u also have some contribution coming out of your base pay, so consider starting small, if need be.

There are a few things to remember, should you need to withdraw from your TSP. Any time you take money from your fund, you are taking money out of your retirement. So really think about it before you withdraw and consider any and all other options. Before you take out money, you might consider taking a loan from the plan. You would be paying yourself back through payroll deductions, and essentially borrowing from yourself. Remember should you have to make a withdrawal; you must pay ta

We’ve all been hearing about it, TSP, so what is it? The TSP, or Thrift Savings Plan, is a retirement savings plan for civilians who are employed by the United States Government and members of the uniformed services. This plan is similar to a 401(k) retirement plan used by the private sector.

So why would you choose to invest in TSP? There are several reasons to choose the TSP for your retirement savings. Some of those include but are not limited to:

• You save money on income taxes.
• You have a choice of 5 investment funds.
• All of the money you have deducted from your pay goes into your investment account, and no income tax is deducted.
• You don't pay the tax until you withdraw money, usually during retirement.
• Contributions of your tax-exempt combat or hazardous-duty pay retain their tax-exempt status, so you won't pay tax on this money, even when you withdraw it.
• If you need access to your money, you can borrow from your TSP at a low rate of interest.
• Personal loans can be for up to five years.
• Loans to purchase your residence can be for up to 15 years.
• Your loan is repaid through payroll deductions; it's like borrowing from yourself.
• TSP offers in-service withdrawals for financial hardship, or after age 59.
• You are given a choice of post-separation withdrawal options.
• You are given the ability to transfer money from other eligible retirement savings plans into your TSP account.

So how do I start investing in a TSP now? Investing in TSP is fairly simple. If you have access to your MYPAY account you can do this online at www.mypay.gov. You may also elect to do this with your Unit Finance Office by filling out a TSP-U-1 form. To calculate your contribution (per paycheck) to the TSP, multiply your paycheck by the percentage you wish to contribute. For example, if you wish to contribute 1% of 1000.00 you would be contributing 10.00 per month to the TSP. You might consider investing all of the following to produce a nice nest egg for your future – bonus pay, special duty pay, extra pay from non-taxation etc. You can earmark a portion (up to 100 percent) of these extra pays to go directly to the TSP. It's a smart use of extra money. If you can't put it all in, consider putting in half. Remember, you cannot participate with your extra pay unless you also have some contribution coming out of your base pay, so consider starting small, if need be.

There are a few things to remember, should you need to withdraw from your TSP. Any time you take money from your fund, you are taking money out of your retirement. So really think about it before you withdraw and consider any and all other options. Before you take out money, you might consider taking a loan from the plan. You would be paying yourself back through payroll deductions, and essentially borrowing from yourself. Remember should you have to make a withdrawal; you must pay tax

m your pay goes into your investment account, and no income tax is deducted.
• You don't pay the tax until you withdraw money, usually during retirement.
• Contributions of your tax-exempt combat or hazardous-duty pay retain their tax-exempt status, so you won't pay tax on this money, even when you withdraw it.
• If you need access to your money, you can borrow from your TSP at a low rate of interest.
• Personal loans can be for up to five years.
• Loans to purchase your residence can be for up to 15 years.
• Your loan is repaid through payroll deductions; it's like borrowing from yourself.
• TSP offers in-service withdrawals for financial hardship, or after age 59.
• You are given a choice of post-separation withdrawal options.
• You are given the ability to transfer money from other eligible retirement savings plans into your TSP account.

So how do I start investing in a TSP now? Investing in TSP is fairly simple. If you have access to your MYPAY account you can do this online at www.mypay.gov. You may also elect to do this with your Unit Finance Office by filling out a TSP-U-1 form. To calculate your contribution (per paycheck) to the TSP, multiply your paycheck by the percentage you wish to contribute. For example, if you wish to contribute 1% of 1000.00 you would be contributing 10.00 per month to the TSP. You might consider investing all of the following to produce a nice nest egg for your future – bonus pay, special duty pay, extra pay from non-taxation etc. You can earmark a portion (up to 100 percent) of these extra pays to go directly to the TSP. It's a smart use of extra money. If you can't put it all in, consider putting in half. Remember, you cannot participate with your extra pay unless you also have some contribution coming out of your base pay, so consider starting small, if need be.

There are a few things to remember, should you need to withdraw from your TSP. Any time you take money from your fund, you are taking money out of your retirement. So really think about it before you withdraw and consider any and all other options. Before you take out money, you might consider taking a loan from the plan. You would be paying yourself back through payroll deductions, and essentially borrowing from yourself. Remember should you have to make a withdrawal; you must pay ta

t's like borrowing from yourself.
• TSP offers in-service withdrawals for financial hardship, or after age 59.
• You are given a choice of post-separation withdrawal options.
• You are given the ability to transfer money from other eligible retirement savings plans into your TSP account.

So how do I start investing in a TSP now? Investing in TSP is fairly simple. If you have access to your MYPAY account you can do this online at www.mypay.gov. You may also elect to do this with your Unit Finance Office by filling out a TSP-U-1 form. To calculate your contribution (per paycheck) to the TSP, multiply your paycheck by the percentage you wish to contribute. For example, if you wish to contribute 1% of 1000.00 you would be contributing 10.00 per month to the TSP. You might consider investing all of the following to produce a nice nest egg for your future – bonus pay, special duty pay, extra pay from non-taxation etc. You can earmark a portion (up to 100 percent) of these extra pays to go directly to the TSP. It's a smart use of extra money. If you can't put it all in, consider putting in half. Remember, you cannot participate with your extra pay unless you also have some contribution coming out of your base pay, so consider starting small, if need be.

There are a few things to remember, should you need to withdraw from your TSP. Any time you take money from your fund, you are taking money out of your retirement. So really think about it before you withdraw and consider any and all other options. Before you take out money, you might consider taking a loan from the plan. You would be paying yourself back through payroll deductions, and essentially borrowing from yourself. Remember should you have to make a withdrawal; you must pay ta

r paycheck) to the TSP, multiply your paycheck by the percentage you wish to contribute. For example, if you wish to contribute 1% of 1000.00 you would be contributing 10.00 per month to the TSP. You might consider investing all of the following to produce a nice nest egg for your future – bonus pay, special duty pay, extra pay from non-taxation etc. You can earmark a portion (up to 100 percent) of these extra pays to go directly to the TSP. It's a smart use of extra money. If you can't put it all in, consider putting in half. Remember, you cannot participate with your extra pay unless you also have some contribution coming out of your base pay, so consider starting small, if need be.

There are a few things to remember, should you need to withdraw from your TSP. Any time you take money from your fund, you are taking money out of your retirement. So really think about it before you withdraw and consider any and all other options. Before you take out money, you might consider taking a loan from the plan. You would be paying yourself back through payroll deductions, and essentially borrowing from yourself. Remember should you have to make a withdrawal; you must pay ta

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.caseupon.com/article/90321/caseupon-Benefits-and-Requirements-of-the-Thrift-Savings-Plan.html">Benefits and Requirements of the Thrift Savings Plan</a>

BB link (for phorums):
[url=http://www.caseupon.com/article/90321/caseupon-Benefits-and-Requirements-of-the-Thrift-Savings-Plan.html]Benefits and Requirements of the Thrift Savings Plan[/url]

Related Articles:

An Entrepreneur's Solution to Getting Reliable Outsourced Content

Unless you're new to the whole online universe, everyone who runs an online business knows that content is king. The more content an entrepreneur can conjure up, the further they will excel in working towards being a top ranked website amongst the major search engines. The problem is, in order to be a true 'high-roller' online, you need lots and lots of unique, non-duplicated content.

How Public Relations Changes Minds

Public relations changes minds in the process of delivering what business, non-profit and association managers need more than anything else.

Good Search Engine Optimization for the Home Internet Business

If you want to be successful in an online business, you must make the search engines your greatest ally. Search engines are the best possible supplier of long-term, targeted free potential customers.

Bookmark it: