Thrift Savings Plan (for federal/military EMS): Who Qualifies and What You Get
Learn how federal employees and military personnel can use the Thrift Savings Plan to build long-term wealth through low-cost retirement investments.
The Thrift Savings Plan (TSP) is a retirement savings program designed specifically for federal employees and military personnel to help them invest for the future.
Who it's for
This program is available to anyone working as a federal employee or serving in the military.
What you get
You gain access to a low-cost investment vehicle to help grow your retirement savings. It is designed to be a simple way to build wealth over time through various investment options.
What it costs you
While the plan is designed to be efficient, you will be responsible for paying certain administrative fees associated with managing the account.
The catch to know
The range of investment choices available through this plan is more limited than what you might find if you opened an account with a private brokerage firm.
How to apply
- Confirm your eligibility through your employment status.
- Set up your account through your official government benefits portal.
- Choose your preferred investment funds and contribution levels.