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What does the do?

Updates published annually

The Federal Retirement Thrift Investment Board (FRTIB) is an independent agency responsible for administering the Thrift Savings Plan (TSP), a retirement savings and investment plan for federal employees and members of the uniformed services, including the Ready Reserve. The TSP is a tax-deferred, defined contribution plan that constitutes one of the three components of the Federal Employees' Retirement System (FERS). The FRTIB's mission is to administer the TSP in the interest of its participants and beneficiaries. It was established in 1986.

In FY 2024,

-$57.9M

in net spending was recorded by the Federal Retirement Thrift Investment Board

How much does the Federal Retirement Thrift Investment Board spend?

The Federal Retirement Thrift Investment Board spent -$57.9 million in fiscal year (FY) 2024. The department ranked 135th among federal agencies in total spending.

The Federal Retirement Thrift Investment Board accounted for <0.1% of all federal spending in FY 2024.

Share of FRTIB net spending compared to the top ten highest spending agencies in FY 2024

Federal spending may shift over time due to population growth, changes in policy and programs, and emerging problems to address. Adjusting for inflation, the Federal Retirement Thrift Investment Board’s federal spending has decreased from $427.2 million in 1987 to -$57.9 million in 2024.

The Federal Retirement Thrift Investment Board’s federal spending in FY 2024 was lower than in FY 1987.

Yearly federal net spending by FRTIB, adjusted for inflation (2024 dollars), FYs 1987–2024

Since 1987, the Federal Retirement Thrift Investment Board's net spending has decreased by $485.2 million, while overall federal spending has increased from $2.8 trillion (in 2023 dollars) to $6.78 trillion, or 142%.
As a percentage of the overall federal budget, a positive figure means agency net spending made up some positive portion of total spending; a negative number means that generated revenue offset a portion of spending. In 2024, the Federal Retirement Thrift Investment Board offset -0.085% of all federal spending.
Major legislation, internal or global economic conditions, and acute events like the COVID-19 pandemic can affect spending year to year. For example, the federal budget fluctuated during the pandemic, rising from $5.3 trillion (in 2023 dollars) in 2019 to $7.7 trillion in 2020 and $7.8 trillion in 2021.

The Federal Retirement Thrift Investment Board offset 8.5E-4% of overall federal spending in FY 2024.

Percentage of federal budget dedicated to FRTIB, FYs 1987–2024

Most federal spending can be categorized as direct or indirect. Direct spending refers to money the federal government spends on budget items such as federal programs, employee salaries, and debt interest. Indirect spending refers to federal transfers to state and local governments.
In FY 2024, all of the Federal Retirement Thrift Investment Board's spending was direct.
The chart below outlines all net FRTIB spending.

How did the Federal Retirement Thrift Investment Board spend its budget in 2024?

Federal government net spending isolated to FRTIB, FY 2024

How many people work for the Federal Retirement Thrift Investment Board?

Some 239 of the 2.31 million total civilian federal employees work for the Federal Retirement Thrift Investment Board as of September 2024. This is 151.6% more people than the agency staffed in 2010.

The number of federal employees working for the Federal Retirement Thrift Investment Board has increased 151.6% since 2010.

Number of federal employees working for FRTIB, September 2010–2024

FRTIB accounts for 0.01% of the overall federal workforce. As the number of federal employees has changed, so too has the way the workforce is organized, with resources allocated to agencies depending on government priorities. FRTIB constituted a larger share of the overall federal workforce in September 2024 than in 2010 (0.0046%).
While the number of employees on an agency’s payroll contributes to that agency’s expenditures, some agencies have relatively few employees compared to their budget or vice versa, giving them an outsized share of either the budget or the workforce. According to the most recent data, the Federal Retirement Thrift Investment Board's share of the workforce (0.01%) is larger than its share of the budget (0.00085%).

Who leads the Federal Retirement Thrift Investment Board?

The FRTIB is led by an Executive Director. The Executive Director is selected by a Board of five appointees, who are appointed by the president. Board members serve four year terms.

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Methodology

USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.

Page sources

USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.

  • Office of Personnel Management

    FedScope

  • Office of Management and Budget and US Department of the Treasury

    Budget of the US Government and Monthly Treasury Statement

    Office of Management and Budget and US Department of the Treasury logo