Friday, November 19, 2010

How much does the military match with the TSP program?

Does it match any? My Mom told me they match 6%, but Dave Ramsey says that the military won't match anything. You've got to have a civilian federal job for the govt. to match anything. (ie. DEA, FBI, IRS, etc) Anyone know?How much does the military match with the TSP program?
Under the law that extended the TSP to the uniformed services, the secretary responsible for each service may designate critical specialties for matching contributions. Members serving in those specialties who agree to serve on active duty for 6 years may be eligible for matching contributions during the 6-year active duty obligation.



The matching contributions apply only to amounts contributed from basic pay and not from any incentive pay or special pay. If you do not contribute basic pay to the TSP, you will not be eligible to receive matching contributions. Matching contributions apply to the first 5 percent of pay that you contribute each pay period. Your contributions are matched dollar-for-dollar on the first 3 percent of pay you contribute each pay period and 50 cents on the dollar for the next 2 percent of pay.



As of the date of this Web edition, matching contributions had not been authorized by any of the uniformed services. Your service will notify you if you are eligible to receive matching contributions.How much does the military match with the TSP program?
Try this...



http://www.tsp.gov/forms/tspbk08.pdf



As far as I know t he military still doesn't match anything but my civilian agency matches up to 5% (partially on the upper 2%)
zip. zero.zilch.nada. nothing.



that being said, it's still a decent way to save if you have no experience or not a lot of money lying around begging to be invested.
go to TSP.gov

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