On Tuesday, October 19, the Employee Thrift Advisory Council (ETAC) met with the staff of the Federal Retirement Thrift Investment Board (FRTIB) for its annual meeting. Federal Managers Association National President Craig Carter represented the association.

Meeting participants reviewed Thrift Savings Fund statistics, heard a legislative update, reviewed the FY2022 FRTIB Budget, and reviewed the Thrift Savings Plan participant satisfaction survey results. Impressively, the FY21 FRTIB operational highlights encompassed:

- Handling more than 709K forms

- Answering 3.5 million calls

- Mailing more than 21.4 million communications materials

- Processing 145.4 million contributions equaling $37.1 billion

- Managing $737.9 billion in assets for 6.3 million participants

Presently, 94.6 percent of FERS employees participate in the TSP program, as well as 75.5 percent of CSRS employees, and 78.1 percent of active duty uniformed service members.

The Employee Thrift Advisory Council is comprised of representatives from federal and postal unions and management associations, as well as a representative from the Department of Defense on behalf of uniformed service members. ETAC provides advice on matters relating to TSP investment policies and plan administration. The board and the executive director meet with ETAC at least annually.

The Federal Retirement Thrift Investment Board is an independent federal agency with a single mission: To administer the Thrift Savings Plan solely in the interest of its participants and beneficiaries. FRTIB helps federal employees and members of the uniformed services retire with dignity by providing benefits similar to private sector 401(k) plans.

To learn more about Federal Retirement Thrift Investment Board, visit: https://www.frtib.gov/index.html.