You might want to change your Thrift Savings Plan (TSP) contributions, especially if you are in the Blended Retirement System (BRS) and are not yet contributing at least 5% of your Basic Pay to your TSP. Contributing 5% or more of your Basic Pay maximizes the matching government contribution for BRS participants. Even if you are not a BRS participant, saving more now means you don’t have to save more later (to “catch up”) when you are closer to retirement age.
Go to myPay and log in.
Then select the “Traditional TSP and Roth TSP” link.
Enter your desired contribution of Basic Pay, Special Pay, Incentive Pay, and Bonuses into the Traditional TSP and/or Roth TSP tables. If you are a Blended Retirement System (BRS) participant, contribute at least 5% of your Basic Pay to your Traditional TSP and/or Roth TSP to receive a government contribution of an amount equal to 5% of your Basic Pay into your Traditional TSP account. (This will be reflected in your Thrift Savings Plan (TSP), not here in myPay.) Then scroll.
Select the green “Save” button.
Need help finding the 5% to contribute to your TSP? Do you want more in-depth assistance financially preparing for your future? Contact your installation’s Personal Financial Management staff or your Command Financial Specialist. Learn more at the PFM MarineNet Video channel, the Marine Corps M&RA BRS page, and the Military Compensation BRS page.
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NAGDCA National Retirement Security Week article series.
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