A new issue brief provides a historical overview of the Federal Employees’ Retirement System and the Thrift Savings Plan and how they create a combined approach to achieving retirement security.

Federal Employees’ Retirement System and the Thrift Savings Plan: Creating a Combined Approach to Retirement Security, NIRS’ issue brief, finds that:

• The retirement policy discourse in 1986 was much different than those occuring today.
• Knowledge of the experience of FERS and TSP can inform today’s discussion on reform.
• Mandating all newly hired state and local employees participate in Social Security has sharply different budget consequences for state and local government than it did for the federal government.