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The Thrift Savings Plan (TSP) is designed to help federal employees and military service members save for retirement on a tax-advantaged basis. If you decide to leave federal employment, one thing ...
Most working people have access to a retirement plan through their employer. Federal government employees may have a Thrift Savings Plan, while those working for companies might have a 401(k ...
For 2025, you’ll be able to increase your annual contribution to your 401(k), 403(b), governmental 457 plans, and the federal government's Thrift Savings Plan to $23,500, up from $23,000.
An employee must be over age 59 + 1 ⁄ 2 to request an "age-based" withdrawal and need not specify any reason for doing so. Employees may make up to four such withdrawals per calendar year; the prior requirement for a 30-day period between withdrawals was removed in 2024.
The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world. As of August 2021, the board manages $794.7 billion in assets on behalf of 6.4 ...
A retirement savings plan can help you achieve these financial goals and stay on track. There are all types of retirement plans to help you build your wealth, from 401(k) to Individual Retirement ...
The Smart Savings Act would make the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation investment fund (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. The bill would retain the Government Securities ...
Defined Contribution Plan. Federal Thrift Savings Plan. Nonqualified Deferred Compensation Plans, or NQDC. 401(k) Plan. Simple 401(k) Plan. 403(b) Tax-Sheltered Annuity Plan. Cash Value Life ...