TSP (Thrift Savings Plan)

The Thrift Savings Plan (TSP) is a retirement savings program for U.S. government employees and members of the uniformed services. It functions like a 401(k) plan, allowing participants to contribute part of their salary pre-tax, which grows tax-deferred until retirement. The TSP offers various investment options, primarily in low-cost index funds, to help grow your savings over time. Participants can choose how much to contribute and how to allocate it among the funds. It aims to provide a secure financial future by encouraging disciplined, tax-advantaged retirement savings.