Thrift Savings Plan

The Thrift Savings Plan (TSP) is a retirement savings and investment plan specifically designed for Federal employees and members of the uniformed services, including the Ready Reserve. Established by Congress in the Federal Employees' Retirement System Act of 1986, the TSP offers a range of savings and tax benefits similar to those provided by private corporations through 401(k) plans. With the TSP, individuals have the opportunity to effectively plan for their future by making contributions, accessing their accounts, and utilizing various tools and resources to manage their investments.

The plan offers online learning modules, calculators, and forms, allowing users to make informed decisions about their investment strategies. As a participant in the TSP, individuals have access to a variety of fund options, including individual funds and lifecycle funds, which cater to different investment preferences and goals. The plan also provides options for taking out loans and making withdrawals, ensuring flexibility and adaptability to different life events and financial needs.

Overall, the Thrift Savings Plan offers a comprehensive and secure platform for Federal employees and uniformed service members to effectively save and invest for their retirement