It may be too soon to think about retirement, but it is never too early to think about the future.
THRIFT SAVINGS PLAN (TSP)
The TSP is a retirement savings and investment plan that military members are eligible to participate in. The TSP is a defined contribution plan. The retirement income that you receive from your TSP account will depend on how much you have contributed to your account during your working years and the earnings on those contributions. Remember, the purpose of TSP is to provide retirement income.
You can choose to contribute any percentage (1 to 100) of your basic pay.
Open enrollment runs from May 15-July 31 and November 15-January 31 each year. Ask your Command Financial Specialist (CFS) how to enroll or download the form at: https://www.tsp.gov/forms/tsp-u-1.pdf
The TSP is an easy opportunity to begin or increase your retirement savings. Take some time to learn about the program and how TSP can help you prepare for the future.
Visit the TSP website for more info: http://www.tsp.gov/