How The Navy, Marines, Air Force And Army Invest For Retirement
Courtesy Of The WashingtonPost.com
Six years ago, Congress opened the Thrift Savings Plan to military personnel and other uniformed services. It is proving to be one of the government's quiet success stories.
The most recent data released by the TSP show that 36.1 percent of
active-duty military personnel are saving for their retirement through
the 401(k)-type program. An additional 12.2 percent of the military
reserves have joined the TSP.
Those numbers may not sound impressive, but soldiers, sailors and other military personnel have joined the TSP even though the Defense department does not make a matching contribution.
Still, TSP data show that the number of troops joining the savings plan
inches up almost every month. As of April, 52 percent of Navy
active-duty personnel were making contributions, along with 35.7
percent of the Marine Corps, 33.8 percent of the Air Force and 26.4 percent of the Army.
Wise Owl