way to drive increased contribution 

levels, especially among younger, less experienced employees. Continuing to provide the highly-satisfying 

services, information, and guidance tools (via both web site experience and ThriftLine) is also important to 

maintaining the high level of overall satisfaction with the TSP. 
4

Survey and Methodology 

The Federal Retirement Thrift Investment Board (FRTIB) partnered with Aon Hewitt to conduct a survey of 

participants in the Thrift Savings Plan (TSP). The survey was conducted with a sample of participants from 

September 20 to October 17, 2011. The survey design builds from earlier surveys conducted in November 

2006 and March 2007 (two separate solicitations with combined results) and in November 2008. It is 

intended to assess participants’ contribution and savings behavior, retirement planning efforts, and 

satisfaction with TSP features, communication, and related services. 

Aon Hewitt and the FRTIB collaborated to design the survey content by building from prior survey items, 

Aon Hewitt’s database of survey items, and designing new survey items through an iterative process. Once 

the preliminary design was crafted, four pre-test focus groups were conducted with 62 Federal employees 

and uniformed services members to solicit feedback on the survey content and related interpretation. Based 

on the input, the survey was revised and finalized to contain 53 closed-end response questions and one 

open-ended comment section in which participants were asked to provide additional comments or 

suggestions. Several of the closed-end questions also provided an “other: please specify” option to capture 

additional input as appropriate. Finally, the survey also included thirteen demographic questions to allow 

analyses by key population subgroups. The final survey content was approved by senior leadership prior to 

administration and is included as Appendix A to this report. 

The original stratified, random sample was 57,776 Federal employees and uniformed services members. 

Aon Hewitt mailed an announcement postcard to the sample on September 14, 2011 alerting them that the 

survey would be coming. On September 20, 2011, Aon Hewitt mailed survey packets containing a cover 

letter, questionnaire, and postage-paid return envelope to the sample to achieve a reliable and 

representative sample. In the cover letter, potential respondents were given the option and related 

instructions to complete the survey online as well. There were 2,721 survey packets returned as 

undeliverable, leaving 55,055 eligible for completion. The sample was sent a reminder postcard on 

September 26, 2011. A total of 8,246 completed the online or paper survey for a total response rate of 

15.0%. This response rate lags the typical range Aon Hewitt generally obtains from similar surveys in the 

private sector (typically 25%–35%). It should be noted that this benchmark is for on-line survey 

administration via email invitation for the most part, which may account for some of the difference. Of those 

responding, 6,436 (78%) completed the survey on paper and 1,810 (22%) completed the survey on-line. 

The table below outlines the response summary over the three administration periods. 

Mailed* Responding 

Adjusted 

Response 

Rate Online % Paper % 

November 2006/March 2007 26,852 5,053 18.8% N/A N/A

November 2008 34,250 4,891 14.3% 32% 68%

October 2011 55,055 8,246 15.0% 22% 78%

*Not including undeliverable 
5

In analyzing the survey items, the margin of error will vary based on the number of respondents answering 

that item and the related variance of those responses. Using a 95% confidence interval, the following 

margins of error would apply for the overall population and each retirement system. 

Overall Survey: Margin of error = 1.0% 

Civil Service Retirement System (CSRS) = 1.6% 

Federal Employees’ Retirement Survey (FERS) = 1.7% 

Uniformed Services (Active Duty and Reserves) = 1.9% 

Profile of Respondents 

The profile of respondents represents a very good cross-section of the population. Given the stratification of 

the sample and different response rates by retirement system, we would expect differences between the 

profile of respondents and the total population or total sample in some areas, including by retirement 

system. In fact, CSRS responded at the highest rate (23%), while uniformed services’ rate was only 9% as 

noted below. To understand the potential impact of this difference, the results were weighted by the 

population proportions in each retirement system, e.g. 12% CSRS, 63% FERS, and 25% Uniformed 

Services. The weighted results are not materially different from the unweighted results, so the 

remainder of this report uses the unweighted results. Unweighted results were also used in prior 

survey periods. 

Though respondents represent a diverse group, generally respondents are equally split between retirement 

systems, tend to be on active status, male, caucasian/white, homeowners, with at least some college 

education and earning a median annual pay of $69,800. 

Profile of Respondents

Uniformed Services 2,528 31% 9%

Survey 

Respondents Response 

Rate

# %

CSRS 2,773 34% 23%

FERS 2,945 36% 16%

Uniformed Services 2,528 31% 9%

Survey 

Respondents Response 

Rate

# %

CSRS 2,773 34% 23%

FERS 2,945 36% 16%

Separated 3,081 37% 20%

Survey 

Respondents Response 

Rate

# %

Active 5,165 63% 12%

Separated 3,081 37% 20%

Survey 

Respondents Response 

Rate

# %

Active 5,165 63% 12%

Active/Separated

Retirement System
6

No response 171 2%

Male 5,044 61%

Survey Respondents

# %

Female 3,031 37%

No response 171 2%

Male 5,044 61%

Survey Respondents

# %

Female 3,031 37%

Gender

No response 122 1%

No 1,014 12%

Survey Respondents

# %

Yes 7,110 86%

No response 122 1%

No 1,014 12%

Survey Respondents

# %

Yes 7,110 86%

Homeowner Status

$151,000 and over 525 6%

Approximate Median Annual Pay* $69,800

No response 554 7%

$101,000–$150,000 1,437 17%

$80,001–$100,000 1,130 14%

$60,001–$80,000 1,490 18%

$40,001–$60,000 1,796 22%

Survey Respondents

# %

$25,000 or less 522 6%

$25,001–$40,000 792 10%

$151,000 and over 525 6%

Approximate Median Annual Pay* $69,800

No response 554 7%

$101,000–$150,000 1,437 17%

$80,001–$100,000 1,130 14%

$60,001–$80,000 1,490 18%

$40,001–$60,000 1,796 22%

Survey Respondents

# %

$25,000 or less 522 6%

$25,001–$40,000 792 10%

*Since actual pay levels are not available, the Median Annual Pay is 

calculated using the mid-point of the salary ranges self-reported on the 

survey, not including “No response.”

Annual Pay
7

No response 188 2%

Advanced/Post-Graduate Degree 2,316 28%

Some Advanced/Post-Graduate Education 756 9%

College Graduate 1,908 23%

Some College 2,128 26%

Survey Respondents

# %

Some High School 55 1%

High School Graduate 895 11%

No response 188 2%

Advanced/Post-Graduate Degree 2,316 28%

Some Advanced/Post-Graduate Education 756 9%

College Graduate 1,908 23%

Some College 2,128 26%

Survey Respondents

# %

Some High School 55 1%

High School Graduate 895 11%

Highest Education Level

No response 283 3%

Multi-racial 153 2%

Hispanic/Latin American 361 4%

Caucasian/White 6,098 74%

Native American or Alaskan Native 96 1%

Survey Respondents

# %

African-American/Black 817 11%

Asian or Pacific Islander 438 5%

No response 283 3%

Multi-racial 153 2%

Hispanic/Latin American 361 4%

Caucasian/White 6,098 74%

Native American or Alaskan Native 96 1%

Survey Respondents

# %

African-American/Black 817 11%

Asian or Pacific Islander 438 5%

Race/Ethnicity

Median Length of Service 24.0 years

No response 727 9%

25 years or more 3,459 42%

>15 to <25 years 1,975 24%

>10 to =15 years 760 9%

>5 to =10 years 685 8%

Survey Respondents

# %

< =2 years 192 2%

>2 to =5 years 448 5%

Median Length of Service 24.0 years

No response 727 9%

25 years or more 3,459 42%

>15 to <25 years 1,975 24%

>10 to =15 years 760 9%

>5 to =10 years 685 8%

Survey Respondents

# %

< =2 years 192 2%

>2 to =5 years 448 5%

Length of Service
8

Median Age 57.4 years

No response 104 1%

70 and over 1,813 22%

60–69 1,775 22%

50–59 1,900 23%

40–49 1,468 18%

Survey Respondents

# %

Under 30 349 5%

30–39 792 10%

Median Age 57.4 years

No response 104 1%

70 and over 1,813 22%

60–69 1,775 22%

50–59 1,900 23%

40–49 1,468 18%

Survey Respondents

# %

Under 30 349 5%

30–39 792 10%

Age

No response 190 2%

Divorced 864 10%

Widowed 400 5%

Single 1,182 14%

Married without spouse retirement plan 2,327 28%

Survey Respondents

# %

Married with spouse retirement plan 3,283 40%

No response 190 2%

Divorced 864 10%

Widowed 400 5%

Single 1,182 14%

Married without spouse retirement plan 2,327 28%

Survey Respondents

# %

Married with spouse retirement plan 3,283 40%

Marital Status
9

Survey Context 

Given the survey administration timing, we would reasonably expect some impact on responses to 

retirement expectations and the TSP from the continued uncertainty and concern about the economy, job 

security, and general financial markets. This was also likely the case in November 2008, the most recent 

prior survey administration period, when the housing sector turned down significantly and significant 

declines in the equity market occurred. The table below outlines general economic data for the survey 

administration periods, illustrating the struggling economic growth and significant rise in unemployment 

since 2008. It is impossible to determine the magnitude of the impact in the responses both overall or as 

comparison between the two periods. Comparisons to prior results have been provided where available 

throughout this report to provide some insight into how perceptions have changed between the periods. 

 November 2006 November 2008 October 2011

Consumer Price Index (end-period) 203.1 211.3 227.3

Prior Quarter GDP Growth (% real change) 2.7% – 0.3% 1.7%

U.S. Recorded Unemployment Rate 4.6% 5.8% 9.0%

Dow Jones Industrial Average 12,280 8,829 12,232

Report Information 

Throughout the report, the results for 2011 are shown based to those answering the related question. In 

some cases the bases are changed to allow for comparisons to prior year results and will be noted as such. 

In many cases, those who indicated “Don’t Know” or “Not Applicable” are also removed from the base for 

calculating proportional results where noted. 
10

TSP Contributions and Savings Rates 

All those eligible for the sample had to have a non-zero balance in their TSP account—through their own 

contributions, agency contributions, or both. Of the total survey respondents, 4% say they are currently not 

contributing and never have contributed, while 54% say they are currently contributing. Of those indicating 

they are not currently contributing (46%), more than three-quarters say their last contribution was over one 

year ago. Uniformed services respondents are much more likely to say they are contributing (74%) versus 

others, while CSRS respondents are less likely to be contributing currently at 38%. Among all active 

respondents, 81% say they are currently contributing to the TSP. This is reasonably consistent with current 

estimates of 85% for FERS, but different somewhat from actuarial estimates of 66.2% for CSRS and 30.6% 

for uniformed services. 

Among TSP respondents currently contributing and answering the question related to savings rates, the 

average savings rate is 11.5% of basic pay, up slightly from 10.3% in 2008. The median savings rate 

among respondents remains unchanged from 2008 at 10.0%. These rates are higher than typical private 

sector savings plan contributions of 7.3%3

. As in prior surveys, the savings rate results reflected here are 

self-reported and exclude eligible employees who are not currently contributing to the TSP. 

 

3

 Source: Aon Hewitt Survey “Navigating the Path to Retirement: 2011 Universe Benchmarks,” data as of December 31, 2010 

TSP Contributions*

4%

36%

7%

46%

I am currently contributing to the TSP 54%

I am not currently contributing to the TSP

I have contributed in the past 12 months, but 

am not currently contributing

I last contributed over 12 months ago and 

am not currently contributing

I am not currently contributing and never have

CSRS FERS

Uniformed 

Services

38% 51% 74%

62% 49% 26%

9% 6% 5%

51% 36% 20%

3% 7% 1%

*Based on all respondents (n=8,246)
11

Savings rates are highest among uniformed services, which average 12.1%. This is especially true for 

reservists, who average 14.2% compared to active duty at 10.2%. FERS respondents average 11.6% 

while CSRS average 10.2%. These results are higher than for prior year respondents, especially for CSRS 

and FERS. The median rate across all retirement systems is 10.0%, except for reservists at 9.0%. This 

difference would indicate that a significant number of reservists are contributing a very high percentage; 

in fact, 16% of reservists are contributing 20% or more of basic pay compared to only 9% of other 

respondents4

. The average savings rate for those auto-enrolled is slightly higher at 12.1% compared to 

11.0% for other. 

Average TSP Savings Rates by Retirement Systems* 

 2006 2008 2011

CSRS 9.1% 9.2% 10.2%

FERS 9.0% 9.2% 11.6%

Uniformed Services 11.9% 11.8% 12.1%

*Includes active employees of the Federal Government who are currently contributing a portion of pay to the TSP (N=3,822). Contribution amounts were 

 derived using self-reported contribution rates at the time of the survey times the mid-point of their annual pay group. Amounts could be over- or under- 

 estimate contributions due to changes over the year and that annual pay is estimated based on participants’ survey response. 

 

4

 In part, this can be attributed to the fact that members of the Uniformed Services may receive tax-exempt contributions which are not 

limited by IRS rules 402(g). Uniformed services participants may elect to contribute basic pay, incentive pay, or special pay (including 

bonus pay) to the TSP. They must contribute basic pay to be eligible to contribute incentive pay or special pay (including bonus pay). 

Contributions from all sources of pay are subject to the 402(g) limit, which restricted pre-tax contributions to $15,500 in 2008. However, 

if any source of pay is received while the participant is in a combat zone or qualified hazardous duty area, it is received tax-exempt and 

the 402(g) limit no longer applies. Tax-exempt pay is only subject to the 415(c) limit. FERS and CSRS participants may only contribute 

from their basic pay, subject to the 402(g). 

Contribution Amount

1%

5%

4%

3%

33%

29%

15%

10%

<1%

What percentage of your basic pay are you currently 

contributing to the TSP per pay period?

1%–<2.5%

2.5%–<3.5%

3.5%–<5%

5%–<10%

10%–<15%

15%–<20%

20% or more

Note: Includes active employees of the Federal Government who are currently contributing a portion of pay to the TSP (N=3,822). Contribution amounts

were derived using self-reported contribution rates at the time of the survey times the mid-point of their annual pay group. Amounts could

over- or under-estimate contributions due to changes over the year and that annual pay is estimated based on participants’ survey response.

Percentages do not include the 363 (4%) who did not know their contribution amount. 

CSRS FERS

Uniformed

Services

3% 1% 1%

7% 2% 6%

5% 4% 4%

4% 2% 2%

30% 38% 30%

30% 27% 31%

12% 17% 14%

8% 9% 12%
12

The top reasons for contributing to the TSP among active employees continues to be the convenience of 

payroll deduction (55%) and tax benefits (54%), similar to 2008 results. Matching contributions is mentioned 

as a reason by 85% of FERS respondents as a reason for contributing (this is their top reason and 

compares to 81% in 2008). (Note: CSRS and uniformed services do not have a matching feature in their 

plan.) Interestingly, recommendations by friend/coworker (14%) and supervisor/ manager (7%) are at least 

double the proportion they were in 2008 (with similar tenure and age profiles between the two periods), 

perhaps indicating greater influence of others more recently. 

Reasons are relatively consistent across age groups, though, interestingly, 21% of those under 40 cite 

co-worker/friend recommendations versus only 12% of others, perhaps indicating the larger influence social 

networks play for the younger population. Automatic enrollment5

 was also cited by 19% of those with fewer 

than two years of service versus 8% for those with longer service. Automatic enrollment was cited by 20% 

of those earning $25,000 or less versus 9% for higher pay ranges. Tax benefits and payroll deductions are 

most often cited by longer-tenure respondents. 

 

5

 Auto-enrollment was implemented in 2010. 

Reasons for Contributing to the TSP

15%

7%

9%

14%

15%

18%

42%

54%

Tax benefits 55%

Convenience of payroll deduction

I was automatically enrolled in the TSP

My supervisor/manager recommended that 

I do so

Other*

Why are you contributing to the TSP for your retirement? 

(Select all that apply)

Matching contributions

Administrative costs are lower than in other 

savings/investment options

A financial advisor/financial professional 

recommended that I do so

A co-worker/friend recommended that I do so

Note: Responses based to those who are currently contributing, and do not include

the 16 (<1%) who “Do Not Know.”

*”Preparing for retirement” was most frequent “Other” response.

CSRS FERS

Uniformed 

Services

55% 53% 56%

57% 56% 51%

9% 85% 26%

20% 18% 17%

13% 12% 18%

14% 13% 14%

4% 16% 6%

4% 6% 9%

20% 10% 18%
13

Among active respondents currently not contributing, the primary reason for not contributing is that 

contributions are suspended due to hardship withdrawal (32%) or the perception that they cannot afford to 

(25%). In private sector surveys, 47% of respondents typically indicate affordability as a reason for not 

contributing to a defined contribution savings plan6

. These two, along with “concerned about possible 

investment losses” (17%), could certainly be driven by reactions from recent economic challenges for 

participants. Lack of matching contributions is indicated by 20% of active, non-contributing respondents as 

a reason for not participating. 

As in prior years, those earning $25,000 or less annually are more likely to cite affordability, with 45% of this 

group citing this as a reason. 

Active FERS respondents were asked about why they are not contributing up to the maximum for matching 

(dollar-for-dollar on first 3% and 50 cents on the dollar on the next 2%, for matching maximum of 5% of 

pay). Many respondents (47%) selected “Other”, but very few specified what they meant by other. 

Removing these “other” respondents, the top reason for not contributing up the match is similar to those not 

contributing at all, perceived affordability. Half of respondents (58%) say they cannot afford to contribute up 

the maximum match level. Unfortunately, 18% indicated that they did not know their agency matched up to 

 

6

 Source: 2010 Aon Hewitt Benefits Perception Index Database 

Reasons for Not Contributing to the TSP

33%

3%

3%

4%

5%

6%

6%

11%

13%

17%

20%

25%

32%

I do not earn enough money to contribute right now

I do not understand the TSP

I am not sure how to sign up for the TSP OR I was not aware the TSP is available

Other

Why are you not contributing to the TSP for your retirement?

My contributions were suspended because of my hardship withdrawal

I do not receive matching contributions

I am concerned about possible investment losses

I have already contributed the maximum amount allowed for the year

I will need to access the money before retirement

I am not satisfied with the investment options OR I can get better returns elsewhere

I do not need to save for retirement

I do not know how I would invest my contributions

I think I am too young to save for retirement

I do not need the tax benefit of TSP savings

*Responses based to those who are not currently contributing and are active status, excluding “Other.”

**”Other”s are primarily respondents indicating they are near retirement or already retired.

<1%

*

*

*

*

*

*

*

*

*

*

*

*

**
14

5% of the pay they contribute. Among active FERS respondents, those indicating they did not know about 

matching (n=48) tended to be over 50 years of age, but with less than 10 years of service. Finally, 21% say 

they use other investments outside the TSP instead as a reason for not contributing up to the match. These 

latter two reasons may indicate a need to continue to communicate and educate FERS employees on the 

matching benefits, especially newer hires. 

As the FRTIB considers plans for the future, respondents were asked what actions they are 

considering in the next 12 months related to their TSP contributions or investments. Nearly half (48%) 

are not considering any actions. Among those that are considering actions (52% of respondents), the 

top actions include increasing TSP contributions (28%), withdrawing money after leaving service (26%), 

transferring existing balances among funds (25%), or speaking with a financial advisor about TSP account 

(21%). Given current allocation mixes (see Asset Allocation in the TSP section) and with fewer than 20% of 

participants using L funds, additional education on transferring existing balances among funds (rebalancing) 

should be considered. 

Intended actions are similar across retirement systems, except uniformed services participants are more 

likely to indicate they intend to increase TSP contributions (44% for uniformed services vs. 21% for others). 

Reasons for Not Contributing to the TSP Match Level (FERS)

47%

8%

18%

21%

I cannot afford that level of savings 58%

I did not know my agency matched up to 

5% of the pay I contribute

I use other investments outside the 

TSP plan instead

I do not feel I need to contribute that much 

to meet my goals

Other

If you are a FERS (Federal Employees Retirement System) employee, your agency matches 

your contributions dollar-for-dollar on the first 3% of basic pay you contribute per pay period, 

and 50 cents on the dollar on the next 2%. If you are not currently contributing at least 5% of 

your basic pay, please tell us why.

Note: Responses based to FERS employees (not separated) who are not contributing

up to the maximum match.

*Figures are based to those responding without “Other.”

*

*

*

*
15

Overall Satisfaction and Perceived Competitiveness of TSP 

Overall satisfaction (those indicating being Satisfied or Very Satisfied) with the TSP is up to 86% from the 

81% result in 2008. This is similar to levels seen in 2006. Satisfaction is highest among CSRS (89%) and 

FERS (87%), while Uniformed Services lags slightly at 82% (84% for U.S.-active and 81% for U.S.-reserve), 

though still quite positive. 

Satisfaction is lowest among those under 30 years of age (76%) or with under 3 years of service (74%). 

Results are higher among those over 50 (88%), as well as those with over 15 years of service (88%). Not 

surprisingly, those who contribute to the plan are more likely to be satisfied (86%) compared to those 

who do not (73%), though even those who do not contribute have a reasonably high satisfaction result. 

Satisfaction is also somewhat higher for those earning $100,000 or more annually. Satisfaction among 

auto-enrolled participants is consistent with overall results at 87%. 

TSP Contribution/Investment Actions

48%

3%

3%

4%

5%

11%

16%

21%

25%

26%

Increase my TSP contributions 28%

Transfer my existing account balance among the TSP 

funds (interfund transfer)

Start or restart my TSP contributions

Borrow money from my TSP account

I am not considering any of the above actions in the next 

12 months

Which of the following actions are you considering taking in the next 12 months regarding 

your TSP contribution or investments?

Withdraw money from my TSP account after leaving 

Federal service (partial or full withdrawal)

Speak with a financial advisor regarding my TSP account

Change my allocation for investing new contributions 

(contribution allocation)

Reduce, but not stop, my TSP contributions

Stop my TSP contributions altogether

Withdraw money from my TSP account while in service 

(hardship or age based withdrawal)

*

*

*

*

*

*

*

*

*

*

*Figures are based on only those considering some action (52% of total respondents)

“I think the TSP is the finest program going. No complaints from me.” 

 —FERS participant 

“Great program for military members. Don’t change anything and keep 

our military retirement system in place.” 

 —Uniformed Services–Active participant 
16

When considering the TSP relative to what respondents know or have heard about other employers’ 

retirement savings plans, again results are positive with 92% saying TSP is the same as or better than 

others’ plans—over half (55%) say TSP is above or well above others. This compares favorably to private 

sector perceptions of 401(k) programs at 63% (versus 92%) and 41% (versus 55%)7

 respectively. This 

result differs significantly by retirement system, with uniformed services being less likely than CSRS or 

FERS to say the plan is above others (43% of uniformed services say well above or above others). 

Satisfaction and Competitiveness by Age, Tenure, Race/Ethnicity, and Annual Pay 

Total 

Age Tenure Race/Ethnicity Annual Pay 

<40 

40–

49 50+ 

1–2 

years 

3–15 

years 

16+ 

years 

AfricanAmerican Asian Caucasian Hispanic MultiRace < $40K 

$40–

$80K $80K + 

Overall 

satisfaction with 

the TSP 

(Very Satisfied/ 

Satisfied) 

86% 80% 84% 89% 74% 84% 88% 88% 88% 87% 83% 80% 83% 85% 89% 

 

Perceived 

competitiveness 

(Well Above/ 

Above Others) 

55% 41% 44% 61% 41% 48% 58% 56% 55% 56% 54% 45% 53% 54% 56^ 

 

7

 Source: 2010 Aon Hewitt Benefits Perception Index Database of 169,912 respondents from 53 organizations. 

55% 37% 7%

Well Above/Above Others About the Same As Others Below/Well Below Others

TSP Competitiveness

Based on what you know or have heard,

compared with other employers’ retirement

savings plans (e.g., 401(k)), the TSP is:

CSRS FERS

Uniformed 

Services

59% 62% 43%

86% 11%

Very Satisfied/Satisfied Neither Satisfied Nor Dissatisfied Dissatisfied/Very Dissatisfied

TSP Overall Satisfaction

Overall satisfaction with the TSP 2%

Don’t Know/

Not Applicable

Note: Bar chart does not include the employees who indicated “Don’t Know/Not Applicable.”

CSRS FERS

Uniformed 

Services

89% 87% 82%
17

TSP Services Perceptions 

Over four-fifths of respondents (among those with experience) say it is easy to change how money is 

invested (86%) and contribution levels (84%), and that accessing their account online is considered safe 

and secure (84%)—up from 2008. Similarly, over four-fifths (85%) of respondents who have used the 

ThriftLine in the past 12 months (25% of total respondents) are satisfied or very satisfied with the quality of 

service received. This result is up dramatically from 54% in 2008. Results across retirement systems are 

reasonably consistent. 

Given the high overall satisfaction ratings, it is not surprising that half the respondents (50%) also agree or 

strongly agree that TSP has become a better program in the past two years. This is down slightly from the 

53% in 2008, but would be expected as overall satisfaction rises. Another 45% of respondents in 2011 

indicated “neither agree nor disagree” to this item likely indicating it has stayed relatively the same over that 

time period in their opinion. 

The statistical model used to determine key drivers of overall satisfaction identified “satisfaction with 

ThriftLine experiences” as a key driver of overall satisfaction for those few (25% of respondents) who called 

the line. Though only applicable to a quarter of the sample, it suggests that those who did use the line had a 

positive experience and impacts their overall satisfaction with the plan positively. 

86%

80%

84%

79%

84%

82%

51%

53%

9%

13%

11%

13%

14%

16%

45%

42%

5%

7%

5%

8%

5%

Strongly Agree/Agree Neither Agree Nor Disagree Disagree/Strongly Disagree

Using TSP Benefits

It is easy to change how my TSP 

money is invested

Accessing my TSP account online is 

safe and secure

It is easy to change how much 

I contribute to the TSP

In the past two years, the TSP has 

become a better program

Don’t Know/

Not Applicable

10%

21%

13%

22%

Note: 2011 bar charts do not include the “Don’t Know/Not Applicable.”

CSRS FERS

Uniformed 

Services

88% 85% 85%

85% 84% 83%

83% 82% 86%

51% 52% 48%

2011

2011

2011

2011

2008 N/A

2008 N/A

2008 N/A

2008 N/A

84% 79% 78%

81% 79% 78%

80% 80% 84%

57% 51% 51%
18

Male respondents are slightly more likely to say accessing their account is safe and secure (85% vs. 82% 

for females) and has become a better program in the past two years (52% vs. 49% for females). Asian/ 

Pacific Islanders are also more likely to say the program has improved over the past two years (64% vs. 

51% overall). 

Respondents at lower pay levels are somewhat less likely to say it is easy to change contributions, change 

how money is invested, or that access is safe and secure. 

 74% of those earning under $25,000 say it is easy to change contributions 

 80% of those earning under $25,000 and 82% of those earning $25,000–$40,000 say it is easy to 

change how money is invested 

 About 80% of those earning under $60,000 say accessing the account online is safe and secure 

Respondents 50 years of age or older are more likely to say the program has improved over the past two 

years (52% vs. 48% for those under 50 years old) and to express satisfaction with the ThriftLine (87% vs. 

78% for those under 50 years old). 

Those with under 6 years of service are less likely to say the program has improved over the past two years 

(38% vs. 50% overall). 

TSP Website 

Most respondents (approximately 82%) indicate they have used the TSP website and can access some 

features or characteristics. Among these respondents, over three-quarters agree the website saves them 

time (77%) and responds quickly (78%) and over four-fifths agree it is easy to use (82%), available when 

needed (86%), and provides needed information (86%). The results are consistent across retirement 

systems, though uniformed services is slightly less positive on ease of use, responsiveness, or time 

savings. 

85%

54%

8%

40%

7%

6%

Very Satisfied/Satisfied Neither Satisfied Nor Dissatisfied Dissatisfied/Very Dissatisfied

ThriftLine Satisfaction

If you called the TSP ThriftLine in the 

past 12 months and spoke to a 

Participant Service Representative 

(PSR), please indicate your satisfaction 

with the quality of service

Have Not Spoken 

to a PSR in the 

Past 12 Months

75%

Note: 2011 bar chart does not include the “Have Not Spoken to a PSR in the Past 12 Months.”

2008 bar chard does not include “No response” or those selecting “Not Applicable” (54%).

CSRS FERS

Uniformed 

Services

2011 88% 86% 77%

2008 54% 62% 57% 47%

“TSP website explains quite well the different funds, and the calculators 

are extremely helpful.” 

 —FERS participant 
19

In the 2008 survey, 79% indicated satisfaction (Very Satisfied or Satisfied) with “ability to access information 

about my account and general plan features on the TSP Website.” Though not asked specifically in 2011, it 

would likely compare closely to “The TSP website provides the information that I need,” and, as such, would 

indicate an increase in satisfaction with the website over 2008. Given the enhancements to the site since 

2008, this would indicate those enhancements have been favorably received. (See also TSP Design 

Features section for further prior year comparisons.) 

Across the website items, respondents under age 40, those with less tenure (under 6 years), and those 

earning under $40,000 are less likely to be as positive as others, though favorable responses still tend to be 

in the 73% or higher range. 

TSP Website by Demographics 

Total 

Age Tenure Annual Pay 

The TSP website... 

<40 40–49 50+ 

1–5 

years 

6–15 

years 

16+ 

years < $40K > $40K 

...Provides the information I need 86% 83% 86% 87% 79% 85% 88% 84% 87% 

...Is available when I need it 86% 86% 88% 86% 84% 86% 87% 82% 88% 

...Is easy to use 82% 77% 82% 83% 76% 79% 84% 79% 83% 

...Responds quickly 78% 74% 78% 79% 72% 76% 80% 73% 79% 

...Saves me time 77% 73% 78% 77% 69% 74% 78% 72% 78% 

86%

86%

82%

78%

77%

10%

11%

12%

18%

19%

6%

Strongly Agree/Agree Neither Agree Nor Disagree Disagree/Strongly Disagree

TSP Website

Provides the information that I need

Is easy to use

Is available when I need it

Responds quickly

Not Applicable/

Have Not Used

TSP Website

17%

17%

17%

19%

The TSP website...

Saves me time 18%

Note: Bar charts do not include the “Not Applicable/Have Not Used TSP Website.”

CSRS FERS

Uniformed 

Services

88% 85% 85%

87% 86% 86%

85% 82% 79%

81% 77% 75%

78% 77% 73%

Shaded results are significantly different (lower or higher) than other groups in the demographic category. 
20

TSP Design Features 

Respondents are generally satisfied with their ability to access information about their account (85%) and 

the accuracy and timeliness of the form processing (73%)—the latter up from 63% in 2008. Respondents 

are less satisfied with the amount of matching contributions (63%), though 77% of FERS respondents are 

satisfied with the amount of matching contributions, likely more reflective of the overall situation. Most 

respondents are also satisfied with the ability to borrow while actively employed (63%) and withdraw after 

separation from service in ways that effectively meet needs (59%), though about one-third indicated neither 

satisfaction nor dissatisfaction with these two characteristics. Across the features, uniformed services is 

less likely to express satisfaction, especially related to ability to withdraw after separation. This may be an 

area on which to obtain some qualitative feedback from this group. Note that uniformed services has a 

20-year cliff element in its design and this may be contributing to lower perceived satisfaction on this item. 

In fact, satisfaction with “ability to withdraw...” is higher among those with over 15 years of service 

(62% satisfied). 

Female respondents are slightly more likely to be satisfied with matching contributions (66% vs. 61% for 

males), ability to withdraw (67% vs. 61% for males), and accuracy/timeliness of forms processing (75% vs. 

71% for males). 

African-American/Black respondents are more likely to be satisfied with the ability to borrow (79%), while 

Caucasian/White respondents are less so (60%). 

Respondents earning under $40,000 are slightly less likely than the overall sample to be satisfied with the 

ability to access information (81%) and accuracy/timeliness of forms processing (67%). 

85%

79%

73%

63%

63%

44%

63%

51%

59%

52%

11%

14%

22%

30%

18%

20%

33%

43%

34%

41%

19%

36%

4%

6%

7%

7%

7%

7%

Satisfaction with TSP Characteristics

Ability to access information about 

my account

Amount of matching contributions

Accuracy and timeliness of the 

processing of forms submitted to 

the TSP

Ability to borrow from my account 

while actively employed

Don’t Know/

Not Applicable

11%

28%

44%

49%

How satisfied are you with the following characteristic of the TSP?

Ability to withdraw money from my 

account after separation from 

service in ways that effectively 

meet my needs

51%

Very Satisfied/Satisfied Neither Satisfied Nor Dissatisfied Dissatisfied/Very Dissatisfied

Note: Bar charts do not include the “Don’t Know/Not Applicable.”

*2008 question is “Ability to access information about my account and general plan features from the TSP website”

**2008 question is “Ability to withdraw money after separation from service”

CSRS FERS

Uniformed 

Services

87% 86% 81%

76% 74% 68%

48% 77% 47%

66% 68% 54%

63% 64% 47%

2011

2008* NA 82% 80% 76%

2011

2011

2011

2011

2008 36% 36% 70% 27%

2008 45% 61% 55% 42%

2008** 49% 59% 45% 46%

2008 33% 70% 65% 56%
21

Key Drivers of Overall Satisfaction 

To help determine what characteristics of the TSP drive overall satisfaction with the plan, a regressionbased statistical model is used. This model shows what other questions in the survey (often considered 

independent variables) have the most impact on overall satisfaction (dependent variable). To conduct this 

analysis, survey items were combined to create composite measures (e.g., for Ease of Use, the four items 

in Question 7 were combined) to use as input or independent variables. 

The table below shows the specific survey items used in each composite measure for input into the 

statistical model. 

Composite Drivers 

Impact on Overall 

Satisfaction 

Q7: Ease of Use 

It is easy to change how my TSP money is invested 

It is easy to change how much I contribute to the TSP 0.02 

Accessing my TSP account online is safe and secure 

Q9: Satisfaction with Website 

The TSP website... 

0.02 

 Provides the information I need 

 Is easy to use 

 Responds quickly 

 Saves me time 

 Is available when I need it 

Q10: Satisfaction with Features 

Satisfaction with... 

0.05 

 Amount of matching contributions 

 Ability to borrow from my account while actively employed 

 Ability to withdraw money from my account after separation from service in ways that effectively 

 meet my needs 

 Ability to access information about my account 

 Accuracy and timeliness of the processing of forms submitted to the TSP 

Q31: Satisfaction with Information 

The information the TSP provides is helpful in explaining the benefits I receive from the plan 

0.10 

The information available about the TSP helps me make decisions about my TSP account 

The information provided in my annual participant statement is helpful in understanding my TSP 

account balance and investment performance 

The projected monthly income amount on my annual participant statement helps me estimate how my 

TSP account balance might provide income when I retire 

OVERALL MODEL 0.48 
22

The above table provides n2 values, a measure of effect size, for each composite and the overall model. 

These data provide evidence that the composite variables have good predictive validity for overall 

satisfaction. Specifically, when all composite variables are included in the model, they account for 48% of 

the variance in overall satisfaction. 

The n2 values represent the ratio of the variance explained in the dependent variable (overall satisfaction, in 

this case) by a composite measure while controlling for other composite measures. Therefore, we are able 

to determine the specific drivers for each criterion. For more detail and for additional model results on 

drivers of competitiveness and drivers of overall information available to make decisions, see Appendix B. 

The results of this analysis show that satisfaction with the information (Q31) has the strongest 

impact on overall satisfaction. TSP features (Q10) also have a strong positive impact on overall 

satisfaction. Therefore, focusing improvement efforts in these two areas will have the greatest 

opportunity to improve overall satisfaction with the TSP. 

Question 8, “If you called the TSP ThriftLine in the past 12 months and spoke to a PSR, please indicate 

your satisfaction with the quality of service,” is also a good predictor of criteria variables. Specifically, 35% 

of the variance in overall TSP satisfaction is explained by the answer to this question. Although this 

question was only applicable to about a quarter of the sample, it suggests that those who did call in to the 

TSP ThriftLine had a positive experience, and that the phone representatives are effectively serving 

participants who call. 
23

Retirement Income Sources 

Respondents generally rank the TSP, Social Security, and available pensions/annuities in the top three 

sources of income. Not surprisingly, given the retirement system design differences, respondents view 

sources differently depending on the retirement system they have. Across all three systems, though, the 

TSP is cited by about half as a top three source making it a critical source overall. 

Respondents under 40 years of age are more likely to cite the TSP account as a top three source (62% 

rank it in top 3). Among the under-40 group, this is the most often cited top-three source. FERS/CSRS 

annuity and social security are most often mentioned in the top three for those age 50 or older (62% and 

49%, respectively), though TSP is third (47%). 

TSP importance as a source is consistent across tenure, education, and race/ethnicity. Those earning 

under $40,000 are less likely to cite the TSP in the top three compared to those earning more, yet 45% cite 

it as a top thee source. Social security is most often cited in the top three for this group (52%). 

Top Sources of Retirement Income

Top 3 by System

<1%

9%

21%

13%

20%

5%

18%

6%

52%

26%

5%

83%

CSRS

1%

7%

14%

11%

14%

9%

13%

12%

52%

67%

15%

52%

FERS

1%

6%

13%

27%

16%

18%

19%

15%

49%

32%

72%

15%

Uniformed 

Services

1%

8%

16%

16%

17%

10%

17%

11%

51%

42%

29%

51%

Ranked in 

Top 3

Other employer stock ownership or purchase plan <1%

Home equity 1%

Other personal savings 2%

Traditional or Roth IRA 2%

3% Mutual funds, stocks, bonds, or brokerage accounts (not 

tax deferred)

3% Other employer retirement savings account (e.g., 401(k), 

Roth 401(k))

TSP account 6%

Uniformed services (military) pension 19%

FERS/CSRS annuity 37%

Ranked Most 

Important 

Social Security 10%

Other employer pension plan 5%

Income from continued work in retirement 4%

Top 3 by System

<1%

9%

21%

13%

20%

5%

18%

6%

52%

26%

5%

83%

CSRS

1%

7%

14%

11%

14%

9%

13%

12%

52%

67%

15%

52%

FERS

1%

6%

13%

27%

16%

18%

19%

15%

49%

32%

72%

15%

Uniformed 

Services

1%

8%

16%

16%

17%

10%

17%

11%

51%

42%

29%

51%

Ranked in 

Top 3

Other employer stock ownership or purchase plan <1%

Home equity 1%

Other personal savings 2%

Traditional or Roth IRA 2%

3% Mutual funds, stocks, bonds, or brokerage accounts (not 

tax deferred)

3% Other employer retirement savings account (e.g., 401(k), 

Roth 401(k))

TSP account 6%

Uniformed services (military) pension 19%

FERS/CSRS annuity 37%

Ranked Most 

Important 

Social Security 10%

Other employer pension plan 5%

Income from continued work in retirement 4%

Top Sources
24

Account Actions and Approach 

Respondents with access to another employer’s retirement savings account (e.g., 401k or IRA) and 

indicating a potential rollover action applies to them are split in terms of their considerations. About 11% 

have already rolled their other account into TSP, 38% would consider rolling it in, and 41% would not

consider rolling it in. Those viewing the TSP as well above or above other employers’ retirement savings 

plan are slightly more likely to consider rollovers (21% versus 14% for others). 

Similar to results for those who may leave Federal employment, most respondents (63%) over age 50 plan 

to leave money in their TSP account until needed or required to withdraw, another quarter (24%) indicate 

they would receive monthly payments from the TSP. 

Among those who say they may leave Federal employment prior to retirement, the overwhelming majority 

would plan to leave some or all of their money in their TSP accounts (70%). 

Actions Regarding Another Employer’s Retirement Account

53%

11%

21%

38%

41% I would not consider rolling another account into 

my TSP account

I would consider rolling another account into 

my TSP account

Which of the following actions have you taken or have considered taking regarding another 

employer’s retirement savings account (e.g., 401(k) or an IRA)?

I have already rolled another employer’s retirement 

savings account (e.g., 401(k) or traditional/Roth 

IRA) into another account (but not my TSP account)

Not applicable (e.g., I have never had a 401(k) 

from another employer or an IRA account)

I have already rolled another account into 

my TSP account

Note: Percentages do not include the 1,360 (16%) employees who indicate they “Do Not Know.”

*

*

*

*

*Percentages among those where action is Applicable (removing “Not Applicable” respondents).

Plans for Money in TSP if You Leave Federal Service Before Retirement 

Eligibility

54%

70%

20%

9%

7%

3%

2%

1%

I do not plan to leave the Federal service before 

I am eligible to retire

If you plan to leave the Federal Government or the uniformed services before you are eligible 

to retire, what are you going to do with the money in your TSP account?

Leave all or some in the TSP

Roll over some or all to an IRA

Roll over some or all to a 401(k) plan with 

another employer

Withdraw some or all to pay down debt

Withdraw some or all to buy a home

Withdraw some or all to take a vacation

Withdraw some or all to pay tuition

Note: Percentages do not include the 824 (10%) employees who indicate they “Do Not Know.”

*

*

*

*

*

*

*

*Percentages do not include those who do not plan to leave employment before retirement.
25

Nearly three-fifths (59%) of respondents are comfortable choosing investment funds to meet their goals. 

This result is consistent across retirement systems. Respondents under 40 years of age are slightly less 

likely to be comfortable choosing investment funds (53%), while those 50 or older are more likely to be 

confident (60%). A similar pattern exists by tenure, with those with fewer than 6 years of service less likely 

to be confident (50%) compared to those with over 11 years of service (60%). 

Self described investment approaches appear to have become more cautious over the prior survey 

administration years with fewer respondents describing their investment approach as very or somewhat 

aggressive. Similar to past results, uniformed services respondents tend to be the most aggressive, 

followed by FERS with CSRS respondents being the most cautious relative to others. This result is not 

unexpected given economic concerns and general market uncertainty. 

Not surprisingly, self-reported investment approaches change with age, tenure, and annual pay. Younger, 

less-tenured, and those earning less are more likely to describe themselves as very or somewhat 

aggressive (46% of those under age 40 versus 23% of those age 50 or older; 38% of those with under 

16 years of service versus 26% of those with 16 or more years; and 23% of those earning under $60,000 

versus 34% of those earning over $60,000). 

African-American/Black respondents are less likely to describe themselves as very or somewhat aggressive 

in their investment approach (20%) compared to the overall sample (29%). 

59% 27% 14%

Comfortable With Investment Decisions

I am comfortable choosing the 

appropriate investment fund(s) to meet 

my savings goals

Strongly Agree/Agree Neither Agree Nor Disagree Disagree/Strongly Disagree

CSRS FERS

Uniformed 

Services

59% 57% 60%

TSP Money Investment Approach

10%

16%

17%

19%

21%

24%

32%

28%

30%

7%

11%

12%

22%

26%

29%

Very Aggressive/High Risk

How would you describe your approach to investing the money 

in your TSP account?

Somewhat Aggressive/Moderate Risk

Balanced between Aggressive and Cautious

Somewhat Cautious/Low Risk

Very Cautious/No Risk

Note: Percentages do not include the 638 (8%) employees who indicate they “Don’t Know/Not Applicable.”

2011

2008

2006

2011

2008

2006

2011

2008

2006

2011

2008

2006

2011

2008

2006

CSRS FERS

Uniformed 

Services

6% 7% 10%

9% 11% 12%

—— —

16% 20% 30%

19% 22% 32%

—— —

27% 28% 34%

25% 28% 29%

—— —

29% 26% 18%

26% 23% 16%

—— —

22% 19% 9%

21% 16% 11%

—— —
26

When choosing investment funds, respondents ranked economic factors, fund risk level, expected future 

fund performance, past fund performance and length of time until money is needed as top three most 

influential. This is consistent across systems. 

Younger respondents (under age 40) are more likely than those 50 or older to cite fellow participants/ 

friends/family (14% versus 7% ranked in top three)—similar results for less tenured (1–2 years) compared 

to more tenured (3 or more years). 

Top 3 Factors Influencing TSP Plan Investment Funds

Other 2% 2%

Information on the TSP website 2% 10%

Funds’ past performance 8% 33%

Expectation of funds’ future performance 10% 34%

Reputation of funds manager <1% 1%

Benefits/Human Resources representative 1% 3%

Financial investment publications or websites not provided by TSP 1% 6%

TSP publications 1% 7%

Fellow participants/friends/family 2% 8%

Professional financial planner 5% 9%

I am unsure what factors to consider, so I leave funds where they are automatically placed 11% 17%

Funds’ risk level 12% 40%

Economic factors (stock market, inflation, etc.) 23% 44%

33%

Ranked in 

Top 3

Ranked Most 

Influential 

Length of time until money is needed/my age 12%

Other 2% 2%

Information on the TSP website 2% 10%

Funds’ past performance 8% 33%

Expectation of funds’ future performance 10% 34%

Reputation of funds manager <1% 1%

Benefits/Human Resources representative 1% 3%

Financial investment publications or websites not provided by TSP 1% 6%

TSP publications 1% 7%

Fellow participants/friends/family 2% 8%

Professional financial planner 5% 9%

I am unsure what factors to consider, so I leave funds where they are automatically placed 11% 17%

Funds’ risk level 12% 40%

Economic factors (stock market, inflation, etc.) 23% 44%

33%

Ranked in 

Top 3

Ranked Most 

Influential 

Length of time until money is needed/my age 12%

When selecting/changing your TSP plan investment fund(s), rank the Top 3 factors that most 

influence your decisions.
27

Asset Allocation in the TSP 

The fund allocation among respondents is consistent with the sample, indicating the respondent population 

is a good representation of the population on fund allocation bases. 

Survey results indicate a strong link between self-reported investment risk approaches and actual 

investment choices. The percentage in L funds is fairly consistent across risk levels, indicating it has 

appeal to any perceived risk, except for “No-Risk” respondents. 

Those with 100% in G Fund, not surprisingly, are more likely to be cautious investors, though 28% see 

themselves as balanced or aggressive. Those with 100% in L Funds are less likely to fall into either extreme 

(very aggressive or very cautious) compared to those in non-diverse asset mix categories. 

Risk Response by Percentage of Total TSP Account Balance by Fund

$53,728.19

$58,908.66

$51,326.88

$52,367.68

$48,845.77

Median

3%

12%

24%

33%

38%

C Fund

3%

7%

9%

6%

2%

F Fund

1%

3%

9%

17%

22%

S Fund

<1%

2%

7%

12%

16%

I Fund

3%

15%

16%

14%

10%

L Fund

$81,008.46

$96,507.02

$88,378.20

$93,782.91

$90,042.80

Average

91%

60%

36%

18%

11%

G Fund

Low Risk $173,230,096

Moderate Risk $151,834,544

High Risk $49,343,456

Self-Reported 

Risk Tolerance

Total TSP 

Account 

Balance 

Balanced $194,166,912

No Risk $100,693,520 $53,728.19

$58,908.66

$51,326.88

$52,367.68

$48,845.77

Median

3%

12%

24%

33%

38%

C Fund

3%

7%

9%

6%

2%

F Fund

1%

3%

9%

17%

22%

S Fund

<1%

2%

7%

12%

16%

I Fund

3%

15%

16%

14%

10%

L Fund

$81,008.46

$96,507.02

$88,378.20

$93,782.91

$90,042.80

Average

91%

60%

36%

18%

11%

G Fund

Low Risk $173,230,096

Moderate Risk $151,834,544

High Risk $49,343,456

Self-Reported 

Risk Tolerance

Total TSP 

Account 

Balance 

Balanced $194,166,912

No Risk $100,693,520

Total TSP Account Balance by Fund

2.57%

2.26%

L 2030 

Fund

2.60%

2.05%

L 2040 

Fund

0.24%

0.20%

L 2050 

Fund

21.88%

20.59%

C Fund

5.86%

6.35%

F Fund

8.19%

8.72%

S Fund

6.25%

6.27%

I Fund

2.58%

3.33%

L Income 

Fund

4.04%

4.86%

L 2020 

Fund

Sample Data 45.79%

Respondent Data 45.37%

G Fund

2.57%

2.26%

L 2030 

Fund

2.60%

2.05%

L 2040 

Fund

0.24%

0.20%

L 2050 

Fund

21.88%

20.59%

C Fund

5.86%

6.35%

F Fund

8.19%

8.72%

S Fund

6.25%

6.27%

I Fund

2.58%

3.33%

L Income 

Fund

4.04%

4.86%

L 2020 

Fund

Sample Data 45.79%

Respondent Data 45.37%

G Fund
28

Risk Response by Asset Mix Classes 

Self-Reported 

Risk Tolerance 

Asset Mix Classes 

100% 

G Fund 

(n = 2,184) 

100% 

L Fund 

(n – 612) 

Non-Diverse/ 

1 asset class/ 

not L or G 

(n = 1,138) 

Non-Diverse/ 

2 asset classes/ 

not L 

(n = 999) 

Diverse/ 

3 asset classes 

(n = 2,314) 

L Fund + 

Other 

(n = 955) 

Very aggressive/high risk 2% 8% 12% 25% 9% 7% 

Somewhat aggressive/ 

moderate risk 8% 27% 20% 40% 31% 28% 

Balanced between 

aggressive and cautious 18% 38% 28% 27% 36% 39% 

Somewhat cautious/ 

low risk 30% 23% 29% 8% 20% 21% 

Very cautious/no risk 43% 4% 11% 1% 4% 5% 

As expected, as participants age, they are more likely to include a greater portion of assets in the G Fund 

in their portfolio. Respondents under age 30 have a relatively large portion (35%) of their funds in the 

G Fund, which may signal further efforts to help employees understand the value of diversification should 

be considered. 

Though we may expect greater use of L Funds at younger ages since they were more recently introduced, 

the low use at higher ages (where still potentially appropriate) may signal a need to educate further on 

this option. 

Age by Percentage of Total TSP Account Balance by Fund

70 and over $204,397,744 54% 38% 8% $112,740.07 $67,358.84

$84,040.59

$65,668.70

$31,217.13

$15,854.51

$4,872.98

Median

40%

43%

53%

51%

30%

One Other Asset Class

(F, C, S, I)

11%

14%

19%

28%

35%

L Fund

$112,732.77

$95,691.44

$57,200.11

$28,985.55

$10,241.78

Average

48%

43%

28%

21%

35%

G Fund

50–59 $181,813,728

30–39 $22,956,554

Under 30 $4,035,262

Total TSP 

Account Balance 

40–49 $83,969,760

60–69 $200,100,672

70 and over $204,397,744 54% 38% 8% $112,740.07 $67,358.84

$84,040.59

$65,668.70

$31,217.13

$15,854.51

$4,872.98

Median

40%

43%

53%

51%

30%

One Other Asset Class

(F, C, S, I)

11%

14%

19%

28%

35%

L Fund

$112,732.77

$95,691.44

$57,200.11

$28,985.55

$10,241.78

Average

48%

43%

28%

21%

35%

G Fund

50–59 $181,813,728

30–39 $22,956,554

Under 30 $4,035,262

Total TSP 

Account Balance 

40–49 $83,969,760

60–69 $200,100,672
29

Communication Preferences 

Respondents vary in terms of most preferred sources of communication, though they are significantly less 

likely to prefer telephone compared to postal mail and electronic means (website and email messaging). 

Even with the equal preference for postal mail and electronic means, nearly three-fifths (59%) use the 

website (either from home or work) as primary means to access information, while just over one-third (38%) 

count on the quarterly and/or annual mailed statement. Communication preferences are fairly consistent 

across subgroups, though uniformed services is more likely to rank electronic sources and less likely to 

rank postal mail as preferred sources. 

As expected, those under 40 years of age are more likely to prefer electronic methods, but older 

respondents, those earning less, or those with less education are less likely to prefer electronic. That said, 

online/website is still second in preference only to postal mail for these groups. 

Total 

Top 3 

Age Annual Pay Education 

<40 

40–

49 50+ < $60K 

> 

$60K 

Some 

College or 

Less 

College 

Degree or 

More 

Postal mail 79% 78% 79% 81% 81% 79% 80% 79% 

Online/website 73% 87% 82% 69% 67% 80% 68% 78% 

Email messaging/alerts 68% 83% 80% 63% 61% 76% 60% 74% 

Telephone representative 22% 14% 13% 26% 27% 17% 27% 19% 

Text messaging/alerts 7% 11% 9% 6% 7% 7% 7% 7% 

Online chat 3% 5% 3% 2% 4% 3% 5% 3% 

Other (none) 2% 1% 1% 2% 2% 1% 2% 2% 

Communications Preferences

Ranked Most Preferred

2%

3%

7%

22%

68%

73%

79%

Ranked in 

Top 3

<1%

<1%

<1%

<1%

15%

27%

46%

CSRS

<1%

<1%

<1%

<1%

18%

27%

42%

FERS

<1%

<1%

<1%

1%

30%

36%

27%

Uniformed 

Services

Other (none) <1%

Telephone representative 3%

Online/website 30%

Postal mail 39%

Ranked Most 

Preferred 

Email messaging/alerts 21%

Text messaging/alerts <1%

Online chat <1%

Ranked Most Preferred

2%

3%

7%

22%

68%

73%

79%

Ranked in 

Top 3

<1%

<1%

<1%

<1%

15%

27%

46%

CSRS

<1%

<1%

<1%

<1%

18%

27%

42%

FERS

<1%

<1%

<1%

1%

30%

36%

27%

Uniformed 

Services

Other (none) <1%

Telephone representative 3%

Online/website 30%

Postal mail 39%

Ranked Most 

Preferred 

Email messaging/alerts 21%

Text messaging/alerts <1%

Online chat <1%

Rank the Top 3 ways you prefer to receive information from the TSP.

Top Sources

“People need to be reminded that the TSP is a very important part of 

their projected retirement income and ability to retire.” 

 —CSRS participant 

Shaded results are significantly different than others in the demographic group. 
30

Communications Access 

Nearly nine out of ten respondents (89%) say they have Internet access at home, especially uniformed 

services (94% have Internet access at home). Four-fifths (82%) of active respondents say they can access 

the TSP website from work. Work access is lowest among active FERS respondents (78%) and highest 

among active uniformed services (87%). Online from home is the most often used method to access TSP 

account information, especially for uniformed services. Few respondents prefer the TSP ThriftLine relative 

to on-line and mailed statement options. 

Communications Access

39%

25%

20%

13%

3%

Online from home

How do you most often access or receive your TSP account information?

Mailed quarterly participant statements

Online from work

Mailed annual statement

Call the TSP ThriftLine

Note: Percentages do not include the 446 (5%) employees who “Do Not Review My Account Information.”

CSRS FERS

Uniformed 

Services

35% 36% 46%

29% 27% 20%

20% 20% 20%

13% 14% 14%

3% 4% 1%
31

Mobile phone and mobile smartphone use is also reasonably high among respondents, which may provide 

opportunities to introduce TSP mobile applications for communication, education, and potentially 

transactional purposes. Among all respondents, 86% use a mobile phone and one-third of those with a 

mobile phone use a smartphone. Nearly every respondent (97%) under age 40 uses a mobile phone, and 

two-thirds of those (64%) use a smartphone. 

Though the majority of respondents do not regularly use social media, one-third (33%) regularly use at least 

one of these sites. These are most popular among uniformed services participants, and, not surprisingly, 

those under 40 years of age (64% of those under 40 use social media regularly; 95% of users under 40 use 

Facebook, MySpace, or other social sites). 

Social Media Usage

67%

30%

8%

3%

1%

1%

I do not regularly use any social media site

Do you regularly use any of the following social media sites?

Twitter or similar posting network

GovLoop

Other

Foursquare or other location-based 

mobile social network <1%

Facebook, MySpace, or similar social network

LinkedIn or similar professional network

CSRS FERS

Uniformed 

Services

78% 71% 50%

20% 27% 45%

4% 6% 15%

1% 3% 5%

1% 1% 1%

1% 1% 1%

<1% <1% <1%
32

Closing 

Overall participants are quite satisfied with the TSP, its competitiveness compared to similar private sector 

plans, its ease of use, its safety and security, its design features, and related website. Recent 

enhancements such as auto-enrollment and website improvements are viewed positively and are having an 

impact both preparing participants for retirement and improving overall satisfaction with the plan. 

A continued focus on providing information and education on TSP participant benefits, diversification of 

investments, and appropriate support for plan decisions will provide the greatest impact on overall 

satisfaction. Consider short video elements, mobile applications, and/or social media channels as younger 

participants are using these tools more significantly. 

Since most respondents access TSP information electronically, continued enhancements and 

improvements in the site should be effective in adding value. That said, the relatively smaller group who do 

use the ThriftLine see this positive experience as very important to their overall satisfaction, and therefore 

continued training and strong customer service skills for those manning the ThriftLine will be important. 

A continued focus on increasing participation would be effective, given the importance placed on TSP as a 

source of retirement income. The primary suggestion to help increase participation from respondents was to 

provide or increase a match component. 

“I think the TSP is a wonderful program. It has always seemed especially 

helpful to Federal employees. A shining example of what a well-run 

program our government can comprise.” 

 —FERS participant 
33

Appendix A: Survey 

Created: 07/21/11

By: slw

Master Marks : Layers 9 & 10

Timing & Program Marks: Layer 6

Response Positions: Layer 1

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Color 4: Layer 4

Color 5: Layer 5

Black: Layer 6

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6345.02

Modified: 08/30/11

By: slw

– Page 2 –

5. If you are a FERS (Federal Employees Retirement System) employee, your agency matches your contribution

dollar-for-dollar on the first 3% of basic pay you contribute per pay period, and 50 cents on the dollar on the 

2%. If you are not currently contributing at least 5% of your basic pay, please tell us why. (Select all that apply

I am not a FERS employee (Continue to Question 6)

I am a FERS employee and I am contributing at least 5% of my basic pay (Continue to Question 6)

I am separated from Federal service and am not eligible to contribute

I cannot afford that level of savings

I use other investments outside the TSP plan instead

I did not know my agency matched up to 5% of the basic pay I contribute

I do not think I need to contribute that much to meet my goals

Other, please specify: 

6. Which of the following actions are you considering taking in the next 12 months regarding your TSP contribu

or investments? (Select all that apply.)

Start or restart my TSP contributions 

Increase my TSP contributions

Reduce, but not stop, my TSP contributions

Stop my TSP contributions altogether

Transfer my existing account balance among the TSP funds (interfund transfer)

Change my allocation for investing new contributions (contribution allocation)

Borrow money from my TSP account

Withdraw money from my TSP account while in service (hardship or age-based withdrawal)

Withdraw money from my TSP account after leaving Federal service (partial or full withdrawal)

Speak with a financial advisor regarding my TSP account

I am not considering any of the above actions in the next 12 months

PART B: YOUR TSP BENEFITS AND SERVICES

7. Indicate whether you agree or disagree with the

following statements: 

(Select one response for each.)

• It is easy to change how my TSP money is invested ..........

• It is easy to change how much I contribute to the TSP .........

• Accessing my TSP account online is safe and secure .........

• In the past two years, the TSP has become a better program ....

Do

Kn

N

Appl

Strongly

Disagree Disagree

Neither

Agree Nor

Disagree

Agree Strongly

Agree

y yy g y(ppy)

I am currently contributing to the TSP (Continue to Question 5)

I have already contributed the maximum amount allowed for the year

I do not understand the TSP

I do not earn enough money to contribute right now

I will need to access the money before retirement

I am not satisfied with the investment options OR I can get better returns elsewhere

I am not sure how to sign up for the TSP OR I was not aware the TSP is available

My contributions were suspended because of my hardship withdrawal

I think I am too young to save for retirement

I do not need to save for retirement

I do not need the tax benefit of TSP savings

I am concerned about possible investment losses

I do not know how I would invest my contributions

I do not receive matching contributions

I am already separated from service

Other, please specify: 
Created: 07/21/11

By: slw

Master Marks : Layers 9 & 10

Timing & Program Marks: Layer 6

Response Positions: Layer 1

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Color 4: Layer 4

Color 5: Layer 5

Black: Layer 6

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6345.03

Modified: 08/31/11

By: slw

– Page 3 –

continued

11. Based on what you know or have heard, compared with other employers’ retirement savings plans 

(e.g., 401(k)), the TSP is...

Well Above Others

Above Others

About the Same As Others

Below Others

Well Below Others

10. How satisfied are you with each of the following

characteristics of the TSP? 

(Select one response for each.)

• Amount of matching contributions ...................

• Ability to borrow from my account while actively employed . . .

• Ability to withdraw money from my account after separation 

from service in ways that effectively meet my needs.......

• Ability to access information about my account ..........

• Accuracy and timeliness of the processing of forms 

submitted to the TSP ...........................

D

K

App

Very

Dissatisfied Dissatisfied

Neither

Satisfied

Nor

Dissatisfied

Satisfied Very

Satisfied

PART C: YOUR RETIREMENT PLANNING

12. I plan to continue working for the Federal Government or uniformed services until I am eligible to retire.

Strongly Agree

13. How likely are you to work for pay after you retire from the Federal Government or uniformed services?

Very Likely

14. At what age do you plan to retire from all full-time employment? (Select one response.)

I am already retired

Younger than 55

55 to 59

60 to 61

62 to 64

65

66 or older

Never retire

Don’t know

Agree Neither Agree Nor Disagree Disagree Strongly Disagree D

Somewhat Likely Neither Likely Nor Unlikely Somewhat Unlikely Very Unlikely D

ypppp(

please indicate your satisfaction with the quality of service.

Very Satisfied

Satisfied

Neither Satisfied Nor Dissatisfied

Dissatisfied

Very Dissatisfied

Have Not Spoken to a PSR In The Past 12 Months

State your level of agreement with each statement.

(Select one response for each.)

• Provides the information I need.......................

• Is easy to use ..................................

• Responds quickly ................................

• Saves me time ..................................

• Is available when I need it ..........................

Ap

H

U

W

Strongly

Disagree Disagree

Neither

Agree Nor

Disagree

Agree Strongly

Agree

9. The TSP website:
Created: 07/21/11

By: slw

Master Marks : Layers 9 & 10

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6345.04

Modified: 08/30/11

By: slw

– Page 4 – 12345

16. Rank the Top 5 most important sources of retirement income you expect to receive in retirement. Write the nu

“1” in the space to the left of the most important source of retirement income, a “2” next to the second most importan

source, and so on. Please use each number only once. You may rank less than 5 if appropriate.

FERS/CSRS annuity

Home equity 

Income from continued work in retirement

Mutual funds, stocks, bonds, or brokerage accounts (not tax-deferred)

Other employer’s pension plan 

Other employer’s retirement savings account (e.g., 401(k), Roth 401(k), etc.)

Other employer’s stock ownership or stock purchase plan

Other personal savings

Social Security

Traditional or Roth IRA

TSP account

Uniformed services (military) pension

17. Approximately what percentage of your pre-retirement annual pay do you think you will need to live comfortably

when you retire? (Select one response.) For example, if you think you will require half of your annual pay, please choose

“50% to 59%”; if you think you will require the same amount as you earn before retirement, choose “100% to 109%”.

Less than 50% 

50% to 59% 

60% to 69% 

70% to 79% 

80% to 89% 

18. I am confident that I will be able to replace my desired percentage of pay from all my sources of retirement

income (Federal pension, TSP, other company plans, Social Security, personal savings, etc.)

Strongly Agree

19. How much planning or preparation have you

already done in each of the following areas: 

(Select one response for each.)

• Determining how much to save .........................

• Determining where to invest ...........................

• Managing short-term financial needs (day-to-day expenses)......

• Determining life insurance/disability insurance needs ..........

• Retirement income/expenses ..........................

• Retirement lifestyle (e.g., where to live) ...................

• Determining health care costs during retirement ..............

• Determining the impact of inflation on my retirement income .....

Not a

important 

for m

No planning,

but it is an

important need

for me

Some planning,

but need to do

more

Enough

planning, no

more needed

Agree Neither Agree Nor Disagree Disagree Strongly Disagree

90% to 99% 

100% to 109% 

110% to 119% 

120% or more

y yypg py(p)

5 years or less

6 to 10 years

11 to 15 years

16 to 20 years

21 to 25 years

25 or more years

Don’t know
Created: 07/21/11

By: slw

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6345.05

Modified: 08/31/11

By: slw

– Page 5 – 12345

continued

21. If you plan to leave the Federal Government or the uniformed services before you are eligible to retire, wha

you going to do with the money in your TSP account? (Select all that apply.)

I do not plan to leave the Federal service before I am eligible to retire

Leave all or some in the TSP

Withdraw some or all to buy a home

Withdraw some or all to take a vacation

Withdraw some or all to pay down debt

Withdraw some or all to pay tuition

Roll over some or all to an IRA

Roll over some or all to a 401(k) plan with another employer

Don’t know

22. If you are over age 50, what do you plan to do with your TSP account balance when you leave or retire fro

Federal service? (Select all that apply.)

I am not over age 50 (Continue to Question 23)

Leave it in the TSP until I need the money or until I am required to begin withdrawals

Take a partial withdrawal

Take a single payment in cash and close the account

Receive monthly payments from the TSP

Purchase a TSP annuity

Receive some combination of a single payment, monthly payments, and/or TSP annuity

Roll over some or all of my account to an IRA

Roll over some or all of my account to a 401(k) plan with another employer

Don’t know

PART D: YOUR RETIREMENT SAVINGS AND INVESTING

24. Which of the following best describes your approach to saving for retirement? (Select one response.)

I have not saved for retirement yet because I cannot afford it

I have not saved for retirement yet because I do not know how to get started

I plan to save for retirement, but have not done it yet

I save money for retirement from time to time, when I can afford it

I make it a point to save for retirement regularly, but I do not really have a strategy or a long-term plan

I save regularly for retirement with a long-term plan in mind

Although I have been saving for retirement, I need to “catch up” to meet my retirement goals

I think I am too young to save for retirement

I assume the Federal retirement benefits I will receive in retirement (including Social Security, but excluding the TSP) will 

sufficient for my retirement

25. I am comfortable choosing the appropriate investment fund(s) to meet my savings goals.

Strongly Agree

23. Which would be more valuable to you at retirement? (Select one response.)

A lump sum of $250,000

A payment of $2,000 per month, beginning at retirement and payable as long as I live

Don’t know

g yg gg py

retirement savings account (e.g., 401(k) or an IRA)? (Select all that apply.)

I have already rolled another account into my TSP account

I have already rolled another employer’s retirement savings account (e.g., 401(k)) or traditional/Roth IRA into another acco

(but not my TSP account)

I would consider rolling another account into my TSP account

I would not consider rolling another account into my TSP account

Not applicable (e.g., I have never had a 401(k) from another employer or an IRA account)

Don’t know

Agree Neither Agree Nor Disagree Disagree Strongly Disagree
Created: 07/22/11

By: slw

Master Marks : Layers 9 & 10

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6345.06

Modified: 08/24/11

By: slw

– Page 6 –

27. Rank the Top 3 factors that most influence your decisions when selecting/changing your TSP plan investmen

fund(s). Write the number “1” in the space to the left of the factor that is most influential to you, a “2” next to the sec

most influential factor, and a “3” next to the third most influential factor. Please use each number only once. 

yyppg y y

(Select one response.)

Very aggressive/High risk

Somewhat aggressive/Moderate risk

Balanced between aggressive and cautious

Somewhat cautious/Low risk

Very cautious/No risk

Don’t know/Not applicable

PART E: YOUR TSP COMMUNICATIONS

28. Rank the Top 3 ways you prefer to receive information from the TSP. Write the number “1” in the space to the le

your most preferred source, a “2” to the left of your second most preferred source, and a “3” to the left of your third m

preferred source. Please use each number only once.

29. How do you most often access or receive your TSP account information? (Select one response.)

Online from work

Online from home

Mailed quarterly participant statements

Mailed annual statement

Call the TSP ThriftLine

I do not review my account information

Benefits/Human Resources representative

Economic factors (stock market, inflation, etc.)

Expectation of funds’ future performance

Fellow participants/friends/family

Financial investment publications or web sites not provided by TSP

Funds’ past performance

Funds’ risk level

Information on the TSP website

Length of time until money is needed/my age

Professional financial planner

Reputation of funds manager

TSP publications

I am unsure what factors to consider, so I leave funds where they are automatically placed

Other, please specify:

Online/website

Email messaging/alerts

Text messaging/alerts

Telephone representative

Online chat

Postal mail

Other, please specify: 
Created: 07/22/11

By: slw

Master Marks : Layers 9 & 10

Timing & Program Marks: Layer 6

Response Positions: Layer 1

Color 3: Layer 1

Color 4: Layer 4

Color 5: Layer 5

Black: Layer 6

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6345.07

Modified: 08/25/11

By: slw

continued

– Page 7 –

yy(p)

Daily

Weekly

Monthly

Quarterly

Every six months

Annually

Rarely

Never

31. Indicate whether you agree or disagree with the

following statements: 

(Select one response for each.)

• The information the TSP provides is helpful in explaining 

the benefits I receive from the plan ..................

Do

Kn

N

Appl

Strongly

Disagree Disagree

Neither

Agree Nor

Disagree

Agree Strongly

Agree

• The information available about the TSP helps me make

decisions about my TSP account ...................

• The information provided in my annual participant statement 

is helpful in understanding my TSP account balance and

investment performance .........................

• The projected monthly income amount on my annual 

participant statement helps me estimate how my 

TSP account balance might provide income when I retire . . .

OVERALL SATISFACTION

32. Overall satisfaction with the TSP...

Very Satisfied

Satisfied

Neither Satisfied Nor Dissatisfied

Dissatisfied

Very Dissatisfied

Don’t Know/Not Applicable

PART F: ABOUT YOU

33. Age:

Under 30

30-39

40-49

50-59

60-69

70 or over

Your answers to the following will help us determine whether different employee groups have different opinion

perspectives, and needs. (Please select one response for each question unless otherwise noted.)

34. Gender:

Female

Male

35. Race/Ethnic Identity:

African-American/Black

Asian or Pacific Islander

Caucasian/White

Hispanic/Latin American

Native American or Alaskan Native

Multi-racial
Created: 07/22/11

By: slw

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6345.08

Modified: 08/31/11

By: slw

PART G: YOUR COMMENTS

46. Please provide any comments or suggestions you have to improve the TSP features, website, and/or

communications for you and/or to encourage greater participation in the TSP.

12345 ©Intelliscan, Inc. Printed in U.S.A. TF6345 (07/11) 0987654321

Thank you for your participation!

y

$25,000 or less

$25,001-$40,000

$40,001-$60,000

$60,001-$80,000

$80,001-$100,000

$100,001-$150,000

$150,001 or more

45. Do you regularly use any of the following social

media sites? (Select all that apply.)

I do not regularly use any social media sites 

(Continue to Question 46)

Facebook, MySpace, or similar social network

Twitter or similar posting network

LinkedIn or similar professional network

Foursquare or other location-based mobile social net

GovLoop or other government-oriented social networ

Other, please specify: 

37. Highest Education Level:

Some High School or less

High School Graduate

Some College

College Graduate

Some Advanced/Post-Graduate Education

Advanced/Post-Graduate Degree

38. Homeowner:

Yes

No

39. Marital Status:

Married (Continue to Question 40)

Single 

Widowed 

Divorced 

40. If you selected “Married,” is your spouse offered a

retirement benefit by his or her employer?

Yes

No

I am not married

ypyy 

Government/uniformed services:

Years

42. Do you have Internet access at home?

Yes

No

43. Can you access the TSP website from work?

Yes

No

44. Do you use a mobile phone?

Yes, a standard mobile phone

Yes, a smartphone (iPhone, Android, Blackberry, etc

No

0

1

2

3

4

5

6

7

8

9

0

1

2

3

4

5

6

7

8

9

0

1

2

3

4

5

6

0

1

2

3

4

5

52 Years

Example

(Skip to Question 41)
34

Appendix B: Key Drivers of Overall Satisfaction 

The above table provides n2 values, a measure of effect size, for each composite and the overall model. 

These data provide evidence that the composite variables have good predictive validity for the identified 

criteria variables (overall satisfaction, perceived competitiveness, and information available). Specifically, 

when all composite variables are included in the models, they account from 22% to 48% of the variance in 

the criteria variables of interest. 

The n2 values represent the ratio of the variance explained in the dependent variable (e.g. overall 

satisfaction or perceived competitiveness or information available) by a predictor while controlling for other 

predictors. Therefore, we are able to determine the specific drivers for each criterion.

0.48

0.10

0.05

0.02

0.02

Overall satisfaction with the 

TSP...

(Question 32)

Overall Model 0.22 0.29

Removed from analysis because 

the item is part of the scale 0.03

Satisfaction with Information 

(a = 88)

Question 31 Composite

0.10 0.02

Satisfaction with Features 

(a = .83)

Question 10 Composite

0.05 Removed from analysis because the 

n was practically zero

Satisfaction with Website 

(a = .94)

Question 9 Composite

0.01 Removed from analysis because the 

n was practically zero

Ease of Use (a = .81)

Question 7 Composite

The information available 

about the TSP helps me 

make decision about my TSP 

account. 

(Question 31_2)

Based on what you know or 

have heard, compared with 

other employers’ retirement 

savings plan (e.g., 401(k)), the 

TSP is...

(Question 11)

0.48

0.10

0.05

0.02

0.02

Overall satisfaction with the 

TSP...

(Question 32)

Overall Model 0.22 0.29

Removed from analysis because 

the item is part of the scale 0.03

Satisfaction with Information 

(a = 88)

Question 31 Composite

0.10 0.02

Satisfaction with Features 

(a = .83)

Question 10 Composite

0.05 Removed from analysis because the 

n was practically zero

Satisfaction with Website 

(a = .94)

Question 9 Composite

0.01 Removed from analysis because the 

n was practically zero

Ease of Use (a = .81)

Question 7 Composite

The information available 

about the TSP helps me 

make decision about my TSP 

account. 

(Question 31_2)

Based on what you know or 

have heard, compared with 

other employers’ retirement 

savings plan (e.g., 401(k)), the 

TSP is...

(Question 11)

Note: Numbers in cells represent the n2

Key Drivers of Overall Satisfaction
35

The table above provides the zero order correlations (i.e., direct relationship) between key predictor and 

criteria variables. The four composite variables show good reliability. There is a strong statistical 

relationship between the composite variables and the criteria variable with zero-order correlations ranging 

from .33 to .59. 

Key Drivers of Overall Satisfaction

0.59** (1834)

0.59** (7643)

0.58** (7327)

0.59** (6599)

0.54** (7486)

Overall satisfaction with the 

TSP...

(Question 32)

0.37** (1802) 0.43** (1757)

Satisfaction with 

TSP Thrift

Question 8

Removed from analysis because 

the item is part of the scale 0.36** (7515)

Satisfaction with Information 

(a = 88)

Question 31 Composite

0.44** (7284) 0.46** (7019)

Satisfaction with Features 

(a = .83)

Question 10 Composite

0.34** (6557) 0.52** (6388)

Satisfaction with Website 

(a = .94)

Question 9 Composite

0.33** (7437) 0.44** (7161) Ease of Use (a = .81)

Question 7 Composite

The information available 

about the TSP helps me 

make decision about my TSP 

account. 

(Question 31_2)

Based on what you know or 

have heard, compared with 

other employers’ retirement 

savings plan (e.g., 401(k)), the 

TSP is...

(Question 11)

Correlation Matrix of Predictors and Criteria Variables

0.59** (1834)

0.59** (7643)

0.58** (7327)

0.59** (6599)

0.54** (7486)

Overall satisfaction with the 

TSP...

(Question 32)

0.37** (1802) 0.43** (1757)

Satisfaction with 

TSP Thrift

Question 8

Removed from analysis because 

the item is part of the scale 0.36** (7515)

Satisfaction with Information 

(a = 88)

Question 31 Composite

0.44** (7284) 0.46** (7019)

Satisfaction with Features 

(a = .83)

Question 10 Composite

0.34** (6557) 0.52** (6388)

Satisfaction with Website 

(a = .94)

Question 9 Composite

0.33** (7437) 0.44** (7161) Ease of Use (a = .81)

Question 7 Composite

The information available 

about the TSP helps me 

make decision about my TSP 

account. 

(Question 31_2)

Based on what you know or 

have heard, compared with 

other employers’ retirement 

savings plan (e.g., 401(k)), the 

TSP is...

(Question 11)

Correlation Matrix of Predictors and Criteria Variables

Note: Sample sizes are presented in parantheses; ** represents statistical significance at the p < .01 level