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The initial difference between a TSP and a 401(k) is that a TSP is for military members and federal employees, while a 401(k) is offered by private-sector employers. The investment options also ...
The TSP is one of three components of the Federal Employees Retirement System (FERS; the others being the FERS annuity and Social Security) and is designed to closely resemble the dynamics of private sector 401(k) and Roth 401k plans (TSP implemented a Roth option in May 2012).
A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers , and those who accept them, i.e. retailers .
Each of these persons is required by FERSA to have "substantial experience, training, and expertise in the management of financial investments and pension benefit plans." The members serve for four year terms. The members may however serve until their successor has taken office, so the actual terms the members serve can be far longer. [2]
It is important to distinguish between pension plan, funds and firm. A pension plan is a benefits program set up and sustained by an employer or an employee group. They are managed by state or private firms as well as pension funds. [6] Pension funds are financial mechanisms that provide retirement income for employees after their working life.
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The Thrift Savings Plan (TSP) is a defined contribution plan that is available only to military service members and federal employees. It is similar to the 401(k) plans offered by many private ...
PSP – Profit Sharing Plan; PTC – Private Trust Company; PTD – Project to Date; PLR – Prime Lending Rate; POC – Point of contact; PIC – Person in charge; PWIN – Percent win (a measure of performance of capture when bidding for contracts with a targeted customer base such as bidding for government contracts) [13] [14] PWP ...