What kind of retirement plan is tsp

If neither situation applies to you, you can still start a TSP account or resume contributing to your existing account as a non-BRS member. Change in Required Minimum Distribution Age:. Click here for more information. The return home from combat can often leave servicemembers feeling out of place with the most important people in their lives - their families.

Ken Williams, 14th Military Police Brigade chaplain. All members of the family adapt to a new 'normal' way of life. When the servicemember returns, the family may feel uncomfortable with each other, and the servicemember may withdraw from the family.

Toggle navigation. The site is secure. The Thrift Savings Plan TSP is a tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under k plans. By participating in the TSP, Federal employees have the opportunity to save part of their income for retirement, receive matching agency contributions, and reduce their current taxes. You can reach them by telephone on or write to them at:.

Box Birmingham, AL Your Money. Your Practice. Popular Courses. Retirement Planning Retirement Savings Accounts. Key Takeaways A thrift savings plan is similar to a k plan but is open only to federal employees and uniformed services personnel.

Participants in a TSP can get an immediate tax break for their savings or invest in a Roth for freedom from taxes after retirement. Participants can put their money into any of six investing options. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

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How Does a Pension Plan Work? A pension plan is an employee benefit that commits the employer to make regular payments to the employee in retirement. Civil Service Retirement Benefits details U. Corporate Pension Plans A corporate pension plan is an employee benefit that provides regular income in retirement based on length of service and salary history.