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 ...
  • 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...
  • 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...
  • IRS logo
    Thrift Savings Plan Contribution Limits
    Military.com
    The Internal Revenue Code places specific limits on the dollar amount of contributions you can make to the TSP.
  • Starting a TSP Account
    Military.com
    Read on for details on starting a thrift savings plan account, and the different contribution plans.
headerPaycheckChronicles

Paycheck Chronicles

Shutdowns and Military Pay: Fact or Fiction

As we review this week’s government shutdown threat, the comments have made one thing clear: ┬áthere’s a lot of confusion about how a government shutdown...

Starting a TSP Account

The first contribution to the TSP establishes your account. If you are a FERS employee hired (or a FERS or CSRS employee rehired) after July 31, 2010, your agency has automatically enrolled you in the TSP, and 3% of your basic pay is deducted from your paycheck each pay period and deposited in your TSP account, unless you make a contribution election (page 3) to stop or change your contributions. If FERS, you also get contributions from your agency so that a total of 7% of basic pay goes into your TSP account each pay period. See “TSP Contributions” below.

If you are a FERS employee hired before August 1, 2010, you already have a TSP account with accruing Agency Automatic (1%) Contributions. You must make a contribution election (page 3) to start contributing your own money to your account and to receive Agency Matching Contributions. See “TSP Contributions” below.

If you are a CSRS employee or a member of the uniformed services, you can make a TSP contribution election (page 3) at any time through your agency or service to establish a TSP account. You do not receive agency contributions.

TSP Contributions

There are three sources of TSP contributions:

• Employee Contributions
• Agency Automatic (1%) Contributions
• Matching Contributions

For more on each type of contribution as well as more information on the TSP program, visit the TSP section.

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