Roth TSP Contribution Rules Changes – Action Required

Current Thrift Savings Plan participants who are contributing to the Roth TSP must make changes to how they make their contributions, otherwise their contributions will automatically stop. Current rules allow members to contribute a specific dollar amount to their Thrift Savings Plan account. The new rules will require members to contribute a percentage of their pay […]

Podcast 001 – Thrift Savings Plan Basics & Why You Should Participate

http://traffic.libsyn.com/militarywallet/TMW_001_Thrift_Savings_Plan_101.mp3 Podcast: Play in new window | Download Subscribe: iTunes | Android | RSS Military members and many government employees have access to pension plans, which are fast becoming hard to find in the civilian sector. But even if you qualify for a pension plan, will it be enough to finance your retirement, or will […]

2015 Thrift Savings Plan Contribution Limits

Thrift Savings Plan officials recently release the 2015 Thrift Savings Plan Contribution Limits, as stated by the TSP. Thrift Savings Plan contribution limits are calculated on an annual basis and can change based on rules set by the IRS. There is no change to the TSP contribution limits for employee deferrals or for catch-up contributions, […]

Thrift Savings Plan (TSP) Life Annuity Guide

One of the biggest financial decisions military and government retirees face is what to do with the funds in their Thrift Savings Plan (TSP). Participants in the TSP have multiple options when they leave government service. These options give you a lot of flexibility with your future and your decision should be based on many individual […]

Sequestration Impact on Thrift Savings Plan Contributions

The Sequestration will affect virtually every government employee, including civil service employees, DoD civilians, and military members. While military pay will remain unaffected, many of their non-monetary benefits may be cut. Unfortunately, DoD civilians and other civil service employees may be subject to furloughs of up to 20% of their hours each pay period. According […]

How to Manage Your Thrift Savings Plan Account

Managing your Thrift Savings Plan account seem like a simple task – after all, there are only a handful of funds within the TSP. So it should be fairly easy to set up your account, allocate your investments, and make sure things stay in balance with the rest of your investment portfolio, right? On the […]

The Roth Thrift Savings Plan Has Arrived

If you are currently participating in the Thrift Savings Plan, then you have probably heard that a good thing just got better. The long anticipated Roth option for the Thrift Savings Plan was launched this week after several years of changes and delays. Unfortunately, not all branches will receive access to the Roth TSP on […]

Can I Contribute to the TSP When I Leave the Military?

The Thrift Savings Plan is one of the best tools military members have to prepare for retirement. Similar to a civilian 401k plan, the Thrift Savings Plan is an employer sponsored retirement plan which allows participants to save money for retirement directly from their paycheck. The added benefit is the money you contribute isn’t taxed […]

Should You Rollover Your TSP Account Into an IRA?

If you have left government or military service in recent years, then there is a good chance you still have a Thrift Savings Plan (TSP) account in your name. Personally, I’m a big fan of consolidating financial accounts to make financial planning and management easier to deal with. But the TSP is in it’s own […]