Is A Thrift Savings Plan A Qualified Retirement Plan? 
The Thrift Savings Plan -LRB- TSP -RRB- is a tax deferred , defined contribution plan , similar to a 410 -LRB- k -RRB- , for civil service employees and retirees and members of the uniformed services . Employee contributions are deducted from payroll pretax and accumulate tax deferred . Distributions are taxable as ordinary income . 