Use Your Thrift Savings Plan

Week of February 23, 2009

If you are a uniformed servicemember, you are eligible to help save for your retirement through the Thrift Savings Plan (TSP). The TSP allows you to save a percentage of your pretax income, up to a current maximum of 15,500 per year. The TSP is open to all active-duty and reserve members of the U.S. uniformed services, but you must do the necessary paperwork to become an active participant. If you choose to participate, ask your disbursing office or download and print out the TSP Election Form (TSP-U-1). Return the completed form to your service's payroll or disbursing office. For more information, visit the TSP website.

To learn more about personal finances, visit the Military.com Finance Center.