civ vs mil TSP

[chezhoy]

Why does the gov't give civ a percentage but not the mil as far as matching contributions? not right in my opinion.

 

[OMA]

Why does the gov't give civ a percentage but not the mil as far as matching contributions? not right in my opinion.

Could it be because Military members qualify for a pension (usually 50% of base pay) after serving twenty years in the military? However, I'd guess that the majority of soldiers don't get to twenty years and would benefit from the matching funds. It may be something that Congress thinks about in the future to retain soldiers. I for one currently have been maximizing my TSP since day one that it was offered to soldiers.

 

[Show-me]

Cost.

 

[Rod]

The Service Secretaries already have the authority to authorize matching contributions. They choose not to.

 

[qibovin]

The Service Secretaries already have the authority to authorize matching contributions. They choose not to.

I have heard of pilot programs involving matching funds as incentives in certain critically short occupational specialties, but I'm not sure how successful they have been. I suspect it would have been one of several choices and unfortunately you're probably not going to see a lot of early twenties folks opting for the rather intangible matching over the lump sum up front even if someone showed them the numbers. Also, for this same reason, it is unlikely that recruiters and/or reenlistment personnel are promoting it much. Thus this pilot, if it ever existed, is probably already dead.

 

[OMA]

Heard earlier this week as little as 20% of soldiers even contribute to the military TSP. What a missed opportunity.

 

[Callme_CO]

being in the National guard am i able to with my drill pay?

 

[Paul]

Yes and if you don't need the weekend check just put 100% down to go into TSP and then
just forget about it. You get used to not having that little extra money but 20-30 years down the road it's going to be a BIG chunk of money.

 

[Callme_CO]

will this money also go into the tsp i have through work?

 

[MADDOG]

will this money also go into the tsp i have through work?

it will be in a seperate account;
use the same username
use the same password (if you want to)
both will populate on the access screen
then you select the one you want

i have one

md

 

[Callme_CO]

oh ok i see...but i dont get why they seperate it.