Thrift Savings Plan

[bmcccarthy]

I have read a number of threads on the topic, but there were just a couple questions I couldn't find the answer to. Is the TSP the only plan that we can have access to to save out money or are there there ways to put a portion of our paychecks away before we get them? Also does anyone have any person experience with the TSP funds?? I was thinking when I sign up for it the most logical choice would be the G fund until things shape up worldwide. Any thoughts at all about the subject would be appreciated. Thanks in advance!!!!

Brian

[giveen]

http://www.tsp.gov/

[bmcccarthy]

Yup, I got that, I was looking more for first hand, un-digested information from people who maybe are enrolled right now.

[giveen]

i'm enrolled. I put in an intial $1600 on the L plan in 2006, since then, my account is now at $1778.

[Artemis]

I have TSP right now. For starters even though it is named Thrift Savings Plan it really isn't a savings account. It is more of a retirement account that you can continue to pay into even if you leave service. You can also take out the entire balance of the account whenever you want but this closes out your account. If you are purely looking for a saving account look into a money market account if you have the money to put into it. If not I would suggest bonds.

[jungholee90]

Like what CPL Nelly said, it's more of a retirement savings. You will have all the classes on TSP (Type of funds and how it works) at Boot Camp and you will even get the chance to sign up for it. I filled out the form, but for some reason they didn't start me on it.

[SGT VAS]

Has anyone ever been able to take their money out? I have a couple grand in there I wouldn't mind transferring to my current retirement plan.

[awbrown1462]

Has anyone ever been able to take their money out? I have a couple grand in there I wouldn't mind transferring to my current retirement plan.

I have the Civ TSP and I have got a loan from them yes I said loan you have to pay it back plus intrest. Also I do move mine around from fund to fund depending on the market. Now if you wish to take it all out to put in another plan you can do that too go to the site and look around for the forms

[Artemis]

Yes go to the TSP website and there a whole bunch of different forms on there for different ations such as withdrawing the balance in full and one for transferring it from the TSP to say the 401k/j and so on. It takes a couple of weeks for the process to go through but all in all it is fairly easy.

[SGT VAS]

Thank you Marines for the intel