Military members and federal employees have launched a lawsuit against TSP, The federal government’s tax-deferred retirement plan, also known as the Thrift Savings Plan. The suit alleges these employees lost access to their savings after a TSP system upgrade. What the TSP Lawsuit Alleges According to an article in Federal Times, a major system update… Read more »
The Blended Retirement System (BRS) is the new military retirement system. It went in to effect in 2018. The new system blends the traditional legacy retirement pension with a defined contribution benefit that is applied to the service member’s Thrift Savings Plan (TSP) account. It is one of the most significant changes to the compensation system since World War Two.
There will be an app that is coming out in mid-2022, that will make access to the TSP platform even easier. Also, there will be new tools such as a virtual assistant and virtual chat. There will also be a mutual fund window opening for the TSP. Learn more.
The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees. The plan is also available for members of the uniformed services, including the Ready Reserve. Congress established the Thrift Savings Plan in the Federal Employees’ Retirement System Act of 1986. The TSP offers savings and tax benefits that private corporations… Read more »
Maximizing Your Thrift Savings Plan Retirement Fund The Thrift Savings Plan (TSP) offers similar retirement savings and tax benefits that many private corporations provide their employees under their 401-K plans. (Learn the full ins and outs of the TSP here.) Not sure how to best utilize your TSP? Here are some tips… Why TSP? The… Read more »
Service Members Now Have More Options to Invest in TSP The Thrift Savings Plan will retire one fund and add six new funds on July 1st. The six new TSP options consist of L Funds or lifecycle funds which are crafted to allow investors to balance returns and risk on their TSP portfolio of holdings…. Read more »