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Open Thrift Savings Plan to Low-Wage Workers, Study Suggests

March 25, 2021, 9:01 AM

A growing number of low-income workers without access to retirement savings could benefit from taking part in a federal employee savings program, a newly published white paper by the Washington-based think tank Economic Innovation Group recommends.

The research, published Thursday, suggests that broadened access to the Thrift Savings Plan, a federal employee retirement savings vehicle designed to mimic private-sector tax-deferred savings and investment options, could build wealth among low- and middle-income earners.

“The reason why using the TSP as a platform makes sense is that it has a proven track record now of having all the best features of a...

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