FRTIB1-24-Q-0001 Participant Srvys-Attach A-Statement of Work_6.11.24.pdf

FRTIB1-24-Q-0001

FEDERAL RETIREMENT THRIFT INVESTMENT BOARD (FRTIB)

PARTICIPANT SURVEYS

STATEMENT OF WORK

Table of Contents

1.0 Background

2.0 Objectives

3.0 Scope of Work

4.0 Tasks and Deliverables

5.0 Additional Contract Requirements

5.1 Non-Disclosure and Conflicts of Interest – See applicable clauses

5.2 Agency Property Accounting

5.3 Data Rights

5.4 Supply Chain Risk Management (SCRM)

6.0 Performance Standards

7.0 Contract Performance Location

8.0 Delivery Schedule

9.0 Security Requirements and Standards

10.0 Information Technology

10.1 Agency Specific IT Requirements

10.2 Contractor Specific IT Requirements

11.0 Agency Furnished Equipment (AFE) and Agency Furnished Information (AFI)

Enclosure 1 Performance Standards Table

Enclosure 2 Delivery Schedule Table

Enclosure 3 Acronyms

Enclosure 4 TSP Groups, Milestones and Survey Sizing Table

Participant Surveys Statement of Work

1.0 Background

The Federal Retirement Investment Board (FRTIB) is an independent Federal government agency in the Executive Branch created by the Federal Employees’ Retirement System Act of

1986 (FERSA). The Thrift Savings Plan (TSP) is a retirement savings and investment plan for

Federal civilian employees and members of the uniformed services that offers its participants the same type of savings and tax benefits that many private corporations offer their employees under

I.R.C.§401(k) plans. The TSP is the largest participant-directed defined contribution plan in the world.

FRTIB procurements largely adhere to the FAR, unless doing so might infringe upon the

Agency’s fiduciary obligations under Federal Employees’ Retirement System Act (FERSA).

FRTIB has adopted the FAR as its primary contracting policy and procedures for procuring its goods and services.

2.0 Objectives

The mission of the FRTIB is to administer the TSP solely in the interest of the participants and beneficiaries. As such, the FRTIB, also referred hereto as the Agency, needs to understand the satisfaction, perceptions, and behaviors of plan participants to develop effective plan features and communications and tools geared at meeting the needs of plan participants.

To accomplish this, the Agency periodically surveys TSP participants. These surveys assist the

Agency in understanding participant perceptions, desires, frustrations, and satisfaction of the

Thrift Savings Plan to inform changes to plan features and communications to participants.

The contractor shall provide non-personal services to the Federal Retirement Thrift Investment

Board (FRTIB) for the end-to-end administration of surveys focused on gaining insight into the satisfaction, perceptions, and behaviors of Thrift Saving Plan participants.

The agency will use the survey results to gauge participant satisfaction with plan features, tailor communications, and inform decisions on plan changes or new feature development.

Specifically, the Agency seeks a consultant to administer a Participant Satisfaction Survey , a

Financial Wellness Survey and other ad-hoc topical surveys, as needed.

The Agency seeks a contractor with robust knowledge of the 401(k)/Defined Contribution (DC) plan industry to include broad benchmarks, trends, DC plan product offerings, participant perceptions, and an in-depth knowledge of the TSP participant demographics and current plan features.

The contractor will plan, field, analyze and report survey results. The survey presentations and reports must:

• Identify long term trends and statistically significant year over year changes,

• Make comparative analysis between the TSP and broad DC industry benchmarks and between participant demographic groups and

• Be of a high professional quality suitable for presentation to the Agency’s Executive level board members, press and public.

3.0 Scope of Work

TSP SUMMARY INFORMATION

As of the end of December 2023, the TSP had approximately 7 million participants and beneficiaries with approximately $845 billion in assets. The TSP has four primary participant groups: FERS, CSRS, Uniformed Services-BRS and Uniformed Services- Legacy. Thrift

Savings Plan has evolved since its inception in 1987. Summary information about the TSP can be found at: Forms and Resources | The Thrift Savings Plan (TSP) ,”Summary of the Thrift Savings

Plan”. More detailed participant group descriptions and recent plan milestones can be found in sections I and II of the SOW Enclosure. Additional information about the TSP can be found at:

www.tsp.gov and www.FRTIB.gov.

SURVEY TYPES, METHODOLOGY AND SIZING

TYPES AND FREQUENCIES OF SURVEYS:

Participant Surveys:

1) Participant Satisfaction Survey: The Participant Satisfaction Survey focuses on collecting participant satisfaction with plan features. In the past, the Participant

Satisfaction Survey was conducted on an annual basis. In future years, FRTIB wants the flexibility to conduct the Participant Satisfaction Survey and the Financial

Wellness Survey on alternating years. This will result in conducting only the

Satisfaction Survey on one year and the Financial Wellness Survey the next year.

FRTIB wants to maintain the ability to conduct both the Participant Survey and

Financial Wellness survey in the same year if desired.

2) Participant Financial Wellness Survey: The Participant Financial Wellness Survey, last implemented in 2023, focuses on participant perceptions of their general financial and retirement planning well-being and is typically conducted every other year

(biennially). FRTIB wants the flexibility to conduct both the Participant Satisfaction

Survey and the Financial Wellness Survey in the same year if desired.

Other Ad-hoc surveys:

3) Ad Hoc Surveys (As-needed): In addition to the Satisfaction and Wellness Surveys, the agency conducts other ad-hoc surveys, as-needed. These ad hoc surveys are more narrowly focused on a single plan feature or participant behavior or perception.

https://www.tsp.gov/forms/ http://www.tsp.gov/ http://www.frtib.gov/

Topics for past ad hoc surveys have included participant withdrawal preferences and participant annuity perceptions.

SURVEY METHODOLOGY

The agency conducts surveys in three primary phases: Planning, Fielding, and Analysis &

Reporting.

Survey Planning: During this phase, FRTIB works closely with the survey vendor to identify survey objectives, appropriate questions, the appropriate survey methodology and applicable survey sampling plan. The survey vendor provides recommendations for the best stratum groupings and participant indicative data needed to achieve survey objectives. FRTIB provides survey strata counts and a random sample of participants to be surveyed in accordance with the vendor’s sampling plan. The vendor develops the appropriate web-based survey and/or paper-based surveys and corresponding survey response collection processes. User testing of survey instruments may be conducted during this phase if determined necessary and aligned with the needs of the survey objectives.

The participant survey sample provided by FRTIB will contain participant mailing and email addresses along with other indicative data. This information is PII and must be managed in accordance with Sections 5.0 and 10.0 below.

Survey Fielding: During this phase, the vendor develops and sends out promotional products such as notification postcards and emails prior to the survey fielding dates to alert participants of the impending survey. The vendor subsequently sends paper surveys and/or weblinks to each participant as well as follows up notification postcards/emails to ensure adequate response rates. The vendor will track and pay for all printing and postage costs. There may be two survey instruments (versions) used for each survey: one for active participants and one for separated participants. The vendor then collects and processes survey responses. The survey fielding/data collection period is typically one to two months.

Survey Analysis & Reporting: During this phase, the results of the survey are weighted by specific demographic classifications such as strata, gender, household income, retirement system and race and then results are analyzed. Analysis includes, but is not limited to:

• Statistically significant comparative analysis between TSP retirement systems and participant demographic groups within retirement systems

• Comparative analysis between the TSP and broad DC industry benchmarks

• Statistically significant year over year differences within TSP retirement systems and demographic groups

The vendor then delivers a written technical report and a presentation of survey results to FRTIB.

The technical report summarizes the survey methodology and provides results for all survey questions as well as key survey findings. The presentation is tailored to highlight executive level results, key findings, and other topics of executive interest. The presentation is delivered to the

FRTIB executive level board members during a meeting which may be attended by key TSP stakeholders, participants, and the press. The survey analysis and reporting period is typically one to two months.

Technical reports for the past iterations of TSP surveys can be found in the FRTIB.gov reading room at: Reading Room (frtib.gov). Questions from past surveys are included in the appendices of the respective survey technical reports.

SURVEY SIZING:

Participant Satisfaction Survey: Recent Satisfaction Survey sample sizes typically range between 34,000 to 40,000 participants (surveys sent) spread over 24 primary strata. The number of survey questions on recent satisfaction Surveys generally range from 26 to 35.

In the 2022 Satisfaction Survey the Agency observed an overall response rate of 14% with

35% of participants responding via mail and 65% on-line.

Financial Wellness Survey: The Financial Wellness Survey is a smaller survey than the

Participant Satisfaction Survey with a comprising sample size of approximately 10,000-15,000, with 6 primary strata, and 30 questions.

The response rate for past Financial Wellness surveys has been approximately 13 to 20%.

Other ad-hoc surveys: Other ad hoc surveys sample sizes typically range between 5,000 to 10,000 participants and typically range from 3 to 6 in primary strata. Ad-hoc surveys have far fewer questions (typically less than 10) than the Satisfaction and Wellness Surveys. Additionally, ad-hoc surveys do not require as extensive analysis and reporting as the Satisfaction or Financial

Wellness Surveys.

The response rates vary considerably more for ad hoc surveys depending on the topic, ranging from 17% to 44%.

The actual survey size required for each survey will ultimately be dependent on the survey data sampling plan determined by the contractor with FRTIB approval. A table summarizing the survey sizing and response statistics for past iterations of the Satisfaction, Wellness and other ad-hoc surveys is included in Section III of the SOW Enclosure. (Survey Sizing Table).

4.0 Tasks and Deliverables

4.1 Contract Post-award Meeting

Location: FRTIB Offices or virtually via MS teams.

https://www.frtib.gov/reading-room/

The Contractor shall meet with FRTIB staff within 14 days of selection and provide briefing materials to describe the Contractor’s technical approach for the project, high level overview of the project schedule, milestones, data gathering approach/requirements, and similar information useful in orienting FRTIB staff to the technical approach. During this meeting, the

Contractor shall provide a high-level project plan.

The Contractor shall revise the project plan based on feedback from Contracting Officer (CO) or Contracting Officer’s Representative (COR) or as needed to reflect updated project activities and timelines. The project plan will be sent to the COR in format readable by the COR. (MS

Project templated Adobe PDF file is preferred.)

4.2 Participant Satisfaction Survey

The Contractor shall plan, field, analyze & report on a Participant Satisfaction Survey, in consultation with the FRTIB staff. The survey population will include all FERS, US-BRS and

US-Legacy retirement system account holders. The results of the participant satisfaction survey will assist the Agency in understanding participant perceptions, desires, frustrations, and satisfaction of the Thrift Savings Plan. The surveys will be conducted in English only. The following paragraphs describe the current survey processes and activities within FRTIB. The activities listed in the sections below are only potential activities that could be conducted during the survey. The contractor is encouraged to propose ways to achieve SOW requirements which will make the survey process more efficient and cost effective.

4.2.1 Plan the Survey. The Contractor will apply best practices relating to survey methodology, design and management to design and plan a Participant Satisfaction Survey to gauge the level of participant satisfaction with key aspects of the Thrift Savings Plan. The sampling size and weighting plan is to be sufficient to yield statistically significant findings consistent with best practices in surveying. Survey planning activities may include but are not limited to the following activities:

• Developing a survey sampling plan to meet survey objectives.

• Recommending the best method(s) and frequency for promoting the survey (i.e., postcards, cover letters, save the date emails, reminder emails, etc.)

• Conducting user testing if deemed necessary.

• Recommending ways to improve survey responses rates and/or reduce overall survey costs. (such as new or modified promotional materials and survey modes)

• Printing and preparing hardcopy surveys (if used) and promotional products for mailing to include envelope addressing and preparation.

• Developing a secure web-based survey to enable participants to take the survey on-line and make it available for preview by FRTIB staff. The Contractor’s survey design and response collection processes shall preclude multiple response submissions by the same participant and preclude survey response submissions by participants who were not selected for the survey.

• Preparing a Frequently Asked Questions (FAQ) document that explains the purpose of the survey, how participants were selected, data anonymity and safeguards. The FAQ document should provide a vendor POC (telephone number or email) that participants can call if they have specific questions about taking the survey or getting a replacement survey sent to them. The FAQ documents should be suitable to be sent to representatives at TSP call centers to provide them an overview of the survey, the survey dates, confidentiality precautions of responses, and actions to take if participants contact the call centers seeking information about the survey.

• Leading periodic survey status meetings with FRTIB stakeholders. The focus of these meetings is to review the upcoming survey plan tasks, issues, responsible parties, and task deadlines as well as any changes to the survey project plan. The Contractor will develop and send the meeting agenda to FRTIB staff members involved in the meeting at least the day prior to the meeting.

FRTIB will provide counts of population strata as requested and will provide participant samples with indicative data after receiving the sampling plan from the contractor. The Contractor shall recommend indicative data which should be included with each sample to achieve survey objectives.

4.2.2 Field the Survey. The Contractor will field the survey to the selected participants via the appropriate mode and collect responses. The Contractor will track and pay for all postage costs associated with fielding the survey.

Survey fielding activities may include but are not limited to the following activities:

• Mailing and/or emailing promotional products and surveys directly to participants. FRTIB will provide participants’ physical and email addresses in accordance with the contractor’s sampling plan.

• Accumulating mail and/or web-based participant survey responses and tracking response rates across strata and sending appropriate reminders.

• Providing survey response data to the Agency in tabular form. Both qualitative and quantitative data collected will be delivered to the Agency in electronic format that will enable the Agency to be easily understand and further manipulate and analyze after the conclusion of the survey. Survey response data returned to the Agency shall be anonymized and shall not contain PII or data fields which would be able to associate responses to individual participants.

4.2.3 Analyze & Report the Survey. The Contractor shall produce an executive summary presentation of survey results, within 60 calendar days of the conclusion of the survey fielding period. The contractor shall further produce a technical report including and executive summary and covering the results and survey methodology. The survey technical report will be published on a public facing website for participants and TSP stakeholders to view and the executive summary brief will be presented to the Agency’s board of directors. Key findings and conclusions will be tested for statistical significance and noted as such in the Executive presentation and technical reports.

4.2.3.1 Executive-level Summary presentation.

The contractor will provide an executive level Power-Point presentation of results. The presentation shall contain graphical representation of key survey results as well as narrative bullets highlighting key findings. The presentation will be of executive level quality and substance. The informational graphics for each slide should clearly demonstrate the results and findings. The presentation will include speaking notes a presenter can use when briefing the presentation to the board of directors.

The final main presentation will be approximately 15-25 slides in length and may contain supplemental information in appendices. While it is expected that many of the same informational graphics created for the technical report will be used in the presentation, some tailoring of graphics may be necessary to convey specific findings and results for the presentation. The contractor may be required to respond to questions arising from the presentation to the board.

4.2.3.2 Technical Report. The contractor will provide a results-oriented report in accordance with the following guidance:

• The report will contain narrative and informational graphics summarizing each survey question. The informational graphics should clearly support and illustrate results and support the key findings. The report should not rely on tabular presentation of results. The report should avoid using complex surveying methodology and statistical terminology in the main body.

• The report will include comparisons of TSP demographic groups of interest as designated by FRTIB staff, as well as comparisons to previous year survey results and will identify statistically significant changes and/ or trends in satisfaction and sentiment across demographic groups.

• The report will identify any general economic and market event during the administration period which may have impacted survey results. In addition, general market data will be correlated to historical TSP satisfaction levels. Such data may include but is not limited to: Consumer Price Index, Quarterly GDP growth, Dow Jones Industrial Average, U.S.

Recorded Unemployment Rate etc.

• The Contractor shall include in the report comparisons of TSP results and findings as they relate to relevant benchmarks across the Defined Contribution (DC)/401(k) retirement plan industry. Examples of such comparisons may include but are not limited to: DC plan/401(k) participant participation rate, DC plan/401(k) satisfaction rate, DC plan/401(k) participant use and/or satisfaction of various plan communications channels, DC plan/401(k) participant use (uptake rates) of various plan features such as loans, withdrawal options, etc.)

4.2.3.3 Present Survey Results

The contractor shall be prepared to deliver the presentation of survey results to Agency executives and/or board members. This is an optional task since FRTIB staff typically brief the board. The Agency will notify the contractor 30 days in advance if this task is required.

The presentation will be given either in person at the Agency offices in Washington, DC or via teleconference to Executive managers and/or Board members. The public and press may also be in attendance.

4.3 Financial Wellness Survey

The contractor shall plan, field, report and analyze a Financial Wellness Survey . The tasks/sub-tasks and activities for conducting the Financial Wellness Survey are the same as those outlined above for the Participant Satisfaction Survey in paragraph 4.2. The primary difference between the

Wellness Survey and the Satisfaction Survey is the number of stratum and total surveys administered in accordance with the Survey Sizing and Response Table found in Enclosure 4. (

Sec. III, Survey Sizing Table).

4.4 Other Ad-hoc Surveys (Optional task)

The contractor shall plan, field, analyze and report on ad hoc surveys on an as needed basis.

Ad hoc surveys examine topics of special interest which are more narrowly focused in scope and size than the Participant Satisfaction and Wellness surveys. These surveys may be conducted solely by mail or online web surveys depending on the most appropriate way to reach the targeted population. Ad hoc surveys response collection may span several months if needed, to capture responses about specific participant transactions which occur repetitively over several months. For example, a multi-month ad hoc survey could be used to capture participant satisfaction of the loan transactions over several months. In this case, a representative sample of participants taking loans in each month would be surveyed for up to 12 months. The analysis and reporting phase for ad hoc survey is far less extensive than for other surveys. Analysis typically involves highlighting key survey findings in a 5-10 slide executive level power-point presentation of results and corresponding

3–5-page technical report. Sizing of ad hoc surveys differ from other surveys in sample size and number of strata as indicated in the Survey Sizing and Response Table found in the SOW

Enclosure 4. (Sec.III, Survey Sizing Table).

The Contractor should be prepared to conduct up to three ad-hoc surveys per period of performance. The Agency will notify the contractor a minimum of 30 days in advance if this task is required.

5.0 Additional Contract Requirements

5.1 Non-Disclosure and Conflicts of Interest – See Non-Disclosure and Conflicts of Interest clauses

5.2 Agency Property Accounting

FRTIB does not foresee issuing any AFE to Contractor to fulfill requirements under this statement of work.

5.3 Data Rights

The preliminary and final deliverables and all associated working papers, data and other material generated by the Contractor in the performance of this SOW are the exclusive property of the FRTIB.

5.4 Supply Chain Risk Management (SCRM)

FRTIB does not foresee a requirement for the Contractor to address SCRM mitigation strategies in the proposal.

6.0 Performance Standards

All task deliverables shall comply with the performances standards and requirements in

Enclosure 1 .

7.0 Contract Performance Location

https://fedthrift-my.sharepoint.com/personal/dennis_mcnulty_frtib_gov/Documents/HomeDrive/Contracts_Procurements/Survey%20Contract%20Recomplete/Current%20Aquisition%20Documents/A.4_Particiapant%20Surveys_SOW.docx#_Enclosure_1_Performance

The primary place of performance will be conducted remotely in the Continental United

States of America.

8.0 Delivery Schedule

Delivery of work items shall in in accordance with Enclosure 2 .

9.0 Security Requirements and Standards

Confidential Information

All information received by the Contractor because of performance of this contract is confidential and subject to the Privacy Act of 1974. All contractor personnel shall maintain this information in strict confidence and shall not disclose this information, or any information obtained because of its performance of this contract, to any person or entity without the prior written approval of the Contracting Officer.

All contractor personnel are responsible for adhering to the following:

Shall not disclose this information to any person or entity or otherwise make any improper use of this information during or after the performance period of this contract, Strictly prohibited from using information for their personal or business gain, personally or for another, directly or indirectly, without prior written approval of the Contracting

Officer. This provision/clause shall be placed in subcontracts.

Personnel Security

All Contractor staff assigned to work under this Contract shall be U.S. citizens or resident aliens with current valid green cards.

The contractor shall not allow any of its employees to access Agency information and systems except to the extent that an employee needs access to work under this contract.

The contractor shall coordinate with FRTIB to ensure that all such individuals are screened according to the risk management policies and standards prior to being provided access to

Agency information and systems.

The Contractor shall follow FRTIB’s “Contractor Fitness Requirements” as defined by the

Office of Resource Management. The level of screening required shall be dependent upon a risk designation assigned to this Contract and the individual’s responsibilities and access required to perform services.

The contractor shall ensure that all individuals on the Contract are re-screened according to the policies and standards in FRTIB’s Personal Identity Verification program and risk https://fedthrift-my.sharepoint.com/personal/dennis_mcnulty_frtib_gov/Documents/HomeDrive/Contracts_Procurements/Survey%20Contract%20Recomplete/Current%20Aquisition%20Documents/A.4_Particiapant%20Surveys_SOW.docx#_Enclosure_2_Delivery management program. Failure to coordinate these rescreening activities could result in individuals being denied access.

Contractor shall notify the COR and designated Agency security administration functions of the termination of any individual assigned to work on this Contract not more than 2 hours after termination. Contractor shall retrieve all credentials, property, documentation, etc. from the terminated employee. Contractor shall always ensure that it retains complete control of

Contractor- and Agency-owned information systems and information.

Contractor shall ensure that all individuals assigned to perform Services on this Contract accept and sign Non-Disclosure Agreements.

Contractor shall immediately (within 60 minutes) revoke all system access rights and restrict security (e.g., access badges) of its personnel who are no longer employed on this contract.

Contractor shall provide documentation of its compliance with this requirement upon Agency request.

Contractor shall maintain a system of sanctions against individuals who perform Services under this contract for failure to comply with any Contractor or Agency security requirements.

Contractors who may need to come to FRTIB HQs to for any reason will be escorted as visitors into the building.

Information Security

The Contractor shall ensure this data remains confidential and safeguarded.

10.0 Information Technology

FRTIB does not envision Contractors to require any access to Agency IT systems to perform this contract.

10.1 Agency Specific IT Requirements

The agency uses MS Office products and deliverables shall be compatible with the standard suite of MS Office products. (i.e., EXCEL, Word, Project, Teams,)

10.2 Contractor Specific IT Requirements

FRTIB does not envision any IT specific requirements that the Contractor will need to comply to successfully execute the work outlined in this SOW.

11.0 Agency Furnished Equipment (AFE) and Agency Furnished Information (AFI)

AFE:

FRTIB does not envision providing any AFE to the Contractor to fulfill the requirements under this SOW.

AFI:

FRTIB will provide the Contractor with the necessary pertinent data to include:

Population counts for survey strata for strata determined by the Contractor.

Appropriate numbers of participant data samples for each survey strata in accordance with the survey sampling plan determined by the Contractor. The sample for each participant selected will include key participant indicative (demographic and transactional) data fields required to meet the needs of the survey objectives.

The Agency will provide to the Contractor additional participant indicative data deemed necessary to meet survey objectives provided it is available.

CUI//SP-PROCURE//DL ONLY

Enclosure 1 Performance Standards Table

Task or

Subtask

Number

Performance Standard Minimum

Quality

Threshold

Maximum

Time to

Remediation

Method of

Surveillance

4.2, 4.3 & 4.4

Survey

Technical

Report(s)

Technical report(s) will contain a narrative and graphical summary of results for each survey question, grouped by question theme or subject.

The narrative and graphical summaries will highlight relevant trends, statistically significant differences changes or differences between stratum or other demographic groups from previous surveys. The report will include comparisons of TSP demographic groups of interest as designated by

FRTIB staff.

The report will include in the report comparisons of TSP results and findings as they relate to comparable benchmarks across the DC/401(k) retirement plan industry.

The report will include general economic and market historical trend data in the report findings as they relate to the survey administration period and correlate it to overall TSP satisfaction levels.

The report narrative will be succinctly written and will avoid using complex surveying methodology and statistical terminology except in designated methodology appendices.

The report will be of high quality;

generally free of grammatical and spelling errors and will be suitable for publication on a public facing website for participants and TSP stakeholders to view.

N/A 14 calendar days

COR

review

4.2, 4.3 & 4.4

Executive

Results

Presentation(s)

The presentation(s) shall contain graphical representation of survey key findings and results of interest and as well as narrative bullets highlighting key take-aways on each slide.

The presentation(s) will be of executive level quality and substance.

The informational graphics for each slide shall clearly represent the results and findings for that slide.

The presentation(s) will contain speaking notes a presenter can use when briefing the presentation to the board of directors.

N/A 14 calendar days review

Enclosure 2 Delivery Schedule Table

Task or

Subtask

Number

Deliverable Format Due Date or

Occurrence

Distribution

4.1 Contract Kick Off (KO)

Meeting

Telecom via MS

TEAMs or in person @ FRTIB

HQs

Within 14 calendar days of selection

Send meeting materials at least 24 hours in advance to

COR

4.1 Survey Project Plan Format readable

by COR (MS

Project Template in Adobe PDF is preferred.)

Within 14 calendar days of the conclusion of contract KO meeting

4.2.1 / 4.3

/ 4.4

Status meetings Telecom via MS

Teams

As agreed upon by COR and

Project PM

Send agenda to

COR with cc to all meeting invitees at least

24 hours in advance

4.2.1 / 4.3

/ 4.4

Survey Sampling Plan MS Excel IAW Project

Plan

COR and

FRTIB data analyst

4.2.1 / 4.3

/ 4.4

Survey Instrument and promotional products

Working copies –

MS Word

Final copy -

Adobe PDF format

IAW Project

Plan

COR

4.2.1 / 4.3

/ 4.4

Web-survey Secure https:// web link

IAW Project

Plan

COR

4.2.1 / 4.3

/ 4.4

Frequently Asked

Question Document

MS word IAW Project

Plan

4.2.2 / 4.3

/ 4.4

Weekly Survey

Response Report

MS word or

Excel

Weekly during survey fielding

COR

4.2.2 / 4.3

/ 4.4

Survey Response Data MS Excel Not more than

90 calendar days after final survey responses are accumulated

4.2.3.1

/4.3 /4.4

Executive Presentation MS Power Point Not more than

60 calendar days after final survey responses are accumulated

COR

4.2.3.2

/4.3 / 4.4

Survey Technical Report Adobe PDF format

Not more than

90 calendar days after final survey responses are accumulated

4.2.3 /4.3 /

4.4

Oral Presentation to board

N/A As requested, -

Not to exceed

30 minutes

FRTIB senior management staff and/or board of directors

Enclosure 3 Acronyms

Abbreviation Definition

CO Contracting Officer

COR Contracting Officer's Representative

Days Calendar Days unless otherwise specified

NLT Not Later Than

WDA Working Days After

FERSA Federal Employee’s Retirement System Act

FERS Federal Employee Retirement System

CSRS Civil Service Retirement System

BRS Blended Retirement System

WD Withdrawal

APO Army Post Office

FPO Fleet Post Office

DPO Diplomatic Post Office

PII Personally Identifiable Information

US Uniformed Services

Legacy Used to describe Uniformed Service participants who have a voluntary TSP account but do not fall under

BRS. (i.e., Participants who were in the Uniformed

Service prior to BRS implementation and did not opt into BRS.)

Enclosure 4 TSP Groups, Milestones and Survey Sizing Table

Table of Contents:

I. Participant Groups

II. Recent Milestones

III. Survey Sizing Table

I. Summary of TSP Participant Groups

Participants within the TSP fall under one of the four distinct Federal retirement systems;

FERS, CSRS, Uniformed Services-Legacy, and Uniformed Services-BRS. In each of these systems, participants can be active participants, meaning they are current government employees, or separated, meaning they have left the government employment but have retained a TSP account. In addition, the TSP has a small number of beneficiary participants, who have inherited a TSP account from a deceased participant.

A. FERS is the Federal Employees’ Retirement System established by Public Law 99-335; TSP benefits are codified in chapter 84 of title 5 U.S. Code. FERSA became effective January 1, 1987. Individuals covered under FERS pay Social Security taxes and FERS basic benefit deductions. The TSP is a core component of the three-tiered retirement benefits of FERS employees, the other two components are Social Security and the FERS basic annuity program.

FERS participants also receive an automatic agency/employer contribution to a TSP account in their name equivalent to one percent of their basic pay and receive dollar/dollar matching on the first three percent of contributions and 50-cents/dollar matching on additional contributions up to five percent of basic pay. Contributions in excess of five percent of basic pay are not matched.

There are approximately 3.90 million active TSP participants are covered under the Federal

Employees Retirement System or FERS.

B. CSRS is the Civil Service Retirement System (TSP benefits are codified in subchapter III of chapter 83 of title 5 U.S. Code). The law that created CSRS was enacted in 1920. Individuals covered under CSRS pay CSRS employee deductions and are excluded from OASDI taxes of

Social Security. Effective 2006, they became able to make contributions from basic pay to their TSP accounts up to the 402(g) limits, however, unlike FERS participants, they do not receive any Agency/employer contributions. The TSP is viewed as a supplemental retirement benefit for CSRS employees.

C. Approximately 264,000 active TSP participants are covered under the Civil Service

Retirement System or CSRS. The CSRS retirement system is no longer available to Federal employees and the CSRS is a declining population. Depending on the survey topic, the CSRS population may not be a primary demographic of concern.

Uniformed Services - Legacy personnel became eligible to participate in the TSP in 2002 following the enactment of the Floyd D. Spence National Defense Authorization Act for

2001 (Public Law 106-398). For TSP purposes, the uniformed services include members of the Army, Navy, Air Force, Marine Corps, Coast Guard, Public Health Service, and

Commissioned Officers of the National Oceanic and Atmospheric Administration, as well as members of the Ready Reserve and the National Guard. Effective 2006, uniformed service personnel became eligible to make contributions from basic pay to their TSP accounts up to the 402(g) limits, but they do not receive any agency/employer contributions. The TSP is viewed as a supplemental retirement benefit for uniformed services legacy members.

Approximately 1.33 million TSP participants are active or separated members of the

Uniformed Services – Legacy system.

D. Uniformed Services-BRS: The Fiscal Year 2016 Nation Defense Authorization Act created a new military retirement system that blends the traditional US-legacy retirement pension with a defined contribution to Service members’ Thrift Savings Plan account. The new

Blended Retirement System (BRS) went into effect on January 1, 2018. Since then, all new service members are auto-enrolled into the plan and receive matching funds. BRS members receive matching funds in a manner similar to FERs participants.

All members serving as of December 31, 2017, were grandfathered under the legacy retirement system, but those Active Component Service members with fewer than 12 years since their Pay Entry Base Date, and Reserve Component Service members who have accrued fewer than 4,320 retirement points as of December 31, 2017, had a one-year window to opt in to the new US-Blended Retirement System. The opt-in/election period ended on

December 31, 2018.These participants are referred to BRS “Opt-ins”

Approximately 1.22 million TSP participants are active or separated members of the

Uniformed Services – BRS system.

E. Dual Accounts: It is important to note that some TSP participants may have both civilian and uniformed services accounts. An example of how this can happen, is when a retired, separated or reserve Uniformed Services participants are subsequently employed by the federal government as civilians.

F. Separated and Beneficiary Participants:

Separated participants are those employees who are no longer employed by the federal government. Separated participants can be retired or have left government service for other reasons. There are approximately a total of 1.9 million separated participants in the TSP (1.1

M FERS, 651,000 US-Legacy, and 203,000 BRS). Separated participants with balances above $200 can retain their TSP accounts but cannot make contributions or take loans from their accounts. Separated Participants must begin taking RMDs in accordance with current

IRS regulations.

As of January of 2023, TSP also has approximately 37,000 beneficiary participants who have inherited TSP accounts from deceased TSP participants. Beneficiary participants have account restrictions which are similar to separated participant accounts holders.

II. RECENT TSP MILESTONES

A. Effective August 2010, all newly hired Federal employees eligible to participate in the

Thrift Savings Plan, are automatically enrolled into the TSP and had 3 percent (default contribution percentage) of their basic pay contributed to the TSP Government Securities

Investment Fund (G) fund (default employee contribution fund) unless they elected to not contribute or elected to contribute at some other level prior to the end of the employee’s first pay period.

B. Effective May 2012, TSP began accepting Roth contributions, which allow after-tax contributions into the Plan. Participants are currently not permitted to convert traditional TSP balances into Roth TSP balances within the plan.

C. Effective September 2015, the default employee contribution fund was changed from the

G fund to an age-appropriate Lifecycle Fund (L-Fund). Each of the ten L funds are a diversified mix of the five individual funds (G, F, C, S, and I).

D. Effective January 2018, the BRS military retirement system was implemented which auto-enrolled all new uniformed services members. BRS participants are provided 1%

Service automatic contributions after 60 days of service and up to 5% Service matching funds after their second year of service.

E. Effective October 2020, the default contribution percentage for auto-enrolled participants was changed from 3% to 5% of basic pay.

F. Effective July 2022, the FRTIB transitioned to a new record keeper to consolidate core services under a single provider. The transition required all participants to re-register their personal TSP accounts and provided new features and a new look and feel participant TSP account information.

III. SURVEY SIZING TABLE

Survey Name

Sample Size

Primary Strata

# Total Questions

Overall Response

Rate

Paper Response

Online Response

Satisfaction Survey

2020 Satisfaction Survey 36,253 24 26 14% 32% 68%

2021 Satisfaction Survey 34,006 24 35 15% 32% 68%

2022 Participant Satisfaction Survey 37,402 24 35 14% 35% 65%

2023 Participant Satisfaction Survey 34,031 24 38 12% 34% 66%

Wellness Survey

2020 Financial Wellness Survey 10,000 6 30 21% 41% 49%

2023 Financial Wellness Survey 5,000 6 28 13% 38% 62%

Other Ad Hoc Surveys

2014 Withdrawal Survey (*Postcard only survey) *40217 3 7 17% 17% N/A

2021 WD/Annuity Survey 5,000 8 15 44% 46% 54%