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Simple English definitions for legal terms
Federal Retirement Thrift Investment Board
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A quick definition of Federal Retirement Thrift Investment Board:
The Federal Retirement Thrift Investment Board (FRTIB) is a group that helps federal employees save money for when they retire. They created the Thrift Savings Plan, which is a way for federal workers to put aside extra money for their future. The FRTIB was started in 1986 and is in charge of making sure the plan works well.
A more thorough explanation:
Federal Retirement Thrift Investment Board
The Federal Retirement Thrift Investment Board (FRTIB) is a group responsible for managing the Thrift Savings Plan, which allows federal employees to save extra money for their retirement. The FRTIB was created in 1986.
One example of the FRTIB's responsibilities is to make sure that the Thrift Savings Plan is running smoothly and efficiently. They also provide information and resources to federal employees to help them make informed decisions about their retirement savings.
Another example is that the FRTIB oversees the investment options available in the Thrift Savings Plan. They work to ensure that the investment options are diverse and meet the needs of federal employees at different stages of their careers.
The examples illustrate how the FRTIB is responsible for managing the Thrift Savings Plan and ensuring that federal employees have access to a reliable and effective retirement savings plan. The FRTIB's oversight of the investment options available in the plan helps to ensure that federal employees have a range of options to choose from and can make informed decisions about their retirement savings.