The Thrift Savings Plan (TSP) is a Federal government-sponsored retirement savings plan. Since 1987, civilian employees covered by the Federal Employees Retirement System (FERS) have been eligible to contribute to the TSP and to receive partial government matching. Employees covered by the Civil Service Retirement System (CSRS) have been eligible to contribute to the TSP since 1988 with no government matching. While TSP participation is optional for both CSRS and FERS employees, the TSP offers the same savings and tax benefits that many private businesses offer their employees through 401(k) and 403(b) retirement plans.
Whether an employee is covered by CSRS or by FERS, the TSP should be an integral part of the employee’s retirement, perhaps providing as much as 30 to 40 percent of the employee’s future retirement income. This income stream from the TSP may have to last for as many 30 to 40 years of an employee’s future retirement. It is therefore important for employees to understand how much they can and should be contributing to the TSP, as well as how they should be investing their money in the TSP.
This seminar will explain what the TSP is and how the TSP fits into an employee’s overall retirement.
Topics to be covered include:
Presenter: Edward A. Zurndorfer. EA, CFP, CLU, ChFC, CEBS