FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

2023 Participant

Satisfaction Survey
2

Contents

Introduction........................................................................................................................................................ 3

Methodology Summary...................................................................................................................................... 4

Participant Satisfaction ...................................................................................................................................... 5

Participant Perceptions.................................................................................................................................... 12

Potential Features and Participant Suggestions .............................................................................................. 23

Participant Profiles........................................................................................................................................... 28

Conclusions..................................................................................................................................................... 31

APPENDIX A: Methodology............................................................................................................................. 32

APPENDIX B: 2023 Active Participants Survey ............................................................................................... 37

APPENDIX C: 2023 Separated Participants Survey ........................................................................................ 45

APPENDIX D: Potential Features and Participant Suggestions – New Question Wording .............................. 53
3

Introduction

The Federal Retirement Thrift Investment Board (FRTIB), created by the Federal Employees' 

Retirement System Act of 1986 (FERSA), administers the Thrift Savings Plan (TSP), a defined 

contribution plan, similar to private sector 401(k) plans. The TSP provides Federal civilian employees 

and members of the Uniformed Services the opportunity to save for additional retirement security. 

As of April 2023, the TSP, with over 6 million participants with approximately $790 billion in assets,

is the largest defined contribution plan in the world.

The FRTIB's mission is to administer the TSP in the best interest of participants and beneficiaries.

To meet its mission, it is important that the FRTIB has a clear understanding of participant 

satisfaction, expectations, perceptions of service, behaviors, and preferences. The FRTIB selected 

Gallup to administer the 2023, 2022, 2021, 2020 and 2017 Participant Satisfaction surveys to build 

upon the participant surveys from 2006-2013, and the 2020 Participant Behavior and Demographics 

Report.

Participants within the TSP fall under one of the four distinct Federal retirement systems. The TSP

has nearly 4.44 million Active1 participants. Of those, approximately 2.73 million are covered under 

the Federal Employees Retirement System (FERS), 37,000 are covered under the Civil Service 

Retirement System (CSRS), and 710,700 are Uniformed Services Legacy (US-Legacy) participants. 

CSRS and US-Legacy participants do not receive matching contributions. In 2018, DOD implemented 

a new retirement system for Uniformed Service members known as the "Blended Retirement System" 

(BRS), where new service members are auto-enrolled into the plan and existing members with 12 or 

fewer years of service had the option of joining the plan. Both auto-enrolled and those opting into the 

BRS system receive matching contributions. Approximately 967,000 TSP participants are covered 

under the BRS.

Throughout the report, results are shown by retirement system subgroups — FERS, Uniformed 

Services (US-Legacy) and Blended Retirement System (BRS).2

The 2023 survey focused on satisfaction with the features of the plan, and also gauged selected 

participant desires and behaviors. FRTIB will use the 2023 results as a tool to assist in understanding 

the behaviors and perceptions of TSP participants to aid strategic planning and focus educational and 

communication materials, as well as in the consideration of new plan features. The 2023 survey was 

administered after the plan transitioned to a new service provider which altered the appearance of 

online account information. The transition to a new service provider may have impacted satisfaction 

scores for the 2023 survey.

1 Active participants are defined here as those who have a TSP account and are able to make contributions. Active participants do not include separated 

or beneficiary accounts.

2 Starting in 2020 and continuing in 2021, CSRS system participants were not included in the survey since they are a small and rapidly declining 

population within the TSP. CSRS participants represent less than 5% of all TSP participants. 
4

Methodology Summary

In March 2023, Gallup sent a hardcopy of the eight-page survey as well as, for those participants with 

email addresses, a URL to the online survey. Participants were sent several reminders and allowed 

to respond to the survey through mid-May 2023.

When responses with unusable results were excluded, the final sample size was 4,092, for a 

response rate of 12%. Please refer to the Data Collection Section in Appendix A for additional 

information about how usable cases were defined.

The total sample was allocated optimally across different strata to ensure an adequate sample size 

for different groups and subgroups of interest to FRTIB. 

Retirement system Total sample size Number of 

completed surveys Response rate

Total 34,031 4,092 12%

FERS 20,689 3,366 16%

US-Legacy 7,994 614 8%

BRS 5,348 112 2%

Throughout this report, references of a subgroup (e.g., system) being higher or lower than another 

group are noted only if the difference is statistically significant. See the full methodology report 

included in Appendix A for more detail.
5

Participant Satisfaction

Eighty-two percent of TSP participants were satisfied (56%) or extremely 

satisfied (25%) with the TSP overall

Overall, 82% of participants were satisfied with the TSP. The current TSP satisfaction level is on par

with the most recent Employee Benefit Research Institute (EBRI) retirement confidence survey, 

which reported 82% of U.S. workers are satisfied with their current retirement plan.

3 Although overall 

satisfaction has declined by five percentage points since 2022, TSP satisfaction levels have 

compared favorably to other U.S. workers’ satisfaction with their retirement plans as measured by the 

EBRI survey over the past three years.

F I G U R E 1 .

Note: Percentage extremely satisfied plus percentage satisfied may not sum to net totals due to rounding.

Satisfaction among US-Legacy participants remained steady, BRS and FERS

satisfaction declined

Satisfaction among US-Legacy (84%) remained steady from 2021, while satisfaction among BRS 

participants (70%) and FERS participants (85%) saw a significant decline from 2022. Like previous 

years, both BRS and US-Legacy remained below FERS satisfaction. The overall TSP satisfaction 

level of 82% among Active participants was a decrease from the 85% measured in 2022, while the 

82% satisfaction among Separated participants in 2032 was a decrease from the 92% measured 

in 2022. 

3 https://www.ebri.org/retirement/retirement-confidence-survey

89%

87%

82%

86%

84%

82% 82%

83%

2021 2022 2023 Avg. 3-Yr. Net Satisfaction

Overall Satisfaction: TSP vs. EBRI Survey Benchmark

TSP EBRI
6

F I G U R E 2 . 

TSP satisfaction continued to move in correlation with key national economic and investment 

confidence benchmarks. 

F I G U R E 3 .

Correlation of Overall Satisfaction to Third-Party Metrics

Pearson R Correlation Investor & Retirement 

Optimism Index

Consumer Economic 

Confidence Index

Dow Jones 

Industrial Average

Overall satisfaction with TSP 0.52 0.77 0.19

85% 81% 86% 87% 89% 87% 89% 87% 82%

-150

-100

-50

0

50

100

150

76%

78%

80%

82%

84%

86%

88%

90%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Index Value

% Net Satisfied

Satisfaction With TSP Tracks National 

Economic and Investment Confidence

Satisfied or extremely

satisfied with the TSP overall

Wells Fargo/Gallup Investor

and Retirement Optimism Index

(May of each year)

Gallup Consumer

Economic Confidence

(April of each year)

Dow Jones

(March of each year)

35% Extremely Satisfied

35% Extremely Satisfied

31% Extremely Satisfied

34% Extremely Satisfied

39% Extremely Satisfied

89% 91% 88% 84%

90% 87% 86% 90%

77%

84% 85%

92%

82% 85%

70%

84% 82% 82%

Satisfied + Extremely satisfied

Total FERS BRS US-Legacy Active Separated

How satisfied are you with the TSP overall?

2021 2022 2023
7

Satisfaction with plan information on TSP website was the top driver of 

overall satisfaction

Drivers of overall satisfaction were determined by evaluating how many times more likely a participant 

is to be satisfied if they are extremely satisfied with a particular aspect of the TSP. For example, if a 

participant was extremely satisfied with the plan information on the TSP website — then they were 

8.6 times more likely to be extremely satisfied with the TSP overall than those who weren’t extremely 

satisfied with the plan information on the TSP website. The ratios shown here are barometers that 

indicate which aspects are having the biggest impact on overall satisfaction. For the total sample, 

the top five drivers of overall satisfaction were:

1. Overall satisfaction with plan information on the TSP website

2. Satisfaction of timeliness of rolled over/transferred balances out of TSP

3. Satisfaction of timeliness of rolled over/transferred balances into TSP

4. Overall satisfaction with annual account statement

5. Overall satisfaction with security of account on tsp.gov

T A B L E 1 : D R I V E R S O F O V E R A L L S A T I S F A C T I O N

Aspect of TSP

How many times more likely to be 

extremely satisfied overall if 

extremely satisfied with aspect

% Extremely 

satisfied when

aspect is rated 

highest

% Extremely 

satisfied when 

aspect is NOT

rated highest

Overall Satisfaction With Plan 

Info on TSP Website (tsp.gov) 8.6x 81 9

Timeliness of Rolled 

Over/Transferred Balances 

Out of TSP

8.2x 72 9

Timeliness of Rolled 

Over/Transferred Balances 

Into TSP

8.1x 70 9

Overall Satisfaction With Annual 

Account Statement 7.9x 66 8

Overall Satisfaction With 

Security of Account on tsp.gov 7.4x 60 8

Overall Satisfaction With 

Flexibility of Withdrawal Options 7.4x 77 10

Overall Satisfaction With 

Timeliness of Withdrawal 7.3x 65 9

Overall Usefulness of Interaction: 

My Account Access on tsp.gov 7.1x 44 6

Overall Usefulness of Interaction: 

ThriftLine Automated System 7.0x 63 9

Overall Satisfaction With Access 

to My Account 6.9x 68 10

Note: Gray shading represents a top five driver of satisfaction, blue represents the top 10 drivers.
8

This year’s analysis of survey results included an examination of satisfaction among specific 

demographic groups. Satisfaction by career stage shows that satisfaction with the TSP gradually 

increases as participants move toward retirement. 

F I G U R E 4 .

Retired

Late Career (50+)

Mid-Career (35 to 49)

Early Career

Auto-enrolled participants were less satisfied overall with the TSP than were

those who were not part of the auto-enroll program

Overall, satisfaction levels of opt-in FERS participants remained higher than those who were autoenrolled.4 Specifically, FERS participants who were not auto-enrolled reported higher satisfaction with 

the TSP (88%) compared to auto-enrolled FERS (81%). BRS auto-enrolled and opt-in participants 

showed wide gaps in satisfaction, with opt-ins being significantly more satisfied. This result is not 

surprising as those who made the decision to elect or opt-in to the TSP did so with the understanding 

of the benefits of the plan.

F I G U R E 5 .

FERS BRS US-Legacy

n= (907) (2,459) (35*) (53) (24*) (614)

Note: *Small sample size for BRS; interpret results with caution.

4 All FERS and BRS employees are currently automatically enrolled in the TSP with a 5% contribution rate.

81%

88%

63%

81%

87% 84%

Satisfied + Extremely 

satisfied

How satisfied are you with the TSP overall?

Auto-enrolled Not auto-enrolled BRS opt-in with prior TSP account BRS opt-in without prior TSP account

75%

78%

86%

86%

Total Satisfied
9

Participant satisfaction with aspects of TSP

Overall, participants continued to report the highest satisfaction with the security of their account on 

tsp.gov (87%) and the annual account statement (85%). Satisfaction with several aspects of TSP 

have meaningfully decreased since 2022, but the ability to take a loan from TSP account (among 

Active participants only) has slightly increased from 62% to 63% and the ability to transfer money 

from other retirement plans increased from 56% to 58%. The aspects of TSP with the highest 

decreases in satisfaction since 2022 have been plan information on TSP website (81%to 74%), 

access to My Account (78% to 73%) and flexibility of withdrawal options (61% to 57%). 

F I G U R E 6 .

How satisfied are you with each of the following?

Net Satisfied

(Satisfied + Extremely

satisfied)

Net 2021 2022 2023

Thrift Savings Plan Overall 82% 89% 87% 82%↓

Investments/Withdrawals

Security of your account on tsp.gov** 87% 89% 89% 87%↓

Variety of investment options 73% 77% 76% 73%↓

Ability to take a loan from TSP account 

(Active only) 63% 74% 62%↓ 63%

Flexibility of withdrawal options 57% 67% 61%↓ 57%↓

Ability to transfer money FROM other 

retirement plans 58% 61% 56%↓ 58%

Ability to transfer money TO other 

retirement plans** 52% 56% 53% 52%

Communication

Annual account statement** 85% 88% 88% 85%↓

Plan information on TSP website (tsp.gov)** 74% 82% 81% 74%↓

Access to My Account 73% 78% 78% 73%↓

Note: ↑↓ indicate significant increase/decrease from prior year; percentage extremely satisfied plus percentage satisfied may not sum to net totals due to 

rounding.

**Indicate top drivers of satisfaction.

56%

53%

49%

38%

36%

38%

34%

56%

52%

46%

25%

34%

24%

25%

20%

20%

17%

29%

22%

27%

Satisfied Extremely satisfied
10

FERS participants continued to be generally more satisfied with the

TSP offerings

Although FERS participants continued to display higher satisfaction compared to their peers in other 

systems, there were several aspects where satisfaction meaningfully dropped from 2022. Specifically, 

FERS participants reported lower satisfaction with the security of their account on tsp.gov, the variety 

of offered investments, the flexibility of withdrawal options, the annual account statement, access to 

My Account and plan information on the TSP website (tsp.gov). Satisfaction with two TSP offerings 

has increased since 2022: ability to take a loan from TSP account and ability to transfer money from

other retirement plans. 

When comparing the satisfaction of TSP aspects by retirement system, BRS participants continued to 

be less satisfied with many offerings than participants in other groups. Specifically, these participants 

reported lower satisfaction than their counterparts regarding flexibility of withdrawal options, annual 

account statement, access to My Account and plan information on TSP website (tsp.gov). 

Satisfaction has increased or remained constant since 2022 with many TSP offerings for US-Legacy 

participants. Specifically, satisfaction has increased for variety of offered investments, ability to take a 

loan from TSP account, flexibility of withdrawal options, ability to transfer money from other retirement 

plans, ability to transfer money to other retirement plans, access to My Account and plan information 

on the TSP website (tsp.gov). 

F I G U R E 7 .

Considering all aspects of your experience, how satisfied are you with each of the following?

(Among participants who have used each)

Satisfied + Extremely satisfied FRTIB 

OVERALL FERS BRS US-Legacy

The Thrift Savings Plan Overall 82%

(n=4,092)

85%

(n=3,366)

70%

(n=112)

84%

(n=614)

Security of your account on tsp.gov 87% 86% 87% 89%

Variety of offered investments 73% 74% 67% 73%

Ability to take a loan from TSP account 

(Among Active participants) 63% 71% 45% 51%

Flexibility of withdrawal options 57% 66% 28% 56%

Ability to transfer money from IRA/other eligible 

retirement plan into the TSP 58% 57% 61% 55%

Ability to transfer money out of the TSP into IRA/other 

eligible retirement plan 52% 54% 48% 50%

Annual account statement 85% 86% 74% 89%

Access to My Account 73% 75% 61% 74%

TSP website (tsp.gov) 74% 76% 65% 78%

Note: Shading denotes lower ratings relative to other groups.
11

Active and Separated participant satisfaction diverged in many aspects in 2023

The gap in satisfaction in the TSP plan overall between Active and Separated participants 

disappeared between 2022 and 2023, with 82% of both groups reporting being satisfied. Satisfaction 

among Active participants decreased from 85% overall to 82%, and satisfaction among Separated 

participants decreased from 92% to 82%. 

Separated participants were more satisfied than Active participants on the variety of offered 

investments (75% vs. 71%), the plan information on TSP website (78% vs. 72%) and access 

to My Account (75% vs. 71%), whereas Active participants were more satisfied than Separated 

participants with the ability to transfer money from other retirement plans (63% vs. 49%) and ability 

to transfer money to other retirement plans (55% vs. 46%). 

F I G U R E 8 .

Considering all aspects of your experience, how satisfied are you with each of the following?

Satisfied + Extremely satisfied

(n) 2023

Active

(n=1,999)

Separated

(n=2,093)

Overall The Thrift Savings Plan Overall 4,052 82%↓ 82% 82% Investments/ Plan Features

Security of your account on tsp.gov** 3,892 87%↓ 86% 88%

Variety of offered investments 3,857 73%↓ 71% 75%

Ability to take a loan from TSP account (among Active 

participants) 1,321 63% 63% N/A

Flexibility of withdrawal options 2,999 57%↓ 56% 59%

Ability to transfer money from IRA/other eligible 

retirement plan into TSP 2,048 58% 63% 49%

Ability to transfer money out of the TSP into IRA/other 

eligible retirement plans 1,920 52% 55% 46%

Communication

Annual account statement** 4,022 85%↓ 84% 85%

Plan information on TSP website (tsp.gov)** 3,904 74%↓ 72% 78%

Access to My Account 4,013 73%↓ 71% 75%

Note: ↑↓ indicate significant increase/decrease from 2022; shading denotes higher-rated items relative to other groups.

**Indicate top drivers of satisfaction.
12

Participant Perceptions

Contributions

Over eight in 10 participants contributed 5% of basic pay to the TSP

Eighty-six percent of Active participants reported they are contributing at least 5% of their basic pay to 

the TSP. Of those who contribute 5%, 60% were satisfied with the TSP overall and 22% were

extremely satisfied. Eight percent reported not contributing 5% of their pay. Of those who are not 

contributing 5% of their basic pay, 73% were satisfied and 21% were extremely satisfied. Five percent

of Active participants don’t know if they are contributing 5% of their basic pay. Of those who don’t 

know if they are contributing 5%, 38% were satisfied, but only 12% were extremely satisfied.

FERS participants were the most likely to contribute 5% of their basic pay (91%), followed by BRS

(90%) and US-Legacy (62%). Nearly one-third (31%) of US-Legacy participants reported not 

contributing 5%. By comparison, only 5% of FERS and 2% of BRS participants do not contribute 5% 

of basic pay to the TSP.

F I G U R E 9 .

Are you contributing 5% of your basic pay?*

(Among Active participants)

FERS

(n=3,366)

US-Legacy

(n=614)

BRS

(n=112)

Yes 91% 62% 90%

No 5% 31% 2%

Don’t know 4% 7% 8%

*Contribution amounts were self-reported.

5%

8%

86%

Yes

No

Don't know
13

F I G U R E . 1 0

Are you contributing 5% of your basic pay?*

(Among Active participants)

How satisfied are you with the TSP overall?

By self-reported contribution amount

(Among Active participants)

Note: Percentages in the chart may not sum to totals in the paragraphs above due to rounding.

*Contribution amounts are self-reported.

Affordability and ineligibility were the top reasons for contributing less 

than 5% of basic pay 

Similar to previous years, participants cited affordability (42%) as a primary reason for contributing 

less than 5% of basic pay. It is the top reason for both FERS and BRS participants. An additional top

reason for BRS participants was that they use other investments outside the TSP. The top reason for 

US-Legacy participants was using other investments outside the TSP. For Early and Late Career 

participants, the top reason for not saving 5% was not being able to afford to save that much. For 

Mid-Career participants, the top reason was not knowing that their agency contributing a matching 

5% if they contribute 5%. 

Other reasons participants contributed less than 5% were, not knowing the agency contributed a 

matching 5% (at 23%), never changed from when originally enrolled (at 20%) and use other 

investments outside the TSP (at 18%). 

5%

8%

86%

38%

73%

60%

12%

21%

22%

Don't know

No, do not

contribute 5%

Yes, contribute 5%Yes,

Contribute 5%

No,

Do not contribute 5%

Don’t know

(■, ■, ■) = % Extremely satisfied (■, ■, ■) = % Satisfied

Yes

No

Don’t know
14

F I G U R E 1 1 .

Please explain why you are currently contributing less than 5% of your basic pay.

Currently cannot afford to 

save that much

Didn’t know agency 

contributed a matching 5% 

Never changed from when 

originally enrolled

Use other investments 

outside the TSP

Other

Process to change 

contributions is too difficult

Don’t need that much to 

meet retirement goals

Note: Percentages shown when greater than 4%. Process to change contributions is too difficult 2022 = 0%.

Difficulty in Setting Up New Login

F I G U R E 1 2 .

Very Easy

Easy

Neither Easy nor Difficult

Difficult

Very Difficult

Note: Percentages shown when greater than 4%.

In June 2022, FRTIB transitioned to a new record keeper and participants were 

asked to set up a new login during this time

Overall, participants did not find the process of setting up a new login to be overly difficult, as only 

one in 10 rated the experience as either difficult (8%) or very difficult (2%). Nearly seven in 10 of 

those who set up a new login described the process as easy (40%) or very easy (29%).

5%

24%

17%

8%

29%

16%

18%

20%

23%

42%

2023 2022

8%

20%

40%

29%
15

Usefulness of Communications Channels

Annual statements, My Account access and general plan information on tsp.gov 

continued to be the most used and useful among participants

Participants continued to find annual statements (94%), general plan information on tsp.gov (91%) 

and account access on tsp.gov (93%) as the most useful communication channels provided by the 

TSP. Informational emails (88%) were also useful for approximately nine in 10 participants. The 

biggest change from 2022-2023 was for ThriftLine to speak to a live representative, which had a 

decrease in usefulness by eight points (87% in 2022 to 79% in 2023). 

At a retirement system level, BRS participants were less likely to find ThriftLine automated system

and live representative and booklets and brochures useful compared to FERS and US-Legacy

participants. Separated participants were more likely to find the booklets/brochures and their account 

access on tsp.gov more useful compared to Active participants. Early Career participants found the 

ThriftLine automated system and live representative less useful than participants in other career 

stages. Late Career and Retired participants found the booklets/brochures more useful than 

participants in other career stages.

F I G U R E 1 3 .

Considering each of the following ways you have heard from or interacted with the TSP 

in the past 6 months, rate the overall usefulness of each: Net Useful

Used 2023 2022

Annual statement** 86% 94%↓ 98%

My Account 

access on tsp.gov 79% 93% 94%

General plan information 

on tsp.gov** 73% 91%↓ 95%

ThriftLine to speak live to 

a representative 28% 79%↓ 87%

Informational emails 

from the TSP 64% 88% 89%

TSP booklets/brochures 61% 80%↓ 85%

ThriftLine to access

automated telephone system 24% 73%↓ 76%↓

Note: ↑↓ indicate significant increase/decrease from prior year; percentages shown when greater than 4%.

**Indicate top drivers of satisfaction.

10%

9%

16%

17%

9%

12%

7%

5%

5%

40%

50%

57%

36%

49%

37%

41%

33%

30%

32%

43%

42%

56%

53%

Not at all useful Not very useful Somewhat useful Extremely useful
16

ThriftLine

Over one-quarter of participants used the ThriftLine to speak to a live 

representative

Participants’ reported usage of the ThriftLine automated and live representative resources has decreased 

since 2022. Twenty-four percent of participants reported using the ThriftLine automated system in 2023, as 

compared to 30% in 2022. Twenty-eight percent of participants reported speaking with a ThriftLine live 

representative, as compared to 33% in 2022. Similarly, net usefulness has decreased since 2022 for both 

offerings. Usefulness for the ThriftLine automated system has dropped from 76% in 2022 to 73% in 2023. 

Speaking to a live representative has had a more severe decrease in usefulness, from 87% in 2022 to 79% in 

2023. 

FERS and US-Legacy found both ThriftLine offerings more useful than did BRS participants. Seventy-eight 

percent of FERS and 73% of US-Legacy found the automated system useful, compared to 60% of BRS 

participants. Eighty-three percent of both FERS and US-Legacy participants found the live representative 

useful, as compared to 60% of BRS participants.

F I G U R E 1 4 .

If you have used [service] in the past 6 months, rate the overall usefulness of each:

Used Extremely 

Useful 2022 2023 2022 2021

ThriftLine to access 

automated system 

(Among 24% who 

used, n=956)

24% 30% 30% 38%

ThriftLine to speak 

live to a

representative 

(Among 28% who 

used, n=1,245)

28% 33% 31% 54%

10%

9%

16%

12%

40%

36%

33%

43%

Not at all useful Not very useful Somewhat useful Extremely useful
17

13%

5%

5%

15%

7%

5%

5%

8%

9%

10%

10%

25%

30%

26%

18%

45%

50%

55%

56%

Extremely dissatisfied Dissatisfied Neither satisfied nor dissatisfied Satisfied Extremely satisfied

Live ThriftLine three-month use and satisfaction

Similar to previous years, participants were asked about recent (in the past three months) use of the 

ThriftLine to speak to a live representative. Eleven percent of participants reported having called and 

spoken to a live representative on the ThriftLine in the past three months, the same as in 2022.

The call rate for Active participants was 7%, while the call rate for Separated participants was 16%.

In 2022, 90% of participants were satisfied with the representative’s ability to answer their questions 

or address their needs, but in 2023, this percentage fell to 74%. 

Only 6% of participants said they have alerted TSP about a problem or issue in the past three 

months. This reporting rate was higher for Separated participants (10%) than Active participants

(4%). The reporting rate was also slightly higher for US-Legacy (10%) than FERS (6%), which was 

slightly higher than BRS (4%). In 2022, 72% of participants were satisfied with the amount of time it 

took to resolve the issue, but in 2023, this percentage dropped to 41%. However, these scores varied

greatly between groups, as BRS participants (94%) were much more satisfied with the amount of time 

it took to resolve the issue than FERS (37%) or US-Legacy (31%) participants.

F I G U R E 1 5 .

If you called the ThriftLine in the past three (3) months and spoke to a Participant 

Service Representative, please indicate your satisfaction with the following:

(n=584)

Net Satisfaction

(Satisfied + 

Extremely sat.)

Representative’s ability 

to answer your questions 

or address your needs

74%

Hours that a 

representative is 

available

81%

Days of the week that a 

representative is 

available

80%

Amount of time you had 

to wait to speak to a 

representative

70%

Percentages shown when greater than 4%.
18

Annual Statement

A majority of participants read their annual statement, and 90% were satisfied 

(38%) or extremely satisfied (51%) with the information provided

Overall, 78% of TSP participants reported that they have read their annual statement — a five-point 

decrease from 2022. Early career participants were the least likely group to have read their TSP 

statement (61%), which increased through career stages. Retired participants were the most likely 

to have read their TSP annual statement (86%).

Approximately half of the participants who have read their annual statement reported being extremely 

satisfied with all aspects of the information provided. These included the usefulness of information in 

the statement (51%), the ability to track how TSP investments perform over time (53%), the 

usefulness of estimated monthly retirement income (48%) and the ability to see how other investment 

options within the plan are performing (46%). Overall net satisfaction with the information in the 

annual statement was a bit lower relative to 2022 (92% in 2022 vs. 90% in 2023).

F I G U R E 1 6 .

How satisfied are you with each of the following on your annual statement?

(Among 78% of respondents who have read their annual statement)

Somewhat + Extremely 

satisfied

2023 2022

Usefulness of information in 

annual statement

(84% used, n=3,444)

90% 92%

Ability to track how TSP 

investments have

performed over time 

(82% used, n=3,365)

87% 88%

Usefulness of your

estimated monthly retirement 

income on statement 

(74% used, n=2,973)

80% 85%

Ability to see how other 

investment options within the 

plan are performing

(73% used, n=3,044)

82% 82%

Note: Percentages shown when greater than 4%.

12%

15%

6%

7%

36%

32%

34%

38%

46%

48%

53%

51%

Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied

Somewhat satisfied Extremely satisfied
19

My Account

A majority of participants are satisfied with all aspects of My Account

Three-quarters or more of participants were satisfied with all aspects of their My Account. Participants 

were most satisfied with the ability to track and manage their TSP investments, with 83% net 

satisfaction and 45% extremely satisfied. Active participants were much more satisfied with the ease 

of signing and submitting forms than Separated participants (78% satisfaction for Active participants 

vs. 69% satisfaction for Separated participants). Early Career and Mid-Career participants were also 

more satisfied with this offering at 76% satisfaction and 80% satisfaction, respectively, than their Late 

Career and Retired peers at 72% and 70% satisfaction. 

FERS participants were less satisfied with the ease of navigating the site at 72% satisfaction than 

US-Legacy participants at 79% satisfaction and BRS participants at 83% satisfaction. US-Legacy 

participants were more satisfied with the aspects of ease of understanding information (US-Legacy 

satisfaction at 85%, BRS satisfaction at 79% and FERS satisfaction at 78%) and the ease of making 

account transactions (US-Legacy satisfaction at 81%, FERS and BRS satisfaction at 75% each).

F I G U R E 1 7 .

Satisfaction with the following aspects of My Account

(Of those who have logged on to their My Account on TSP.gov since completing the one-time process to 

set up their new login)

Somewhat + Extremely 

satisfied

Ease of signing and

submitting forms 75%

Ease of making/initiating

account transactions 76%

Ease of understanding

within the site 80%

Ease of navigating

within the site 75%

Ease at finding

information of interest 75%

Track and manage

TSP investments 83%

Percentages shown when greater than 4%.

6%

6%

5%

5%

7%

8%

5%

6%

5%

8%

12%

10%

12%

14%

15%

38%

41%

41%

42%

40%

38%

45%

34%

34%

37%

37%

36%

Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied

Somewhat satisfied Extremely satisfied
20

TSP Mobile App

A majority of participants are satisfied with all aspects of the TSP Mobile App

The most popular aspects of the TSP Mobile App included the ease of logging in to the mobile app 

(at 78% satisfaction), the ability to track and manage TSP investments (at 76% satisfaction) and 

the ease of understanding information provided (at 75% satisfaction). Compared to Active 

participants, Separated participants were much more satisfied with their ability to track and manage 

TSP investments (81% satisfaction for Separated vs. 74% for Active), find information of interest 

(73% satisfaction for Separated vs. 65% for Active) and understand information provided 

(81% satisfaction for Separated vs. 73% for Active). Early Career participants were less satisfied than

the other career stages at all aspects of the TSP Mobile App.

F I G U R E 1 8 .

Satisfaction with the following aspects of TSP Mobile App

(Of those who have used the TSP mobile app in the past 3 months)

Somewhat + Extremely 

satisfied

Ease of logging in to

the mobile app 78%

Ease of signing and

submitting forms 69%

Ease of making/initiating 

account transactions 69%

Ease of understanding

within the mobile app 75%

Ease of navigating

within the mobile app 68%

Ease at finding

information of interest 67%

Track and manage

TSP investments 76%

TSP Transaction Timeliness

A majority of TSP participants were extremely satisfied with transaction 

timeliness 

8%

8%

9%

5%

7%

7%

6%

7%

12%

12%

7%

13%

9%

6%

8%

13%

10%

13%

11%

15%

11%

32%

32%

30%

36%

31%

31%

29%

44%

35%

38%

40%

39%

38%

49%

Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied

Somewhat satisfied Extremely satisfied
21

A majority of TSP participants were extremely satisfied with the timeliness of taking out loans (55%) 

and taking a withdrawal (55%) in the past six months. However, the percentage of participants who 

were extremely satisfied with the timeliness of taking loans dropped six points from 61% in 2022 to 

55% in 2023. The percentage of Active participants who were extremely satisfied with taking out a 

withdrawal increased by 10 points from 45% in 2022 to 55% in 2023. The majority of Separated

participants were extremely satisfied with changing current investments (52%), which was a slight 

decrease from the 56% of Separated participants who were extremely satisfied in 2022. In contrast, 

the percentage of Separated participants who were extremely satisfied with the timeliness of 

changing their current investments dropped by 16 points from 61% in 2022 to 45% in 2023. Similarly, 

the percentage of Active participants who were extremely satisfied with the timeliness in changing the 

investment allocation of future contributions dropped by 10 points from 58% in 2022 to 48% in 2023.

F I G U R E 1 9 .

If done within the last 6 months, please rate your overall satisfaction 

with the time it took to complete the following transactions:

Completed

2022

Extremely

Satisfied

Took out loan 

(Active participants)

21% 61%

Changed the investment mix of 

my future contributions 36% 58%

Changed investment mix of my 

current account balance (Active 

participants)

37% 61%

Changed investment mix of my 

current account balance

(Separated participants)

29% 56%

Took a withdrawal 21% 45%↓

Made account updates 

(e.g., name change, 

beneficiaries, password, etc.)

46% 50%↓

Rolled over/transferred money 

out of the TSP into other eligible 

retirement plan accounts

9% 32%

Rolled over/transferred money 

into the TSP from other eligible 

retirement plan accounts

8% 32%

Note: Percentages shown when greater than 4%.

12%

11%

7%

6%

5%

6%

5%

7%

6%

27%

26%

11%

11%

12%

12%

12%

13%

20%

21%

30%

23%

28%

32%

31%

26%

37%

36%

46%

55%

52%

45%

48%

55%

Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied

Somewhat satisfied Extremely satisfied
22

TSP Satisfaction Since New Service Provider

F I G U R E 2 0 .

Extremely Satisfied

Satisfied

Neither Satisfied nor Dissatisfied

Dissatisfied

Extremely Dissatisfied

Note: Percentages shown when greater than 4%.

Half of participants were satisfied with TSP since the transition

Overall, very few participants rated themselves as either dissatisfied (5%) or extremely dissatisfied 

(3%). About four in 10 participants rated themselves as neither satisfied nor dissatisfied, and half the

participants rated themselves as either satisfied (36%) or extremely satisfied (14%) since the 

transition. The majority of the participants who were aware of the transition to the new service 

provider were satisfied with the TSP since the transition, with 40% of them somewhat satisfied and 

19% of them extremely satisfied. A higher proportion of them were satisfied with the TSP overall, at 

59% somewhat satisfied and 28% extremely satisfied.

F I G U R E 2 1 .

Did you know that the TSP transitioned to a new service provider starting 

in June 2022? %Yes

Overall satisfaction with TSP overall

TSP satisfaction since new service provider

Note: Percentages shown when greater than 4%.

41%

36%

14%

5% 7% 29%

10%

40%

59%

19%

28%

Extremely dissatisfied Somewhat dissatisfied Neither satisfied nor dissatisfied Somewhat satisfied Extremely satisfied
23

Potential Features and Participant Suggestions

Participants were most likely to use a tool to estimate withdrawals to last 

through retirement and an estimate of SS/Pension/TSP benefit in one statement 

When asked how likely they would be to use various services and tools if they were to be provided in 

the future by the TSP, participants cited an estimate of SS/Pension/TSP benefit in one statement 

(82%) and a tool to estimate withdrawals to last through retirement (81%) as being the offerings they 

would most likely use.

Active participants were much more likely to say they would use all offerings than their Separated 

peers, who may have found outside sources to support their needs. BRS participants were more 

likely than FERS or US-Legacy participants to use an online financial advisory tool and download 

account information to use in other tools.

F I G U R E 2 2 .

How likely would you be to use the following if offered by the TSP?

Likely + Extremely likely Total

(n=4,092)

Active

(n=1,999)

Separated

(n=2,093)

FERS

(n=3,366)

BRS

(n=112)

USLegacy

(n=614)

Tool to estimate withdrawals to last through retirement 81% 86% 73% 82% 77% 84%

Estimate of SS/Pension/TSP benefit in one statement 82% 88% 73% 82% 79% 86%

Automatically adjust account allocation* 59% 67% 45% 58% 59% 61%

Broader range of investment options 57% 65% 44% 54% 66% 60%

Online financial advisory tool 39% 47% 25% 36% 50% 39%

Download account info to use in other tools 53% 60% 42% 48% 74% 52%

Online financial advice 45% 53% 33% 45% 45% 47%

Note: Shading denotes higher-rated items than other groups.

Understanding of an In-Plan Roth Conversion

Generally, participants who were further along in their careers were more likely to know what an inplan Roth conversion is, as 13% of Early Career participants stated that they understood an in-plan 

Roth conversion, compared to 19% of Mid-Career and Late Career participants, and 21% of Retired 

participants. Similarly, 12% of BRS participants reported that they understood an in-plan Roth 

conversion, compared to 18% of US-Legacy participants and 20% of FERS participants. The inverse 

was true for understanding the tax consequences of doing an in-plan Roth conversion, as nearly eight 

in 10 Early Career participants claimed that they understood the tax consequences, compared to 

roughly seven in 10 for Mid-Career participants and about six in 10 participants for Late Career and 

Retired participants. 
24

F I G U R E 2 3 .

Do you know what an in-plan Roth conversion is?

(By key group)

Overall

FERS

BRS

US-Legacy

Early Career (Under 35)

Mid-Career (35-49)

Late Career (50+)

Retired

F I G U R E 2 4 .

How well do you understand the tax consequences of doing an in-plan Roth conversion if

that option was made available to you?

Total

(n=4,441) FERS BRS

USLegacy

Early 

Career 

(Under 

35)

MidCareer

(35-49)

Late 

Career 

(50+) Retired

Understand it extremely well 18% 16% 16% 23% 19% 19% 18% 16%

Understand it well 46% 42% 79% 41% 59% 52% 40% 39%

Neutral 24% 28% 5% 19% 11% 18% 27% 34%

Don’t understand it well 11% 11% 0% 14% 9% 10% 13% 9%

Don’t understand it at all 2% 2% 0% 3% 2% 1% 2% 2%

F I G U R E 2 5 .

How likely would you be to do an in-plan Roth conversion (now or in the future) if you

had the option?

Total

(n=4,441) FERS BRS

USLegacy

Early 

Career 

(Under 

35)

MidCareer

(35-49)

Late 

Career 

(50+) Retired

Extremely likely 10% 10% 4% 13% 9% 16% 6% 8%

Likely 18% 13% 38% 22% 19% 27% 17% 10%

Not very likely 30% 32% 17% 32% 24% 27% 37% 27%

Not at all likely 23% 23% 30% 18% 30% 15% 20% 30%

Don’t know/Haven’t considered it 20% 23% 11% 15% 18% 15% 21% 26%

21%

19%

19%

13%

18%

12%

20%

18%

% Yes
25

Top three reasons participants plan to transfer money from the TSP

Better/more investment choices (68%), higher investment returns elsewhere (65%), and consolidate 

retirement accounts (64%) were the top reasons participants plan to transfer money from the TSP in 

2023. 

F I G U R E 2 6 .

What reason do you plan to transfer money from your

TSP account into other eligible accounts?

(Among Active participants likely to transfer)

Consolidate retirement accounts

Better/More investment choices

Higher investment returns elsewhere

More flexible withdrawal options

Financial planning services elsewhere

Financial planning tools elsewhere

Lower fees

Better customer service 50%

44%

62%

57%

56%

65%

68%

64%
26

Nearly half of all participants don’t have other qualified retirement plans

Roughly four in 10 of TSP participants (42%) reported not having another qualified retirement plan or 

Traditional IRAs outside of the TSP. This was most prevalent among FERS (47%), followed by BRS 

and US-Legacy participants (both 35%). More than four in 10 of Active participants (44%) reported

not having another qualified plan. This was higher than the rate for Separated participants (38%). 

Participants who have an outside plan were asked the primary reason that they have not considered 

rolling their qualified plan funds into the TSP. Six percent reported that they had other plans that offer 

the types of funds in which they are interested in investing. Another 6% said they plan to roll into the 

TSP in the future. Three percent reported that other plans provide higher return than the TSP or 

better matching. Two percent reported that other plans provide easier access to funds if needed, and 

another 2% reported that the process for rolling money into the TSP is too complicated.

F I G U R E 2 7 .

Which, if any, of the following qualified 

retirement accounts do you have for 

retirement? (Select all that apply)

You indicated you have at least one qualified retirement 

account. What is the primary reason you have not considered 

rolling these qualified plan funds into the TSP? (Select one 

option)

No account or funds to transfer

Just never considered it

Don't want to keep all my retirement 

savings with one financial institution

I didn’t know I could do this

Other plans offer the types of funds in 

which I am interested in investing

Other

Not yet, plan to roll into 

the TSP in the future

Other plans provide higher return than 

the TSP/better matching

Process for rolling money 

into the TSP is too complicated

Other plans provide easier access to 

funds if needed

Other plans allow the withdrawal of 

money from specific investment funds

TSP administrative fees are higher than 

my current plan

Percentages shown when greater than 4%.

39%

34%

42%

My own

401(k)/403(b)

My own

traditional IRA

I do not have

any of these

types of

accounts

% Yes

6%

6%

6%

6%

11%

14%

45%
27

Participants desired more instructions/information to better meet their 

retirement planning needs

Participants were also asked what the TSP could do to better meet their retirement planning needs. 

This was done by means of a free text comment field. After categorizing and grouping responses of 

the 46% of participants with an opinion, 12% requested better instructions/information/tutorials from 

the TSP, while 9% requested improvements to the website/interface/make it more user-friendly. 

FERS participants most wanted improvements to the websites (11%) from the TSP to better meet 

their retirement needs, while BRS and US-Legacy participants most wanted better 

instructions/information and tutorials, at 20% and 12%, respectively.

F I G U R E 2 8 .

What ONE thing could the TSP do to better meet your retirement planning needs?

(Among 46% with comment, n=1,876)

FERS

(n=3,366)

BRS

(n=112)

USLegacy

(n=614)

Better instructions/information/tutorials 10% 20% 12%

Improve website/interface/make it more 

user-friendly 11% 3% 7%

More investment options 7% 6% 6%

Provide investment advice/retirement 7% 6% 8%

More transaction 

availability/transfers/deposits/withdrawals 4% 2% 7%

Easier access/log-in/CAC 

capability/easier password re-set 4% 2% 7%

Have more tools/calculators/prediction 

capabilities 4% 0% 2%

Be able to participate after retirement 1% 13% 3%

Other 3% 0% 2%

Better/easier rollover capabilities 1% 5% 1%

Issues with company/federal processes 2% 1% 1%

Issues with fees/costs/need more 1% 1% 2%

Percentages shown when greater than 4%.

Appendix D summarizes the changes to the survey questions from 2022 to 2023 as it relates to 

potential features and participant suggestions.

12%

9%

7%

7%

5%

5%
28

Participant Profiles

Participant profiles were created based on overall satisfaction, level of contribution, use of other plans 

and rollover habits. Included below are the findings for profiles by retirement system, career stage and 

participant status. 

T A B L E 2 : P A R T I C I P A N T P R O F I L E B Y R E T I R E M E N T S Y S T E M

FERS BRS US-LEGACY

Extremely satisfied/Satisfied 30%/55% (85% total) 10%/59% (70% total) 26%/58% (84% total)

No. 1 key driver of 

overall satisfaction TSP website (tsp.gov)

Ability to transfer money from 

IRA/other eligible retirement 

plans into the TSP

Took withdrawal using online 

form wizard

Percentage saving 

5% or more* 91% 90% 62%

No. 1 reason for 

not saving 5% 

Currently cannot afford to 

save that much

Currently cannot afford to 

save that much/Use other 

investments outside the TSP

Use other investments 

outside the TSP

% With other qualified plan 54% 65% 65%

No. 1 reason for not rolling-in No account or funds to 

transfer

No account or funds to 

transfer

No account or funds to 

transfer

*Percentage does not include those who respond “Don’t know” to this question

FERS participants were the most satisfied group and the most likely to be saving at least 5%. The 

number one reason for FERS participants who don’t save 5% was that they currently cannot afford to 

save that much.

BRS and US-Legacy lagged behind in terms of satisfaction. The key driver of satisfaction for BRS 

participants was the ability to transfer money from IRA/other eligible retirement plans into the TSP.

BRS participants were the least satisfied retirement system overall. Over half of BRS and US-Legacy 

(65% each) participants said they have another qualified retirement plan. 
29

T A B L E 3 : P A R T I C I P A N T P R O F I L E B Y C A R E E R S T A G E

Early

(Under 35 years of age)

Mid

(35 -49 years old)

Late

(50 and older) Retired

Extremely 

satisfied/Satisfied 14%/62% (75% total) 22%/57% (78% total) 29%/57% (86% total) 37%/50% (86% total)

No. 1 key driver of 

overall satisfaction

Rolled 

over/transferred 

balances out of TSP

Changed current 

investments

Representative’s 

ability to answer your 

questions or address 

your needs

Rolled 

over/transferred 

balances out of TSP

Percentage saving 

5% or more* 94% 75% 90% NA

No. 1 reason for 

not saving 5% 

Currently cannot 

afford to save that 

much

Didn’t know my 

agency contributed a 

matching 5% if I 

contributed 5%

Currently cannot 

afford to save 

that much

NA

% With other 

qualified plan 58% 64% 56% 54%

No. 1 reason for 

not rolling-in No account or funds 

to transfer

No account or funds 

to transfer

No account or funds 

to transfer

No account or funds 

to transfer

*Percentage does not include those who respond “Don’t know” to this question

When looking across career stages, satisfaction with the TSP increased as participants progress in 

their careers, with satisfaction levels highest for Late Career and Retired participants at 86% net 

satisfied each. 

The number one driver for Early Career and Retired participants was rolled over/transfer balances 

out of TSP, whereas the number one driver for Mid-Career participants was changed current 

investments. Finally, for Late Career participants, the number one driver was a representative’s ability 

to answer your questions or address your needs. 

The prevailing reason for all Career groups for not rolling funds into the TSP was having no account 

or funds to transfer.

Over half of participants in every career group has another qualified plan and all career groups listed

having no account or funds to transfer as their number one reason for not rolling in their funds to their 

TSP account.
30

T A B L E 4 : P A R T I C I P A N T P R O F I L E B Y A C T I V E A N D S E P A R A T E D

Active Separated

Extremely satisfied/Satisfied 22%/60% (82% total) 32%/51% (82% total)

No. 1 key driver of overall satisfaction Representative’s ability to answer your 

questions or address your needs

Rolled over/transferred balances out 

of TSP

Percentage saving 5% or more* 86% NA

No. 1 reason for not saving 5% Currently cannot afford to save that much NA

% With other qualified plan 56% 62%

No. 1 reason for not rolling-in No account or funds to transfer No account or funds to transfer

*Percentage does not include those who respond “Don’t know” to this question

Starting in 2023, the gap in satisfaction between Active and Separated participants was eliminated, 

with both groups at 82% net satisfaction. The number one driver for Active participants was a 

representative’s ability to answer their questions or address their needs, whereas the number one 

driver for Separated participants was rolled over/transferred balances out of TSP. 

Over half of participants in both categories said they have another qualified plan, but the percentage 

was slightly higher for Separated participants at 62% vs. 56% for Active participants. The top reason 

for not rolling in funds to their TSP account for Active and Separated participants was not having an 

account or funds to transfer.
31

Conclusions

• TSP’s overall 82% satisfaction rate was in line with the latest measurement of American workers 

satisfied with their plans (at 82%). 

• These were the top three drivers of overall satisfaction: 

1. Overall satisfaction with plan information on TSP website (tsp.gov)

2. Timeliness of rolled over/transferred balances out of TSP

3. Timeliness of rolled over/transferred balances into TSP

• BRS participant satisfaction lagged behind other groups. BRS participants were least satisfied 

with the flexibility of withdrawal options and were less satisfied than the other two groups on 

most aspects of the Thrift Savings Plan. 

• Satisfaction increased in two aspects of the TSP plan: ability to take a loan from TSP account 

and ability to transfer money from other retirement plans.
32

Appendix A: Methodology

Sample design

Gallup employed a stratified sample design to meet the objectives of the FRTIB Participant 

Satisfaction Survey to reach a representative sample of participants from the Federal Employees 

Retirement System (FERS), Uniformed Services Legacy (US-Legacy) and Blended Retirement 

System (BRS) populations as of early 2023. The primary goal of the sample design was to increase 

the agency's understanding of participants' retirement planning behavior and satisfaction with TSP 

(Thrift Savings Plan) services. The TSP participant pool5 was used as the sampling frame. The total 

of 4,092 returned surveys (paper and online) resulted in an overall response rate of around 12%. 

The total sample was allocated optimally across different strata to ensure adequate sample size for 

different groups and subgroups of interest to FRTIB. The main steps of the sampling process follow.

Sample stratification

FRTIB set the overall sample size of 34,031 based on the expected response rate as achieved in the 

2022 survey and the goal to achieve at least 5,000 completed surveys. The sample design included 

disproportional stratified sampling across the three systems based on expected response rates of 

respondents by the level of available contact information (if an email was available), work status,

and enrollment system.

The three major TSP populations of FERS, US-Legacy and BRS are of special interest to FRTIB and 

were chosen as the primary stratification variables. Within each of these populations (primary strata), 

additional stratification was used to ensure sufficient sample sizes for different subgroups of interest, 

primarily employment status (Active/Separated) and enrollment status (auto-enroll, opt-in, pre-autoenroll). Results from the 2021 survey effort indicated that response rates were approximately three 

times higher among participants with email addresses (as these participants were more likely to have 

registered on the TSP website, and they received multiple communications points for the survey).

Thus, the substrata were further stratified by the availability of email contact information in the 

FRTIB database. The sample plan included a total of 24 strata:

5 While FRTIB still has participants in the Civil Service Retirement System (CSRS), that participant base represents a small (about 3%) and diminishing 

proportion of participants, and as such was not included in this or the 2021 survey.
33

T A B L E 5 : S T R A T A D E F I N I T I O N S

Strata Retirement system Employment status Enrollment type Email

1 BRS Active Auto-enroll Email

2 BRS Active Auto-enroll No Email

3 BRS Separated Auto-enroll Email

4 BRS Separated Auto-enroll No Email

5 BRS Active Opt-in without prior Email

6 BRS Active Opt-in without prior No Email

7 BRS Separated Opt-in without prior Email

8 BRS Separated Opt-in without prior No Email

9 BRS Active Opt-in with prior Email

10 BRS Active Opt-in with prior No Email

11 BRS Separated Opt-in with prior Email

12 BRS Separated Opt-in with prior No Email

13 FERS Active Auto-enroll Email

14 FERS Active Auto-enroll No Email

15 FERS Separated Auto-enroll Email

16 FERS Separated Auto-enroll No Email

17 FERS Active Pre-auto-enroll Email

18 FERS Active Pre-auto-enroll No Email

19 FERS Separated Pre-auto-enroll Email

20 FERS Separated Pre-auto-enroll No Email

21 US-Legacy Active Email

22 US-Legacy Active No Email

23 US-Legacy Separated Email

24 US-Legacy Separated No Email

Sample allocation

Gallup carried out sample allocation across different strata and substrata while keeping in mind the 

sample size requirements at different levels. Instead of allocating the sample proportionally across 

strata (i.e., assigning sample size based on the size of strata), Gallup determined it was necessary to 

use disproportional sample allocation across strata and sub-strata to ensure a minimum sample size 

for each stratum and sub-stratum and to achieve the highest response rate possible given known 

participant information. The expected response rates derived from past TSP surveys were considered

to determine the sample size to be assigned at different levels, with a higher sample selection of 

participants with email addresses. FRTIB sent Gallup the requested sample records for each of the 

24 strata following internal cleaning protocols (including exclusion of records with known bad 

addresses — defined as two return USPS mailers to FRTIB over the prior year.
34

T A B L E 6 : S A M P L E S I Z E A N D N U M B E R O F C O M P L E T E D S U R V E Y S B Y R E T I R E M E N T 

S Y S T E M

Retirement system Total sample size Number of 

completed surveys Response rate

Total 34,031 4,092 12%

FERS 20,689 3,366 16%

BRS 5,348 112 2%

US-Legacy 7,994 614 8%

Sample selection

Sampling was carried out independently within each sampling stratum and substratum. Once Gallup 

finalized the sample size to be allocated to a particular substratum, FRTIB staff selected a simple 

random sample of the specified size that was drawn from each sub-stratum and sent to Gallup for 

processing. The sample was pulled on February 15, 2023. The probability of selection was the same 

for all cases within a substratum. 

Data collection

The survey field period lasted from March 27 to May 18, 2023.

Data collection involved a multimode invitation (email and mail) and survey mode (web and paper)

protocol. Gallup mailed pre-notification postcards to all sampled participants on April 3, 2023, via

USPS. The postcard explained the purpose of the upcoming survey and contained the URL and 

access code to complete the survey online. On March 27, 2023, Gallup mailed a survey packet in a 

flat envelope that contained a cover letter and an eight-page color survey booklet asking participants 

to complete and return the survey back to Gallup. In addition to the mail survey packet, all 

participants with an email address (81% of sample) were also sent an email invitation with a 

personalized link to take the survey online. Gallup sent a reminder/thank-you postcard to all sampled 

participants on April 7. All mail communications included the URL and access code for completing the 

survey online if desired.

Gallup also sent six email reminders to all participants with email addresses who had not yet 

completed the survey. Those email reminders were sent on the following dates:

• Invitation Email: 3/23

• Reminder Email #1: 3/29

• Reminder Email #2: 4/5

• Reminder Email #3: 4/12

• Reminder Email #4: 4/19

• Reminder Email #5: 4/26

• Reminder Email #6: 5/3

• Reminder Email #7: 5/10

• Reminder Email #8: 5/12

• Final Reminder Email: 5/15
35

Gallup scanned received paper surveys throughout the field period, combined the information with 

completes from the web and provided weekly response rate reports to FRTIB. At the end of the 

survey field period, Gallup scanned all final paper surveys and processed the combined data. 

In cases where a respondent completed both a mail and web survey, the data from the web survey 

was retained, and the mail survey data was not included in the data set. A total of 4,149 participants 

returned a survey (web or mail) and were included in the initial data set. Fifty-seven participants either 

progressed to the end of the survey and submitted it but did not provide a response to any of the 

required questions (Q45_2, Q50A-K, Q34, Q35 q36 or q37 or Q38 or Q39 or Q41) or returned a blank 

paper survey. If these respondents are excluded, 4,092 participants provided non-missing data.

Sixty-six percent of respondents completed the survey via web and 34% via mail. The following table 

provides the number of returns by mode and by retirement system.

Weighting of sample data

Sample data were weighted to minimize bias in sample-based estimates. The final weight assigned to 

each respondent in any substratum was equal to the ratio of (i) the total number of participants in that 

substratum and (ii) the number of completed surveys obtained from that substratum. The weighting 

process corrected for (i) unequal probability of selection across substrata, and (ii) unit-level 

nonresponse or the failure to obtain participation from the sampled respondents. Using the final 

weights, the results obtained from participants within a substratum can be projected to all participants 

of that substratum. Data were weighted by the following strata:

• Retirement system

• Employment status

• Enrollment type

• Email availability

Precision of estimates

Ignoring design effect, the margin of error associated with the estimate of a population proportion (P) 

for the three retirement systems combined (n=4,092) is roughly ±0.9% at 95% level of confidence. 

The margin of error after considering design effects due to disproportional sample allocation will be 

around ±1.5%.

The precision of estimates for any subgroup will depend on the number of completed surveys 

obtained for that subgroup. As shown in Table 1, the numbers of completed surveys for the three 

populations (FERS, US-Legacy and BRS) are 3,366, 614 and 112, respectively. Ignoring design 

effect, the margin of error associated with estimates of a population proportion (P) for the three 

retirement systems, for example, will be roughly ±1.2%, ±2.1% and ±2.6%, respectively, at the 95% 

level of confidence. The corresponding values of margins of error after considering design effects due 

to disproportional sample allocation will be around ±1.8%, ±3.3% and ±4.1%, respectively, for the 

three retirement systems (FERS, US-Legacy and BRS).
36

Profile of plan participants

FRTIB employed a disproportional, stratified sample design to ensure a sufficient sample size of key 

target groups. As noted, the data were weighted post-stratification by demographics and plan 

characteristics to reflect the known population profiles of the TSP's participant groups. Thus, the 

weighted profile of respondents is an accurate depiction of TSP plan participants.

In terms of satisfaction by retirement system, FERS is the biggest, most responsive and most 

satisfied group. Of the 4,092 total respondents, 3,366 respondents were FERS participants (82% of 

total sample). In 2023, 85% of FERS participants were satisfied with the TSP overall. In 2022 FERS 

participants had a 90% satisfaction rate. 

Gallup and FRTIB oversampled from the Uniformed Services population to account for the low 

response from these groups. There were 614 (15% of the sample in 2023) completed surveys from 

US-Legacy participants. Only 112 BRS participants (3% of the sample) completed surveys. 

Predictably, FERS participants had the highest response rate (16%), while US-Legacy (8%), and 

BRS (2%) lagged in terms of response. Satisfaction among US-Legacy participants remained 

stable since 2021 at 84%, while satisfaction among BRS participants declined from 77% in 2022 

to 70% in 2023. Because of the relatively small sample size of BRS participants, please interpret 

BRS results with caution.

T A B L E 7 : T S P P A R T I C I P A N T S B Y R E T I R E M E N T S Y S T E M

Retirement system Number of completed surveys Percentage of all TSP participants

Total 4,092 100%

FERS 3,366 82%

US-Legacy 614 15%

BRS 112 3%

T A B L E 8 : T S P P A R T I C I P A N T S B Y E M P L O Y M E N T

Federal employment 

status

Number of 

completed 

surveys

Percentage of all 

TSP participants FERS US-Legacy BRS

Separated 2,093 38% 1,638 434 21

Active 1,999 62% 1,728 180 91

Total 4,092 100% 3,366 614 112
37

Appendix B: 2023 Active Participants Survey
38
39
40
41
42
43
44
45

Appendix C: 2023 Separated Participants Survey
46
47
48
49
50
51
52
53

Appendix D: Potential Features and Participant 

Suggestions – New Question Wording

Question 

Number

2022

Question 

Number

2023

Question wording 2022 Question wording 2023

Q2 Q2 Are you currently contributing to the 

TSP?

1. Yes

 2. No

Are you currently contributing any of 

your basic pay to the TSP?

1. Yes

 2. No

Q3A Q3A Are you contributing 5% of your basic 

pay?

1. Yes

2. No

3. Don’t Know

Are you contributing at least 5% of 

your basic pay in order to receive the 

full 5% matching contribution?

1. Yes

2. No

3. Don’t Know

Q5 Q5 Considering each of the following ways 

you have heard from or interacted with 

the TSP in the past 12 months, rate the 

overall usefulness of each. If you have 

not used a source or done any activity in 

the past 12 months, please indicate by 

selecting that response.

Q5_A Annual statement

Q5_M TSP booklets/brochures

Q5_N My Account access on tsp.gov

Q5_O General plan information on tsp.gov

Q5_E ThriftLine to speak live to a 

representative

Q5_F ThriftLine to speak live to a 

representative

Q5_H Informational emails from the TSP

Q5_I Information from the TSP on social 

media (e.g., Facebook, Twitter, or YouTube)

Q5_L Secure emails/e-messaging (when 

logged-in and communicating with a service 

representative securely)

Considering each of the following ways 

you have heard from or interacted with 

the TSP in the past six (6) months, rate 

the overall usefulness of each if you 

have not used a source or done any 

activity in the past six (6) months, please 

indicate so in the last column.

Q5_A Annual statement

Q5_M TSP booklets/brochures

Q5_N My Account access on tsp.gov

Q5_O General plan information on tsp.gov

Q5_E ThriftLine to speak live to a 

representative

Q5_F ThriftLine to speak live to a 

representative

Q5_H Informational emails from the TSP

Q5_P My Account access through TSP mobile 

app

Q5_Q AVA virtual chat assistant

Q5_R Training classes/seminars/webinars/ 

provided by the TSP

Q16_2 Q16_2 Other plans offer more flexibility to 

withdraw money from specific funds 

Other plans allow the withdrawal of 

money from specific investment funds

Q19 Q19 Q19_B More flexible withdrawal options 

available elsewhere

Q19_C More or better investment choices 

elsewhere

Q19_D Better customer service

Q19_F Available or better retirement planning 

tools elsewhere

Q19_E Financial advisory services are 

available elsewhere

Q19_G Lower costs or administrative fees 

elsewhere

Q19_H Higher investment returns elsewhere

Q19_B Better withdrawal options are available 

elsewhere

Q19_C Better investment choices are 

available elsewhere

Q19_D Better customer services are available 

elsewhere

Q19_F Better planning tools or calculators are 

available elsewhere

Q19_E Personal financial advisory services 

are available elsewhere

Q19_G Lower investment expenses or 

administrative fees are available elsewhere
54

Question 

Number

2022

Question 

Number

2023

Question wording 2022 Question wording 2023

Q19_H Higher investment returns are available 

elsewhere

Q23 Q23 Q23_B More flexible withdrawal options 

available elsewhere

Q23_C More or better investment choices 

elsewhere

Q23_D Better customer service

Q23_F Available or better retirement planning 

tools elsewhere

Q23_E Financial advisory services are 

available elsewhere

Q23_G Lower costs or administrative fees 

elsewhere

Q23_H Higher investment returns elsewhere

Q23_B More flexible withdrawal options 

available elsewhere

Q23_C More or better investment choices 

elsewhere

Q23_D Better customer service

Q23_F Available or better retirement planning 

tools elsewhere

Q23_E Financial advisory services are 

available elsewhere

Q23_G Lower costs or administrative fees 

elsewhere

Q23_H Higher investment returns elsewhere

Q46 Q46 What, if any, difficulties have you had 

logging in to your My Account in the past 

3 months? (Select all that apply)

What, if any, difficulties have you had 

logging in to My Account since 

completing the one-time process to set 

up your new login? (Mark all that apply)

Q8_1 Q8_DNR In the past 12 months, have you read 

your quarterly or annual statement? 

1. Yes

2. No

Did not read annual statement.

Q8 Q8 How satisfied are you with each of the 

following on your statement (quarterly 

or annual)?

How satisfied are you with each of the 

following on your annual statement?

Q57 Q57 Did you try to log in to your account in 

the past 3 months?

1. Yes

2. No

Have you logged in to your My 

Account on TSP.gov since completing 

the one-time process to set up your 

new login?

1. Yes

2. No

Q49_1 Q49_1 If you called the ThriftLine in the past 

three (3) months and spoke to a 

Participant Service Representative, 

please indicate your satisfaction with 

the following:

Live Participant Service 

Representatives are available 

weekdays from 7:00 a.m. to 9:00 p.m., 

Eastern Time by calling the TSP 

ThriftLine.

If you called the ThriftLine in the past 

three (3) months and spoke to a 

Participant Service Representative, 

please indicate your satisfaction with 

the following:

Q12 Q12 Please rate your overall satisfaction with 

the time it took to complete the following 

transactions in your TSP account in the 

Please rate your overall satisfaction with 

the time it took to complete the following 

transactions in your TSP account in the 
55

Question 

Number

2022

Question 

Number

2023

Question wording 2022 Question wording 2023

past 12 months. Please consider from 

the time you contacted the TSP until the 

transaction was completed.

Q12_A Took out loan

Q12_G Changed investment allocation of my 

current account balance

Q12_I Changed the investment allocation of my 

future contributions

Q12_C Made account updates (e.g., name 

change, beneficiaries, password, etc.)

Q12_H Changed current investments 

(reallocated fund balances)

Q12_D Took withdrawal using online form 

wizard

Q12_E Rolled over/transferred other eligible 

retirement plan account balances into the TSP

Q12_F Rolled over/transferred money out of 

the TSP into other eligible retirement plan 

accounts

past six (6) months. Please consider 

from the time you contacted the TSP 

until the transaction was completed.

If you did not complete such a 

transaction, please indicate that in the 

last column.

Q12_A Took out loan

Q12_G Changed investment mix of my current 

account balance

Q12_I Changed the investment mix of my 

future contributions

Q12_C Made account updates (e.g., name 

change, beneficiaries, password, etc.)

Q12_H Changed current investments 

(reallocated fund balances)

Q12_D Took a withdrawal

Q12_E Rolled over/transferred other eligible 

retirement plan account balances into the TSP

Q12_F Rolled over/transferred money out of 

the TSP into other eligible retirement plan 

accounts

Q31 Q31 Indicate number of years employed by 

the Federal Government and/or 

Uniformed Services:

Number of years employed by the 

Federal Government and/or Uniformed 

Services: (Please enter actual number.)

Q39 Q39 1. $25,000 or less

2. $25,001 - $40,000

3. $40,001 - $60,000

4. $60,001 - $80,000

5. $80,001 - $100,000

6. $100,001 - $150,000

7. $150,001 or more

1. $40,000 or less

2. $40,001 - $80,000

3. $80,001 - $120,000

4. $120,001 - $160,000

5. $160,001 - $200,000

6. $200,001 - $240,000

7. $240,001 or more
56

Question 

Number

2022

Question 

Number

2023

Question wording 2022 Question wording 2023

NQ1 What, if anything, can the TSP do to 

improve the annual statement? 

(Verbatim)

NQ2 Beginning in June 2022, TSP 

participants were required to set up a 

new login in order to access the My 

Account page on TSP.gov. Have you 

completed this one-time process?

1 Yes

2 No

3 Not Sure

NQ3 How easy or difficult was the one-time 

process to set up your new login for My 

Account and TSP.gov?

 5. Extremely likely

 4. Likely

 3. Neither likely nor unlikely

 2. Unlikely

 1. Extremely unlikely

 8. Don’t know/Haven’t thought about it

NQ4 How satisfied are you with the following 

aspects of My Account? 

 5. Extremely likely

 4. Likely

 3. Neither likely nor unlikely

 2. Unlikely

 1. Extremely unlikely

 8. Don’t know/Haven’t thought about it

NQ4_A Overall ability to track and manage 

your TSP investments

NQ4_B Ease of finding information of interest

NQ4_C Ease of navigating within the site

NQ4_D Ease of understanding information 

provided

NQ4_E Ease of making/initiating account 

transactions

NQ4_F Ease of signing and submitting forms

NQ5 Have you used the TSP mobile app in 

the past three (3) months?

1. Yes

2. No

NQ6 How satisfied are you with the following 

aspects of the TSP mobile app?

 5. Extremely likely

 4. Likely

 3. Neither likely nor unlikely

 2. Unlikely

 1. Extremely unlikely
57

 8. Don’t know/Haven’t thought about it

NQ4_A Overall ability to track and manage 

your TSP investments

NQ4_B Ease of finding information of interest

NQ4_C Ease of navigating within the mobile 

app

NQ4_D Ease of understanding information 

provided

NQ4_E Ease of making/initiating account 

transactions

NQ4_F Ease of signing and submitting forms

NQ4_G Ease of logging in to the mobile app

NQ7 Did you (or are you likely to) transfer 

some or all of your money from your 

TSP account into another eligible 

retirement account?

1. Yes

2. No

3. Don’t Know

NQ8 Do you know what an in

-plan Roth 

conversion is?

1. Yes

2. No

NQ9 How well do you understand the tax 

consequences of doing an in-plan Roth 

conversion if that option were made 

available to you?

(An in-plan Roth conversion is when 

you convert some or all of your 

traditional balance to a Roth balance.)

 5. Extremely likely

 4. Likely

 3. Neither likely nor unlikely

 2. Unlikely

 1. Extremely unlikely

 8. Don’t know/Haven’t thought about it

NQ10 How likely would you be to do an in

-

plan Roth conversion (now or in the 

future) if you had the option?

(For example, if you did an in-plan Roth 

conversion of $100,000 and you are in 

a 24% federal tax bracket, you would 

need to pay at least $24,000 in federal 

income taxes as well as additional 

state income taxes depending on your 

state. Federal and state taxes must be 

paid from money outside the TSP to 

avoid triggering additional taxes and 

potential penalties depending on your 

age and employment status.)

 5. Extremely likely
58

 4. Likely

 3. Neither likely nor unlikely

 2. Unlikely

 1. Extremely unlikely

 8. Don’t know/Haven’t thought about it

NQ11 Did you know that the TSP transitioned 

to a new service provider starting in 

June 2022?

1. Yes

2. No

NQ12 Overall, how satisfied are you with the 

experiences you’ve had with the TSP 

since the June 2022 transition?

5. Extremely likely

 4. Likely

 3. Neither likely nor unlikely

 2. Unlikely

 1. Extremely unlikely

 8. Don’t know/Haven’t thought about it