The Thrift Savings Plan, available to service members and federal employees, offers information on how to save and invest for the future.

Similar to the 401(k) plan offered to private sector employees, TSP allows contributions from two sources — employee or agency contributions.

Employee contributions are offered through the Federal Employees’ Retirement System, Civil Service Retirement System or uniformed services. Agency contributions are for FERS employees only.

Some advantages of a TSP are automatic payroll deductions, agency contributions to employees covered by FERS, a diversified choice of investment options, traditional (pre-tax) and after-tax (Roth) options to qualified investors, low investment expenses and various withdrawal options.

Regular contributions in an employee’s chosen amount or an automatic enrollment amount of 3 percent are deducted from payroll.

In addition to basic pay, service members may contribute from 1 to 100 percent of any incentive pay, special pay or bonus pay, as long as at least 1 percent is contributed from basic pay.

Additionally, catch-up contributions allow persons age 50 and older to make pre-tax or after-tax contributions in addition to regular employee contributions.

The goal of a TSP is to allow an investor’s money to start working for that person.

For instance, if a FERS employee earning $47,000 a year, purposes to save 5 percent of annual pay over 20 years with an expected annual return of 3 percent, that employee could anticipate a total TSP account balance of more than $128,000.

To find out more about TSP and its benefits, please attend the Federal Employee TSP Workshop, Feb. 23, at Pope Field Training Annex (Building 372).

Briefing options include: Early/Mid-Career, 9 to 11:30 a.m. and Mid-Career/Retiring, 1:30 to 4 p.m. To register, call 396-2507 or 907-3670.

For more information about the Thrift Savings Plan, visit