Thrift Savings Plan TSP Most Popular Articles

  • machine counting money
    Four Reasons to Sign Up for a Roth TSP
    USAA
    You may not realize it yet, but the long-delayed Roth alternative to the Thrift Savings Plan could be an exciting new addition ...
  • TSP nest egg
    Think Twice Before Cashing Out Your TSP
    FINRA|
    If you are thinking about cashing out your Thrift Savings Plan (TSP) when you leave the uniformed service, think twice. Or mayb...
  • Time to Move Out of TSP Stock Funds?
    Military.com|
    If your investment strategy includes timing the stock market, now is a good time to shift your holdings out of the TSP Funds th...
  • Investing in TSP -- Military money?
    Military.com
    The federal government-sponsored Thrift Savings Plan (TSP) began offering "lifecycle" funds in 2005 as a choice for those inter...
  • money in nest
    Thrift Savings Plan Asset Allocation
    Military.com
    Your TSP account can provide you with current income when you need it and continuous income to last your entire lifetime.
headerPaycheckChronicles

Paycheck Chronicles

Government Shutdown Could Impact Military Pay

Once again, the federal government is scrambling to pass a federal budget before the start of the new fiscal year.  Once again, it is possible...

DFAS Phases in Roth TSP Contributions

Roth IRA

The Defense Finance and Accounting Service (DFAS) will begin processing Roth TSP elections for its civilian and military customers using a phased approach beginning in June and continuing through October 2012. 

As a new choice for retirement investment planning, the Roth TSP, will give civilian employees and military service members the option to contribute after-tax wages into TSP for the first time.  Both the contributions and the earnings will be tax free when withdrawn, as long as IRS requirements are met.

The phased implementation will ensure each customer's taxable wages and TSP contributions are computed accurately.  According to DFAS officials, the schedule will provide time to complete and thoroughly test the complex changes needed to the various civilian, active duty military, and reserve component payroll systems.  The complex changes address the unique and multiple pay types in the pay systems including the different requirements of the Army, Navy and Air Force; and the active duty and reserve component requirements.  Implementation will begin with Marine Corps service members in June 2012; all DoD civilians, as well as other civilians serviced by DFAS in July 2012; to be followed by the Army, Navy and Air Force military service members in October 2012. 

Look for more specific deployment dates on Roth TSP elections coming soon on www.dfas.mil.  For more information about the Roth TSP option, see www.tsp.gov

Sound Off...What do you think? Join the discussion...

Military News App by Military.com

Download the new Military.com News App for Android on Google Play or for Apple devices on iTunes!

© 2016 Military Advantage