The Thrift Savings Plan (TSP) is one part of the three parts of your FERS retirement package, along with your FERS basic annuity and Social Security. The TSP is a retirement savings plan for civilian federal government employees. The TSP is defined as a contribution style retirement savings plan with tax advantages. The TSP is managed by an independent federal agency, the Federal Retirement Thrift Investment Board. The Board consists of five members who serve in a part-time capacity. They are nominated by the President and confirmed by the Senate. The TSP offers federal civilian employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans. As your employer, the EPA makes an automatic 1% of salary contribution, even if you do not contribute. The EPA matches your contributions dollar for dollar for the first 3% and fifty cents for each dollar for the next 2%. Click on the image below for more information.