The General Accounting Office is conducting a first-of-its-kind study of the federal thrift savings plan, the 401(k) equivalent that covers 1.5 million workers.
The GAO study - expected to be presented in about two months - was requested by Rep. Constance A. Morella, D-Md., and Eleanor Holmes Norton, Washington, D.C., delegate to Congress, said Don Snyder, assistant director of the pension equity group at GAO.
The legislators were interested in how the plan "was operating to provide comparable income to the Civil Service Retirement System," he said. Some federal workers might not be contributing to get retirement income comparable to what they would have gotten from the civil service system, he said.
Ms. Morella is interested in the plan because one of four workers in her Montgomery County, Md., district is a federal employee.