END ALL GOVERNMENT PENSIONS
The TSP is a defined contribution plan, meaning that the retirement income received from a TSP account will depend on how much a federal employee (and the agency through matching contributions) put into an employee’s account during your working years and the earnings accumulated over that time.
For federal employees covereded by the current Federal Employees’ Retirement System (FERS), the TSP is one part of a three-part retirement package that also includes a FERS basic annuity and Social Security.
Tapping private 401k’s without also tapping the federal employee equivalent of 401k’s would seem to raise serious constitutional and/or political issues for the Democrats.
Rats in the private sector have 401k’s too. This is a total winning issue for republicans.