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 [...]

Thrift Savings Plan officials recently release the 2012 Thrift Savings Plan Contribution Limits, as stated by the IRS. Thrift Savings Plan contribution limits are calculated on an annual basis and can change based on rules set by the IRS. The TSP contribution limits for 2012 increased to $17,000 from $16,500. There was no change for [...]

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 [...]

The Thrift Savings Plan is one of the best investment vehicles for military members because it is low cost, easy to use, and easy to understand. It is also one of the best ways for military members to invest while deployed. Why? Because of a feature that allows military members to contribute tax-exempt military income [...]

The Thrift Savings Plan is similar to a 401k employer-sponsored retirement savings fund except it is used by the federal government. One of the benefits of employer-sponsored retirement plans is the ability to take advantage of tax benefits for retirement savings. The catch is once you make the contribution to the retirement account, you have [...]

The Thrift Savings Plan (TSP) recently announced it will begin automatic TSP contributions for new employees. Federal employees who are part of the Federal Employees’ Retirement System (FERS) and were hired after July 31, 2010 will be automatically enrolled in the TSP with an automatic contribution of 3% of their basic pay, which will be [...]

Good news for Thrift Savings Plan (TSP) participants – the Thrift Savings Plan will begin to offering a Roth 401(k) option in 2012. In June 2009, President Obama signed the the Thrift Savings Plan Enhancement Act 2009, Public Law 111-31 which gives the Thrift Savings Plan the authority to offer a Roth 401k option. It [...]

Military and government officials have been discussing adding a Roth Option for the TSP to try and bring the Thrift Savings Plan more in line with its civilian counterpart – the 401(k) plan. The benefit of offering a Roth TSP option is that Roth contributions are made with post tax salary, and withdrawals are tax [...]

The House recently approved a measure that will add a Roth option to the Thrift Savings Plan. This feature will be similar to Roth 401k plans and Roth IRAs – contributions are made after taxes are withheld from your paycheck, and withdrawals are made tax free in retirement. The benefits of a Roth option for [...]

When I separated from the USAF in 2006, I was faced with a decision regarding my Thrift Savings Plan (TSP). Since I would no longer be a member of the armed forces, I could no longer contribute to the TSP. So what should I do? In the end I decided to leave the money in [...]