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  • Thrift Savings Plan

    Saving

    The Thrift Savings Plan (TSP) is a Federal Government-sponsored retirement savings and investment plan. Congress established the TSP in the Federal Employees' Retirement System Act of 1986. The purpose of the TSP is to provide retirement income. The TSP is a defined contribution plan. The retirement income that you receive from your TSP account will depend on how much you have contributed to your account during your working years and the earn... more

  • 2016 Thrift Savings Plan Limits

    The IRS has announced the 2016 limits for contributions to the Thrift Savings Plan (TSP). The elective deferral limit remains unchanged at $18,000 for the year. This is the limit for most regular contributions. If you are trying to contribute the maximum amount to your TSP account in 2016, you will need to contribute $1500 per month for the entire year. For more details, see this Paycheck Chronicles post. more

  • Thrift Savings Plan Asset Allocation

    money in nest

    Statistics show that people are living longer, healthier lives. It's possible that you could spend two, maybe three decades in retirement. You'll need your TSP account to provide you with current income when you need it and continuous income to last your entire lifetime.Your TSP Asset AllocationYour asset allocation is an important consideration while you are in retirement because you'll need sufficient income to meet your current expenses. Yo... more

  • Pentagon Backs 401(K)-Like Plan in Military Retirement Overhaul

    (U.S. photo illustration by Airman 1st Class Teresa Cleveland/Released)

    The U.S. Defense Department supports overhauling the decades-old military retirement system with a new 401(K)-like plan that troops could take with them after they leave the service. The Pentagon on Wednesday released details of the proposal, which mirrors one of the most controversial recommendations earlier this year from the independent Military Compensation and Retirement Modernization Commission. "The department considered all elem... more

  • Thrift Savings Plan Contribution Limits

    IRS logo

    2015 Update: Roth TSP is changing from a dollar amount election to a percentage of pay election. Traditional TSP will remain a percentage of pay election. In January 2015, members who want to continue their Roth TSP election must submit a new election on MyPay or submit a TSP election form TSP-U-1 to their finance office. If you do not submit a new election your Roth TSP contributions will be stopped at the end of January 2015. TSP Contribut... more

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