TSP News

This D.C. Millennial Makes $81,000 And Has No Debt
This young federal employee lives in Washington, a high cost of living area, and not only has no debt, but is actively contributing to his future retirement savings via the Thrift Savings Plan and a Roth IRA. https://wamu.org/story/20/02/26/this-d-c-millennial-makes-81000-and-has-no-debt-thanks-partly-to-lessons-from-immigrant-parents/
Saving Solely in the TSP Can be Bad
The TSP is a great option for saving for retirement, but the author says that using it for all savings needs can create tax consequences.
FRTIB Plans to Raise Automatic Enrollment in TSP to 5%
A proposed rule in the Federal Register would increase the automatic enrollment percentage in the TSP from 3% to 5% later this year.
New TSP Catch-Up Contribution Process Coming in 2021
The TSP is implementing a simpler process for making catch-up contributions beginning in 2021.
New TSP Hardship Withdrawal Option Likely Coming Soon
A proposed rule would allow TSP participants to make hardship withdrawals in the event of natural disasters.
New TSP Annuity COLA Computation Rate Coming in March
TSP annuities will have a new formula used to calculate their cost of living adjustments starting this spring.
Cutting Federal Benefits to Align With Private Sector
The 2021 budget proposes major changes in federal benefits to align more closely with private sector benefits.
Task Force Proposes Eliminating FERS
A task force report urges major changes to the civil service system from pay and benefits to handling removal actions and appeals by federal employees.
The Social Security Double Tax Bomb
As the author explains, federal employees who think their taxes will be lower in retirement could be in for an unpleasant surprise.
Military Pensions are Creating a Generation of Millionaires
The current generation of military service members have pensions worth millions and they don’t even know it. The author describes how the TSP can help supplement these pensions. https://www.forbes.com/sites/impactpartners/2020/01/13/military-pensions-are-creating-a-generation-of-millionaires/#6f2bbeac8505

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