TSP.gov : In this article, you can get an in-depth insight into TSP, TSP Roth, TSP.gov login, TSP Calculator, TSP Phone Number, TSP Loan, TSP Funds, and other details related to TSP
What is TSP?
TSP is an abbreviation for Thrift Savings Plan. TSP is nothing but a retirement-based savings plan that is designed and executed by the Federal Employee’s Retirement System Act enacted by the US Congress in 1986.
The plan is specially designed to benefit the uniformed service members and federal employees of the United States of America, which include the Ready Reserve.
Benefits of Thrift Savings Plan
The Thrift Savings Plan which can be accessed by performing the TSP.gov login comes with many benefits which makes it quite desirable for federal government employees and men in uniform. Below we have listed some of the best benefits of Thrift Savings Plan.
- Very low fees: TSP and TSP fund has some of the lowest fees out there. The TSP C fund, which is an index fund comes with 0.029 percent expense ratio, which means if you invest $1000 by making use of TSP fund, then you only have to pay 29 cents as a fee.
- TSP Roth Benefits: Roth plans were first introduced for the civilian population of the United States. The Roth plans helped civilians in making withdrawals that were free of tax and after-tax investments. TSP Roth benefits were introduced back in 2012 and bring the same features that were enjoyed by the civilians for the TSP plan holders as well.
- Different TSP Funds Options: If you are a TSP holder, then you can choose between different TSP funds. Even though many are not interested or excited about TSP funds investment, it is indeed of the best ways to improve your income and diversify your investment.
What is TSP Loan?
The TSP Loan programme or Thrift Savings Plan loan programme allow TSP account holders to avail loan during their employment period. Just like the TSP plan, TSP loan is also only available for federal employees and members of the uniformed services.
When you avail a TSP loan, you are actually borrowing from your own TSP account. Therefore, while applying for a TSP loan, the loan amount should not exceed the contribution that you have made to the TSP account and the earnings you have got from those contributions in your TSP account.
TSP Loan Types
There are two types of TSP loans, and we have listed both of them below.
- TSP Loan for General Purpose: As the name suggests, TSP loan for general purpose can be used for any type of payments and requires no documentation to be produced in order to avail the loan. The repayment term of TSP general purpose loan is between 1 and 5 years.
- TSP Loan for Residential Purpose: The TSP residential loan can only be used in order to construct or purchase a primary residence of the person whoever is the owner of the TSP account. In order to avail a TSP residential loan, the TSP account holder has to submit valid documentation in order to verify the purpose of taking the loan. The repayment term of TSP loan for residential purpose is between 1 and 15 years.
TSP account holders can invest in TSP funds to diversify their investment and also to make use of investment benefits. Below are the different TSP funds that are available currently.
- TSP Funds – G Fund: The G Fund is also known as Thr Government Securities Investment Fund. With this fund, you can earn an interest that is quite similar to the long-term securities from the government. The interest rate is calculated on a monthly basis.
- TSP Funds – F Fund: The Fixed Income Index Investment Fund will be invested thoughtfully in a bond index fund. The bond index fund where the investment is made will be tracked by the Bloomberg Barclays Aggregate United States Bond Index. The interest rates often exceed the fund rates in the money market.
- TSP Funds – C Fund: The Common Stock Index Investment Fund will be invested in a stock index fund. The fund that is invested in, will track the S&P (Standard & Poor’s) 500 index. This fund has a potential of providing high returns on your investment.
- TSP Funds – S Fund: The Small Capitalization Stock Index Fund is another stock index fund. However, this stock index fund follows the TSM index (Dow Jones United States Completion Total Stock Market Index). In comparison to the C Fund, the S Fund has a higher volatility.
- TSP Funds – I Fund: The International Stock Index Investment Fund is the third stock investment fund offered under TSP funds. This fund follows the MCSI index for Europe, Australasia, and the Far East. This fund will give your investment portfolio a global exposure.
There are two TSP Calculator tools that you can make use of in order to analyze the retirement income and monthly payments. We have described them below.
- TSP Monthly Payment Calculator: The TSP Monthly Payment calculator is one among the TSP Calculator that will provide you with an estimate on the number and duration of payments that you will receive for your investment.
- TSP Retirement Income Calculator: The TSP Retirement Income Calculator is another TSP Calculator that will help you in deciding if getting a monthly income is suitable for you.
TSP Phone Number
The TSP Phone Number, also known as TSP ThriftLine, can be dialed in order to get any of your issues or queries rectified from an official source.
The official TSP Phone Number is 1-877-968-3778. If you contact the TSP Phone Number, then all details related to TSP Funds and TSP Plans, Annuity rates, and Share prices will be provided.
By performing the TSP.gov login, you can view all the details related to your TSP.gov account in a single place. Below is how you can easily complete the TSP.gov login:
- Visit the official TSP.gov login page by clicking here.
- Enter your TSP Account Number in the space provided. Alternatively, you can choose to enter your User ID, however, then you need to click the “User ID” radio button below the space to enter your TSP Account Number.
- Now, enter your TSP.gov login password in the respective space.
- Click on the “Log In” button.
You have completed the TSP.gov login procedure and you can now completely access your TSP.gov account online.
We believe that the article above on TSP.gov login, TSP loan, TSP phone number, TSP funds, and TSP.gov forms was helpful to you. If you have any queries related to the Thrift Savings plan scheme which were not addressed in this article, then feel free to ping us with your questions and we will definitely help you out.