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The TSP is a military retirement savings plan both for civilians who are employed by the United States Government and for members of the uniformed services. The purpose of the TSP is to provide retirement income. The TSP offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under "401(k)" plans. The TSP is a defined contribution plan. The military retirement benefit that you receive from your TSP account will depend on how much you have contributed to your account during your working years and the earnings on those contributions.
|Jennifer Mathes, Ph.D.|