Participation in the Thrift Savings Plan and Blended Retirement System Matching Contribution Funds

1.  Purpose.  To emphasize the importance of Thrift Savings Plan (TSP) contributions for Marines under the Blended Retirement System (BRS).<br>
2.  TSP is a significant part of the BRS.  For BRS participants, the retirement income received from their TSP account depends on the amount invested during their working years and the earnings accumulated.  <br>
3.  Approximately 60 percent of the 103,000 Marines who enrolled in the BRS during calendar year 2018 are contributing at least five percent of their basic pay to their TSP account.  These Marines are benefitting from the full value of government matching contributions to TSP (one percent automatic plus four percent matching).  They are maximizing the amount of "free money" from the government based on making their own contributions. <br>
4.  In contrast, approximately 22,000 Marines are contributing zero to their TSP and therefore, only receiving the minimum one percent government automatic contribution each month.   For an example, consider a corporal that receives monthly basic pay of 2,555 dollars.  With zero individual TSP contributions, the corporal's account only grows by 25.55 dollars per month from the one percent government contribution.  If instead the corporal contributes five percent, government contributions would increase to 127.75 dollars per month.  By not contributing to his own TSP account, this Marine is missing out on over 100 dollars every month. <br>
5.  Marines can verify or change their TSP contribution percentages by accessing their DFAS MyPay account at https:/mypay.dfas.mil/.<br>
6.  Installation Personal Financial Manager (PFM) or Command Financial Specialist (CFS) are available to help with guidance on TSP investment funds and retirement saving goals.  PFM contact information is at https:/usmc-mccs.org/services/career/personal-financial-management/.  Also, visit the TSP website to find helpful planning tools and to develop a retirement savings plan at https:/www.tsp.gov/PlanningTools/Calculators/index.html.<br>
7.  Release authorized by Brigadier General William H. Swan, Director, Manpower Plans and Policy Division