Thrift Savings Plan

The Thrift Savings Plan (TSP) is a retirement savings plan for federal employees and uniformed service members in the United States. It offers a way to save money for retirement through payroll deductions, which can be invested in various funds, including stocks and government securities. Participants can benefit from tax advantages, as contributions can be made before taxes are deducted or after, depending on the chosen account type. TSP also includes matching contributions from some employers, enhancing retirement savings potential. Overall, it’s designed to help federal workers prepare financially for their retirement years.