Military family with dad in fatigues holding young daughter

How the TSP gives back to the Armed Forces and federal employees

It’s Armed Forces Day and we’re busy thanking the men and women who serve our country with our friends at Military Saves. Military Saves, a partner in the Department of Defense’s Financial Readiness Campaign, seeks to motivate, support, and encourage military families to save money, reduce debt, and build wealth.

Armed Forces Day sign with familyIn honor of our Armed Forces, today we’re breaking down one of our favorite ways that the country gives back to servicemembers and their families: the Thrift Savings Plan.

The Thrift Savings Plan (or TSP) is a retirement plan available to uniformed services members and federal employees. Often called the “best retirement plan in the country,” the TSP is known for its simplicity, extremely low costs, and professionally designed funds that you can select based on your comfort levels with risk and investing.

One of the advantages of the TSP is that if you leave military service before you’re eligible for your pension, your TSP can go with you.

Another advantage is the Roth option, where you pay taxes on the money now instead of when you retire. This can be a great deal for anyone receiving combat zone pay, which is tax-exempt. You can also make contributions from basic pay, incentive pay, special pay, and bonus pay.

According to the Federal Retirement Thrift Investment Board, thousands of uniformed service members younger than 35 have been able to save $100,000 in their TSP accounts. Here’s how you can join them.

If you’re a member of the Armed Forces and want to build your savings, take the pledge to begin saving today at Military Saves.  Those with a savings plan are twice as likely to save successfully, so Military Saves will connect you with savings tools and resources, and reminders and inspiration to stay on the right track.


How the TSP gives back to the Armed Forces and federal employees >> http://bit.ly/1Rgy7dL v/ @AmericaSaves #savings #TSP
Tweet this now


Are you a member of the military that needs motivation to save? Let Military Saves help you reach your savings and debt reduction goals. It all starts when you make a commitment to yourself to save. Take the first step today and take the Military Saves pledge to save money, reduce debt, and build wealth over time. And it doesn’t stop there. Military Saves will keep you motivated with information, advice, tips, and reminders to help you reach your savings goal, with the special needs of military families in mind. Think of them as your own personal support system.

Take the pledge.

Take the Pledge

Savers who make a plan are twice as likely to save successfully. 

Take the America Saves Pledge

Tip of the Day

  • Written by Katie Bryan | November 29, 2013

    Transferring money from checking to savings is the fastest way to #save $500 to $1,000 http://ow.ly/PZR8h 

Saver Tips and Stories View all »

Jump-Starting a Financial Makeover

Written by Katie Bryan | October 28, 2013

Nichelle Johnson, a single mom with two teenage children, knows what it’s like to stretch a dollar. When she moved back to Virginia Beach in 2008, she provided for her family with just a part-time library position.

Read more...

#ImSavingFor Winner Story

Written by Lindsay Ferguson | June 13, 2019

America Saves awarded one lucky saver, Pedram R. from California, $750 for sharing his #ImSavingFor story. Pedram said, “Saving is important to me because it proves I am not willing to buy unnecessary things to please others or to be perceived as successful.”

Read more...

Put 20 Percent Away

Written by Lindsay Ferguson | July 8, 2019

“I am a single mother, and I make ends meet for me and my daughter, but I wanted to put money away for my daughter for a college fund. So I started saving 20 percent of my paycheck every month to put it away in a savings account with a high Annual Percentage Yield (APY). By the time my daughter is 18, I will have saved nearly $90,000.”

Read more...

Receive Updates

Take the Pledge

Written by Super User | September 16, 2013

Start Saving

Receive Texts

Written by Tammy G. Bruzon | July 15, 2014

Learn More

Partner News & Updates

Written by Katie Bryan | October 18, 2013

Sign Up