Your Thrift Savings Plan (TSP) is a cornerstone of your retirement strategy as a federal employee. However, effectively managing your TSP involves more than just regular contributions. At Federal Retirement Authority, we believe strategic guidance can greatly enhance your retirement outcomes.

Understanding Your TSP Options

The TSP offers five individual funds and various lifecycle (L) funds. Each fund has unique characteristics, risks, and potential returns. Understanding these funds allows you to choose investments aligned with your retirement goals and risk tolerance.

Maximizing TSP Contributions

Contributing as much as possible to your TSP ensures that you fully benefit from compound growth and matching agency contributions. For 2024, the annual contribution limit for federal employees is $23,000, with an additional catch-up allowance of $7,500 for those aged 50 and above.

Withdrawal Strategies

Deciding when and how to withdraw from your TSP is critical to maximizing your retirement income and minimizing tax liabilities. Withdrawal options include lump sums, monthly payments, or annuities. Strategic withdrawals should consider your income needs, tax brackets, and overall retirement objectives.

Avoiding Common TSP Mistakes

Common mistakes include overly conservative investing, mismanaging fund allocation, or prematurely withdrawing funds. Such errors can significantly reduce your retirement savings. Expert guidance helps prevent these pitfalls, ensuring your TSP strategy remains optimal.

How Federal Retirement Authority Can Assist You

At Federal Retirement Authority, we offer customized TSP advisory services designed exclusively for federal employees. Our advisors work closely with you to develop strategic investment plans, withdrawal schedules, and ongoing portfolio reviews, securing your financial future.